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Open a corporate account in UAE

The UAE financial system is synonymous with stability. Local banks are recognized worldwide thanks to their top-rank security, reliability and excellent service. As a result, more and more businessmen from different countries wish to open a bank account and conduct their business in this rapidly developing country.

It is important to note that each financial institution has its own specific requirements for opening a corporate bank account. This procedure requires a lot of time as well as certain expertise from an applicant. There are mandatory stages of registration, but every bank can have its unique peculiarities. That is why you should entrust this to our experts at S.H Business Adviser. Our qualified specialists will help you open a corporate bank account in the UAE quickly and easily while also providing you a comprehensive consultation and answering all your questions.

Open corporate bank account in UAE

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Opening a corporate bank account for clients from CIS countries has become more difficult due to tougher procedures of checking new clients. It is possible for a person to visit the UAE and open a company here, spend time and money, and still to fail opening an account. Moreover, you will not be informed about the reason of denial. To avoid such an outcome, contact our specialists, and we will prepare all the necessary documents in advance to open a bank account in the UAE. Our skilled specialists are familiar with all the aspects of the process and have the information about which company account you can open in every bank.

Companies in Dubai are classified according to the degree of risk for banks. Offshore companies have the highest risk degree and are the hardest ones to open. On the second and third places are onshore companies opened in free zones without visas outside of Dubai and onshore companies in Dubai free zones with a visa registered for the company founder. A local company with an office, inside or outside of free zones, is the easiest way to open a bank account.

Our professional team knows all the details of opening accounts in the UAE, provides full support for opening an account, personal assistance and acquisition of all the necessary tools for managing your account. To learn more, contact us by the given number.

Corporate account in UAE bank: features

Requirements for opening a corporate bank account in the UAE for foreign companies are constantly changing and depend in a specific bank. If you wish to an open such an account, contact our specialists for more detailed consultations. Another important point is that physical presence of the company applicant is mandatory for registration. This requirement is regulated by current legislation and applies to all financial institutions in the UAE. It is impossible to open an account without a personal presence of a company founder. Otherwise, the procedure is declared invalid and account will be blocked.

There is no legal to set a corporate bank account in the UAE without a founder’s visit to the bank. A bank representative can meet a founder in the applicant’s territory and open a corporate bank account during a private meeting. Moreover, registration can be made in one of the bank’s subsidiaries outside of the UAE.

Since the UAE is not a member of the Apostille Treaty (as of 5.10.1961), founding documents are subject to obligatory legalization. This is a difficult and complex process, which requires certification of documents in the UAE consulate in a country where the legal body is registered, as well as legalization in the UAE Ministry of Foreign Affairs. To speed up this process, we recommend you to contact our specialists.

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List of documents required to open corporate account

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To open a corporate account, a legal body should provide the following list of documents:

  • Founding documents, license, certificate of registration, company charter and others depending on the company type;
  • Applicant’s international passport;
  • UAE residency visa (depending on the bank).
  • Company owner’s passport copy (if a shareholder is not the company’s president).

How to get a check boor and a debit card

Payment by checks is very popular nowadays owing to reliability and safety if this method. To obtain a check book for a business account in the UAE, a company founder should have a residency (resident visa) in the country. Note that financial operations with a check book are strictly regulated by the bank and legislation of the UAE.

A foreign company can issue a debit card if necessary. Debit cards have many benefits, such as conduction of any financial operations or withdrawal of cash from any ATM. Some cards have restrictions directly set by bank, so you should consult bank representatives or our specialists when having your debit card issued.

Online banking

Banks in the UAE offer «Online banking» service for all clients. This gives you a perfect way of managing your company’s assets, no matter where you are. Moreover, online banking in the UAE has multi-level protection. You can perform any financial operations online.

Contact our specialists, who will help you pick the best bank in the UAE taking into account specifics of your business. To learn more, contact us by the given number by submitting an online request.