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UAE Mass Bitcoin Adoption Boom: Emirates Airline Set to Use ‘BTC as a Payment Service’

Despite various world crises that humanity has seen lately, there are multiple moves that are taking place and which take the mass adoption of Bitcoin and crypto on the path to success.

We have recently addressed various moves that are taking place in Dubai that make the location one of the most important ones in the world for crypto enthusiasts.

More nations are seeing the importance of adopting digital assets and their underlying tech, the blockchain, in 2022.

Traditional finance is showing its flaws, and the future gets closer with the help of digital assets. Fiat money will become oblivious over time, and people will be using crypto in the near future, according to more and more experts in finance and economics.

Now, more juicy news is out, and it’s about making Bitcoin as a payment service.

Emirates Airline to use BTC as a payment service

Accoridng to fresh reports, amidst the various crypto severe events that have been taking place in the markets, the mass adoption of Bitcoin and digital assets continues to go strong.

United Arab Emirates (UAE)’s leading airline, Emirates Airline, is reportedly planning to add “bitcoin as a payment service.”

The airline reportedly plans to recruit personnel to create applications that monitor client needs.

The United Arab Emirates (UAE)’s leading airline, Emirates Airline, will soon embrace “bitcoin as a payment service.”

This is what the company’s chief operating officer (COO) Adel Ahmed Al-Redha has said. In addition, the airline will add non-fungible token (NFT) collectibles on its webpage.

There have already been all kinds of reports involving the airline’s plan to embrace bitcoin come just a few weeks after it revealed its NFT and metaverse plans.

As reported by Bitcoin.com News, the company’s goal with the metaverse launch is to ensure the airline is “aligned with the UAE’s vision for the digital economy.”

Arab News notes that Al Redha hinted that his company might have to recruit employees to assist it in creating apps that monitor customer needs. He also spoke of the differences between NFTs and the metaverse. He explained:

“NFTs and metaverse are two different applications and approaches.”

He continued and said the following:

“With the metaverse, you will be able to transform your whole processes — whether it is in operation, training, sales on the website, or complete experience — into a metaverse type application, but more importantly making it interactive.”

This is yet another example of how great Bitcoin and crypto adoption is going these days despite all kinds of crises that are taking place all over the world.

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Crypto News Crypto Nomad Lifestyle

Crypto Helps Ukraine Defend Itself Against Russia’s Invasion, Here’s How You Can Contribute

Cryptoassets continue to prove their case in Ukraine, as well over USD 100m in crypto was raised during the first five weeks of the Russian invasion.

Per a report by blockchain research firm TRM which analyzed over 50 crypto donation campaigns, official government entities have received over USD 50m of donations. Other popular non-governmental organization (NGO) campaigns have netted another USD 50m in donations.

Bitcoin (BTC) and ethereum (ETH) were the most popular cryptoassets and together facilitated over 85% of all transactions. Alternative networks like Tron (TRX), BNB, and Litecoin (LTC) have stayed distantly behind.

According to Alex Bornyakov, The Deputy Minister of Digital Transformation of Ukraine, cryptoassets have been “extremely useful” in the facilitation of funds in the country and have already purchased invaluable equipment for the Ukrainian Army.

In the recent episode of the Wolf of All Streets show, Bornyakov elaborated that cryptoassets were especially beneficial during the first days of the war when there was a lot of chaos in the country. “If you want to send a wire, and wire is going to get to your supplier in three days, you honestly don’t have three days, and maybe in three days you’re not going to live in this country anymore,” he said. In these circumstances, crypto is much faster, he added.

1. Aid For Ukraine

Aid For Ukraine is the official crypto fundraising initiative by the Ukrainian government. Powered by the country’s Ministry of Digital Transformation, the Kuna and FTX exchanges, as well as Everstake staking service platform, the page comes with a simple user interface that lets you donate in 14 crypto assets as seen in the image below.

Although not on the official page, the same Ethereum address, yet again, is also used to receive donations on other Ethereum-based fork networks that utilize the same ETH address system. These include donations via:

  • BNB (ex Binance Smart Chain) and BNB-based tokens, including NFTs;
  • Polygon (ex Matic Network) and MATIC-based tokens, including NFTs;
  • Optimistic Ethereum and its tokens;
  • Arbitrum and its tokens;
  • Avalanche, AVAX-based tokens, and NFTs;
  • Fantom, FTM-based tokens, and NFTs;
  • Cronos (ex-Crypto.com Chain), CRO-based tokens, and NFTs;
  • Huobi Token (HT), HT-based tokens, and NFTs.
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Crypto News

Inflation is Chasing People to The UAE; Dubai, The World’s Blockchain Capital: Most Important 2022 Crypto Events

Digital assets are seeing massive adoption in 2022. This is happening despite the huge market volatility and the fact that our world is sinking in one crisis after another.

On the other hand, the truth is that Bitcoin and crypto, in general, have been enjoying increased popularity, especially amidst tormented times. Let’s go back to 2020 when the coronavirus pandemic hit the world.

Normality as we used to know it seems to have ended back then and life became governed by fear and uncertainty. The lockdown measures and the disease have made life a living hell, but crypto managed to resist through it all.

Bitcoin dropped in price really quickly when the pandemic hit, dropping below $4k, but then the FOMO kicked in, and everyone started buying the king coin like crazy.

For more than two years, the king coin and other digital assets managed to show their resilience and strength, and their price continued to surge.

Bitcoin was able to show the whole world that it is not correlated with the traditional markets, and it’s a great safe haven, not to mention a hedge against inflation. Inflation continues to rise, and people are searching desperately for viable investments for 2022 in order to preserve their wealth.

 

The rising inflation in 2022

Inflation keeps rising, and this is getting worse in 2022 amidst the times of war that we’re living in. As you probably know by now, the tensions between Russia and Ukraine are only getting stronger, and this is affecting the whole world economy.

America’s inflation is also surging, and it’s inflicting a lot of pain on household budgets all over the country. On the other hand, it’s also important to note that not everyone is affected in the same way, according to an interesting article shared by CNN. The economic data shows the general trend of prices, but it does not tell the story of individual groups.

This is what the Federal Reserve Governor Lael Brainard said.

“Today, inflation is very high, particularly for food and gasoline. All Americans are confronting higher prices, but the burden is particularly great for households with more limited resources,” Brainard continued and stated at the Minneapolis Fed’s Spring 2022 Institute Research Conference.

According to official data, it seems that lower-income households are spending 77% of their income on necessities. This is compared to only 31%, which is spent on necessities by the higher-income households.

More than that, it’s important to note that lower-income households have much smaller financial cushions. Also, they may not have the ability to switch to lower-priced alternatives that easily.

“Inflation disparities between the rich and the poor grow during bad times,” said David Argente, assistant professor of economics at Penn State University. He spoke during the panel that followed Brainard’s remarks.

President Biden and Fed Chairman Jerome Powell said that even if the wages have been on the rise. This will happen especially in lower-paying jobs in the leisure, hospitality, and retail industries. Also, the price hikes have to be brought under control.

Economists and financial experts as well are worried that if the prices continue to surge for much too long, the consumers will start putting off or delaying their purchases. All this could result in eating into the nation’s economic growth.

As a result, the Fed has already started raising the interest rates, and they seem to be committed to continuing doing it, according to Brainard. She also made it very clear that the central bank’s balance sheet will go down quicker compared to the previous policy-tightening cycles.

Anyway, as a conclusion, this massive surge of inflation has a result that digital assets enthusiasts love – the mainstream adoption of crypto is intensifying on a daily basis.

 

The rising inflation leads to crypto adoption

The rising inflation in 2022 is definitely leading the path towards crypto adoption on a larger scale.

MicroStrategy’s Michael Saylor also talked about the issue and made sure to point out the fact that the rising inflation is great for crypto adoption. This is important because it’s been the goal of the crypto space for a really long time; it’s probably the most important goal that the crypto industry has, and a lot of things have supported this target so far.

Saylor believes that an increase in inflation will be weakening the global currencies a lot, and this will lead to the adoption of crypto more and more.

The surge in food and oil prices will impact the economy and public debt, and the governments are adopting tax breaks. Bitcoin evangelist Michael Saylor recommended the king coin as an inflation hedge and store of value to investors, financial institutions, and economists as well.

Saylor tweeted not too long ago that this surge in prices all over the world is triggering mass crypto adoption.

Saylor is citing a Wall Street Journal article that addresses the ways in which the rising inflation is weakening the global currencies and the surging public debt. He believes that the governments’ control of the capital, price, and export will basically be the catalysts that will trigger more adoption of digital services, products, and assets.

This surge in prices for oil and food has triggered protests all over the world. Governments have been forced to continue their subsidies, and this resulted in increased spending by governments. All this naturally led to a surge in the public debt.

There are still some countries that can manage the rising inflation up to a limit by boosting the interest rates and inducing a monetary easing. On the other hand, it’s imperative to mention the fact that poorer nations and the countries that are debt-ridden have now been faced with significant challenges amidst this rising inflation.

 

An essential shift towards digital assets’ adoption

There are a lot of countries, including Ukraine, El Salvador, and South Korea, which have already started to make massive moves towards the push for crypto adoption after they’ve been faced with rising inflation and increasing public debt.

More important business leaders, including MicroStrategy’s Michael Saylor, Mike Novogratz, Elon Musk, and others, have already advised governments and investors about the massive benefits of crypto, including Bitcoin, of course.

Also, it’s essential to mention the fact that important financial institutions such as BlackRock, JPMorgan, and Morgan Stanley are looking to invest in crypto as the interest in digital assets has been growing among their clients.

Meanwhile, the IMF warned about the growing crypto adoption and the decreasing US dollar dominance. All this is a result of the Russia-Ukraine war.

 

People are turning towards crypto heavens, like the UAE

Thanks to the vast openness to trade and the extremely low taxes, the United Arab Emirates is flaunting the 10th freest economy in the whole world, according to the Index of Economic Freedom. The governments in the UAE are currently and openly encouraging foreign investments. More than that, cities such as Dubai have managed to become popular for their massive entrepreneurial spirit.

Dubai managed to become, over the years a genuine crypto heaven for enthusiasts. There are various reasons for which this has been happening, and people are moving there.

UAE became in a really short period of time one of the most luxurious and desired places on the planet. One of the reasons for which this is happening is the fact that it’s extremely open to supporting crypto and its underlying technology, the blockchain.

All this led to the fact that for people who dream of buying a property there, crypto is the safest bet, and the UAE is supporting this. As a result, a lot of investors have moved there, and they’re enjoying secure transactions.

Buying real estate properties in the UAE with crypto is a great choice, and this is thanks to its cost-effectiveness and the ability for people to save time and energy that the processes involving money transactions usually require.

