# Dubai Dirhams savings sending to UK GBP



## UKhome (Mar 1, 2015)

Hello all,

I am writing to see if anyone has advice for transferring money to the UK in bulk as I am about to leave Dubai and move back to UK after 7 full years in Dubai. My savings will be paying for my tuition for the course and will be doing and the accomodation and living costs and I will not be working. After this I will then return to work and carry on living in the UK.

But I heard that large bulks of money can cause problems, epsecially linked to tax issues and that there are some restrictions.

I have been informed that there is a limited amount that can be sent over to your own account and also within a 1 year period. I was also then told that they could divide the money out to other accounts (friends and family) with again a maximum amount, and carry a maximum amount in cash on the person (with a maximum limit).

Then I was told of variety of places such as Al Ansari and ADCB bank will transfer large amounts with minimum fee but that also there is a maximum. 

I leave in 6 weeks to India for a month and then may also visit back to Dubai before returning home, and so I can plan over the course of a couple of months or so. I would just need to know how to move forward from here. Do you have any advice or a website I could use for the answers?

Many thanks for your time and support :fingerscrossed:


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## Stevesolar (Dec 21, 2012)

Hi,
If you are non-resident for UK tax purposes - then you can send as much money back to the UK as you wish.
You seem to have been previously ill advised.
Cheers
Steve


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## twowheelsgood (Feb 21, 2013)

Steve,

The issue is that if you transfer over 39,000 via places like Al Ansarai, they have to fill out a declaration as to where the money came from which can delay the transfer. I can imagine that if the number were hugely greater, then the hurdles to be jumped and explained could be a great deal higher, and protracted.

Its not an issue at the UK end so much.


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## UKhome (Mar 1, 2015)

Hello

and thank you.
I am from UK but have not lived there for 7 years. I will return fairly soon.
My concern is for either tax on this and I will already be a student so I need to save my pennies. Or that there will be a limit on what I transfer and if there will be cost implications in the transfer.

many thanks once again
Nicola


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## twowheelsgood (Feb 21, 2013)

No tax on incoming money as long as its yours.

No idea if there is a practical limit but probably not.

Always cost implications - more should logically be cheaper but as its a bank, they will charge you more no matter what.


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## UKhome (Mar 1, 2015)

Thanks twowheelsgood. Do you know of alternatives for banks? Or banks with a good rate?
Thanks again


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## twowheelsgood (Feb 21, 2013)

Not really - all my transfers I keep below the recordability limit for that reason and I never ever use a bank. I use cash to transfer/convert and use a specific branch of Al Ansari which is on my way to work and opens at 0800.


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## UKhome (Mar 1, 2015)

do you know what recordability limit is? what is the limit for al ansari? or I can just quickly look online.

Thanks again


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## rsinner (Feb 3, 2009)

I have sent amount much greater than the 40K declaration limit in Al Ansari, and apart from filling up the form there are no issues - the money reaches on time like always.
They dont check sources of funds or anything, but keep a copy of your ID.


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## w_man (Apr 16, 2010)

I used GCEN on a monthly basis. They normally provide a wholesale rate on large amounts (> 10k). They are a UK based firm with offices here in Dubai. 

They don't charge any transfer fees. I only end up paying a money transfer fee from my bank as I have to transfer to their local RBS account. Money is usually transferred within a couple of days.


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## Malbec (Jan 2, 2014)

ADCB offers one of the best FX rates among all banks here, so I advise you do the calculation properly before running with cash to places like Ansari etc. You will get even better rates if you have Privilege or Excellency status.

I am not 100% sure about ADCB's daily international bank transfer limits, but they should be between AED 100,000-200,000 daily. This can also depend on the status of your account. Transfers are free and you just need to make sure to send transfer as OUR, so ADCB will add AED 100 per transfer but there won't be any intermediary fees. I assume at the branch you can submit the transfer for any amount.

You may also want to consider ADCB offshore Jersey and simply transfer GBP between UAE and ADCB Jersey online within the same bank. Money are kept in offshore Jersey jurisdiction and they can even give you a debit card in GBP to use in the shops, online, ATM etc. This is available for Privilege and Excellency customers.


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