Why choose UAE to open your corporate bank account?

UAE is known to be home for a lot of international brands. Beginning a business in Dubai is a good idea as the city’s economy has been growing for a considerable amount of time. When starting a business in Dubai, one of the most vital steps to take is opening a bank account for the company. This can be quite advantageous. The various benefits of opening a corporate bank account in the UAE are as follows:

• Availability of asset management
• Availability of a dedicated regional manager
• Easy international access
• Transfer of funds with ease
• Investment period flexibility
• High level of secrecy
• Efficient mobile and online banking services
• Non-restrictive banking options
• Zero taxation

While opening a corporate account in UAE, one can be concerned about safety. Hence, here is a brief look into the safety measures put in place.

• Dubai’s banks have long been at the forefront of adopting cutting-edge technologies like AI and Blockchain, and customers can expect a seamless digital and mobile banking experience as well.
• The UAE city of Dubai has an exceptionally secure banking system across the board. This is due to the fact that the UAE/Dubai government supports them with the resources of reputable private groups or major international banking institutions.
• Foreign business owners setting up shop in Dubai have easy access to banking services provided by financial institutions in the United Arab Emirates.
• Getting a bank account in the UAE can be challenging because of the country’s commitment to fighting financial crimes like money laundering with stringent regulatory requirements and compliance pressures.

A corporate bank account can be opened in Dubai (UAE) by either a resident or a non-resident of the country, provided that they handover the following information.

• Certificate of good standing
• Company extract
• Complete set company incorporation documents that are certified
• Copy of the shareholder representative and Emirates ID
• A detailed business plan
• Disclosure of the source of funds
• Information about the type of activities on the account
• Names of at five suppliers and five customers at least
• Passport

• Registry of shareholders
• Utility bills

How can Consultycs help?

As a leading business Consultancy firm in the UAE, our experts understand the industry norms and various banking requirements etc. We will help you highlight the same in your application with the bank of your choice.

We also provide a complete package where in most cases establishment of a bank account is a part of establishing the business.