OPENING A BUSINESS BANK ACCOUNT IN UAE MADE EASY

No its Not possible to Account any Business Bank account remotely with UAE banks.

Its a requirement of Central Bank that you have to be present physically while opening your Freezone Bank Account.

Well it is possible to have debit cards with most of UAE banks while you open Business Bank Account with them, however in order to get credit card you have to deposit some amount with bank, furthermore in regards to Business Loans yes it only possible if your company is 1 year old and you have got good turn over by showing company operations profits audit reports etc.

We try our level best but we highly recommend to setup your company through us so that we will set it up in way that it will be easy to open your bank account since there are few business activities due to which banks take longer time in order to open you company account.

There are lot of factors banks consider before opening your account so its impossible for anyone to Guarantee you about your account opening since the approval of account fully depends on the bank.

Each case goes to few departments of the bank where it has to be approved before the account gets opened.

If the bank has any questions or needs clarifications, it will contact you directly with the inquiries.

The more clear picture about your business you give to the bank, the higher your chances of account opening are.

Since We have assisted lot of freezone companies in opening Business Bank Accounts so we have enough experience about documentation and requirement so prepare your account application in a way that it makes smooth and fast for your business account opening.

Yes, Emirates ID of authorized signatory(s) of the company is a mandatory requirement for the account opening.

Most local financial service providers (FSP) in the UAE require a minimum balance to be maintained, which varies depending on the FSP. Generally, corporates must maintain a minimum balance of AED 10,000 to AED 500,000. However, zero balance facilities are also offered with a minimum account maintenance fee.

Yes, you can start the process of opening your account remotely. However, you may require to be present in UAE depending on your chosen financial service provider (FSP) to fulfil the verification requirements.

For digital FSP, the onboarding process is entirely online compared to the traditional FSP.

A virtual account (VA) or a Virtual IBAN account is an IBAN reference issued by a bank to allow incoming payments to be
directed to a physical bank account. Using a virtual account, you can send and receive money worldwide.

The IBAN should generally be received within five working days after the application is submitted and approved.

The funds will go directly to the master account registered for the Virtual Account. With this master IBAN account, companies can create and allocate a segregated virtual IBAN account to each of their customers to send and receive payments.

Yes, you receive the virtual IBAN under your company name.

Yes, it supports SWIFT transfers in multiple currencies, both inbound and outbound.