Dubai has a business-friendly environment, a skilled workforce, and strong global links make it a popular place to do business. The optimistic trends for business don’t look to be slowing down. A recent survey shows that small businesses expect strong growth in the near future – making it a great place to get started with a company of your own.
When establishing an enterprise in Dubai, we assist in the process of opening a business bank account. While the rules are intricate and vary based on individual cases, clients should initiate discussions with their selected bank for a clearer understanding.
Exactly what documents you have to open a business bank account in Dubai will depend on the type of account you choose. You can open a partnership company that provides to need documents relating to all beneficial owners or those with a 25% share (or more). You need a mandate form signed by all directors to confirm they agree to the opening of the account for a limited company.
Only in the case of the account being opened in Dubai. We are required agreements with offshore banks where we obtain the client’s signatures and verify their authenticity. However, all the information and documents required by the bank will have to be provided by the client.
You have a business that is not registered in Dubai then you should contact your bank directly and ask them to help you.
Bank of Dubai has several business banking types, including products aimed at businesses that are just starting out. If you’re a sole trader you may be able to apply online and complete the process over the phone. If you’re applying for an account for a partnership or limited company you’ll need to visit a local branch.
You can use an online currency converter to check the actual value of your money before you transfer internationally. If you want to transfer, you might consider using an alternative service like transfer wise. The true exchange rate you can find on Google, but since your international transfer is made with two local transfer countries, the large swift transfer cost is also cut out, leaving you with more money in the end.