Is Dubai a Bitcoin Friendly City?

[elevates]

I have initiated the plan to shift to Dubai. If everything goes right I would be in Dubai by the end of this month or by early April. I have few relatives who have been living in that city for more than a decade. Unfortunately they have no clue that I am Bitcoin enthusiast and I do trade occasionally in cryptocurrency exchange in my country which is india.

As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.

What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.

1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?

Thanks in advance.

Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.

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[OmegaStarScream]

1. Neither is an offence. They recently passed a law about crypto/digital assets.
2. I don't believe so, no but I suggest you do more research about this.
3. No, not as far as I know.
4. It shouldn't take more than a few clicks with a CEX.
5. You've got a few options:

- BitOasis (local one that has been running for a few years)
- CoinMENA (launched not a long time ago).
- Rain.bh (Bahraini platform, licensed by the central bank of bahrain but supports UAE residents as well).

I know that Kraken also started to support AED transactions at some point, but stopped like a month ago.

[wajik-tempe]

Anyone correct me if i'm wrong..

1. Is holding & trading or both an offence?
- Holding and trading cryptocurrencies was not illegal in Dubai. However, it is important to note that regulations can change, and it is always best to stay informed about any updates

2. Do they tax or restrict on buying/selling of crypto?
- No, there were no specific regulations on taxing or restricting the buying and selling of cryptocurrencies in Dubai

3. Are there any DEX that support BTC/AED transaction globally or vice-versa? and
5. If DEX are not available then which CEX should I use?
- I am not sure about the availability of decentralized exchanges (DEX) that support BTC/AED transactions globally. However, it is possible to use centralized exchanges (CEX) that support BTC/AED trading pairs, such as BitOasis, Kraken, and Binance.

4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
- The time it takes to buy or sell Bitcoin in AED on a DEX or CEX can vary depending on the exchange and market conditions. but i'm pretty sure it won't be much different with btc/usdt

[Accardo]

Read about the RAK Digital Asset Oasis https://www.wam.ae/en/details/1395303133695 their recently launched digital asset free zone will be responsible for all the things you require about cryptocurrency and provides variety of digital asset like you listed above including DAO, NFTs etc. So, you'll have to prepare and be ready to stay in the sixth largest city in UAE after Dubai, except you are determined to live in Dubai, I don't know about the cryptocurrency welfare in Dubai. However the things you listed, are they limited to some countries? can't you access such platforms anywhere in the world?

[Cryptomultiplier]

Dubai is definitely crypto friendly from all the findings I have made and the stories I have heard. It is one of the future cities in the world and advancement in tech innovation is the forefront of its commerce and realization of future designs.
I don't have to say much. You can read more at the link below for proof of their crypto adherence and use.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://decrypt.co/120907/dubai-clarifies-rules-for-crypto-companies%23:~:text%3DAccording%2520to%2520the%2520new%2520rulebook,authority%2520before%2520offering%2520their%2520services.&ved=2ahUKEwjWloyM6tn9AhVDhP0HHa3XA5EQFnoECBEQBQ&usg=AOvVaw3I-zf0SFSwiP-9w_fYhvUu

[NotATether]

Dubai has some freaking expensive rent so I hope you have sorted out where you are going to live before you move there. Otherwise you'll just end up using your trading profit to pay off house rent.

Keep in mind that there are two sections in Dubai:

- The foreigners' areas, usually concentrated around the free zones
- and the rest of the city, where all the immigrants from e.g. nepal, bangladesh, and 3rd world countries with small pockets & try to earn a quick buck. You might find it hard to use your crypto there and it is not glamorous like the first section. Crime is also very real there, so keep your coins close to yourself.

[Outhue]

Dubai looks like a friendly crypto zone for investors but if you look at it from another angle you will see that it's a space that benefits only the rich people, freedom with crypto but no easy life when it comes to rents, it is not a place anyone can rush down to all because they are crypto-friendly, there are few things you need to consider first, and the most important one is how big your pocket is.

[tech30338]

I have initiated the plan to shift to Dubai. If everything goes right I would be in Dubai by the end of this month or by early April. I have few relatives who have been living in that city for more than a decade. Unfortunately they have no clue that I am Bitcoin enthusiast and I do trade occasionally in cryptocurrency exchange in my country which is india.

As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.

What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.

1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?

Thanks in advance.

Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.

