Opening a corporate account in the UAE
In the last year, due to the tightening of the rules for verifying new bank clients, opening a corporate account for CIS citizens has become not an easy task. A person can come and open a company, and spend time and money, but his account may never be opened. In addition, no one will even tell you the reason for the refusal. To avoid such an outcome, contact the specialists of our company: together, we will prepare all the documents necessary to open an account in a UAE bank in advance. Our experienced specialists know all the nuances and have accurate information about which banks open accounts for which companies.
In Dubai, there are divisions into types of companies according to the degree of risk for the bank. Taking into account the degree of risk and the level of complexity of opening an account, offshore companies are in first place. Next come onshore companies in visa-free zones outside Dubai. Then onshore companies in free zones of Dubai and companies in free zones with a founder’s visa. The easiest option for opening an account is a local company with an office, whether it is in a free zone or local.
Our team of professionals knows all the intricacies of opening accounts in the UAE and provides full support during opening, personal support, and obtaining all the necessary devices for managing the account. For more details, call the specified phone number.
Corporate bank account in the UAE: features
The procedure of opening a corporate account for foreign companies is constantly changing in the UAE and depends on each bank individually. If you would like to open an account for such a company in the UAE, please contact our specialists for more detailed advice.
An important feature is that the founder of the company must be present in person when preparing documents. This requirement is established by current legal regulations and is regulated for all financial institutions in the UAE. It is impossible to open an account without the personal presence of the founder. If this happens, the procedure will be considered illegal and the account will be blocked.
However, there is a legal way to register a business account in the UAE without the founder going to the bank. A bank representative can visit the founder of the company in the applicant’s territory and, during a personal meeting, carry out the procedure for opening a corporate account. In addition, the account registration procedure can be completed at a bank branch outside the United Arab Emirates.
Since the United Arab Emirates has not signed the Apostille Agreement (dated October 5, 1961), the constituent documents of a foreign company must undergo the legalization procedure. This is a complex and time-consuming process, it requires certification of documents through the UAE consulate in the country in which the legal entity is registered, and then legalization by the UAE Ministry of Foreign Affairs. To speed up the process, we recommend contacting our specialists.
List of documents required to open a business account
When opening a corporate account, a legal entity must provide the following set of documents:
- constituent documents, license, certificate of registration, company charter, and other documents depending on the type of company;
- the applicant’s international passport;
- UAE resident visa (depending on the bank);
- a copy of the passport of the company owner (if the shareholder is not the director of the company for which the business account is opened).
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Price |
|
|---|---|
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ENBD |
3 000 $ |
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ADIB |
3 000 $ |
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MISR Bank |
3 000 $ |
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WIO |
1 000 $ |
How to get a checkbook and debit card
Today, payment using checks is quite common. This can be explained by the high level of reliability and safety. To receive a checkbook for a business account in the United Arab Emirates, the founder of the company must have a residence permit (resident visa) in this state. It is important to know that financial transactions using a checkbook are regulated by bank rules and UAE legislation.
A foreign company has the right to issue a debit card if necessary. A debit card provides a lot of advantages, including carrying out any financial transactions and withdrawing funds from any ATM. Some types of cards have restrictions that are set directly by the bank. Therefore, when issuing a debit card, be sure to ask a bank employee or contact our specialists.
Online banking
Local banks in the UAE provide Online Banking services to all customers. This is an excellent opportunity to manage enterprise assets regardless of your location. In addition, online banking in the UAE features multi-level protection and security. All types of financial transactions can be carried out online.
Contact our specialists and they will help you choose the best bank in the UAE, taking into account the specifics of your business. You can find out more details by calling the specified phone number or filling out an online application.
