Trading in Dubai

Quote from Dogfish:

Newedge, but Fortis and I think Marex would clear you or MAN. There's plenty of succesful big ICE spreaders out here who trade through webice, which is free, from home.
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Heh, I should have looked at ET before i went. I stopped by Dubai recently, invited by DME to take a look at what they got (or more precisely, what they are going to do). While DIFC and surrounding was nicely built , and property agents (soo many of them!) shows us the downtown burj dubai developments, there really isn't a whole lot business infra wise.

How are you guys dealing with the 44C weather? in comparison, places like Arizona is a walk in a park. Personally, I don't see the advantage (other than being based in Middle East, as versus in other Europena tax heavens, like Monaco, Gibraltar, etc. Am I missing something? The GCC inflation is also rampant, I was reading the Emirates 24x7 business paper one day, the GCC as a whole inflation is around 11-12%, with Qatar being high at 18%.

Taxes, oh yeah, definitely. But there are plenty of places / ways to avoid taxes (don't ever get a US citizenship would be a good start), heh.
 
Kind of an amatuer question for you dogfish but.. starting with 50K and paying American taxes would a monthly return of 10 - 12% trading equity-options be enough to support oneself considering the previously mentioned costs of living in Dubai? I'm new to prop shops so I'm not sure what returns are expected in equity-options.

Lastly, under what sort of conditions would DPTG consider pulling you out?

Thank ahead
 
Quote from liffer:

Came across this article today,Friday Brunches sound great but you've got to feel sorry for the poor bastard who thought he'd got lucky.

http://www.thesun.co.uk/sol/homepage/news/article1398204.ece
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Well she did go the whole way -you can get done for far less and you only need to say you saw someone doing it to have them deported.....
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Public kissing can lead to deportation
Hani M Bathish

Last Updated: July 07. 2008 10:44PM UAE / GMT DUBAI // Couples arrested for kissing in public, a crime punishable by deportation, cannot plead ignorance of the law, a senior Dubai judge has warned.

Expatriates are responsible for knowing the laws of the country, including those pertaining to public decency, said Saif al Nasr, a Court of Appeal judge.

“Any act that violates the sensibilities of the local community, that offends, shocks or disgusts the public, falls under the classification of a scandalous public act,” said Judge Nasr.

“Whether a couple are married or not, if they commit such an act in plain view of the public, they are culpable. If they are married they should respect the culture and traditions of the country they are in and show affection to one another behind closed doors in the privacy of their own home.”

Kissing, hugging or making rude gestures in public are all offences that fall into the category of a scandalous public act. Two years ago, the penal code was amended to make deportation mandatory for expatriates convicted of such crimes.

The law has been strictly enforced. Once a case is referred by the public prosecution to the courts, any conviction, even a suspended jail sentence, would warrant compulsory deportation.

For the same crimes, Emiratis can be imprisoned or fined, or both.

The judge added that a complainant’s word was enough to convict people of such crimes.

<B>“The person filing a complaint does not need to have witnesses, after all, the plaintiff swears an oath when giving evidence before the court. That is enough.”</B>

Earlier this year, an expatriate couple arrested for kissing in a parked car narrowly avoided being deported after being found not guilty of a scandalous public act.

A passer-by noticed the couple, photographed them in the act and then reported them to the police.

“The man was planning to take his wife out to dinner for her birthday after a heated argument and he was apologising to her and kissed her. A man who happened to be walking by saw them and took their picture,” said their lawyer, Nabih Bader. The couple escaped with a stern warning from a judge.

“In cases when a conviction is rendered in the Court of First Instance we appeal the judgment before the Court of Appeal and sometimes ask for the deportation order to be lifted for humanitarian reasons, but it is rare for a deportation order to be lifted in such cases,” said Mr Bader. “The judge does not have the discretion to waive the deportation order. It applies to all such cases that are proven against foreign nationals.”
 
Way too many rules. not sure why would someone willing to expose themselves to their strict laws. The only reason that I can see is if one has a job there that pays astronomical sums of $. Otherwise, I would rather gladly trade/work from US or other countries with normal rules even if it implies paying taxes.
 
If you can not kiss your wife hello, what happens if you get caught getting a BJ in the back of a cab?

I think I will stick with Latin America for hobbying!
 
Quote from bunds:

But you must remember they have all these rules and there are so many bars just full of prostitutes and many smuggled into the UAE. I have seen local brothels on a 4th floor of a 2 star hotel in Diera (old town) and there are about 12 Indians lining up waiting their turn (actually in a line).

There are 2 bars in Dubai where on a good night there will be about 500 hookers trying to earn a living.

So, the UAE have a thousand page book full of rules but they really need to clean up their own back yard first.
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Take pictures....release to public/press. STIR THAT POT!!!! :D
 
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