On the blockchain, after the payment is approved, the transfer is almost instantaneous, and there are no delays involved. Many specialized platforms such as Crypto Expat are dealing with supporting customers to buy properties in the UAE. Especially for international buyers, such a move will turn out very cost-0effective.

This is crucial in 2022, when the whole world is faced with a lot of financial issues due to the many crises that have been taking place on the planet for more than two years now.

Using crypto costs significantly less on international transfers compared to the traditional one. As you probably know by now, the banks are charging massive fees.

On the other hand, when you are using crypto, you will not have to deal with such hardships which involve extra charges. Digital assets are making instant transactions possible, and all this is happening at extremely low fees.

Experts conclude that Dubai, the wealthy city in the UAE, is one of the best places to be if you are a crypto enthusiast who is looking to live on digital assets.

“With no capital gains tax, ease of buying and selling (crypto) anonymously and spending with cash makes life very easy for an enthusiast (in Dubai).” This is what a source who spoke to the online publication BeInCrypto said.

“Compared to most industrialized countries, I would say that Dubai is one of the easiest and best places to come and realize and spend crypto gains. Being able to buy property and cars directly for Bitcoin is very unique and in many western countries not even possible,” they added.

 

The most important Dubai crypto events to look forward to in 2022

 

There are at least two notable events in Dubai for crypto enthusiasts, and they will both be taking place in October. Check out the two important crypto events that will make crypto enthusiasts’ fall great.

 

Blockchain Economy Expo 2022 Dubai

According to the official notes, the organizers of this event are proud to announce it – this is taking place for the very first time in the World Expo history. The event is hosted between October 1 and October 2.

“It is a great honor for us to be trusted to bring together the blockchain community in the city of Dubai, the high-tech capital of MENA, as part of the Expo 2020 Dubai in Dubai Exhibition Centre on November 14-15, 2021,” the organizers said.

It’s also worth noting the fact that the WORLD EXPO has been held for 170 years, and for the very first time, blockchain technology will be introduced to the world. The important thing is that this will be happening at the same level for countries, international organizers, and traditional businesses, according to the organizers of the event.

They also highlighted the fact that this is a genuine once-in-a-lifetime opportunity for everyone, for all crypto enthusiasts to come together and redefine the financial and technological world of the future. The truth is that traditional finance is definitely getting outdated from more points of view, and crypto, together with blockchain, represents the future.

The organizers also wanted to note the fact that Expo 2020 Dubai was planned to start in October 2020. But, as you might have already guessed, because of the covid-19 pandemic, it was delayed till the October of 2021. Now, finally, people who are into crypto and the blockchain have an opportunity to attend a blockchain event physically.

 

Future Blockchain Summit 2022

 

This is the second notable crypto event that will be taking place in October as well. This one is scheduled between October 10 and October 13.

According to official notes, the world’s leading and largest government-hosted Blockchain festival, Future Blockchain Summit, is back for a third edition hosted by Smart Dubai at Dubai World Trade Centre.

The organizers say that “the city of Dubai is mandated to have all government transactions on the blockchain and will be the world’s blockchain capital.”

Future Blockchain Summit is the official Blockchain event of Smart Dubai. This is the driving force behind the UAE’s Blockchain Strategy, and it is also poised to bring together global enterprises, blockchain startups, and government entities at the Summit. All this will be happening to boost crypto and blockchain adoption and to make this dream a reality.

According to the official website, during four days at the Summit, a lot of industry experts will be leveraging a lot of networking opportunities, an expert conference program, and also transformational workshops. All these will be exploring various themes, including “Blockchain for Enterprise, The Future of Digital Assets and Into the Metaverse.”

The official website of the event also cites an important speaker at the event from 2021, Changpeng Zhao, Binance’s CEO, and Founder:

“UAE a shining example of tech adoption. Things happen here very fast, it is one of the most pro business environments in the world, and things are built with real quality.”

Another important person who spoke back then, Robert Gryn, CEO at Metahero said: “Energized is the best way to describe what happened today at the Future Blockchain Summit – Metahero once again stealing the show. Between featured panels, numerous on-site interviews, and more conversations than we can count – we provided the Metahero experience to everyone, and it’s a powerful experience.”

 

Another notable event took place in March in Dubai

Back in March, another notable event took place in Dubai. It’s more than clear that there is a growing interest in digital assets in Dubai. People are curious about crypto, and they are looking for more varied investment opportunities. This is exactly what the motto of this specific event we are talking about.

Crypto enthusiasts were thrilled to learn that the Dubai-based organizer HQMENA announced the second edition of the largest crypto gathering.

Crypto Expo Dubai 2022 was an exquisite premier crypto exhibition and conference that brought together more than 100 crypto companies.

The event gathered a wide network of blockchain and crypto professionals from different exchanges, payment, and liquidity solution providers, ICO, NFT, and play to earn projects, metaverse, and extremely important industry executives and experts.

Crypto Expo Dubai 2022 kicked off on March 16, 2022 with industry leaders delivering their cognizance. Featured exhibitors showed off their products and services to the visitors at Crypto Expo Dubai 2022. The event took place at Festival Arena.

Leading Crypto Expo in MENA Region had high profile speakers listed as the following: Igneus Terrenus from Bybit, Lennix Lai from OKX, Wayne from Binance, Jeetu Kataria from DIFX, Allen Wei from LBank, Mohammad Khalifa from Garantex, Anndy Lian from BigONEexchange (Kishu Inu). All these important people delivered their thoughts, forecasts, and knowledge on the future trend of cryptocurrency.

It’s pretty safe to say that Dubai is indeed becoming a crypto hub and a blockchain first stop for enthusiasts.

Cryptocurrencies are delivering the most important influence on the financial ecosystem, and there is no doubt about this anymore.

Crypto Expo Dubai 2022 was an event of innovative discussion and networking that supported the rise of institutional interest in crypto and the blockchain. It was also focused on the growth of crypto-focused venture capital.

 

UAE is a global hub for innovation and the digital world

It’s important to note the fact that the UAE is already recognized all over the world as a global hub for crypto.

The Emirate’s adoption of blockchain, FinTech, and crypto technologies keeps developing in Dubai, and, at the same time, it is implementing frameworks in order for it to become more attractive for companies in these sectors.

Dubai is set to be the world’s new crypto capital

More relevant publications are already naming Dubai as an important crypto location. For instance, News 18 just named the location as being on the right path to becoming the next crypto capital. The article noted that Bybit, which is a crypto exchange based in Singapore, revealed recently that it would relocate its headquarters to Dubai. This month, it will begin operations there.

There is another important announcement that has been made by Crypto.com – this is a Singapore-based crypto exchange that stated the fact that it will create a regional hub in Dubai. They also noted that they would begin an important recruitment drive in the upcoming months. The exchange also said that they have a customer base of more than 10 million people from over 90 countries already.

Forbes also addressed the issue and revealed important quotes.

“Bybit looks forward to contributing to the virtual assets innovations of the emirate’s vibrant economy and having our global headquarters in Dubai.”

This is what Ben Zhou, co-founder, and CEO of Bybit recently stated. He continued and said this: “This in-principle approval is an extraordinary opportunity for Bybit to support the United Arab Emirates and the wider region’s ambition to become a global virtual assets technology hub.”

They also mentioned the fact that Crypto.com plans to become a massive presence in the crypto space in Dubai.

It’s extremely important to note the fact that both platforms are two of the leading platforms in the crypto space.

If you are wondering how come these two platforms decided to move to Dubai, well, the main trigger that led to the move is the new regulation which is part of the UAE’s drive to become a global crypto hub.

Forbes also mentioned the fact that Binance just won a license in mid-March to operate its regional business from Dubai. It’s also been revealed that the European affiliate of crypto trading platform FTX has announced that its regional office will be there as well.

Starting a new life in Dubai is a viable choice in 2022

A lot of people have been giving it a thought about whether to start a new life elsewhere and get second citizenship or residence. As we already explained, Dubai has become one of the favorite locations that crypto enthusiasts are choosing these days, and the reasons are many.

After two years of nightmare pandemic, new tensions are flooding the world, and this time, they are stemming from the Russia-Ukraine war. No wonder people are thinking about relocating, especially from the problematic areas.

The question of whether you should be considering moving to Dubai has the answer yes coming from a lot of people these days. There are a lot of reasons for which people choose this.

According to official reports, it’s been revealed that the UAE government has launched a new initiative that allows foreigners over the age of 55 to settle within the country.

The same notes reveal that residents under this Visa will have to obtain their own health insurance policy. It is also important to note that they will have to meet at least one of the following financial criteria:

“Earn a minimum monthly income of AED 15,000

Hold a minimum of AED 1 million in cash savings in a UAE bank account in a three-year fixed deposit

Own a property worth at least AED 1 million within the UAE.”

As a conclusion, “this new visa will allow retirees to live in the country for five years, which will automatically be extended.”

 

Get a visa easy in Dubai and use crypto to purchase a property there

Probably contrary to your expectations, getting a Visa for moving to Dubai is not as difficult as it may seem in 2022. There are specialized companies such as Crypto Expat, which are eager to help their clients move there and, who knows, maybe even start a business and enjoy all the benefits of developing it in the UAE.

The UAE has to offer enormous and growing business stability, huge markets, steady growth, a tax-free regime, and all kinds of investor-friendly processes.

It’s great to know that all kinds of innovative business models can be created in the UAE. As we already explained, the fact that the location is crypto-friendly is vital, and this is the safest option that people have here for making payments and doing business.

More and more people choose to spend their wealth in Dubai, and a lot of individuals see the many reasons for which real estate is a great choice. Speaking of crypto, digital assets allow the buying of any property in the UAE safely, easily, and quickly.

This has been one of the main reasons along with the tax-free regime in Dubai that led people to decide on moving here.

 

Conclusion

Traditional finance has become flawed over time. Transactions between banks take days; it also turned out that we are not even the owners of the fiat money that we have stored at the bank; the government can freeze our bank accounts any time they see fit and more.

This is where crypto enters the building. Using crypto has turned out fantastic for a lot of people, and the benefits of crypto and the blockchain are the ones triggering the mass adoption of digital assets.

This has been probably the most important goal that was set in stone by the crypto space, and the resilience and strength that the digital assets have proved only come to support the mass crypto and blockchain adoption. Crypto and the blockchain reflect the future, and important companies and enterprises are already understating this. Do you?

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Crypto News Crypto Nomad Lifestyle

8 Best Crypto-Friendly Countries Where You Can Invest Your Wealth In 2022 – What Makes Dubai (UAE) Your Best Bet

Financial security is imperative in 2022, and people have probably figured this out by now. Traditional finance is getting riskier by the day, and we have plenty of examples to support this statement. Just take, what’s been going on in Russia as an example. You should be aware of what’s going on there following the latest sanctions that the country saw after their President’s actions against Ukraine.

