International Money Transfers, Payments

FlashFX: Powering Australian/UAE Cross-Border Transactions

If you’re someone who does business overseas, you probably understand the difficulties involved in moving money quickly and easily across borders. Between bank fees, tax liabilities and merchant’s margins, many Australians have seen hundreds of dollars carved off amounts as it winds its way through the international financial system.

FlashFX offers an alternative. Travellers ourselves, we understand first-hand the frustrations of moving much-needed money around the globe in short periods of time. With rates well below the Big Four banks and a system built on state-of-the-art fintech, we provide a secure, fast and affordable option for people in Australia sending money to the United Arab Emirates. Read on and discover the ways in which FlashFX can help you do better business, grow your professional network and make your destination wedding that much more beautiful.

Empowering investment in a growing economy

The UAE is open for business. A combination of an economy heavily reliant on oil reserves and corporate governance laws limiting foreign ownership of businesses meant that many international investors and businesspeople were frozen out of the sections of the market most relevant to them.

However, this is changing. In recent years the Persian Gulf state has made efforts to diversify and open up its economy. Previously, foreigners were only allowed full ownership of enterprises situated in ‘free-trade zones’ – demarcated geographic areas with regulations differing from the rest of the country. Outside of these zones, foreigners were capped at 49 per cent of share ownership, with Emiratis required to hold the remaining 51 per cent.

In May of 2018 the Cabinet of the United Arab Emirates announced that restrictions on foreign ownership of businesses would be lifted for a wide range of industries. UAE-based companies operating within these industries can now be fully foreign-owned, allowing investors and entrepreneurs far more choice in how they structure their UAE-based operations and portfolios.

The move is intended to spur foreign direct investment and is predicted to help grow the non-oil sector of the economy. With oil exports still making up roughly 25 per cent of GDP and nearly 40 per cent of total exports, the need to diversify the economy is clear, especially as countries around the world increasingly pivot towards renewable energy.

If you’re an investor looking for a dynamic and growing market to enter, the UAE is ideal. Ensure that you’re properly equipped to do business with your Emirati partners wherever you are in Australia with FlashFX.

A critical tool for any foreign investor, FlashFX is ideally suited to both making singular large investments – such as real estate – and lower-value/higher-volume transactions such as the buying and selling of securities. Fast, secure and easy to use, it streamlines the process of sending money to any bank account in the UAE, allowing businesses rapid access to the Emirati economy.

Whether you’re considering buying land, trade in foreign shares, or are looking to forge stronger links with businesses in the region, FlashFX can support you.

Your ticket to corporate events across the country

Hand-in-hand with greater economic diversity comes increased opportunity to form business partnerships. As the second largest economy in the region, the UAE is a prime destination for trade expos, brand experiences and other corporate events.

The host for numerous international corporate events covering industries as diverse as defence, aviation, aerospace, medical, oil & gas, energy and construction, many of the world’s top businesses are regularly represented at events in Dubai and Abu Dhabi. The UAE’s prestige is such that it was selected as the host of Expo 2020, giving foreign firms an unprecedented look at the present and future of the country.

If you’re a businessperson who understands the value of their network and is always looking to expand it, consider industry-specific events in the UAE as a potential addition to your calendar. Secure your place in advance with FlashFX, making paying for everything from expo admission to meals and board simple and easy. Best of all, FlashFX’s simple, user-friendly design makes it easy to keep a record of your finances for expenses reimbursement.

The simple way to pay for your dream day

FlashFX isn’t just for business trips. Abu Dhabi and Dubai are both extremely popular venues for destination weddings, with Vogue Arabia declaring it the most popular country in the Middle East for overseas couples. With hundreds of kilometres of pristine white beaches fronting on to sapphire blue waters, as well as some of the most sought-after venues in the world, including the majestic Armani Hotel located in the Burj Khalifa, it’s no wonder.

But with florists, bakers, hoteliers and celebrants to manage and total costs frequently running into the hundreds of thousands of dollars, you need a flexible and affordable way to ensure that all of your suppliers are paid. FlashFX helps you take the stress out of your wedding day. Pay anyone, anywhere in the UAE the faster way, ensuring minimal running around and maximum enjoyment on your big day.