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Offshore Company Bank Account Openingai
Banking globally has become more complex in the last few years. Offshore company bank account opening may be a tedious task but with the help of experts, it becomes an easy process. If you are a new entrepreneur and interested to open an offshore company bank account, then you can contact to our professionals, they will help you to open a bank account for your offshore company in Dubai.
The Dubai banks and the other 6 Emirates are now more open to talking regarding a ban list of the countries for which they rarely open accounts for residents, neither private nor corporate. So, for instance, if you are from Ukraine, Iran, or Syria, be ready for the fact that you would face problems even in the initial stage of document submission.
In order to successfully pass bank checks for residents of high-risk countries, it is mandatory to prepare all the documents carefully. Before start filing the documents, we recommend that you can contact the experts who work in the Dubai market, contact daily with the bankers, and understand the value of expectations, and the necessary requirements of the bank. This kind of expert will help you with offshore company bank account opening.
Basic Document Required for Offshore Company Bank Account Opening
The necessary documents required for offshore company bank account opening is too large. Below is the list of key documents:
- The parent company’s bank account and/or the founder’s personal account for the last six months.
- Accounts are used as evidence for transactions in statements (3-5 accounts will suffice).
- Recommendation letter from the founder’s country bank.
- Documentary evidence of running the same business in the UAE or any other country for at least three years with audited financial statements.
- Future company business plans with forecasts for turnover, customers, and suppliers.
- Legal documents and owner’s ID cards in the United Arab Emirates.
- Passport with the UAE entry stamp.
Advantages of Offshore Company Bank Account Opening
- High-security standards
- No credit scores
- Strict banking confidentiality
- Direct bank transfers or through correspondent banks by IBAN and BIC
- Capital management and portfolio management
- Direct accessibility to online bank and phone banking
- Offer credit cards and debit cards
Eligibility Criteria for Offshore Company Bank Account Opening
- The presence of the company’s shareholders in the process of application is demanding the building of an offshore bank account. In case, this is not possible, there are two paths, either one representative of one bank would meet a customer in their country of origin or the customer would visit the foreign branch of the bank in another country to confirm the personal identity.
- Some banks can also need extra documents like a shareholder’s CV, business partner’s reference letter, existing contracts, business scheme, disclosure of fund’s source, memorandum, articles, and certificate of good evidence. In case the account is opened in the name of a shareholder’s company, the document of the shareholding company is required to be notarized by the court and the MOFA.
- For an offshore account, this must be assured that the banks have a “Know Your Customer” policy which is to identify the person who created an account and identify the beneficial owner if essential. The central banks have directed banks to carry out their customer’s due diligence process for offshore company bank account opening. This is why the banks would collect details about the primary business sector of the customer, the total number of deposits, main suppliers, revenues, clients, etc. The banks follow strict and international laws and regulations to identify funds of criminal origin.
- If you have an application form that is filled correctly and all required documents, have been provided, then it is guaranteed to open an offshore account in Dubai.
How We Can Help You
We are one of the best financial service providers in the UAE. Our first priority is to build the trust of our clients. We can offer our clients to open a bank accounts in various locations. We make your offshore company bank account opening process easy and trouble-free. We understand your all needs and desires.
Frequently Asked Questions (FAQs)
Can an offshore company open a bank account in Dubai?
This is possible to open an offshore bank account in the UAE as a corporation. In the first term, an account is opened to secure the activities of the company. The second is to handle personal assets.
How much money do you need to open an offshore bank account?
Opening an offshore bank account is very affordable. In fact, you can generally do so with as little as the amount. In order to open an offshore bank account, a minimum balance of $10,000 is needed to be sustained.
Can I open a bank account in another country without living there?
Luckily, opening a bank account in an overseas nation is totally possible – and totally legal, as long as you aren’t so for tax evasion purposes.
Can offshore accounts be traced?
Yes and no, based on how you manage them. In case you only utilize it, under a number, to deposit cash and never do transactions, you cannot be traced, except if somebody follows you in person.