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Clara

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5

Ease to move savings from Middle East currencies to €?

Hi, apologies in advance for the question not entirely consulting related.

I got consulting offers in the UAE and one in Qatar. I worked in Europe all my life. Obviously, the salary is extremely appealing even considering the higher cost of living. I see my self in the ME (Middle East) short term 2-4 years maximum. I got told that transferring your money from the ME to Europe could be challenging for legal limitations and costly because high fixed and variable fees apply exchange rates.

I wanted to learn from someone who had this experience:
- How easy is it to move your savings from UAE / Qatar to a European Bank (€) from a legal perspective? - How costly is it (conversion fees)? Is there a trick to exchange in a cheaper way to €? (e.g. pass it to $ a then € maybe..)
- Any other untold challenge or story regarding this matter you would like to share with me?

Thanks in advance for your advice,
Andrew

Hi, apologies in advance for the question not entirely consulting related.

I got consulting offers in the UAE and one in Qatar. I worked in Europe all my life. Obviously, the salary is extremely appealing even considering the higher cost of living. I see my self in the ME (Middle East) short term 2-4 years maximum. I got told that transferring your money from the ME to Europe could be challenging for legal limitations and costly because high fixed and variable fees apply exchange rates.

I wanted to learn from someone who had this experience:
- How easy is it to move your savings from UAE / Qatar to a European Bank (€) from a legal perspective? - How costly is it (conversion fees)? Is there a trick to exchange in a cheaper way to €? (e.g. pass it to $ a then € maybe..)
- Any other untold challenge or story regarding this matter you would like to share with me?

Thanks in advance for your advice,
Andrew

(edited)

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Best Answer
Book a coaching with Clara

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USD 229 / Coaching

Hello!

As long as the money is obtained by licit ways, you have totally no problem.

To save comissions, best is to talk to your bank directly for special treatment o leverage fintechs such as Transferwise or other that are in the market that minize comissions

Hope it helps!

Cheers,

Clara

Hello!

As long as the money is obtained by licit ways, you have totally no problem.

To save comissions, best is to talk to your bank directly for special treatment o leverage fintechs such as Transferwise or other that are in the market that minize comissions

Hope it helps!

Cheers,

Clara

Book a coaching with Ian

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Hi there,

I highly recommend you use TransferWise for all money transfers. Banks are a pain!

Hi there,

I highly recommend you use TransferWise for all money transfers. Banks are a pain!

Book a coaching with Henning

100% Recommendation Rate

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2,434 Q&A Upvotes

USD 169 / Coaching

+1 for TransferWise

+1 for TransferWise

Book a coaching with Udayan

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USD 189 / Coaching

I second Ian - Tranferwise is great!

I second Ian - Tranferwise is great!

Book a coaching with Francesco

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Hi Andrew,

Congrats on your offers. The best ways to transfer money nowadays are TransferWise and Revolut, although you should check they are available in your country.

Best,
Francesco

Hi Andrew,

Congrats on your offers. The best ways to transfer money nowadays are TransferWise and Revolut, although you should check they are available in your country.

Best,
Francesco

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