A bank account is definitely one of the most important requisites of starting a business. The UAE has a reputation as a global leader in banking, so opening an international bank account in UAE should never be out of the question.
UAE International Bank Account Benefits
Here is a list of benefits of the UAE relating to safe banking in a rich and economically stable country with huge financial reserves:
- Safe and adequately capitalized solid banks with 100% government guarantees for the local value of the deposits
- Political and financially powerful and independent country with no geopolitical risk which can withstand effectively against EU type attacks and which are not connected, dependent or in the same geographic region with Europe or America
- A country with no currency control restrictions or limitations in the movement of capital and cash withdrawal
- UAE does not appear on any “black list”. The country is on the “white list” of OECD and FATF, and is not subject to the sizable pressures that other countries currently face
- Full exemption from taxation of interest
- Banks which allow the possibility of easy and no time consuming opening procedures
- Currency exchange rate stability
- A system with solid anti-money laundering regimes with rigorous due diligence procedures
- Advanced banking system that allows 24/7 online access. Offshore bank accounts are operated by online banking modules which are developed by international IT security standards
- Various modern financial instruments and investment solutions (financial products, investment funds, etc.)
- Abundance of credit facilities and loan programs
- Prompt corporate bank accounts opening and other types of private and corporate banking services, availability of cheque books and corporate debit cards
- Systems of electronic and telephone banking
A UAE international bank account combines western standards with superior service and banking privileges that unlock valuable opportunities. With business friendly policies and streamlined regulations, the banking infrastructure in UAE offers local mobility with international outreach.
Zola Group has close working relationships with a number of UAE local banks and banks across the globe. Depending on the emirate you choose, you will find our many years’ experience and expertise has been invaluable in identifying and working with reputable and leading offshore and international banks.
We regularly review the best offshore banks and offshore banking opportunities for business purposes in the marketplace and recommend those which we believe to be best suited to meet your identified offshore banking needs.
To find out more about what do you need to open a bank account in any part of the UAE get in touch with us today and we will help you open the right bank account according to your needs.
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