Most of the big fish who is into crypto go to Dubai because of tax, here is what I have searched hope this will be helpful to you to decide.
https://www.mondaq.com/fin-tech/1278306/is-dubai-the-best-option-for-crypto-founders#:~:text=Relocating%20to%20Dubai%20can%20offer,receiving%20token%20or%20equity%20incentives.

[Zlantann]

Dubai looks like a friendly crypto zone for investors but if you look at it from another angle you will see that it's a space that benefits only the rich people, freedom with crypto but no easy life when it comes to rents, it is not a place anyone can rush down to all because they are crypto-friendly, there are few things you need to consider first, and the most important one is how big your pocket is.

Dubai seems to be the most friendly bitcoin nation in the middle east. Although it is an Islamic nation it seems to be open to western culture and investment. The country has a zero percent crypto corporate tax policy because it wanted to attract more crypto investment to its economic space. The country is a host to over 400 crypto businesses and there is the presence of some of the best exchanges in the world. And this friendly polices have attracted many investment that has turned the country into a crypto hub. Moving to Dubai can be a good decision for any crypto enthusiast because there might be many employment and investment opportunities. But note that you need to do a lot of planning before relocating  because it is very challenging.

[elevates]

Thanks, @OmegaStarScream for your brief reply. Thanks, @NotATether for giving me an idea of Dubai in a local way, and yes accommodation & transport is already taken care of. I won't be paying a single penny for the same. I also would like to ask both of you how much minimum AED per month is good if accommodation and transport are not an issue to live a good life in Dubai according to you guys.
 

[OmegaStarScream]

Thanks, @OmegaStarScream for your brief reply. Thanks, @NotATether for giving me an idea of Dubai in a local way, and yes accommodation & transport is already taken care of. I won't be paying a single penny for the same. I also would like to ask both of you how much minimum AED per month is good if accommodation and transport are not an issue to live a good life in Dubai according to you guys.
 

I suggest you look at Numbeo. It should give you a good idea about the cost of living there.

Also, I forgot to mention that privacy coins have been recently banned[1].

[1] https://www.coindesk.com/policy/2023/02/08/dubai-prohibits-privacy-coins-under-new-crypto-rules/

[elevates]

I suggest you look at Numbeo. It should give you a good idea about the cost of living there.

Also, I forgot to mention that privacy coins have been recently banned[1].

[1] https://www.coindesk.com/policy/2023/02/08/dubai-prohibits-privacy-coins-under-new-crypto-rules/

Thanks once again @OmegaStarSceam I did went ahead and checked Numbeo and found it to my satisfactory.

A single person estimated monthly costs are 3,751.8AED without rent.

I would be earning a little bit more than the amount quoted and the rent has been taken care. I am not going to use any crypto to survive. Whatever I am earning from signature or whatever I have invested/will invest is my retirement fund.

[Findingnemo]

@OP Dubai is one of the most welcoming and tax friendly country on this land and also zero income tax policy makes it as a heaven for whoever wants to invest their money.

Holding and trading of cryptocurrency in Dubai isn't an offence since some of the influencers I knew become millionaires with their bitcoin investment so you're good to go.

Almost all the cex allows if I am not wrong but liquidity depends on the exchange, personally I prefer p2p for crypto to fiat trades because whereas for crypto trades there is no shortage of liquidity on centralized exchanges.

[zasad@]

I have initiated the plan to shift to Dubai. If everything goes right I would be in Dubai by the end of this month or by early April. I have few relatives who have been living in that city for more than a decade. Unfortunately they have no clue that I am Bitcoin enthusiast and I do trade occasionally in cryptocurrency exchange in my country which is india.

As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.

What I am trying to find out is simple but essential? I would request everyone who knows how Dubai crypto works to answer. Please do not answer my questions for the sake of signature campaign as it might not help me and others follwing my path.

1. Is holding & trading or both an offence?
2. Do they tax or restrict on buying/selling of crypto?
3. Are there any DEX that support BTC/AED transaction globally or vice-versa?
4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?
5. If DEX are not available then which CEX should I use?

Thanks in advance.

Moderators: If this board is not appropriate then please transfer this topic to a relevant board. Please do not delete it. Thanks.

If you live in Dubai, you should not have any problems exchanging cryptocurrency for fiat and vice versa. There are a lot of services out there. You can trade on any exchange, you can use exchanges without the know your client procedure, but I wouldn’t keep a lot of money there.
https://www.bestchange.com/tether-trc20-to-dirham.html
https://www.bestchange.com/bitcoin-to-dirham.html

Current list of exchanges without KYC(Ratimov (OP))
https://bitcointalk.org/index.php?topic=5414537.msg60989250#msg60989250э
But everything is very expensive there, although you can come to India if you need treatment.

