• bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 16 Gwei
 

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How to Cash Out Crypto in Dubai TAX FREE

How to Cash Out Crypto in Dubai TAX FREE

The video explains how to cash out crypto tax-free in Dubai and the UAE, highlighting residency, processes, and cautionary steps.

– Residency & Taxation: By establishing residency in Dubai/UAE, crypto owners can avoid personal taxes, with no crypto tax or VAT on crypto services, but companies pay 9% tax on crypto-related payments【00:00–00:31】.
– Important Considerations: Ensure you’re a non-tax resident in your home country (e.g., Canada, UK) and not a US citizen to avoid paying taxes to the IRS【00:31–00:57】.
– Real Estate Strategy: A popular method for crypto owners is buying property (e.g., villas or apartments) with crypto to obtain UAE residency through the 10-year Golden Visa【00:57–01:28】.
– Banking Risks: UAE banks are generally not crypto-friendly. Moving large sums from crypto exchanges to banks can result in account closures; it’s advised to send smaller amounts gradually【02:23–02:50】.
– Alternative Payment Methods: Crypto can be cashed out to buy luxury goods (e.g., cars, watches) or converted into cash (AED), which is widely accepted in the UAE【03:26–03:51】.
– P2P and Broker Caution: While P2P brokers may offer bank transfers in exchange for crypto, caution is needed to avoid scams or issues with unlicensed brokers【04:22–04:50】.
– Global Options: As a UAE tax resident, you can also set up structures outside the UAE (e.g., in Panama, Switzerland) to access and cash out crypto through foreign banks【05:14–05:42】.
– Banking Alternatives: Swiss or Liechtenstein banks may offer better options for large crypto cash-outs, though they require high minimum deposits and a long client relationship【05:42–06:10】

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