Business Account for U.A.E. resident in Dubai

[CaptK]

Have you tried the HNW departments. I have clients who bank with⁤ DIB, Mashreq, SIB and ENBD. They all are in precious stones and metal.

Depending on⁣ cash funds available if you have 150K to put as your minimum account balance you⁢ should be fine.

What licence do you have?

 

[4br]

Do you have any idea what that is?⁤ I was surprised that even a transfer of 99,000 euros went straight though with no⁣ questions. They have never queried the sources. I guess I provided them when I created⁢ the account though and they are all good companies with Wiki pages and based in︀ normal countries.

 

[rowena]

They don't consider 99 or 100k as a big amount transfer, generally 150-250k EUR or⁣ equivalent. It depends on your TW profile.

 

[ImKing]

DBS sounds⁣ to me very good for a UAE company. The minimum account opening amount is 300.000⁢ US$ or is it € ?

What are the requirements to open the account, beside︀ all incorporation documents, passport from me and director what else?

 

[CaptK]

USD or equivalent as AED is pegged to the Dollar.
ENBD is 150K⁠ minimum if you want a quick acceptance.

Reference letter from your current bank
6 months⁤ bank statement personal
6 months corporate bank statements
Business profile
3 suppliers
3 clients
Old invoices that can be matched on the bank statement.
Contracts
CV

 

[blizz]

that's the same as the Cyprus banks asked for in the past when they opened‌ for offshore companies.

The reference letter is the most sensitive part, it means, your current‍ bank will know what you are going to do. Unless you get this done with⁠ the help of darks ofcourse.

 

[CaptK]

There are ways to get⁤ round the reference letter.
Remember if they do request one it's address to you, not⁣ anybody else and can only be verified.
If your bank ask why you require it⁢ you tell them that you are about to go into business in UAE and your︀ client has requested it.