Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
The UAE is the leader among the Arab countries in terms of attracted foreign direct investment. The annual inflow of investment capital to the Emirates is about $120 billion. These indicators make it possible to conclude that opening an account in the UAE is a reasonable course for individuals who want to keep their funds and for business, which requires competent management of financial risks.
For what purposes are bank accounts in the Emirates used
- Doing business. The functioning of international and private companies in the territory of the Arab Emirates is fully possible only if there is a local bank account.
- Investing in regional projects. International companies can use corporate accounts to buy shares and chain papers in strategically important and priority projects in the UAE.
- Protection of especially large capital from the influence of inflation. In case of opening an account in local currency, the private person is maximally protected from default, as dirham is considered one of the most stable monetary units of the world.
- Business crediting. Local banks have a large-scale business loan that allows international corporations to expand their horizons without investment.
Peculiarities of opening a bank account in UAE
- The banks of the Emirates practically refuse accounts for companies from offshore zones due to increased control since 2017.
- Preferential majority of banks open corporate accounts only to local companies or international business with official representation in Emirates.
- To open an account it is required to confirm the real legal office of the company in UAE.
- The minimum average monthly balance on the company account must be at least $50 000, in the account of the individual – $1 370.
- Almost all Arab banking structures at the opening of any new account for non-residents require personal presence.
How to open an account in Dubai
Specialists of GBS Agency provide an opportunity to open a current account in EMIRATES NBD, MASHREQ BANK or NOOR ISLAMIC BANK in Dubai or other Arab Emirates in just 3 weeks. The cost of account registration is $2 500.
To open an account you will need:
- Identification of the person with full verification of all documents of the beneficiary;
- Verification and preservation of copies of ID-card of physical person (or international passport) or trade license of a legal entity personally by the manager of the bank at the place of account registration;
- Data about all the founders of the company, who own more than 5% of shares;
- Confirmation of the company legal address;
- Data on the capital and its origin for individuals or on the state of affairs of incorporations – for representations of international corporations.
On average, the term of opening a new account takes from 7 days to several months. However, the specialists of the company GBS Agency will take care of all the hardships of the procedure and simplify the opening of banking just for you!
Check out the details right now with our financial advisors!