BANKING SERVICES – UAE

With our dedicated services, get easy access to opening a bank account and other financial assistance

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.

" At Panacea Biz, backed by our expert Banking Team, we have years of experience helping our clients to open all types of bank accounts in UAE."

You can count on us.

Steps For Opening A Company Bank Account in Dubai

Select a suitable Bank

Arrange all necessary Documents

Submit Application

Get Approval

Deposit Initial Funds

Documents Required For Opening A Company Bank Account In Dubai

WHATS APP

+971-55-3507705

Challenges In Opening A Company Bank Account in Dubai

Opening a Company Bank Account in Dubai is one of the most tedious task. It is essential to adhere to the strict laws and regulations set by the governing authorities.

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.

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RESIDENCE VISA

PHYSICAL OFFICE

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

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PHYSICAL OFFICE

HIGH RISK INDIVIDUALS

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


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HIGH RISK INDIVIDUALS

HIGH RISK ACTIVITIES

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


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HIGH RISK ACTIVITIES

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.
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MINIMUM BANK BALANCE

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.
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STRICT REGULATIONS

Choosing The Right Bank For Your Corporate Account

Choosing a right bank for opening a Company Bank Account is very important for any Business. Before finalizing a Bank, following points must be considered:

Reputation of the Bank

The reputation of the Bank is of utmost importance. Select a Bank, that can support your Business with proper Services.

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.


Compliance

The UAE has very strict Banking Laws & regulations. Make sure that all processes must be legally complying. 

Type of Account

Various types of Bank Accounts are offered by Banks. Choose a type of bank account wisely, that caters your needs.

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.



Documentation

Documents should be submitted correctly and on time to ensure a proper submission of application and to get a timely Approval.

Services Offered

Do a comprehensive study of Services and Facilities offered by a Bank.This will help you in comparing with other Banks.

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.
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+971-553507705