As the press agency Reuters recently revealed, crypto companies in the United Arab Emirates are being flooded with tons of requests from Russian people who are trying their best to liquidate billions of dollars of digital assets. They are currently seeking a safe haven for their fortunes, according to many financial sources.

At the moment, due to the sanctions, they cannot use their credit and debit cards emitted by Visa and Mastercard by Russian banks. What’s terrible is the fact that they cannot use them anywhere in the world. It’s safe to say the fact that this is the main reason for which they turned to crypto following the sanctions that Russia saw.

 

Why traditional finance is not safe – crypto is the answer

Coindesk, which is a crucial crypto publication, notes that the crypto firms based in the UAE have been seeing tons of requests by Russian clients to liquidate billions of dollars worth of digital assets.

More than that, also think about Canada, and the fate of the Truckers Convoy – their bank accounts were frozen as well, and this happened due to the fact that they protested against their government. What does this tell us? In terms of fiat money and traditional banking systems, we are not exactly the owners of our wealth, and it is more than serious in 2022.

But luckily, after the capital’s streets had been all cleared of the trucks following three weeks of protests, the Canadian authorities eventually lifted the freezes of hundreds of bank accounts that were associated with the protest organizers and the Canadians who had blocked Ottawa’s streets.

Isabelle Jacques, an assistant deputy minister in Canada’s department of finance, told a House of Commons committee that the banks had begun unlocking accounts not too long ago and that no more finances would be locked up.

“The vast majority of assets are in the process of being unfrozen,” she said.

Just to refresh your memory, when Prime Minister Justin Trudeau decided to invoke his country’s Emergencies Act for the first time in Canadian history to quell the unrest, it gave the police sweeping new powers to go after the finances of the protesters. People all over the world freaked out at this idea – the fact that someone can gain control over your finances due to your political preferences.

Jacques said that those measures are now being lifted because they were intended to pressure protesters to leave the city’s streets, according to reports coming from New York Times.

Crypto prevents this from happening, and what had been going on in Canada has been basically advertising the benefits of crypto.

After two years in which we suffered enough amidst worldwide lockdowns due to the pandemic, not being able to use your own money during such stressful times can be a nightmare. More and more people understand that having your money kept in banks takes away the control that you have over your own wealth, and this is the last thing someone would want, especially during the troubled times in which we live.

This is where crypto steps in and boosts the game. Crypto and their underlying tech are exactly what’s missing from our financial needs in 2022 – freedom and ownership over our own wealth.

Do we need crypto?

Long story short, the answer is yes, you definitely need crypto in 2022. Besides the fact that digital assets are one of the best investments that you can make this year, Bitcoin and crypto in general turned out to be a store safe haven as well.

Crypto started as a bold project, but it was seen as extremely and highly volatile. Thankfully, times have changed, and so did crypto. These changes that we are referring to have been exciting and fascinating.

As the publication Morning Star notes, with the advent of crypto ETFs in Canada, retail wealth managers are still trying to find a reason for which crypto should be a part of client portfolios.

“When we look at traditional assets, we’re looking at long-term trends to produce alpha. For example, when building a portfolio of stocks, you’d be looking at factors such as price, profitability, and market cap. These principles don’t apply when looking at crypto for various reasons, and therefore it isn’t easy to compare,” – this is what Adam Henry, investment associate and resident crypto expert for Harbourfront Wealth Management in Winnipeg, said.

Given the lack of information, “the best way we approach this question is to look at where the client is from a time horizon perspective to retirement.”

Henry also made sure to point out the fact that a specific allocation could be the right thing to do if the investor is in an accumulation phase. This is recommended only as a speculative bet, and at most 5%.

It’s also worth noting that the sole benefit Kemp says crypto has is that it would be a portfolio diversifier.

“However, diversification expectations should be driven by some fundamental characteristics of the asset the security and supported by limited supply,” he said not too long ago.

On the other hand, all the crises that humanity had been seeing since the start of the pandemic back in 2020 have shown the same thing – crypto turned out to be a resilient and strong investment. It offers people to opportunity to be their own wealth guardians.

 

Benefits and risks of investing in crypto in 2022

As with any investment out there, of course, investing in crypto comes with its own risks and also benefits as well. Forbes recently released a piece on the risks and advantages of investing in cryptocurrencies.

The article posted by Forbes is called Benefits and Risks of Buying Bitcoin for Your Retirement Plan.

The author addresses retirement savings accounts and analyzes whether it’s a good choice to invest in crypto thinking about retirement plans. Forbes quotes an important person and notes the following:

“Cryptocurrency is digital currency that’s not part of a bank and is designed to be free from government control — or perhaps better put, a digital, decentralized currency,” This is what Stuart Robertson, CEO of ShareBuilder 401k in Seattle said.

He continued and explained the following: “It can be used for the purchase of goods and services wherever it is accepted, and items may be bought anonymously.” He also made sure to explain the fact that Bitcoin is the most popular player in the crypto space, but there are also other digital assets that are worth taking into consideration.

The prestigious publication also talks about the recent push to allow retirement plans to invest in the new industry of cryptos and their underlying tech, the blockchain. This push is not coming from the people who profit from sales but also from beginner investors, according to the notes.

“With over $32 trillion in retirement funds and approximately $12 trillion of IRAs, most Americans use the retirement system as their primary source for wealth accumulation.”

This is what Adam Bergman, CEO, and Founder of IRA Financial in Miami Beach said. He also said that most of American people are using their retirement accounts as their main savings vehicle. But with the massive popularity of crypto which is still on the rise, more and more people are turning towards digital assets these days.

Bergman also explained the fact that crypto is still highly volatile and all investors who are interested in the digital assets used for retirement funds should proceed with caution.

“It’s not just the performance history, but cryptocurrencies come with other risks,” says Jahon Jamali, Co-Founder and Chief Marketing Officer at Sarson Funds in Sherman Oaks, California. He continued and said that this asset class is still young and there should be high investor protection involved as a result.

 

Reducing investment risks

Forbes also addresses the ways in which the risks can be reduced. The investment industry is constantly looking and finding ways to reduce these risks by merging unregulated products with regulated ones. This is happening regardless of the fact that it’s not very clear how much protection this move is actually offering. But this does make the digital assets less compatible with the generally accepted retirement plan platforms and frameworks well.

“Some of the current push may be a result of recent development of investment products that now allow investors to invest in Bitcoin-related returns in publicly registered funds that are regulated under the Investment Company Act of 1940,” says Karan Sood, Head of Product Development at Cboe Vest in McLean, Virginia.

She explained that these products offer protection for investors and this protection is expected following having to deal with regulated funds. She said that some mutual funds are currently already implementing investment strategies that offer Bitcoin and crypto exposure while controlling extreme volatility.

Financial professionals are beginning to see how these new instruments are sliding nicely into the standard portfolio management strategies and tactics as well.

Diversifying your portfolio is starting to look different already and people are now revolutionizing their retirement savings with crypto. This is all part of a new wave of economics that can defend people from massive inflation.

Even if it’s highly volatile, Bitcoin has already managed to historically over-performed every other asset class during the past five years.

Experts’ overall conclusion is that the speculative nature of Bitcoin and crypto requires careful risk management and it’s more appropriate for people willing to take such risks.

 

A new survey on crypto investment is out

there’s a brand new survey on crypto investment that was revealed a few days ago. CNBC addressed it in their new article. The conclusions include the fact that one in five Americans invested in or traded crypto – this is what the new NBC News poll found out.

This is yet another sign showing the fact that the mass adoption of digital assets continues in 2022. This has been one of the most important goals that the crypto industry has set, and things have been going on the right path towards the achievement of this bold target.

Cryptos had shown their strength and resilience, especially in times of crisis such as the terrible 2020 – the year when the pandemic which managed to change our lives probably for good began.

According to CNBC, “half of the men between the ages of 18 and 49 said they have dabbled in crypto, the highest share of all demographic groups.”

More than that, according to the statistics, 40% of Black Americans said that they have already used or traded crypto, and 42% of all the people between 18 and 34 years old said the very same thing.

21% of the 1,000 Americans polled said they have at least once used or invested in crypto and this is showing the fact that there’s a youth that is interested in this industry.

Crypto enthusiasts highlight the fact that Bitcoin, Ethereum, and more crypto assets are offering higher transaction speeds, lower costs, high privacy and security, and also an opportunity to offer the underbanked communities financial services as well.

 

Best 8 crypto-friendly countries to invest your wealth in

We can say that a country is crypto-friendly if it marks two essential things: a certain degree to which it regulates crypto and the degree to which it taxes the digital assets. Rules about crypto are getting tighter all over the world, and this is one of the main reasons for which nations which remain friendly with the innovative industry are worth being taken into consideration by people who are considering relocating.

Here are the best crypto-friendly countries listed by NASDAQ that you might want to visit or move to.

 

Portugal

Here, the tax authorities adopted a really soft stance on crypto investments. It’s important to note the fact that Portuguese law is known to be extremely crypto-friendly. People here are taking advantage of the purchasing and selling of crypto and are not taxed on the capital gains, and this is a pretty big deal in 2022 when regulators are after crypto like there’s no tomorrow.

NASDAQ notes that the individual investors who are worried about income tax levied on payments that are received in crypto Portugal are very favorable.

On the other hand, it’s important to note the fact that for companies in Portugal, things are quite different. For the firms that receive payment in crypto, there are capital gains taxes that are applied.

Portugal’s tax authorities are quoted as stating that “an exchange of cryptocurrency for ‘real’ currency constitutes an on-demand, VAT-free exercise of services.”

As a conclusion for this country, individual cryptocurrency investors would be wise to consider the country of Portugal for its helpful stance on taxes. But it should be remembered that firms aren’t afforded the same leniency. In other words, it doesn’t seem likely that a wave of companies will be moving to Portugal anytime soon for the benefits.

 

Switzerland

The country is known and loved for a lot of things, but in terms of financial issues, it’s known for its Swiss banking standards. These allow for the highest level of privacy with very low-risk levels, and this is extremely important in 2022. It does not come as a surprise that this country has very soft regulations for crypto investors as well.

According to NASDAQ’s notes, “the unique system of regions into divisions called cantons plays heavily into what can and cannot be done. Each of Switzerland’s 26 cantons has its own legal definitions regarding the treatment of cryptocurrency.”

Singapore

The country is popular these days for having one of the most stable and developed economies in the whole world. This is also one of the best places in the world to do business. The country is known as a hub of fintech in Southeast Asia.

