Dubai is a great destination to start your next big venture. Being tax-free makes this city extremely business-friendly. The banking industry in the UAE is synonymous with stability, thanks to high levels of security, reliability, and excellent services, and are recognized worldwide. These qualities are the very incentives that investors and businessmen across the world, seek. Grab the opportunity to open a corporate bank account in Dubai or anywhere in the UAE.
The process of opening a corporate bank account in the UAE is much straightforward, as the country is home to a large number of highly reputable national and international banking institutions. Under normal circumstances, opening a corporate bank account without a personal presence of a company shareholder is impossible, and the procedure is declared invalid with the account blocked. Alternatively a bank representative can meet the Shareholder in the applicant’s country(if the bank has a branch in that country) to complete the procedure to onboard.
It is also important to note, that most of the UAE local banks require an average minimum monthly balance to be maintained in the corporate bank accounts. Depending on the type of the account and the Bank, the minimum balance can be from AED Fifty Thousand. Should this balance fall below the set minimum threshold, the account will attract a small fee.
With the recent developments related to COVID- 19, the UAE Central Bank has relaxed some procedures, temporarily, to enable business men to open business accounts remotely and at a much faster pace.
GRG Corporate Services can play an important role in being an assist for you. Bank accounts being an integral part of company setup, our special tie ups with banks, will allow us to arrange the bank meetings with the appropriate bank and a reliable relationship manager. The RM then, will be able to assist you in opening the account and its management.
GRG continues to stay in the picture, handling frustrations that may arise, and enabling a seamless assistance with our trained personnel. We understand how valuable your time is and we ensure, you making a single trip to UAE for a day or maximum two. We undertake the rest of the procedures until your bank account is opened. (For the time being, till Covid restrictions apply, we can arrange to open the account remotely). We assist in opening accounts for all types of companies, viz, UAE Mainland companies, Free Zone Onshore and Offshore companies. Our motto is “we make your dream become a reality”, as you enjoy all the benefits of UAE banking.