Business Account for U.A.E. resident in Dubai
- Thread starter eminem24
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Can you receive payments from clients in any currency in your SwissQuote trading account? I am in the process of moving to Dubai and I asked SwissQuote if they would open a business account for me - and they said flat out no and that they only offer trading accounts.
Ebury 7-10 working days:
· For an onshore or freezone company:
o 8,500 AED for account opening, access to our EBO platform and access to local collection accounts.
o 4,000 AED per IBAN needed (These are held in the company name, and allow the business to invoice their clients with their own iBAN account under their name, and other IBAN's are only necessary should they want accounts in other currencies)
· For an offshore entity:
o 12,500 AED for account opening, access to our EBO platform and access to local collection accounts.
o 6,000 AED per IBAN needed (These are held in the company︀ name, and allow the business to invoice their clients with their own iBAN account under︁ their name)
· These are one off fees, and after they are paid there︂ are no ongoing administration charges, and no minimum balances across any of our accounts.︃
· For an onshore or freezone company:
o 8,500 AED for account opening, access to our EBO platform and access to local collection accounts.
o 4,000 AED per IBAN needed (These are held in the company name, and allow the business to invoice their clients with their own iBAN account under their name, and other IBAN's are only necessary should they want accounts in other currencies)
· For an offshore entity:
o 12,500 AED for account opening, access to our EBO platform and access to local collection accounts.
o 6,000 AED per IBAN needed (These are held in the company︀ name, and allow the business to invoice their clients with their own iBAN account under︁ their name)
· These are one off fees, and after they are paid there︂ are no ongoing administration charges, and no minimum balances across any of our accounts.︃
I was thinking 12,500AED + 6,000AED = $5,000. You saying with 12,500AED you get an IBAN included with local account details?
I have seen a video on YouTube channel about money laundering scheme, some UK drug dealers made great scheme, they just been buying gold and selling it in Dubai. Probably after that schemes Dubai don’t wanna ruin its reputation and make uae it offshore country
been in Dubai recently btw like a month ago and got corona there lol
been in Dubai recently btw like a month ago and got corona there lol
I have no idea. Never even heard of Ebury before it was posted here. 😕
P.S The money they are asking to open an account is preposterous.
P.S The money they are asking to open an account is preposterous.
Update: for AED 8,500 (onshore, freezone) or AED 12,500 (offshore) you get USD and AED IBANs.
If you want any other currency IBAN you need to pay extra AED 4000 or AED 6000.
AED and USD IBANs are held in UK with Barclays or Citibank.
I have not found anyone who would be using them though. I also never heard of them until recently, but they seem to have offices worldwide...
If you want any other currency IBAN you need to pay extra AED 4000 or AED 6000.
AED and USD IBANs are held in UK with Barclays or Citibank.
I have not found anyone who would be using them though. I also never heard of them until recently, but they seem to have offices worldwide...
I tried to open 3 accounts with them and the due diligence required is pretty thorough (to be expected), all got rejected unfortunately. To be fair the companies we attempted with didnt have the most straightforward structure and were UK partnerships. As I was told they started offering business accounts and got so many account requests from RAK ICC (offshore) that they have become stricter. They are predominantly an FX broker rather than a 'bank' which is why they are not well known in these circles. They aim to compete with the large FX brokers ie: FX Pro, Moneycorp, Argentex
Do you provide USD accounts?
So let's say we need USD and EUR accounts. How much will that cost?
Where is the the USD bank address/country?
What are the︀ running costs (monthly/yearly)?
How much does cost to send money (to other iban or swift)?︁
Do you offer cards?
Can withdrawals be made in cash in UAE?
Thank you for︂ answering these.
I think it will also help other people on this board.
So let's say we need USD and EUR accounts. How much will that cost?
Where is the the USD bank address/country?
What are the︀ running costs (monthly/yearly)?
How much does cost to send money (to other iban or swift)?︁
Do you offer cards?
Can withdrawals be made in cash in UAE?
Thank you for︂ answering these.
I think it will also help other people on this board.
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