The central bank is the Monetary Authority of Singapore. This entity believes that the crypto ecosystem must be monitored to prevent laundering and other illegal activity. On the other hand, they also believe that innovation must not be stifled. All this makes Singapore a balanced regulatory and legal environment for crypto.

 

Germany

Germany sees crypto as private money, and digital assets are not treated as legal tender across the whole nation. The laws involving digital assets favor long-term buy-and-hold investors. It’s important to know the fact that traders of crypto may want to reconsider their plans to use the country in order to avoid taxes. People who have been holding crypto for more than a year will not pay any tax on it regardless of the value. But, according to official notes, investors who are holding digital assets for less than one year, capital gains taxes are levied on amounts above 600 EUR (approximately $712).

Also, it’s good to know the fact that corporations in Germany are subject to capital gains taxes. So for crypto investors with a longer-term view, Germany is an attractive nation to be a part of.

 

Malta

This small island nation in the Mediterranean has been heaven for crypto investors for a long time now, and things continue to remain unchanged, a lot of crypto exchanges and blockchain projects are operating here due to the massive friendliness of the country towards the digital assets.

Malta welcomed the important crypto exchange Binance after Hong Kong tightened its regulations, and the exchange was welcomed here in a friendlier jurisdiction.

 

Cyprus

This is another Mediterranean island nation that is known for its pretty chill attitude toward crypto, including Bitcoin. Although crypto is not yet regulated here, the country seems to be on a great path toward this move.

According to new reports, the Central Bank of Cyprus is currently looking to be worried about a potential loss, and as a result, it issued official guidelines about crypto risks as far back as 2014. It’s also important to note the fact that the Cyprus Securities and Exchange Commission has established an Innovation Hub. Here, entities can share knowledge in line with their mission to ensure investor protection within regulated entities. But, all in all, regarding the use and acceptance of crypto in Cyprus, things are definitely open.

 

Bermuda

This is another country that is recommended for those people who are crypto enthusiasts.

Here, one interesting thing that is worth highlighting is that Bermuda’s Digital Asset Business Act 2018 sets out its regime for regulating individuals and entities who are undertaking the following:

  • “issuing, selling, and redeeming cryptocurrency and other digital assets;

  • operating as a crypto payment provider, including the provision of services for fund transfers;

  • operating a cryptocurrency exchange and providing wallet services;

  • operating a cryptocurrency services vendor.”

All these elements that we just mentioned above are basically dictating the things that constitute digital business in Bermuda. The location levies zero income and capital gains tax.

 

UAE

UAE is another crypto-friendly location, and this is the main reason why a lot of investors are migrating to Dubai these days.

We’ve already addressed the fact that crypto companies in the UAE are currently flooded with Russian who are trying their best to liquidate billions of dollars of crypto. They are currently looking for safe havens for their fortunes, and this is due to how crypto is viewed in the UAE. Dubai is a real paradise for crypto lovers, and there are a lot of signs that support this affirmation.

The UAE is currently operating free zones, which are locations where citizens and nonresidents can incorporate firms to get visas and trade licenses.

Platforms like Crypto Expat are getting the importance of getting a Visa quickly for those interested. According to the official website, Crypto Expat can help prepare a Visa for all individuals who want or plan to retire to the UAE. This way, people can get the chance to build their company easily and enjoy all the benefits of developing it in the UAE.

The UAE offers growing businesses stability, larger markets, steady growth, investor-friendly processes, and a tax-free regime.

The UAE has regulatory approaches for crypto, and the crypto regulation in Dubai, as an example, is a move into the future. The city introduced a regulatory framework for crypto not too long ago, and by introducing crypto regulation, Dubai moves forward into the future and rides the wave of innovation.

The target is to create a comprehensive legal framework. This is set to protect investors and also to get more virtual asset startups to do business here in the UAE. This latest move that’s taking place regarding crypto regulation is nothing else than a promising development of the crypto space industry in this location.

 

What makes UAE an excellent choice for crypto investors?

It’s important to note the fact that the countries that are included in the European Union are seeing some important changes these days.

The whole crypto space has been shaken by the decision that the EU Parliament took a few days ago. They voted for new regulatory measures. These are basically prohibiting anonymous crypto transactions.

Decrypt online magazine notes that the vote was first reported by CoinDesk, and soon after confirmed to Decrypt by Valeria Cusseddu, advisor to the Committee on Economic and Monetary Affairs.

“The ECON and LIBE committees voted to approve a proposal that would require cryptocurrency service providers, such as exchanges, to collect personally identifiable information from individuals who transact more than 1,000 euros using so-called unhosted cryptocurrency wallets,” according to the same online publication mentioned above.

Though votes on several amendments were tight, the final draft was overwhelmingly approved.

Europe is seeing some changes that will definitely affect the crypto space a lot, and investors are not happy – this is one of the reasons why the UAE is an excellent destination for crypto enthusiasts these days.

When you say crypto, you actually say freedom – this is what Satoshi Nakamoto, the Bitcoin creator, had in mind when he created the king digital asset.

Crypto enthusiasts are doing their best these days in order to try and preserve this vital feature that digital assets have – individuals’ freedom.

 

Closing words

The countries mentioned above are some of the best locations that crypto enthusiasts can choose these days. There are more locations around the globe that plan to regulate crypto exchanges with licensing programs.

This means that businesses will have more and more opportunities, and entrepreneurs will have to do a lot of research on these new locations in order to make up their minds before being able to make a final decision. It’s great to know that there are a lot of places around the world that celebrate cryptos and which offer investors great opportunities. Living in a crypto-friendly country is essential in 2022, and the reasons are getting stronger with each passing day.

Categories
Crypto News Crypto Nomad Lifestyle

Start a New Life In Dubai – Tips To Prepare For Your Second Residence and Citizenship

We’ve all given it a thought every now and then of what it would mean to start fresh. Did you? Well, we bet you did, and there is nothing wrong with this. The past few years have been anything but ordinary, and we believe that it’s safe to say that they have been pretty eye-opening and mind-blowing. The pandemic has people shifting focus now that we’re getting close to its end. We are trying our best to leave the fear and terror behind. We want to get back to what we used to call a normal life – or at least as close as possible to what we used to call normality.

It’s only fair that a lot of people these days are thinking about relocating and starting over again, especially in a much safer and sunnier place. Following more than two years of gloomy nightmares that managed to change reality and freedom as we used to know them, relocating and starting over seems the best way to turn the page. Check out the most critical issues that this life transition involves.

 

The best reasons to move to a new location

Especially after retirement, people are giving much thought to relocating. There’s even a survey from the TransAmerica Center for Retirement Studies that found the fact that almost 40% of retirees have reported moving following their retirement. Usually, people are motivated by more reasons before taking such an important decision in one’s life. There are various benefits and advantages, both emotional and financial/material, before someone makes such a decision. Check out the best reasons to move and start a new life.

 

Starting fresh and enjoying a brand new adventure in your life

It’s important to note the fact that retirees are often moving someplace new in order to lower their costs of living. But this is not the only reason for which they are taking such am an important step in life. Moving, especially after retirement, also means that people have a chance to start the next phase of their lives in a brand new home. Leaving behind the comfortable and familiar surroundings might seem like the scariest thing out there. If you are truly open to an adventure in a new location, the fact that you will meet new people and see new things will make up for all that you are leaving behind. Sometimes it’s good to enjoy a fresh start.

When you move and change location, you probably took this decision because you might have more spare time on your hands, and this can be used to devote to your interests. You might also find places that are better suited to those interests.

Before you move, it’s pretty useful to think about the kind of place in which you would want to spend the rest of your life or at least a part of it. There are more official resources that can help as you identify potential homes that feature the amenities which are important. These are transportation, access to health services, affordability, and more.

 

Lowering the costs of living

One of the best reasons that people say they take into consideration before changing locations is the cost of living. Obviously, you would want to move somewhere less expensive compared to the previous location. The whole idea behind this is to reduce expenses and enjoy your retirement income more. But it’s imperative to note that moving somewhere else can help people maintain the same quality of life but with less money. Once you understand this, you are good to go.

 

Main factors to consider before relocating

 

But, before you move, there are a few things worth taking into consideration. Check out the three factors that you definitely have to consider before relocating.

 

Choose the location where you want to live

Choosing the location where you want to live following your retirement is a big deal; thus, it’s definitely a big decision. This may turn out to be the place where you will live for the rest of your life, so you definitely have to put all your efforts into it. It’s definitely worth taking the time to know where you will be the happiest. Most retirees are moving to warmer locations (such as the ones in UAE) where they can enjoy lower to zero taxes.

 

Climate, surroundings, amenities, medical care

You should definitely move to a location that has your favorite climate. You have to decide whether you want to live an endless summer or you rather live somewhere where you can experience all the four seasons. You should also take into consideration the ways in which the weather affects your ability to have fun. Maybe you’ll want to lounge all day on sunny beaches, or you might want to hike through snowy mountains. It’s all up to you, but these are factors worth considering. Medical care is another essential factor that you have to think of when you decide to move abroad. It’s important to analyze medical care access, quality, and healthcare costs.

Let’s take UAE, for instance, because it’s one of the most loved locations that people choose. When you say UAE, you say freedom. The advantages that the location offers people make it one of the best choices for retirement. Here, the rent and living expenses are not what you expect – you can live here hassle-free and maintain your wealth without spending more than you can afford. The healthcare system is also one of the most advanced in the world. The country flaunts state-of-the-art healthcare facilities, and some of them are the best in the region. It’s highly important to note that residents, including expats, can access state health services at a 50% reduced rate if they purchase a health card. These are aspects that people should highly consider before making their final decision.

 

Considering moving costs and financial benefits

Before you move, you should also consider the costs that such a decision involves. You have to make sure that you definitely understand the ways in which relocation will be affecting your income. You definitely have to think about things from a financial perspective as well. We strongly advise you to choose a location that is crypto-friendly. Why? Well, because, as we already revealed in previous articles, crypto means the future of finance, and it’s important to live in a location that understands this. We were referring to the UAE above – the nation is also keen on crypto, and this is essential.

UAE understands the benefits of allowing the use of crypto in 2022. Digital assets are the safest option that people have regarding purchasing goods and making payments. Using crypto in order to buy a property in the UAE, especially for international buyers, turns out to be really cost-effective. It’s good to note the fact that using crypto costs less on international transfers and payments compared to the traditional ones. Banks are charging massive fees, but using crypto brings hassle-free aspects involving extra charges. With crypto, you can make instant transactions and low prices.

Purchasing real estate properties in the UAE using crypto is an amazing choice thanks to its cost-effectiveness but also saving extra energy and time that the process usually requires. Acquiring possessions and settlements of the properties is a tough process otherwise.

 

Prepare for the second citizenship or residence

This is probably the most important step when you decide to move abroad. It’s a step that cannot be eliminated, and this is the reason for which we are dedicating it a big chunk of our article.

