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marguerite wild
Joined: 10 Jun 2010
Posts: 10
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 Posted: Sun Jun 13, 2010 4:45 am Post subject: can't take cash out of country?????????????????? |
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| Hi all, I am a newbie considering a trip to teach in saudi arabia or abu dhabi and have been told that there is the catch in some of these countries that yes, you get paid well but cannot remove the cash you save from the country. This does not sound right to me. Can someone help with an answer?????? |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Sun Jun 13, 2010 9:05 am Post subject: |
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You can remit as much as you like through the banking sytem. There is now a requirement to declare cash that you are physically exporting if it is in excess of 60.000 SR (=US$16,000). Provided you declare it, you can take out cash in foreign currency without limit.
Countries with Exchange Control usually restreict remittances to 25 % or 30% of salary. These include Libya, Algeria and Nigeria. The States in the Gulf Cooperation Council do no operate Exchange Control.
I normally take my holiday pay home in crisp new Bank of Englsnd 50 pound notes acquired from Al Amoudi the Moneychanger in Khobar. |
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boysfromtheblackstuff
Joined: 15 May 2010
Posts: 35
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| Posted: Sun Jun 13, 2010 10:35 am Post subject: transferring money |
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Once you get an iqama (if you are working here officially and not just on a business visa) then opening a bank account is simple enough with a letter from your employer.
As most foreigners are here to transfer money back to their own country, the system is probably the easiest I've encountered. Get an online account set up and transfers take a few days and are not too expensive. |
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marguerite wild
Joined: 10 Jun 2010
Posts: 10
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| Posted: Sun Jun 13, 2010 10:36 am Post subject: cash withdrawal |
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| Hey Scot, thankyou for your prompt and informative reply. Regards, Marguerite |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Sun Jun 13, 2010 4:44 pm Post subject: Re: can't take cash out of country?????????????????? |
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| marguerite wild wrote: |
| Hi all, I am a newbie considering a trip to teach in saudi arabia or abu dhabi and have been told that there is the catch in some of these countries that yes, you get paid well but cannot remove the cash you save from the country. |
There is no problem with transfers from Abu Dhabi. There can be some problem in Saudi if you are hired by the shadier employers who bring you in on a business visa rather than a legitimate work visa. But, once you have the iqama, no problem.
But... you said that you are considering a "trip to teach." You need to be aware that you must be hired overseas and the employer arranges for your visa to come. You can't just go there and then find a job. (just in case you were thinking that you could...)
VS |
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marguerite wild
Joined: 10 Jun 2010
Posts: 10
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| Posted: Mon Jun 14, 2010 8:49 am Post subject: thanks for your help |
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| thankyou to bftb and vs for their help. Vs- I am going through the process of being hired for a 9 month stint in Abu Dhabi, hopefully it all works itself out. It is a big move for me, I've never been overseas before. I dont even have a passport yet but shall apply tomorrow, hopefully it wont take too long. My parents think I'm mad, they think I will be kidnapped and held for ransom. I told them to look at this website to allay their fears. Regards, Marguerite |
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Never Ceased To Be Amazed
Joined: 22 Oct 2004
Posts: 3500
Location: Shhh...don't talk to me...I'm playin' dead...
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| Posted: Mon Jun 14, 2010 10:22 am Post subject: |
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Booo!!! 
NCTBA |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Mon Jun 14, 2010 1:00 pm Post subject: Re: thanks for your help |
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| marguerite wild wrote: |
| thankyou to bftb and vs for their help. Vs- I am going through the process of being hired for a 9 month stint in Abu Dhabi, hopefully it all works itself out. It is a big move for me, I've never been overseas before. I dont even have a passport yet but shall apply tomorrow, hopefully it wont take too long. My parents think I'm mad, they think I will be kidnapped and held for ransom. I told them to look at this website to allay their fears. Regards, Marguerite |
Welcome to the club of people with families who watch too much TV news! The main danger in the Middle East is traffic accidents. Better that you go to Abu Dhabi rather than Saudi as it is an easier culture to adapt to for the newbie.
Be sure to try out the search here to learn about your employer. There are way too many scams out there these days. And then you can also check out your other questions on the UAE branch.
VS |
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SaudiJobSeeker
Joined: 10 Jun 2010
Posts: 6
Location: Houston, Texas
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| Posted: Mon Jun 14, 2010 6:14 pm Post subject: |
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I heard Abu Dhabi is a more expensive than some of the other places in the Middle East. I would suggest doing some cost of living analysis before considering the offer.
Best of Luck |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Mon Jun 14, 2010 8:31 pm Post subject: |
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The question is interesting because it shows that someone, somewhere has picked up a little information...............................and ended up totally wrong !
A "Chinese Whisper" ?!? |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Tue Jun 15, 2010 2:00 am Post subject: |
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| SaudiJobSeeker wrote: |
| I heard Abu Dhabi is a more expensive than some of the other places in the Middle East. |
I don't see this as a very useful exercise because the countries tend to be so close in costs... and it depends on what one buys. Electric bills may be cheaper in one place, petrol may be cheaper in another... and on and on. By the time you get to the end of the list, the total difference isn't really significant. Not like say, comparing Egypt and Lebanon.
If you read this board, you will find people who have lived all over the Gulf with varying opinions of which was costlier for them. Some say Doha is the most expensive... some say Muscat... some say Dubai. The rents in Abu Dhabi went nuts, but if your employer provides housing that doesn't matter.
I would make my choice based on employer, salary offer and lifestyle.
VS |
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