The UAE’s present economic stability is most satisfactory for financial institutions like banks etc. Most businessmen are interested in mainland company bank account opening. Taskmaster professionals will help you to open a corporate bank account for your mainland company in Dubai and guide you properly through the entire process. We present you with the best banks such as national and international banks that require minimal documents to open a bank account in Dubai.
Across all businesses, trouble-free financial transactions play a crucial role in business development. The bank account provides very clients friendly and trouble-free services to the companies in Dubai when the applicant completes the appropriate needs by the banks. The bank account of the company can be an easy task when you know the correct documentation and requirements of KYC (Know Your Customer) of the bank in Dubai.
The bankers of Dubai bank ask questions and concerned documents during the process for mainland company bank account opening. So that’s why this is most crucial for the applicant to reply to this information. Taskmaster consultants will help you with the requirement of KYC (Know Your Customer), before starting the process of opening a bank account for your mainland company in Dubai and makes it an easy process of documentation for applicants.
Basic Document Required for Mainland Company Bank Account Opening
- Copy of Trade License
- Copy of Article of Association / Memorandum of Association
- Incorporation Certificate Copy
- Copy of valid passport
- Copy of Share Certificate
- Copy of Emirates ID of shareholders
- Copy of last six months’ bank statement of the shareholders
- Copy of corporate legal documents and bank statement
- Copy of Utility bill of the Shareholders
Types of Bank Accounts you can open For Mainland Company
The banks in Dubai provide two types of bank accounts that are mentioned below:
- Current Account: This bank account provides easy and fast accessibility to money. The client can withdraw an amount at a notice of moment and would have features like cash points and debit cards. The rate of interest on the current account is greatly reduced due to the bank’s requirement to keep enough liquidity to complete the demands of clients to withdraw.
- Savings Account: Savings accounts usually have a limit of funds withdrawn at one go. Often the banks need a fixed notice to pay the requested funds. This enables the banks to pay a high rate of interest as the bank requires less liquidity.
Advantages of Mainland Company Bank Account Opening
The bank account in Dubai has immense advantages for the corporate place. One of the major requirements of the formation of a mainland company is you must have a bank account in Dubai. Having a bank account opens up a huge door of opportunities and offers and eases your business needs locally and internationally. Banks have taken all the responsibilities like transfer of salary in the account of your staff for the corporate sector.
Here are a few advantages that you can get while you open a bank account for your mainland company in Dubai:
- You will receive a safe and reliable banking service
- Your account would be confidential
- Your account would be demand low maintenance cost
- You would be able to take benefit of online banking services
- You would be able to withdraw and deposit amount easily
To mainland company bank account opening, you would require to follow a process to verify your identity. You would also have to submit some papers to the bank authorities. We at Taskmaster help you in all this process and make sure that you receive the best services from the bank in Dubai.
Eligibility Criteria for Mainland Company Bank Account Opening
- You should have a valid passport with the UAE entry page.
- Applicant’s personal profile – CV
- Latest Utility bill
- Required an Original reference letter of an applicant from the company or personal bank account either in the country or anywhere in the globe.
- Latest six months bank statement
- Information on the incoming funds’ source
- Most of the banks in the UAE demand a minimum monthly average balance for opening a bank account in Dubai. The needs differ from bank to bank.
How we can help you
Taskmaster provides a wide range of services in Dubai. Our skilled professionals are incorporated with the reputed banks in Dubai to complete your demands.
Dubai enjoys an amazing banking system, known worldwide for exceptional client service. We at Taskmaster will help you in mainland company bank account opening, and also helpful to save your valuable time.
The owners of the business are usually unaware of international and domestic bank organizations. We help you in open accounts in those banks. We have done this many times. We also help in maintaining the bank accounts.
Frequently Asked Questions on Mainland Company Bank Account Opening
Which bank is best for opening a company account?
There are several banks that are the finest in the service. These are – Emirates NBD, ADCB, CBD, FAB, ADIB, and more.
Which bank is best for a company account in UAE?
Emirates NBD, ADCB, and Mashreq Bank are deemed the finest banks in the UAE for opening a company bank account.
Which bank is easy to open a business account in UAE?
RAKBANK business account provides you easy reach to your money all the time. A low minimum balance and a choice of local and international currencies make it a lucrative choice for business customers.
How quickly can I open a business bank account?
This usually takes around 2 to 4 weeks to open a bank account for an LLC or free zone company in the UAE. Although, it isn’t guaranteed as each application is subject to a bank’s internal adherence and management approvals.
