International bank transfer
Hi all
My name is Romain, I'm french and I just get an onshore rotator position, 28 days on / 28 days off.
My salary will be paid here in Qatar, and I am looking for a solution to transfer money from my Qatari bank account to my french bank account, avoiding taxs and interchange fees as much as possible.
First solution would be to withdraw cash and to change currency here in Qatar (or in France) but I am not so confortable travelling with big amounts of cash.
Other solution, use specialized companies like "Wolrdfirst" or "Transferwise" but I have no clue if they are serious or not.
Your return of experience will be appreciated
Thanks
Hi,
well it depends on your residency/visa status. Are you comming with a business visa only, or you are getting local employment contract. If it's just business visa, I don't think you can open a bank account. See the requirements here:
https://www.iloveqatar.net/news/general/how-to-open-a-bank-account-in-qatar-1
I think you won't have much opportunity to exchange QAR outside Qatar, as foreign banks ceased trading them just after the siege started last year and not sure if it has changed since.
Therefore your only option would be to exchange QAR to EUR here in Qatar and take your cash home.
Money exchange do
Direct bank deposit transactions..
there isnt any tax here...Dont know if they take tax
Transfer your money to your home bank, pay the normal tax. Be happy.
If you open a bank account in Qatar and ask your company to credit your salary in Qatari Riyals, you will not need to carry stash of money in your pockets or in bags. Even if you do, Qatar is a very safe country with a very low crime rate. You will be safe all the time.
Once your account gets credited with your salary, you can work it out with the bank to transfer your money to your country on bank-to-bank basis. Making a transfer through this system usually takes around two working days for your account to get credited in your country.
A second option would be to make transfers through money exchange companies. Western Union is one among the several that operate here. This form of transfer is fast but you will lose cash on the exchange rate side.