UAE Corporate Bank Account
Opening a UAE corporate bank account is challenging for foreign investors due to time consuming opening procedures and poor bank service standards. The following is an overview of Healy Consultants' UAE corporate banking services: |
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| 1. | It is becoming increasingly difficult to open a UAE corporate bank account, especially for non-resident individuals and non-resident companies. On average, it takes approximately two months to obtain UAE corporate bank account approval, bank account numbers and internet banking access. |
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| 2. | The UAE corporate banking sector suffers from i) understaffed bank account opening departments with inadequately trained personnel resulting in poor service standards in the UAE corporate banking sector ii) increased demand from customers for UAE corporate bank accounts and iii) increased amounts of bank due diligence procedures designed to combat money laundering and terrorist financing. |
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| 3. | Thus, the UAE government requests local banks to implement strict 'know your client' procedures as part of their UAE corporate banking policy. A comprehensive UAE corporate bank account application is supported by detailed information on the company's activities (including proof of business such as examples of contracts and invoices etc), information on the company's clients and suppliers, as well as information about its management team (shareholders and directors) and financial projections. Our UAE corporate banking team will help prepare the necessary package of information to the bank's satisfaction. |
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| 4. | Healy Consultants is experienced in international banking and will prepare UAE corporate bank account application forms on our clients' behalf. Furthermore, our UAE corporate banking staff will attend a bank interview on your behalf to explain your company's business activities. |
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| 5. | Healy Consultants will open a UAE corporate bank account with one of the world's leading retail banks, including HSBC, Standard Chartered and Citibank. Thanks to the excellent relationship our UAE corporate banking team enjoys with international banks, our clients are not required to visit the UAE to open a UAE corporate bank account. |
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| 7. | Healy Consultants' fee to help clients open a UAE corporate bank account amounts to US$2,100. This fee includes the time spent by our UAE corporate banking team liaising with the bank, submitting the UAE corporate bank account application, attending a bank interview on your behalf, and preparing a detailed business plan. Please note that this fee does not include the initial bank deposit. |
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| Contact Us | ||
For more information on our UAE corporate banking services, email  or telephone us at (+65) 6735 0120. |
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