[Muba20]

At a time when most countries are reacting differently to cryptocurrency, Dubai is trying its best to capitalize on this opportunity. They are using crypto as a weapon to increase foreign investment in their country. This policy has created a different attraction for crypto enthusiasts to Dubai. The government of Dubai plans to accept payments in Bitcoin on its national airline Emirates. Besides, they have taken various other steps. Such a visionary policy towards crypto by the Dubai government has helped them to take a step forward. There is already a lot of crypto investment going on in their countries.

[Merit.s]

Dubai is a crypto friendly country because it is a tourist country,that is where the government generates most of their income from. So many people all over the world do travel to Dubai on vacation, with this the government will embrace crypto since Dubai is country that is open to new technology to meet up with the demand or satisfaction of foreigners in the country who is  there for business or for tourism. Life is expensive in Dubai if you don't have a good job to pay your bills. The rent is expensive in the city,since you said that you have already sorted out your accommodation and job, you shouldn't have a problem to enjoy the beautiful city of Dubai.

[Dunamisx]

Dubai is a crypto friendly country in the middle east, i have several occasions of coming across some threads that talks about Cryptocurrency in that region on this forum, they have a crypto free trade zone and many more cryptocurrency enabling environment that suits the benefits of the people over the region to make business since it's believed to be a business center of commerce, Dubai has also hosted alot of business conference on digital technology and their regulations to the best interest of the citizens into  cryptocurrency.

[Woodie]

I have initiated the plan to shift to Dubai. If everything goes right I would be in Dubai by the end of this month or by early April.

With some of your family already there I really don't think you will be homesick or anything in those lines, all the best as you relocate

I have few relatives who have been living in that city for more than a decade. Unfortunately they have no clue that I am Bitcoin enthusiast and I do trade occasionally in cryptocurrency exchange in my country which is india.

Well now just don't tell them but find some you can confine in and who knows they might like trading too .

As trading crypto in India has become a pain on the ass. I thought of going to Dubai as most crypto inventors and investors are shifting their base to Dubai.

I see many profitable traders going to be doing this, noticed most of my prop firm trader's complaining about this and I think they are also having problems with card payments and the alike .

1. Is holding & trading or both an offence?

I follow several crypto millionaire's and traders who have relocated to this place and non of them have mentioned this to be a problem for them, it's all about blending in and learning their way of life there

2. Do they tax or restrict on buying/selling of crypto?

I highly doubt it, besides platforms that you can buy your crypto from haven't flagged off Dubai you can probably keeping using the platforms you are familiar with.

3. Are there any DEX that support BTC/AED transaction globally or vice-versa?

I suppose you need to invest in some crypto card or better yet use p2p to get AED if crypto is off the table .

4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?

If all is setup like KYC and all ,  I would say within 5-30 minutes you should be done.

5. If DEX are not available then which CEX should I use?

Thanks in advance.

I would say go for reputable platforms, unless you are out searching for something close to home use smaller bits to minimise your loss .

[suzanne5223]

1. Is holding & trading or both an offence?

I believe the only offence in Dubai is doing something that illicit or gambling.

2. Do they tax or restrict on buying/selling of crypto?

For now, I believe cryptocurrency is tax-free in Dubai ever since their creation of crypto Freezones in September 2021 if I can remember correctly.

3. Are there any DEX that support BTC/AED transaction globally or vice-versa?

Yes, I don't know about other but I believe the East have its local exchange and Binance offers a good service for people in Dubai.

4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?

I dont know if there DEX that supported the AED currency but I am sure of some CEX that offer quick services.

5. If DEX are not available then which CEX should I use?

Binance, Kraken and CEX.io

[UchihaSarada]

4. How long does it takes to buy/sell Bitcoin in AED on a DEX or CEX?

If you are buying or selling on a centralized exchange, how long does it take for your order to be filled will depend on some of following contributors

Trading volume on that exchange, big or small. If it it too small, you will have to wait a little bit long to see your order to be filled if you don't want to buy or sell directly to available orders of others. If it is big, your order likely will be filled quickly.

I think more about withdrawal waiting time on centralized exchange, it can be quick or long depends on each exchange.

If you are buying and selling on decentralized exchange and if liquidity pool for that coin is big enough you will get good slippage and your order will be filled instantly. DEX is built for permissionless experience.