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Ample of opportunities and entrepreneur-friendly laws and regulations have already created the UAE as the benchmark for FDI.
Amendments in commercial company law with advanced infrastructure makes the UAE the most desirable business destination. Opening a business account is the most important task in the “to-do list” even before you start with any kind of business operation. Even an amateur understands the need for a business bank account. Transactions become easier through a business bank account. Credibility and visibility are the necessary attributes of a business and it gets stronger with the clients in the presence of a business bank account. Flourishing businesses also require capital and with the support of the bank, it becomes easier. The amenities offered by the bank are very supportive and add to the growth of your business.
Company formation consultants in Dubai can help you with everything related to company formation in Dubai, from company registration to business licensing and ensuing support in the form of cost-effective bookkeeping, VAT-compliant accounting, and audit solutions as well as legal assistance.
Also Read
Business Account Requirements
There is a certain requirement to open a business bank account in the UAE. They are as simple and common as may be in your nation.
- Maintain a Minimum Deposit
- Average Balance Requirement
- Know Your Customer (KYC)
For the smooth and seamless functioning of your business, you need to provide authentic details of your customers to the bank. It will not only ensure fluid transactions but also permit the bank to understand your business in a better fashion in order to assist you.
- Previous Current and Savings Account Details
Also Read
How to Open a Bank Account in the UAE?
Required Documents for the Process
Required Supporting Documents
- Business model/website/company profile
- Bank account statement of the last 6 months (personal/company from the UAE/native country)
- Utility bills as an address proof (for certain nationalities)
- Applicant profile
- Applicant profile
- Debit and credit invoices
- Profile of existing or potential clients
- VAT certificate
The subject matter presented here is for general guidance only. Please consult a piece of expert advice for the best solutions. You can reach out to us and our team of professionals will guide and assist you through.
