Hello!
I will be moving / living a new life in Dubai in the next coming months. I will be attending to the appropriate ID and other requirements, however I will need to open a bank account with Emirates NBD and once the sale of my property comes through, I will be requesting a letter from the solicitors to transfer the funds ( with all of the necessary account details etc ) along with a letter stating that the funds do not come from any Money Laundering Activities plus a copy sent to myself by email as well.

I would appreciate your assistance please in this matter.

Thank you.

What do you need assistance with its not very clear ?

When the completion of the sale of my property in the UK happens, the fact that it will be a rather large amount £325,000 ( obviously sent / converted to AED), I do not wish to lose this amount as the final account from the firm of solicitors. What do I need to do to prevent the UAE bank not to accept this for my UAE bank account. I just cannot afford to lose this amount. I have heard that possibly a letter from the solicitor may be required to state the the amount of money was / is not associated with any Money Laundering activities. This will be the first time that I will be emigrating in my life and I just need advice, what documents and from whom? This is an area that I am worried about.

Thank you.

A couple of questions, just so I can fully understand.

Is there any reason you have to bank with ENBD ?

Is there a reason you a rushing to transfer the whole amount of the proceeds into the UAE ?

Hello!

Sincere thanks again for your quick response.

My reason for mentioning Emirates NBD bank is that this is the only one that I picked out.

Concerning the transfer of the £325,000 ( house sale amount ), I am under the impression that it would be a good idea to have this sent in full as I would want to buy a property over there. I am aware that near enough all banks no matter in whatever country, I believe that if it's an extremely large amount of money, then I think that they would request a letter stating that it is not from Money Laundering activities or possibly proceeds of crime. I need to find out, as I could not afford to lose this vast amount of money.
I look forward to your reply.
Thank you.

I personally I wouldn’t rush to transfer the money. Bring it over when you need it, I’d get your bank account set up and running first.

Everyone has different experiences with banks and you will hear good and bad about every bank here.

If it were me I’d seriously consider opening an account in the UK with HSBC and then open an account here with HSBC. between them they will have the history of the source of your funds (assuming the funds are deposited into HSBC from the sale) if it’s ever questioned. You can still use a better value method to exchange the funds if you choose. However you choose to transfer a substantial sum it could get held for an AML assessment but you will never lose it.

Thank you very much indeed for the information. I bank with the Nationwide Building Society and have done for about 30 years, however I also have Wise account
( used to be known as Transferwise until a couple of years ago ). I used transfer GBP to Euros, well about £500 at a time.

I will have to find the nearest HSBC bank.

Thank you.

To be clear I’m not suggesting HSBC is the only way you can do this but it’s a fairly clean and easy way to do it. You can always move banks at a later date.

The other option is to choose a local bank, get things up and running and then have the conversation with them about transferring money over. I’m not diminishing your funds but banks here are used to expats transferring over millions to buy property so it’s very routine for them.

I think the recommendation to use HSBC a good one.

I use WISE but not for any large amounts- it is not a bank,and any problems can be hard to resolve with them.

You could also place your money with say, HSBC or Lloyds International in the Channel Islands until you need it and get yourself settled.