Requirements for open business bank account dubai
The United Arab Emirates is known for its famous banking industry and the high level of (privacy) data protection that banks offer their customers. It is an efficient banking system that offers companies favorable framework conditions in order to stimulate their economic growth in the country.
Another important reason for the high demand for bank account opening services in the UAE is the high level of privacy. This secret is one of the main reasons for the success of the UAE banking sector, which is reliable and safe for your funds. In fact, you can be sure that your privacy will be fully respected. Let us give you some information to consider before applying opening business bank account dubai.
A major reason for the high demand for banks in the UAE is the high level of privacy. This secret is one of the main factors behind the success of the UAE banking sector, making it efficient and safe for your funds. With this in mind, you can be sure that your privacy will be fully respected. You should be aware that in the past few years several agreements have been signed between the UAE and other countries to combat tax evasion. In order to strictly protect privacy, banks may have to cooperate with foreign authorities.
So once you’ve decided which bank to apply to, the next thing that may bother you is whether your presence is required to submit the application. As mentioned earlier, if you have a startup or SME registered in the UAE, local banks are more recommended and suitable for you. Ay or 1 to 5 hours to submit the application and verify the passport in the presence of the banker. For documentation, you need to consider the business activities, number of shareholders, the business background of management, and the business plan for the new company in the UAE.
List of documents required for the bank account opening in the United Arab Emirates. Please note that this may vary depending on the scope of business of the respective customer and the requirements of the bank.
Comprehensive curriculum vitae: it must contain your professional and business experience over the past 57 years. And make sure that the business of the company you are about to open business bank account dubai for corresponds to your personal work experience in a particular industry.
Invoice from a utility company as proof of address (issued in the last 3 months);
Company business records
Last 6 month’s Personal bank statements for each shareholder which include transactions
Company account statement for the past 6 months for the shareholder’s existing company (if applicable);
Company document showing proof of ownership of your existing company for which the declaration is being presented. This can be an inventory certificate or another document issued by the authority within the last 6 months.
Business plan, which must contain all information about the company’s business activities, financial plan, brief business development plan, potential customers, suppliers (for a company) and partners, the background of the management team.
