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Buying a car in Dubai for cryptocurrency

Published: 21 мая 2023
4 min

Buying a car in Dubai for cryptocurrency Buying a car in Dubai for cryptocurrency

Sometimes in life it is possible to combine the useful and the pleasant. If you have not vacationed for a long time and are looking for a new car, then you have the opportunity to combine these two goals.

As you know, the supply of new foreign cars in Russia are suspended, and buying a car in Europe is complicated by limiting the amount of 50,000 euros and problems with transfers caused by the disconnection of banks from the system Swift in amounts above $ 10,000.

In such a situation, the ideal option is Dubai, since, firstly, it is a great place for tourism, and secondly, there are popular car brands at affordable prices.

Buying a car in Dubai for cryptocurrency Buying a car in Dubai for cryptocurrency

Photo by vwalakte

Immediately after arriving in the UAE and checking into your hotel, you can visit the Sharjah Car Market, where both new and used cars are sold. The area of this market corresponds to the local airport and hundreds of cars are on sale.

Of course, it is recommended to use the services of local car pickers who can help pick up cars for people from Russia.

Buying a car in Dubai for cryptocurrency Buying a car in Dubai for cryptocurrency

Author photo tawatchai07

The first problem a buyer faces is related to the transfer of funds in dollars to the UAE. Many banks either don't do such transactions, or the transactions are delayed for days or weeks and can be reversed. In this case you lose precious time.

Let's take a little detour and talk about Dubai. Dubai is a special economic zone where cryptocurrencies are allowed as a means of payment and financial transactions. There are many companies here that officially accept stabelcoins for their goods and services.

Thus, you can check with a car dealer to see if their company can accept payment for a car to their e-wallet. Even if such an option is not available, you can use local exchangers who will be happy to help you.

Let's take the example of the cryptocurrency exchange AWEX. Why it?

The company has its offices both in Moscow and Dubai. You can contact their office in Moscow and get the estimated amount in rubles to your digital wallet, after you arrive to Dubai you can visit your local office and get the whole amount already in dirhams at a favorable exchange rate. Read more about it here and here

You can also take cash dollars with you for pocket expenses up to $10,000.

When choosing a car you need to be very attentive and not in a hurry. Check the year of manufacture, the documents, and the technical condition of the car. The car picker will help you with this.

By the way, in the AWEX office in Dubai, you can ask for the contacts of a car picker. There you can also find business cards of different specialists, who are our compatriots and have been living and working in UAE for many years.

Buying a car in Dubai for cryptocurrency Buying a car in Dubai for cryptocurrency

Photo by freepic

After choosing and paying for the car, the car dealership will give you a document of payment for the goods and send the purchase to the shipping company. The transportation company will also issue you a document confirming receipt of the car for delivery from UAE to Kazakhstan (or Russia) via Iran.

Delivery of the car by ferry from Dubai to Iran takes 3 to 24 days (the documents may specify maximum term of 60 days). Transportation between Iran and Kazakhstan is done in special railroad cars and takes a few days.

Be sure to write down the contacts of the delivery service specialist and the customs broker to track the shipment. Upon arrival in Kazakhstan, you will need to insure the car and go through customs clearance. Delivery from Kazakhstan to Moscow by truck takes up to 14 days.

After your car arrives in Russia, you will need to register it. The following documents are required for this purpose:

  • SBCTS (certificate of the basic equipment of the vehicle), the customs declaration,
  • EPTS (Electronic Vehicle Passport),
  • Payment of the recycling fee.

You can receive the EPTS only after obtaining the SSBKTS, as the customs require the SSBKTS to pass the procedure. The recycling fee is paid at the last moment when you have already received the EPTS. Only after all these procedures you will be able to register the car.

It is important to remember that buying, transporting, and registering a car from another country can be a complicated process. However, by working with companies that work in both the country of sale and the country of receipt, you can simplify the whole process.

Most importantly, with the scheme of buying a car in Dubai, you can not only buy a reliable car at a reasonable price, but also have a pleasant vacation, as Dubai is a great place for tourism.

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