 

How to prepare for your second citizenship or residence – best tips

 

We bet that your main goal is to go somewhere where you are treated best. This is what the ideal immigration scheme is all about in the end when someone decides to get a second residence or second citizenship.

While applying for a second residence or second citizenship can turn out to be a hassle, there are some things worth considering before making this decision for the best results.

Anyway, before you get on with it, you first have to understand the difference between a Visa, a second residence, and second citizenship.

 

Visa vs. second residence vs. second citizenship

In order to perfectly understand the difference between a Visa, a second residency, and citizenship, it’s highly important to perceive the Visa as the key that allows you to legally unlock the bordering doors that are sealing a country and walk in there. It’s also important to note that a Visa’s validity varies, and this depends on the country or the territory that you will arrive in. For instance, for some Visas, there are 30-day, 60-day, and even 90-day visas – while other countries might give off a more generous 180-day visa.

Regarding the citizenship/residency issue, it’s important to highlight the differences between second citizenship and second residency. They have similar advantages:

  • You will have the ability to travel without a visa.
  • You will be able to live in the country without any schedule restrictions.
  • You will receive the privilege of opening bank accounts as a local.
  • You will be able to work and do business in that particular country.
  • You can add in any dependents under certain conditions.

It’s also important to note the fact that if you only opt to become a second residence holder, you may not be able to enjoy the right to vote. More than that, you probably will not be able to enjoy proper national insurance where you choose to live.

Having a second residence or citizenship can turn out very beneficial, especially if you want to have a backup just in case things go wrong in your birth country. Take the Russia/Ukraine case, for example.

We’re seeing massive geopolitical tensions stemming from the war between the two countries. It’s no wonder that people are leaving these countries as soon as possible.

Ukrainians are fleeing for the safety of their lives, and the Russian people are going away due to the harsh actions of their president.

Following the sanctions that Russia has been seeing, the Russian people are being punished. In case you don’t know, the largest credit cards networks, Mastercard and Visa, and PayPal, which is the internet payments giant, have recently said that they suspended services in Russia. This means that the credit cards issued by the Russian banks will not be working outside the country anymore. Such a terrible event is an example of the importance of being able to spend your wealth safely.

 

Best five tips and tricks to get ready for relocating

 

  1. Changing the traditional mindset

When you change your location, you might end up in a country where you would be treated differently due to their culture and different ways. You have to be ready for such a thing and change your mindset in order to be able to mold your expectations according to the location where you are. Let’s say that you’re moving to the UAE thanks to the great benefits that come from relocating here.

If you are applying for a second residence or citizenship in another country, you have to be ready for all the challenges that come with this new adventure in your life – you definitely have to change your mindset.

The UAE currently has one of the strongest economies in the Middle east. An amazing aspect of living here is that all income is tax-free. In other words, residents see huge financial freedom here. And if you take this benefit, combined with extraordinary economic stability, all these make UAE a great place to retire to. Here, you will find pretty much every fun activity that you can think of and all the glitz and glam that you could ever desire. Considering that the majority of people living here are foreign-born expats, Dubai and UAE, in general, is a multicultural location that welcomes people of all nationalities.

 

2. Getting ready for the fees

If you are applying for a second citizenship or residence, you should also be aware of the fact that you might have to get out of your pocket a lot of money for all kinds of fees. There will be all kinds of administrative costs involved in this whole move. These sums will vary depending on the country of your choice.

You will have to deal with lawyer fees, application fees, and more expenses that may occur. These can include medical bills for biometrics or for getting a new driver’s license there.

 

3. Molding your mind like the ones of bureaucrats

When you decide to apply for a second citizenship or residency, in order to ease this process, it could turn out helpful if you view things from the other side of the looking glass. This is what more experts are saying. You should get used to thinking like a bureaucrat at the table who will process all the necessary paperwork, check all data, and pass on the baton to the very next stage.

 

4. Saving money

Saving money is extremely important at all times. This will turn out useful, especially if you want to move. You can save money in your bank or set some alternative wealth aside, such as cryptocurrencies. These are vital these days as we have already explained.

The industry of digital assets has been growing in popularity. Probably the most important and relevant thing about this is that it’s been mostly happening in times of crisis for humanity. Just think about it. Since 2020, when the pandemic struck the planet, cryptos have been showing their resilience.

Digital assets have been flourishing despite market volatility and geopolitical tensions. Bitcoin has definitely gained its status as a hedge against inflation, and it managed to become a safe haven for a lot of people. Crypto, in general, has been showing strong signs that it’s maturing, and the continuous mass adoption of digital assets and their underlying tech that we are seeing today is the best argument that supports this. Crypto and blockchain represent the future, and you should definitely pick a country that prefers to ride the wave of innovation rather than hide from it.

It’s also important to note the fact that you have to have a fat bank account in order to show the authorities that you can sustain yourself in their country and that you will not turn out to be a financial burden for them.

 

5. Updating official documents

Before you leave for another country, you have to make sure that you have your medical and criminal records updated. You have to make sure that all your paperwork is updated and verified as well.

The government in the country of your choice will want to make sure that you at healthy and that you will not be spreading any kind of sickness wherever you are going. Thus this is pretty understandable, thinking about the last couple of years and what we’ve been through with the novel coronavirus pandemic.

These are all things that have to be taken into consideration in order for you to be well prepared for moving to another country.

 

Why you should consider retiring in Dubai

The last section of our article refers to Dubai and the UAE in general and the reasons for which we advocate for relocating there.

Living in Dubai can become anyone’s dream come true. You can make such a location your dream forever home, and with the help of professionals and experts, this is possible these days.

According to official reports, it’s been revealed that the UAE government has launched a new initiative that allows foreigners over the age of 55 to settle within the country.

The same notes reveal that residents under this Visa will have to obtain their own health insurance policy. It is also important to note that they will have to meet at least one of the following financial criteria:

“Earn a minimum monthly income of AED 15,000

Hold a minimum of AED 1 million in cash savings in a UAE bank account in a three-year fixed deposit

Own a property worth at least AED 1 million within the UAE.”

As a conclusion, “this new visa will allow retirees to live in the country for five years, which will automatically be extended.”

 

 

Overall benefits of living in Dubai

There are all kinds of social, financial, and spiritual benefits of living in Dubai. You’ll be enjoying your highest spirits all year long thanks to the weather there and the overall upbeat energy that you can find in UAE.

You will be able to spend every day soaking up in the sun and relaxing under the sun’s golden rays.

The strong economy that Dubai has will turn out to be your new best friend. All income here is tax-free, and this means that residents have greater financial freedom while they live here. This is mixed with economic stability, and all this makes Dubai the best choice for you.

As we mentioned above, the fact that Dubai and UAE, in general, is a crypto-friendly location is fundamental in 2022 when it’s vital to be in control of your own wealth.

The lifestyle in Dubai is fantastic as well, and if you decide to retire here, you will never get bored. Also, the multiculturality will impress you for sure. Dubai is a genuinely multi-cultural melting point.

It’s also important to note the fact that Dubai is one of the safest countries in the world, and the crime rate here is shallow. The streets in Dubai are safe, and people are able to walk around even at night without any worries.

 

The ease of getting a Visa for Dubai

Obtaining a Visa for moving to Dubai is not as difficult as it may seem in 2022. There are specialized companies such as Crypto Expat, which are eager to help their clients move there and, who knows, maybe even start a business and enjoy all the benefits of developing it in the UAE.

The UAE has to offer enormous and growing business stability, huge markets, steady growth, a tax-free regime, and all kinds of investor-friendly processes. It’s great to know that all kinds of innovative business models can be created in the UAE. As we already explained, the fact that the location is crypto-friendly is vital, and this is the safest option that people have here for making payments and doing business.

 

Spending your wealth and purchasing properties in Dubai

More and more people choose to spend their wealth in Dubai, and a lot of individuals see the many reasons for which real estate is a great choice. Speaking of crypto, digital assets allow the buying of any property in the UAE safely, easily, and quickly. All the usual traditional hassle of buying a property can disappear by buying real estate with crypto for the ones interested. Among the benefits of using crypto in the UAE, there’s the ease of use and the high safety of transactions as well.

With the help of blockchain, after the payment is approved, there will be an instant transfer of the property, and people can enjoy their purchases without delays.

Using crypto to buy a property in the UAE, especially if you are an international buyer, will turn out to be extremely cost-effective.

Using crypto costs less on international transfers and payments compared to the traditional ones. Usually, banks charge hefty fees, but when you use crypto, you will not have to bother about such aspects involving extra charges. Cryptos make instant transactions possible at low prices.

 

Business in Dubai – getting into real estate

Dubai is one of the world’s busiest entrances to business, tourism, and trade. One noteworthy thing is that Dubai is ranked 1st regionally for ‘Ease Of Doing Business.’ All of this is due to the outstanding governance and policies implemented by the government.

More than that, it’s good to know that Dubai has a strong track record for securing foreign direct investment. The city managed to become the preferred global FDI destination for more than 70% of Fortune 500 companies.

Regarding real estate investments in the UAE, we have to mention the massive charm that is associated with this investment hotspot – the city is a tax-free haven, and it’s open to investors all over the world. More than that, Dubai has already been ranked as the 7th safest destination in the whole world for tourists, residents, and citizens.

Dubai maintains affordability, but at the same time, its status as a luxury destination offers investors a high return on investment. Owning a home in the exciting Dubai is a pretty fantastic thing, and you can also receive a residency visa for your real estate investment.

 

Closing words

there are a lot of reasons for which you should consider relocating before or after retirement, and we’ve covered most of them above. You also have some of the best arguments for doing it in Dubai. The most important thing to remember is that you should focus on the essential factors we’ve already mentioned in this article before making the most educated choice when getting your second residency or citizenship. This is the best way to be able to enjoy exciting lifelong results.

Categories
Crypto News Crypto Nomad Lifestyle

Top 5 Financial Reasons For Retiring In UAE – Crypto City Dubai Is Your Best Bet

More people are thinking about retiring abroad in 2022, and they are looking towards sunnier horizons. These days are filled with strong tensions stemming from the geopolitical situation involving Ukraine and Russia.

After two years during which the pandemic managed to change our lives, probably for good, people are getting sick to live in fear and uncertainty. The last couple of years have been beyond nightmarish. Right when we believed that we were getting closer to the light at the end of the tunnel, things were going mad out there again.

In 2022, investors are flocking to digital assets, and online payments are gaining a lot of traction.

More than that, there’s a growing number of institutional investors and wealth managers as well in the UAE. They plan to increase exposure to crypto assets between 2022 and 2023, according to a survey released by Nickel Digital Asset Management, based in London.

