Note: The necessary documents for opening an offshore bank account in Dubai will differ based on the bank and the corporate structure of the company. Companies with corporate shareholders located outside the UAE will typically need to notarize and attest all parent company documents both in the country of origin and again in the UAE.
Yes, in most cases. However, banks often limit the facilities available to non-residents, typically allowing only the use of internet banking for online transfers. Credit or debit cards are usually not provided for non-residents.
Most local banks require a minimum balance, varying depending on the bank and account type. Typically, the average monthly balance should range between AED 20,000 (approx. US$ 5500) and AED 150,000. Falling below this amount may incur nominal fees.
There's no set timeframe as each bank has its own procedure. It generally takes around 2 to 4 weeks to open a bank account for an LLC or Free Zone company in the UAE. However, this isn't guaranteed, especially for Offshore Companies, due to internal compliance and management approval.
We collaborate with most commercial banks in the UAE and several local private banks. For those not needing a local bank, we partner with international banks in the Caribbean (St. Lucia, St. Vincent and the Grenadines), Mauritius, Malta, Isle of Man, Singapore, and Qatar. These banks offer multi-currency accounts and banking via internet, telephone, or fax. Debit cards are available depending on the account type.
Yes, for account openings in the UAE. We have agreements with offshore banks where we obtain client signatures and verify authenticity. However, all required information and documents must be provided by the client.
As the corporate director, we assume full control of the company's bank accounts. We provide multiple authorized signatories to ensure banking requirements are met, even if your dedicated administrator is on leave. This relationship is governed by our standard Terms and Conditions of business, with authorized signatories acting only upon express written consent and instructions from the beneficial owner.
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