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Our team of experts will guide you through the various options to choose the best bank account for your specific business needs, we have many years of experience in this area. We deal with both new business owners & existing customers, we will assist through the documentation process, checks on the trade licence and the genuineness of the company, in addition we assist with preparation for reports on the cash and check flow analysis that would need to be submitted to the bank.
The remarkable growth of private companies, transparent public policies, and 0% corporate tax rate has shaped the economic landscape of the UAE. More to this is an efficient banking system that provides conducive conditions for companies to operate so as to enhance their economic growth in the country. Dubai’s economy is on the rise these days with real estate improvements and increased tourist demand. With that, it seems banks are more willing than ever to lend.
The companies registered in the UAE can open a corporate bank account in the country irrespective of the type of company. The business owner has to submit the documents including initial approval, license details and other certificates to the bank for perusal and approval. This will also include the documents pertaining to the individual proving their identity. The UAE’s banks do not charge a fee for account opening, though many will charge an annual or transaction fee for their services. It is also worth keeping in mind that most accounts require a minimum balance of anywhere between AED 5,000 and AED 150,000. The account opening process can be difficult to navigate, many entrepreneurs opt to make use of business bank account opening services. This takes the headache out of corporate bank account opening in Dubai and can significantly increase your chances of a successful application. Another key reason behind the huge demand for UAE bank account opening services is the high level of privacy. This secrecy is one of the utmost reasons for the success of the UAE banking industry which is reliable and secured for your funds. As an Investor, considering this fact, you can be well assured that your privacy will be totally respected.
The requirements for opening an account vary from bank to bank, but the presence of a major shareholder or director is typically required. Sometimes attorneys can set up accounts on their clients’ behalf, though this is not often the case. To open an account, the first step is completing an account opening application, which will be supported by detailed company records. That information can include proof of business, like contracts and invoices, as well as information about the company’s clients and suppliers. The companies registered in the UAE can open a corporate bank account in the country irrespective of the type of company.
The benefits of having one of the best business bank accounts in the UAE can be seen clearly. These benefits include the tracking of the expenses of the business, easy calculation of the tax liabilities, and management of cash flow. UAE banks take due diligence incredibly seriously, so you can be confident that your corporate funds are always in safe hands. That’s why a UAE corporate bank account is the easiest and most secure way to send and receive money in Dubai.
Many UAE banks also offer multicurrency accounts, allowing you to send and accept payments around the world without restrictions. A UAE bank account is also often a prerequisite to accessing other forms of credit. Some of the benefits of opening a corporate bank account in Dubai, UAE are as follows:
It’s easier for business owners to monitor cash flows and transactions through a business bank account.
Business owners can use a business account to keep track of their spending. It enables them to manage costs more effectively.
Organizations can easily assess their tax liabilities with a business account. It aids in maintaining tax payment transparency.
Many clients are hesitant to deposit funds into a non-business account, they often prefer sending payments to an account in the name of the business rather than the owner. It is perceived as more professional and inspires confidence in potential customers.
If a business owner wants to take loans for their company or get a business credit card, having a corporate account can help.
This bank account enables the company to accept credit card payments from its customers.