Digital assets are built around the secure blockchain database infrastructure. Crypto is also enjoying high interest from investors owing to potential high returns as well.

Ralf Glabischnig, who is the founder and board member of Swiss crypto hub CV Labs, had something interesting to state about the market in Dubai. He explained that this would “grow faster compared to anywhere else.”

More than that, he also made sure to attribute the current interest from investors and entrepreneurs to the emirate’s business environment.

“The most important thing when you create a new industry is talent. A lot of smart people came to Dubai and stayed here,” he stated.

The UAE introduced all kinds of measures to boost digital assets trading amidst the rising interest in crypto.

For obvious reasons, people are thinking about retiring abroad, to better locations. The UAE is one of the most popular choices that have people moving over there. In this particular article, we’ll explore the main financial reasons for which retiring in Dubai is a great choice in 2022.

 

UAE is a crypto-friendly location – Investing in crypto grants you financial freedom

 

This is the first main reason for which the UAE is one of the best potential retirement locations – understanding the benefits of living in a crypto-friendly zone is essential these days.

In 2022, financial freedom has become more important than ever. Just take a look at what Russians are dealing with these days, following the sanctions that their country is seeing due to poor decisions made by their leader.

As the press agency Reuters recently revealed, crypto firms in the United Arab Emirates are being flooded with tons of requests from Russians trying their best to liquidate billions of dollars of digital assets. They are currently seeking a safe haven for their fortunes, according to multiple financial sources.

Russian people cannot use their credit and debit cards emitted by Visa and Mastercard by Russian banks. They cannot use them anywhere in the world. It’s safe to say the fact that this is the main reason for which they turned to crypto following the sanctions that Russia has been hit with.

Coindesk, which is an important crypto publication, notes that the crypto firms based in the UAE have been seeing tons of requests by Russian clients to liquidate billions of dollars-worth of digital assets.

The online publication mentions that one crypto executive claims to have received a number of requests from Swiss brokers in order tons of requests to liquidate billions in bitcoin (BTC).

“We have one guy – I don’t know who he is, but he came through a broker – and they’re like, ‘We want to sell 125,000 bitcoin.’ And I’m like, ‘What? That’s $6 billion, guys.’ And they’re like, ‘Yeah, we’re going to send it to a company in Australia.'”

The same publication noted that there are other Russians are looking to use their crypto to invest in property in the UAE.

Dubai has been for a really long time a dream destination for Russians. These people have been among the top visitors and buyers of real estate there. It’s important to note the fact that this has been happening long before the Ukraine invasion began.

Another issue that is important to mention is the fact that the UAE has previously stated that the country is not siding with either Western allies or Moscow. UAE presidential adviser Anwar Gargash late last month, said the Gulf state “believes that taking sides would only lead to more violence.” He also said that the UAE’s focus was to “encourage all parties to resort to diplomatic action.”

 

1. Dubai – the crypto city and its culture

Dubai is the largest city in the UAE. It’s rising from the Arabian Desert, and it’s bordered by the Persian Gulf. This amazing city is said to be similar to an oasis. It’s worth noting that the multiethnic population, the jaw-dropping skyscrapers, and the pro-business atmosphere are the best contrast that you can have to such a landscape.

Dubai managed to emerge as a magnetic tax-free crossroads between worlds. The city is embracing its position as an international city that reflects perfectly the reality of the world – both controversy and progress.

As Cointelegraph notes, Dubai is now at the center of all kinds of global tensions, but the UAE has managed to gain a reputation as a neutral player.

Just keep in mind the fact that Iraq, Iran, Pakistan, and Afghanistan are on the northern side of the Gulf. You can find Yemen to the South.

It’s essential to highlight that the amazing mix of relative geopolitical neutrality, technologically advanced military, and also warm and extremely welcoming business environment invites comparisons to Switzerland. This is the mountain nation where European monarchs and aristocrats have long deposited their gold.

The same online publication mentioned above notes that Dubai Multi Commodities Center’s (DMCC) marketing materials boast the following fact: “Dubai gives you access to 65% of the world’s GDP in 8 hours or less,” owing to its location in the middle of Afro-Eurasia.

All this makes Dubai a natural meeting point between Europe, Asia, Africa, and the Middle East. This reality is both geographic and cultural – it’s worth noting the fact that foreigners make up almost 90% of the population. Dubai International Airport, or DXB, is among the busiest ones that you can find in the world. The venue handles about 88 million passengers per year.

There’s a massive expat population that gives Dubai amazing beating energy.

Despite the pandemic, 2021 saw this city hosting more important crypto events. Another important issue that’s worth noting is the fact that Dubai managed to keep covid under control, and this was partly due to the often mandatory testing that was required on arrival.

Back in May 2021, AIBC UAE, an artificial intelligence and blockchain summit, was held in Dubai Festival City. This was right near the construction site of the Dubai Creek Tower. After it’s completed, it is expected to rise even higher than the Burj Khalifa.

October 2021 saw more important events. Such extremely high-class events include the following:  Crypto Expo Dubai, the World of Web3 Summit, or WOW Summit, and the Future Blockchain Summit. The latter was a part of GITEX.

This is a massive technology conference where nations and huge companies have set up booths to present their best innovations to the world. The World Blockchain Summit even held there a charity boxing match between crypto influencers, as revealed by Cointelegraph.

 

2. Dubai is compared to essential reps of crypto culture

Dubai is like Silicon Valley, Miami, and Berlin when it comes to the crypto culture. But it’s definitely more traditional. Dubai is an indoor city with a corporate atmosphere. The Bitcoin 2021 in Miami was pretty much like a beach music festival in terms of energy and dress code; but Dubai is suited up all the way.

Kirill Mishanin, the co-founder of Infodriver Capital, says Dubai is an attractive place to set up a business:

“Dubai is very crypto-friendly and blockchain-oriented — you can easily set up a crypto-related company in the DMCC Free Zone with zero taxes. There are also a lot of events which the government supports, and it is easy to buy cars or property with crypto.”

Besides conferences, there are other crypto events held in Dubai as well. Some of them are organized informally, and others consist of networking meetups.

The city is very business-oriented, and the narratives around crypto’s perceived political goals are mostly absent here, unlike the huge visions of Silicon Valley hackers who are controlling their business from dark college rooms.

Free zones in UAE

The UAE is operating various free zones. These are places where noncitizens and nonresidents can incorporate wholly-owned firms in order to receive visas and trade licenses as well.

Thankfully, there are great entities such as the Crypto Expat company that understands the importance of getting a Visa easily for those interested. According to the official website, Crypto Expat can help prepare a Visa for all individuals who want or plan to retire to the UAE. This way, people can get the chance to build their company easily and enjoy all the benefits of developing it in the UAE.

The UAE offers growing businesses stability, larger markets, steady growth, investor-friendly processes, and a tax-free regime.

Anyway, getting back to the Free Zones issue, DMCC is a pretty relevant example of such a location. Besides the regular fare of gold, team, diamond, and coffee trading, it also hosts the dedicated DMCC Crypto Centre in the shiny Almas Tower. From there, it is overlooking the Dubai Marina.

This is the main location in which the blockchain companies are paying no taxes. More than that, here they can easily sponsor residence visas for owners, employees, and their families. Amazing, isn’t it?

One interesting thing that is worth noting is the fact that DMCC signed a deal back in 2021 to build a 100,000-square-foot precious-metals refinery. The essential issue is that it will use blockchain in order to track metal production and issue “financial assets in the form of stablecoins”. Such stablecoins include the following ones: GoldCoin, SilverCoin, PlatinumCoin, PalladiumCoin, and RhodiumCoin. All these are built on Ethereum. One unit represents one gram of metal.

More than 400 crypto businesses are now functional in the city. Ahmed Bin Sulayem who is the executive chairman and CEO of DMCC said that the number to increase to more than 1,000 by 2023.

According to official notes, this view is supported by Marwan Al Zarouni, CEO of the Dubai Blockchain Center. He recently said that Dubai could be seen as a city that supports crypto and its underlying tech – the blockchain. Dubai is also willing to create good and useful regulations for the industry.

“Five years ago, you wouldn’t see people coming to Dubai to do a cryptocurrency business. […] We’re open-minded, and we’re willing to change regulations with reason.”

Another important example of a Free Zone is Dubai World Trade Centre Authority (DWTCA) – this one has enacted specific regulations to help attract companies involved in crypto trading.  Maryam Al Suwaidi, CEO of the UAE’s Securities and Commodities Authority, has recently stated the following:

“DWTCA is looking to support businesses underpinned by blockchain and cryptographic technologies.”

Dubai is the heart of a lot of crypto companies, which include the exchange BitOasis, with MidChains located in nearby the capital of the UAE, Abu Dhabi.

3. Dubai’s financial infrastructure is next-gen 

Besides the fact that there are no taxes involved for corporations, the personal tax here for Dubai residents is 0% on all income of all forms. This is regardless of whether this is earned in Dubai or someplace else.

All crypto traders probably agree on one thing – this sounds like paradise! It’s important to note the fact that things are not quite so for citizens of the United States. The US is one of the only countries that taxes the global income of non-resident citizens.

Cointelegraph noted that due to the fact that we have no taxation here, tax return is a foreign concept, for instance. People here have no obligation to report their trading activity. But companies are required to keep their accounts in accordance with the rules of the Free Zone in which they are incorporated.

“A 5% VAT charged by non-Free Zone “mainland” companies is the only relevant exception, and non-residents can get tax reimbursed upon departure. The UAE’s fiat currency, the dirham, is pegged to the U.S. dollar at a rate of 3.67 dirhams per dollar.”

 

Another important issue that is worth noting is the fact that there are various local banks that are operating in the city. On the other hand, accounts are not generally available for tourists.

The lack of taxes that we have in this country, mixed with the fact that there are tough bank secrecy laws and opportunities for offshore corporate structures, caused the UAE to be temporarily added to the European Union’s tax haven list. This happened back in 2017, although it was removed, alongside Switzerland, in 2019.

Back in March 2021, the government revealed the fact that there is a drive for public feedback regarding crypto laws. They were particularly pertaining to the issuance of security tokens. With a soft-handed approach to regulation, trading cryptos could not be easier in Dubai.

 

Dubai to see over 1,000 crypto businesses in 2022

This year, Dubai is expecting the nation to see over 1,000 crypto-related businesses. They are expected to be operating during the massive efforts that the nation is showing in roder to boost its digital economy.

The free zones in Dubai and Abu Dhabi as well have already managed to implement an advanced framework in order to encourage entrepreneurs in the crypto space to set up exchanges while, at the same time, crafting rules and regulations that can protect consumers.

