BANKING SERVICES - Panacea-Biz

COMPANY BANK ACCOUNT

Opening a Corporate/Company Bank Account is of utmost importance after obtaining a Trade License for any Company. It is noteworthy that for any Business transaction or for any payment’s solution, company need to have an account with bank. Owing to stringent Anti-Money laundering regulations and other KYC requirements turns opening Bank Account an uphill task. For showcasing the banking standards at world level, all operating banks in UAE have to meet an exceptionally high level of Compliance to meet an International Banking Standards. All banking laws are strictly followed in UAE. So as the requirement of Documents differs from Bank to Bank too. At time, it can be quite frustrating to get a reliable information from preferred banking partners. Therefore, it is important that you have the right banking experts, who can guide you with the process of opening Bank Account.

Select a suitable Bank

Arrange all necessary Documents

Submit Application

Get Approval

Deposit Initial Funds

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+971-55-3507705

Company Legal Documents like copy of Trade License and Memorandum of Association (MOA).
Copy of Passport, Visa and Emirates ID.
Office Tenancy Contract of Company.
Business Plan.
Personal CV.
6 Months Bank Statement (Personal or Company).

RESIDENCE VISA

Valid Residence Visa from UAE is a mandatory requirement for opening a Company bank account. Most of banks require a valid local address as well.

PHYSICAL OFFICE

For opening a Company Bank Account, its mandatory for an Entity to have Physical Office on a same Company name.

HIGH RISK INDIVIDUALS

Individuals from high risk countries may face problems in opening a Bank Account in the UAE.

HIGH RISK ACTIVITIES

Companies having high risk activities in License may face problems in opening a Bank Account in the UAE.

MINIMUM BANK BALANCE

There is a mandatory requirement of maintaining a minimum bank balance in order to to get an account opened. This minimum bank balance differs from Bank to Bank.

STRICT REGULATIONS

There are very strict Banking Laws & Regulations are in place in order to keep check on Frauds & Money laundering. Sometimes, taking a Compliance approval is difficult.

BOOK A FREE CONSULTATION WITH OUR EXPERTS

Customer Service

Choose a Bank that gives you best of Customer Service according to your requirement. It is essential that you choose the bank that helps you to resolve all your queries in a timely manner.

Fees and Charges

Usually for all Services Bank used to charge certain Fees. Before choosing a Bank do compare the charges. In a long run this will make a huge difference.

Minimum Balance Requirements

There is a mandatory requirement of maintaining a minimum Balance in Bank Account. It differs from Bank to Bank. Make sure that you check the minimum balance requirement before finalizing a bank.

PICK ANY OF OUR BANKING PARTNERS

Whether you opt for a Mainland business, Freezone or Offshore, open a business account instantly and expand into the globally-connected UAE market with PanaceaBiz. We have closely worked with many banks in the UAE and continuously remain updated with the latest proceedings.
Simply, choose one of the business bank accounts from our banking partners in the UAE and let us handle the rest.