Hi everyone, I’m based in Dubai but originally from Canada. I’ve been working with a startup on a handshake agreement based in canada, and it has now been acquired. I’m opting to have the company pay me out as “consulting services,” but I don’t have an LLC or company set up in the UAE or Canada. The payout is in the six-figure range. Can a Canadian company legally wire those funds directly to my personal bank account in Dubai, or does it need to go through a business entity?

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Since you cannot show any reference with a proof of a transaction to a bank, you need to legalize your business activity with Canadian company. It can be a contract agreement, business set-up, or other types of agreements. The key matter - legislation, proof of source of funds, proper according taxation on both sides (which depends on how you legalize your business activity). And yes, if any significant amount hits your account, bank will immediately request you to show official source of fund and you are expected to reply fast (not in weeks).

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You don’t need a company. It can be a consulting services contract between the Canadian company and you. Then the company can wire to your personal account. The bank will ask you and you can just show them the contract and done.

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Bro u need a lawyer not fishbowl

You're rich congrats

How long have you been based in Dubai working on a handshake (no pay)? You may need some proper advice on this as think there are some important nuances. From what I’ve seen across a few friends though:
- If you actually were employed (proper employment contract) by this company abroad and they don’t operate in UAE, but you’ve been living and working remotely here, I think so long as you have your Remote Work Visa they could maybe just pay you direct into your UAE bank account.
- However if you’re self employed i.e contracting / consulting (like a sole trader) from UAE, I’m pretty sure you need a freelance or business license here.

To those who’ve commented: Is there no issue of visa violation because if they’re on a company visa then they’re not “allowed” to enter into such engagements privately? Or do you think the bank wouldn’t care of any of this? I’m in a similar situation but the amount is a lot lower say couple thousand of dollars.

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