“Five years ago you wouldn’t see people coming to Dubai to do the cryptocurrency business … we’re open-minded, and we’re willing to change regulations with reason,” Dr. Marwan Al Zahrouni, chief executive of the Dubai Blockchain Centre, said at a conference held during Gitex Global in Dubai.

 

 

4. Dubai has a new crypto law – Four things worth noting about it

The residents in Dubai woke up on March 10 to breaking news that announced the introduction in Dubai of the first virtual asset regulation.

This shook the crypto space and left a lot of people wondering about the impact that it may have on their crypto investment and entrepreneurial projects. Here are the most important issues that you should know about the subject.

Check out the four essential things that you should know about this new law.

 

  1. Crypto regulation in Dubai is a move into the future

As we noted on various occasions, having regulatory approaches in the UAE for crypto is a step forward. The UAE continues to remain a jurisdiction that’s placed at the forefront of crypto regulation, and this is great. With this move of introducing crypto regulation, Dubai moves forward into the future and rides the wave of innovation.

It takes a step forward and the target is to create a comprehensive legal framework. This is set to protect investors and also to get more virtual asset startups to do business here in the UAE. This latest move that’s taking place regarding crypto regulation is nothing else than a promising development of the crypto space industry in this location.

 

  1. This is not the very first crypto law in the UAE

Expat Media reveals that this move that’s taking place in the UAE is not exactly the first one of its kind. But, if we want to deliver correct info, it’s imperative to note that the regulation has been revealed and presented in the media as the “first” crypto regulation in the UAE. It’s extremely important to note the fact that “the Security and Commodities Authority (SCA) has issued in 2020 Decisions No.23 of 2020 concerning Crypto Assets Activities Regulation, which applies to anyone offering financial services relating to crypto assets in the UAE.”

More than that, we should also note the fact that the Abu Dhabi Global Market financial free zone already features an exhaustive legal framework in place.

As a result of all the things that we mentioned above, the regulation is still important, and it brings further clarity and strength to the existing regulations in the UAE. This means that it should be welcomed by the crypto community with joy and excitement.

 

  1. Establishing a new independent regulator

This crypto law is establishing a new and independent regulator. This has the main purpose to set the very first authority, called the Dubai Virtual Asset Regulatory Authority (VARA).

This entity has the main goal of overseeing virtual assets activities in Dubai.

According to the official reports, VARA will also be responsible for regulating and licensing financial activities related to virtual assets (e.g., operating and managing virtual assets platforms, exchange services between virtual assets and currencies etc.).

It’s also important to note the fact that even though VARA has been described as an independent authority, there are plans for close cooperation between this specific entity and other onshore financial regulators such as the UAE Central Bank and SCA.

 

  1. The crypto regulation is limited to Dubai, but more will come

Last but not least, it’s important to note the fact that the crypto regulation is limited to Dubai only at the moment. We can expect more similar moves to take place in the UAE. Once the regulation proves itself useful and effective, and VARA’s implementation becomes final, VARA will be issuing more regulations and guidelines in order to set out the process and requirement of acquiring the following according to official notes:

“the technical security requirements imposed on Virtual Asset businesses, anti-money laundering and KYC obligations to comply with and others.”

Other important data implications will be involved, and an eye must be kept on the matter.

5. UAE’s plans for a government-issued digital asset could remove associated crypto risks

Unregulated cryptos are already popular in the UAE, and it’s essential to keep in mind that a government-issued coin could reduce the risks that are associated with crypto. Despite the fact that lots of crypto enthusiasts are saying that crypto should not have anything to do with regulation, it’s imperative that such regulations regarding the use of crypto are implemented. Only then the mass adoption of digital assets and their underlying tech can be achieved.

This has been one of the most important goals that the crypto industry has set its eyes on, and regulation is an essential ingredient.

Tech Monitor notes that the ‘govcoin’ or CBDC (central bank digital currency) is one of seven initiatives that have been set in place to boost the digital transformation of the financial services industry. It’s also important to note the fact that the CBUAE’s 2023 to 2026 strategy will involve something more.

We are talking about adopting the latest AI and big data solutions and also accelerating the adoption of cloud computing.

Not too long ago, the European Central Bank announced that it had decided to “launch the investigation phase of a digital euro project. “

Two UAE-based fintech experts talked to Tech Monitor and made sure to share their thoughts on the new digital currency plans and the likely obstacles to its implementation.

“Regulatory bodies should come with a solution that brings the benefits of crypto while eliminating the high risks associated with these products,” veteran CIO and fintech and digital transformation adviser Mohamed Roushdy told Tech Monitor.

He also said that introducing CBDCs would eventually eliminate the speculative nature of cryptos. It would also bring massive benefits, including lowering transaction fees and enabling high-speed transactions with high transparency and auditing.

“On other aspects, we see healthy competition among regional countries in being innovative and leading the region in fintech and start-up ecosystems,” said Roushdy.

He made sure to highlight the fact that the UAE has been leading; he made sure to note that it would like to keep that position of a leader when it comes to digital currencies.

 

 

Closing words

The shift to a digital economy is imperative today for all nations interested in keeping up with the times. It’s either riding the wave of innovation or being left behind. The UAE understood this perfectly, and it’s making strong efforts to shift to a digital economy.

Companies need to embrace the digital business model and innovative ways of thinking. They have to get on board with the future, and this is what Dubai is allowing businesses there.

This is a part of the UAE’s moves to diversify its economy and avoid a reliance only on the traditional export.

Relocating to Dubai is the best choice for all crypto enthusiasts and people with a fresh mindset and disruptive way of thinking.

UAE is one of the most luxurious and desired places on earth at the moment. There are a lot of reasons for which you will definitely want to spend your wealth here but one of the most notable ones is the extreme financial freedom and availability to embrace the future and new tech.

Categories
Crypto News Crypto Nomad Lifestyle

Top 3 Best Places To Retire In 2022 – The Most Attractive Locations to Spend Your Wealth

It’s 2022, and we’ve already been through hell and back. How? Well, our generation has seen a 2-year long pandemic that managed to change the normality of life as we used to know it. This has probably been changed for good.

Two years have passed since we probably started to value subjects such as health and freedom. During the pandemic, the freedom of movement was minimal, and this is one of the issues that become essential these days. Not being able to go where and when you please became the new normal. Now, people are definitely valuing their freedoms more than ever after all that we have been through.

More and more nations begin to lift the pandemic-related restrictions, and we can get back to the normal life we once knew, slowly but surely. Traveling is on the menu once again, and people have already started to pick their vacations for 2022. The most daring ones are even considering new locations to start over their lives, locations with more freedom and brighter days. In this article, we’ll review three of the best locations where you can choose to relocate and start a new life. But first, it’s important to address the main factors that you should consider before making your best bet.

It’s important to understand that before choosing your dream location, an expat destination, you have to first do your research and understand how easy it would be living there once you’ve arrived and how easy it would be to spend your wealth there as well.

International Living recently dropped an article called World Rankings: The Best Places To Live in 2022, in which the authors are addressing the best quality of life in the world. They address the best places to live with the best climate, the heathiest places, and the cheapest as well. This is definitely a go-to guide for you to check out as well.

But now, let’s get back to our own business and address the main factors that have to be taken into consideration when addressing the best retirement locations before you can make the most educated choice for the rest of your life.

International living essentials

Here are the most important factors to consider when picking out the best retirement location for you and your loved ones as well.

  • Purchasing and owning real estate – prices of properties

Of course, an essential issue to take into consideration when you’re planning a retirement abroad is the suitability of the property market that you will find there. More issues are usually overlooked, such as costs, legal and administrative procedures to own real estate. We’re currently living in a boom of real estate, and this means that you can find lots of places all over the world to choose from.

  •  Healthcare and entertainment – advantages and discounts

There are a lot of expensive countries out there, but with the best expat locations, you will definitely be able to find cheaper places that provide people more advantages about places to stay, food, clothing, healthcare, and entertainment as well. These issues should not be overlooked either.

  • Residency and VISA requirements

It’s true that retiring in a tropical location may seem the perfect fit for you or for anyone else, but this excitement can drop if you’re not planning and researching all the important details about the location carefully. People who want to retire in a certain country have to know for sure that they are free to do so. Living costs, ease of travel, ease of getting a VISA, climate, and other factors should be addressed as well before making an educated choice.

  • Arranging your finances

Being able to spend your money wherever you go becomes vital these days. Just take into account what’s been happening lately and how the Russian people are paying for the dreadful actions of their president. Following the sanctions that Russia has been seeing, the Russian people are being punished. In case you don’t know, the largest credit cards networks, Mastercard and Visa, and PayPal, which is the internet payments giant, have recently said that they suspended services in Russia. This means that the credit cards issued by the Russin banks will not be working outside the country anymore. Such a terrible event is an example of the importance of being able to spend your wealth has.

Before making the best choice for your retirement location, you have to consider all that’s related to finances: you have to apply for social security benefits before leaving the country, and you also have to choose a retirement income source. This has to be a source that will not be affected by international taxes or currency exchange rates.

Understanding the benefits of crypto is essential in this direction, but we will get back to the subject later on.

  • Understanding the importance of crypto in 2022 – the nations’ stance on digital assets

Crypto has been growing in popularity, and this is extremely important as it’s been mostly happening in times of crisis for humanity. Since 2020, when the pandemic struck the planet, cryptocurrencies have been showing their resilience. They have been flourishing despite the market volatility and geopolitical tensions.

Bitcoin has definitely gained status as a hedge against inflation, and it managed to become a safe haven for a lot of people.

Crypto, in general, has been maturing, and the continuous mass adoption of digital assets and their underlying tech that we are seeing today is the best argument that supports this.

When you’re thinking about retiring, it’s important to also check the nation’s stance on crypto. Cryptocurrencies and blockchain represent the future, and you should definitely pick a country that prefers to ride the wave of innovation rather than hide from it.

  • Renting costs and living expenses

This is another essential issue that has to be taken into consideration. Healthcare facilities, renting costs, and Ambulance services are some of the important issues that you have to consider.

You have to check out the finalists in terms of dream locations and make sure to compare rent, health facilities, and more.

Living expenses are also important when deciding to move to a new place. All this data should be in front of you before making the final decision about where you decide to spend the rest of your life.

  • Climate

Deciding to live abroad is the best and most adventurous way to get to see the world and enjoy new experiences while getting to know new cultures.

The type of climate that the location has is more than essential if you want to retire there – this is the climate that you’ll be stuck in for a long time.

  • Stability of the country’s political situation

It goes without saying that this is a crucial factor to keep an eye on – just think about what’s been going on today in the world and how the globe is just one step away from a potential WW3.

Getting to know the political stability in the country that you choose to pend your life from now on could not be more important than in 2022.

You should be looking out for an attractive environment for retiring expats with good healthcare, strong economies, and low unemployment rates. There should be a stable political situation and a low crime rate as well.

