off-shore bank account for UAE company

[justaride]

Hello all

My first post here, hope to get some useful insights from you guys 🙂

I own an off-shore company in UAE. My company is providing marketing services to forex brokers. Those brokers are globally well-known and regulated by strict watchdogs such as FCA in UK, ASIC in Australia and FINMA in Switzerland.

Technically, those brokers are my clients and I get paid for the marketing services that I provide. I am not involved in any trade activity. On the outgoing payments leg, I remit payments to companies who are developers of the marketing tools that I use to provide the services to the brokers.

In short;

I get paid by forex brokers for marketing services and send payments to my service providers.

I am looking for an off-shore bank that would allow me conduct those operations. Any recommendations and comments are highly appreciated.

Thanks a lot

 

[negon]

It's going to be complicated with real banks since I believe they will want to see a detailed business description and an analytics report! What you may want to look into for your business are EMI accounts as discussed here a hundred of times. Otherwise you may want to travel to the UK, Switzerland or similar places and have an accountant or lawyer with you to convience such banks your business is legit.

 

[countryfree]

You may find my answer too easy, but if your company is in the UAE, how about getting a bank account there?

 

[justaride]

countryfree said:
You may find my answer too easy, but if your company is in the UAE, how about getting a bank account there?
Click to expand...

The UBO of the Company has to reside in UAE in order to be able to get a bank accouınt.

 

[justaride]

auric said:
It's going to be complicated with real banks since I believe they will want to see a detailed business description and an analytics report! What you may want to look into for your business are EMI accounts as discussed here a hundred of times. Otherwise you may want to travel to the UK, Switzerland or similar places and have an accountant or lawyer with you to convience such banks your business is legit.
Click to expand...

Thanks for the reply.

Does Revolut designate an IBAN in usd and euro currency to the account holder?

My clients can only forward payments over wire transfer so I will need an assigned IBAN in order to be able to receive the money.

 

[countryfree]

justaride said:
The UBO of the Company has to reside in UAE in order to be able to get a bank accouınt.
Click to expand...

OK, sorry, didn't know that. And that's too bad, as it is getting more and more difficult to open a bank account for a foreign company. You could probably find a bank in Switzerland, but fees would be really expensive. An EMI is probably the best solution.