How to Shift to Dubai as Forex Trader:
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Step 1: Understand Visa Options:
- Freelance Visa: Suitable for Forex traders; you can self-sponsor.
- Golden Visa: For high net worth individuals, granting long term residency.
- Investor Visa: Ideal for those investing in local markets or starting a Forex business.
Step 2: Get Licensed to Trade (Optional):
While not mandatory, obtaining a license can be beneficial for those running a trading business. Consider:
- DMCC License: For commodities and Forex trading.
- Offshore Companies: Setting up in Free Zones for tax efficiency.
Step 3: Open a Bank Account or Digital Solution:
- Local Banks: Emirates NBD and Mashreq Bank are popular choices.
- Digital Solutions: Services like Hubpay offer low-cost, fast international money transfers.
Step 4: Find the Right Trading Platform:
- Regulation: Look for brokers regulated by bodies like the FCA.
- Customer Support: Ensure availability during your trading hours.
- Leverage Options: Match with your risk appetite.
Step 5: Choose the neighbourhood:
- Downtown Dubai: Near business hubs and the DIFC.
- Dubai Marina: Offers a laid-back lifestyle with business access.
- Jumeirah: Luxury villas in a quieter setting.
Step 6: Settle with Local Services:
- Internet: Opt for high-speed providers like Etisalat or Du.
- Mobile Plan: Choose data-heavy plans for on-the-go access.
- Co-Working Spaces: Facilities like AstroLabs and WeWork cater to traders.
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