  • Entertainment and a healthy lifestyle

When you’re choosing a location for retiring, you would definitely want to be able to have fun there and live the rest of your life like there’s no tomorrow after a lifetime of work and hassle.

Also, it’s essential t highlight the importance of being able to live a healthy lifestyle in the location of your dreams – this can probably be noted as the most critical aspect of retiring in any country, along with politics and the financial aspects.

  • Development and infrastructure

As a potential expat, you should think about the infrastructure that the country offers and also the potential that the nation has development-wise. These are essential issues that will make sense in the future.

Here are the best three destinations where you can retire and live the dream in peace and tranquility.

Best three relocation destinations

  1. UAE – Dubai

When you say UAE, you say freedom. The features that the location offers people are the ones that make it one of the best choices for retirement. The UAE is an exciting destination that has amazing attractions, and it also features upbeat energy. Dubai is famous for its friendly and multicultural population.

There, you will be able to enjoy a massive array of lifestyle experiences that are all putting convenience at the forefront.

Dubai enjoys a year-round sunny climate, and it also benefits from a low crime rate. This, along with other important issues, makes it one of the best locations in the world for people who want to retire. The city has a lot of recreational activities, and it offers a convenient and comfortable lifestyle for residents as well.

  • Renting costs and living expenses – crypto acceptance

There are a lot of benefits that come with finance in Dubai. This is a really crypto-friendly location, and you will be able to enjoy the benefits of buying properties using crypto. The rent and living expenses are not what you expect – you can live here hassle-free and maintain your wealth without spending more than you can afford.

UAE understands the benefits of allowing the use of crypto in 2022. Digital assets are the safest option that people have regarding purchasing goods and making payments. Using crypto in order to buy a property in the UAE, especially for international buyers, turns out to be really cost-effective.

It’s good to note the fact that using crypto costs less on international transfers and payments compared to the traditional ones. Banks are charging massive fees, but using crypto brings hassle-free aspects involving extra charges. With crypto, you can make instant transactions and low prices.

  • Purchasing and owning real estate – prices of properties

Buying a property in Dubai can be anyone’s dream, and it’s definitely the safest option that you have there for making payments.

There are various reasons for which real estate investors are opting these days for spending crypto in Dubai, and the most important one is the fact that the transaction process is secure.

Purchasing real estate properties in the UAE using crypto is an amazing choice thanks to cost-effectiveness but also saving extra energy and time that the process usually requires. Acquiring possessions and settlements of the properties is a tough process otherwise.

  • Healthcare

It’s essential to note the fact that both state and private healthcare exists in the UAE. This country flaunts state-of-the-art healthcare facilities, and some of them are the best in the region. It’s extremely important to note that residents, including expats, have the ability to access state health services at a 50% reduced rate if they purchase a health card.

On the other hand, it’s also important to highlight that the public facilities are limited, and many foreign residents take out private health insurance to access a wider and quicker range of services.

People living in Dubai or Abu Dhabi should know that health insurance is a legal requirement, and you will be subjected to monthly fines if you don’t have it. This is why it’s a vital point to have in mind.

  • Residency and VISA requirements

The Dubai retirement VISA is anyone’s chance to live in one of the fastest-growing, safest, and most culturally diverse places on the planet. It definitely offers you the chance of your lifetime to enjoy the next chapter in your personal story.

It’s not hard to get a Visa to get to the location of your dreams. Companies such as Crypto Expat can help prepare a Visa for you so that you can build your company easily and enjoy all the benefits of developing it in the UAE.

The UAE offers growing businesses stability, larger markets, steady growth, investor-friendly processes, and a tax-free regime.

  • Climate

UAE is the place to be if you love the sun and an energetic lifestyle. Dubai has a hot desert climate, and summer begins around the last month of April.

Summers are extremely hot and with high humidity. Why would you want to live your life in a cold and rainy place when you can enjoy every day relaxing by the pool and soaking up in the sun? In UAE, you can spend your golden years under the golden rays of the neverending sun.

  • Development and infrastructure

Regarding infrastructure, Dubai boasts a world-class infrastructure, well-maintained roads, excellent public transport, and connectivity. These are only some of the reasons why Dubai is a global trade center.

  • Strong economy and amazing lifestyle

The UAE flaunts one of the strongest economies in the Middle east. An amazing aspect of living here is that all income is tax-free. This means that residents see huge financial freedom here. This, combined with extraordinary economic stability, makes UAE a great place to retire.

Here, you will find pretty much every fun activity that you can think of and all the glitz and glam that you could ever desire. Considering that the majority of people living here are foreign-born expats, Dubai and UAE, in general, is a multicultural location that welcomes people of all nationalities.

2. Costa Rica

For people who are looking to retire abroad and are in need of a place that’s affordable and also enjoyable at the same time, Costa Rica might be the best choice.

One essential issue that we have to mention is the fact that it’s pretty hard to beat Costa Rica when it comes to beaches, warm weather, and delicious food.

More than that, the World Health Organization notes that this democratic country features one of the top healthcare systems in the whole world – in this regard, it’s even better compared to other countries in Western Europe.

  • Purchasing and owning real estate – prices of properties

Costa Rica is the ideal retirement location, and you probably know by now that Central America is among the most welcoming nations out there for foreign retirees on the globe. People there can enjoy hassle-free residence programs, a low living cost, and a stable democracy.

It’s also important to note that properties in Costa Rica offer an amazing opportunity for investment. There, you can find great locations for renting, living, and retiring. There are also great opportunities of investing in the country as well.

  • Healthcare and entertainment – advantages and discounts

It’s interesting to note the fact that Costa Rica has a universal healthcare system that is called Caja Costarricense de Seguro Social (CCSS), referred to as the “Caja.”

According to official notes, the system offers “100% coverage for all medical procedures and prescription drugs, through the public hospital and clinic system, to citizens, permanent residents, and visitors for a small monthly fee based on a percentage of their income.”

As a conclusion, the quality of Costa Rica′s healthcare is excellent. In terms of entertainment, there’s plenty to do and see in the country, and anyone who has ever been there knows this.

  • Residency and VISA requirements

Obtaining a Costa Rica residence permit allows the holders to stay in the country long-term – meaning more than 90 days. This can be done with the main purpose of working, studying, retiring, and also joining a family member who is already there. It’s also worth mentioning that Costa Rica residence permits are issued after the foreign national is already in the country legally.

  • Renting costs and living expenses

Costa Rica is one of the most popular countries that people choose for retirement, and this is also due to the low costs of living, amazing ocean views, and tropical climate.

For tourists, Costa Rica offers amazing vacation locations, and the pluses for at least visiting the country include warm people, adventurous opportunities, which are great for both the body and mind as well.

  • Entertainment and a healthy lifestyle

The nation has become a desirable place for retirees all over the world, and this is due to all the affordable costs involving living, a healthy lifestyle, and exclusive top-notch medical facilities. The low costs involving living and amazing healthcare have lots of expats wanting to retire here.

The universal healthcare system is among the best ones in the world, and this is one of the enticing reasons to retire in this location.

  • Spending crypto in Costa Rica

Regarding whether the nation is crypto-friendly or not, the government of Costa Rica is still refusing to accept crypto as a monetary currency. On the other hand, it’s good to know that they legalized its use.

The Central Bank of Costa Rica (CBCR) does not consider crypto as a legal tender, so far.

3. Ecuador

If you’re looking for the best retirement where you can enjoy all the world’s delights, Ecuador may be the perfect location for you. It could be just what the doctor ordered. This is a nation of 16 million people, which has two distinct equatorial regions.

This means that it’s blessed with lots and lots of sun all year round. Only thinking about this, you can say that the location could be the perfect one for you.

  • Purchasing and owning real estate – prices of properties

Let’s start with the fact that Ecuador is also a budget-friendly country that you can retire to.

The capital city, Quito, has been named the Andes Capital of Culture and Don Juan Shopping City.

You can also check out major must-see locations like Old Town Centro Histórico, La Compañía de Jesús Cathedral, and the impressive Quito Artisan Market. You can visit amazing parks and enjoy various architectural styles. Here, you will be able to find unparalleled real estate listings, and this will make your relocation experience a dream come true. Ecuador offers the best properties for sale in the market, and this is one of the main reasons that make the nation one of the best places when you consider retirement.

  • Healthcare in Ecuador

According to official data, Ecuador has a universal healthcare system. It is funded by the government, and it’s also important to note the fact that it provides treatment to all.

The major cities, such as Quito (the capital) and Guayaquil, have public hospitals. One amazing plus is the fact that treatment is free, and anyone can visit for examination by a general practitioner or a specialist, depending on the malaise.

  • Residency and VISA requirements

The Temporary Resident Visa is currently allowing people to stay in Ecuador for up to two years. You may renew this only once. On a Temporary Resident Visa, you may be absent from Ecuador for no more than a cumulative total of 90 days per year.

  • Renting costs and living expenses

Prices in Ecuador are definitely affordable ones – You can find some beautiful homes and apartments for rent here in Ecuador. You can find everything that you might be looking for: unfurnished, fully furnished, beautiful, dumpy, and more.

  • Spending crypto in Ecuador

In Ecuador, you can take your daily payments to the very next level. You have the opportunity to exchange crypto and spend it with your VISA debit card in millions of shops all over the world.

  • Entertainment and a healthy lifestyle

It’s worth noting the fact that Ecuador’s famous Galapagos Islands are true paradise, and adventurers and fun-seekers will be in heaven here. The country has a lot to offer, and this includes many opportunities that will allow you to immerse yourself in the local artisanal culture.

There are various historical sites to visit as well. The country is also hosting great festivals and entertainment opportunities.

As a conclusion, for those interested in relocating to Ecuador, the nation offers people the opportunity to enjoy a picturesque and incredibly biodiverse area.

Here, you will be able to enjoy the Galapagos Islands, part of the Andes Mountain range, tropical rainforests, and beaches. A lot of people who choose this as a location for their retirement can live in Quito, Ecuador’s capital city.

Final words

The best expat countries for retirement are the ones that suit your needs and dreams. A fun way of life, great food and climate, strong medical care, vibrant people who know how to enjoy good times, and financial peace of mind are definitely some of the key points that you want to keep in mind when choosing a location.

Legacy banking is currently being disrupted by innovative technologies that digital assets bring. This is one of the reasons why crypto-friendliness should be on your checklist when making an educated decision about your retiring location.

Retiring abroad comes with a lot of benefits – you just have to know how to look for them. Retirement is the time to wave goodbye to stress and discover the most idyllic spots where you can enjoy life and the best things it has to offer. Make your decision wisely because you are deciding for yourself and for your happiness, peace of mind, and comfort.