The Hottest Trends that are Changing the Payments Industry in the UAE
One of the most dynamic and innovative economies in the GCC/MENA region, the UAE is now witnessing an increasing number of online transactions.
One of the most dynamic and innovative economies in the GCC/MENA region, the UAE is now witnessing an increasing number of online transactions.
The UAE has a double taxation agreement with Pakistan, which means that the salary earned in Dubai is exempted from tax in Pakistan.
When choosing an international money transfer service from the UAE, make sure to compare these charges. This will ensure that your recipient receives more money, and you have an economical option to send money repeatedly.
There are a number of apps that facilitate international money transfers from the UAE. Wise and Western Union have popular apps that offer competitive exchange rates.
According to the India-UAE Double Taxation Avoidance Agreement (DTAA), your salary earned in Dubai is tax exempted in India.
If you’re transferring funds to your own NRI account in India or sending money to family, you will not be limited by any regulation on the amount that can be sent.
For repatriable-basis transactions in the secondary market, NRIs need to open an NRE (Non-Resident External) bank account in India. For non-repatriable basis transactions, they require an NRO (Non-Resident Ordinary) account.
Cross-border transactions have grown dramatically over the past decade, particularly due to the presence of a large number of Indian expats.