Quote from: AmoreJaz on June 20, 2024, 11:35:32 PM

Quote from: CryptopreneurBrainboss on June 20, 2024, 09:45:01 PM

It has a very biased and heavily religious influenced legal system which is not acceptable for most mega scale business dealings. If you go into debt in Dubai, you will be jailed until you pay it off, this is not a normal practice in most other advanced economies.

I find this very disturbing, how do they expect you to pay your debts when you're in prison or are they trying to make you useless so you won't be able to clear your debts and will have to owe them forever. Are they expecting you to get into more debts by borrowing just to pay them and when you get out you begin to struggle since you are in debt.

As I have lived for quite sometime in Dubai, you can already pay your debt by giving up yourself in prison. They will deduct certain amount from your debt everyday you are staying in prison. And the good thing is, some people are making it as a business. They will incur a lot of credit card debts and they will just let themselves to be put in jail. Some people that I knew of stayed about a month or longer in prison and afterwards, his debt-free. This is what I know about debt cases. And that was about 10 years ago that I've been there and that was the practice. I don't know if you are facing other serious criminal charges. And from what they described, their prison was not bad at all to stay. I believe their prison is nice and so these people don't have qualms to be there. Staying there and when you get out, your debt-free. That I can say is a treat and people for sure are abusing this system.
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The law there does not burden you, if you don't want to go to prison then pay off the debt, if it is due then you must be ready to go to prison. I think the rules there make sense as long as the intentions are good, but if the intentions are contradictory then don't stay in Dubai and in any country the law like this will be the same. Each country implements its own system, it may not be suitable for people outside Dubai but for its citizens it is not a problem. Just like tourists who visit our country, do the rules have to adjust to routine rules or vice versa, tourists have to continue to obey our rules. So basically wherever you build a business, being in debt and so on depends on how we respond and are able to pay it off. People who complain about the rules in a region/country sometimes have no intention of obeying them from the start.