CoRPORATE BANK ACCOUNT
your BANK ACCOUNT in UAE
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BANK ACCOUNT in UAE
The vast majority of world offshore jurisdictions are facing serious problems due to implementation of the Common Reporting Standard (CRS), under which all your financial data is reported to the country of your tax residency (in a CRS participating jurisdictions). Today, even Swiss and Singapore banks can’t ensure 100% secrecy of their customers’ data.
In this spotlight, UAE banks are the best option as the UAE Resident bank account information is non-reportable. Aside from that UAE banks have a strong economic performance and autonomy from international financial organizations what makes UAE a highly desired destination for foreign businessmen and investors to park their monetary assets.
UAE’s banking sector comprises local and international organizations most domestic businessmen have never heard of. Therefore, you should entrust this task to the local experts. Our company provides a full range of services regarding opening and maintaining a bank account in the UAE. Specialists with long-standing experience will suggest you the bank which meets your requirements to the fullest, saving your precious time.
Requirements for opening a corporate bank account in the UAE for foreign companies are constantly changing and depend on a specific bank. If you wish to 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.
Any natural or legal person may open a bank account in the UAE. Keep in mind that there are certain restrictions to financial instruments and services for residents and non-residents of the country. In order to open a bank account in the UAE, non-residents have to pass a procedure to verify their identity and submit a number of documents. Moreover, there is no possibility for them to obtain a check book. To receive a debit card, you need to make a deposit on the account. Residents of the UAE can utilize all the financial tools and undergo a simplified procedure of opening a bank account. Out experts are ready to provide support at all stages of opening of a bank account.
RESIDENT BANK ACCOUNT
After setting up a company in the UAE you can apply for a personal and corporate bank account opening as a UAE Resident. Such bank accounts are the most beneficial for foreign investors because they are non-reportable and provide many opportunities to bank account holders.
Non-reportable bank account
Any bank facilities
Debit and credit cards
Dedicated Account Manager
If you did not obtain UAE Residency and are willing to open a UAE Bank Account for yourself or your business, then there will be certain restrictions which you will face after opening a Non-resident Bank Account in UAE.
It should be mentioned that such a bank account will be:
Reportable to the jurisdictions of the owners’ tax residency
Takes more time to open
Limited in bank facilities
Limited in online banking
Not allowed for issuing credit or debit cards
OFFSHORE BANK ACCOUNT
Want to open an Offshore Bank Account in UAE? Here are the benefits and restrictions of such Bank Accounts:
Extra secured and have the highest privacy level
Allow 100% repatriation of capital and profits
Fast to open
Can be opened without UAE Residence Visa
Have no currency or funds transfer restrictions
Have user-friendly online banking system
Not eligible for cheque books, credit or debit cards and ATMs
contact us now to know more
AAZ International Corporate Services will assist you and guide you through a hassle-free process than you could imagine. We take care from filling up the application forms, submission and collections of payments and required documents on your behalf, up to obtaining your UAE residence visas and bank account.
We are your Business Advisors
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 today.