Comparison of Middle East banking options

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Middle East banking options in 2023

	Bank A	Bank B	Bank C	Bank D
Our recommendation by preference	1	2	3	4
Summary at a Glance
Does our Client need to travel?	Yes	Yes	Yes	Yes
Initial deposit for AED$ corporate bank account	50000	10000	10000	50000
Minimum monthly balance in AED?	50000	10000	10000	5 - 25,000
Time it will take to open corporate bank account	4 weeks	4 weeks	5 weeks	5 weeks
Multi-currency single number bank account?	Yes	Yes	Yes	Yes
Multi-currency visa debit cards issued	Yes	Yes	Yes	Yes
Dedicated bank officer with cell phone contact?	Yes	Yes	Yes	Yes
Daily funds transfer limit?	None	None	None	None
Fees for inward wire transfer	None	AED 10	AED 25	None
Fees for outward wire transfer	Min AED 85	Min AED 90	Min AED 50	Min AED 110
Monthly email statements?	Yes	Yes	Yes	Yes
Our rating of the bank’s customer service	Good	Satisfactory	Poor	Poor
Internet banking available?	Yes	Yes	Yes	Yes
Corporate cheque book available?	Yes	Yes	Yes	Yes
Corporate USD Debit card (visa)	Yes	Yes	Yes	Yes
Corporate GBP Debit card (visa)	No	Yes	No	No
International branch locations	Press here	Press here	Press here	Press here
Is legalization (apostille) required?	Yes	Yes	Yes	Yes
Which Embassy in your country of origin?	UAE	UAE	UAE	UAE
Bank account opening fee?	No	No	No	No
Monthly account maintenance fee in AED?	None	None	50	10
Fee schedule document?	Press here	Press here	Press here	Press here
SMS notifications available?	Yes	Yes	Yes	Yes
Security token devise available?	Yes	Yes	Yes	Yes
Internet Banking
How long to receive password and login name	2 weeks	2 weeks	2 weeks	2 weeks
Can make e-banking € £ US$ funds transfers?	Yes	Yes	Yes	Yes
Our rating of the internet banking facility	Very good	Excellent	Very good	Good
Bank Logistics
Your dedicated bank officer will be	Mr. Mohamed X	Mr. Rizwan Mx	Mr. Banxxx	Mr. Asad Bxxx
Direct telephone number	+971 (0) 5xxxx	+971 55xxxx	+971 503xxxxx	+971-50-24xxxx
How big is the bank in this country?	Top 3 bank	Top 20 bank	Top 5 bank	Top 10 bank
Bank credit rating?	Baa1	A-	Baa1	A+
Country credit rating?	Aa2	Aa2	Aa2	Aa2
Regulated by which authority?	UAECB	UAECB	UAECB	UAECB
Any currency controls in UAE?	Yes, regarding transfers to Libya or Argentina	Yes, regarding transfers to Libya or Argentina	Yes, regarding transfers to Libya or Argentina	Yes, regarding transfers to Libya or Argentina

Contact us

For additional information on our Middle East corporate bank account services, please contact our in-house country expert, Mr. Petar Chakarov, directly:

client relationship officer - Petar

Mr. Petar Chakarov
Sales & Business Development Manager
Contact me!

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Testimonial

“Pirster Pte is happy with the work that Healy Consultants undertook for the company. International incorporation can be fraught with opacity, anxiety and vulnerability - especially if it is being done remotely as we did. Healy Consultants worked really hard to make it transparent, straight forward and confidence-inspiring. I look forward to working with Healey Consultants again on future work and happily recommend them to others.”

Fiona Thompson, Managing Director
Pirster Pte.

“We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them.”

Mr. Aniket Chatterjee, Senior Manager - Operations & Compliance
Zomato Pvt. Ltd.

“Healy Consultants did an excellent job helping me navigate the legal and accounting rules and regulations to set up a company in Taiwan.”

Peter Rooks, President
Phoenics Electronics

“Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised.”

Shakeel Alibhai,
Fervor Montreal

“Thank you Healy Consultants, you were instrumental in setting up of my Hong Kong based company, the whole process was completed in a professional and timely manner.”

Terry Skews, CEO
Brittany Offshore Limited

“Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team.”

Pramod Dubey, Chief Financial Officer & Company Secretary
Accutest Research Laboratories (India) Private Limited

“Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations.”

Steve Hauxwell, Managing Director
Natural Resource Professionals Pte Limited.

“The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions.”

Raja Chakraborty, Director
Streamlyn Pte. Ltd.

“Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain.”

Steve Louw, UK General Counsel
JLL Group

“When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now.”

Timothy F Kauffman, CEO
Trivector Services

“Finding the right partner was critical for VESL’s expansion in Asia and working with Healy Consultants has made this possible.”

Gary Webb, Managing Director
VESL

“Healy Consultants accounting and tax support is invaluable.”

Chris Vorwerg, Managing Director
WinPCS

“Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years.”

Susan Gunnery, Managing Director
Qudoss Group

“Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details.”

Nikolay Evdokimov, Director
Appintop Echange Pte Ltd