Bank Account Services
UAE Bank Account Opening Service Remotely Online : One of the first few things to do on your arrival in UAE is to open a bank account! It’s not very difficult to open a bank account in UAE but needs some time to complete all compulsory steps of the application. Moreover, this process involves a lot of documentation, and it is necessary to open an account that suits your business needs, enabling you to profit. The banking experts at Black Swan with more than 5 years’ experience in the industry are solicitous in increasing the share of profit as much as possible in your business turnover. We keep update in all the recent norms and regulations.
To begin with, it is mandatory for the applicant to be present in Dubai or the Emirate where the bank account is to be opened. Otherwise, the process will be considered illegal, and the bank will not allow opening the account. Moreover, the presence of the applicant is required, as he/she needs to sign all the documents in front of the respective bank official. Additionally, personal identity confirmation is a statutory requirement that permits the applicant to open a corporate bank account in the UAE.
Basic documents required for opening of Bank account
- Trade Licence.
- Partnership Agreement.
- Passport copy of all the partners.
- Memorandum and Article of Association.
- Power of Attorney if account is opened and also operated by the Power of Attorney holder.
Further, there are many other documents also required based on your Visa. And the area where you are forming the company (Mainland, Free-zone or Offshore).
At Black Swan Business Setup, we facilitate the legal translation and notarization of all your documents by the court or the respective Government officials. Consequently, this ensures a smooth and hassle-free process, expediting the opening of your account at the earliest possible. Subsequently, you can securely and legally start saving up your profits.
Bank Guarantee for Business Setup in UAE
Each business has its own risks. Hence business partners often use a bank guarantee to ensure the safety of the negotiated transactions. At times, business activities in the UAE require bank guarantees to facilitate investment or maintain working capital. Additionally, in accordance with a bank guarantee, a bank assumes an obligation to pay a specified amount of money to the client. And also if the company/individual fails to fulfil the terms of the contract. Moreover, irrespective of the company’s capacity, the company or individual receives the guarantee, and the involved parties charge a nominal fee. Furthermore, Black Swan Business Setup aids companies in obtaining a short-term bank guarantee facility that can be valid for 3 days to 10 days.
The process of a Bank Guarantee involves two main parties: the Principal Debtor and the Beneficiary for the bank. Moreover, Black Swan Business Setup supports you by assuming the role of an enacting principal debtor, consequently making you the beneficiary. Through this action, Black Swan significantly enhances the creditworthiness of your company, securing a bank guarantee.
A business in UAE may require various types of bank guarantees. For more details on how Black Swan Business Setup in Dubai can aid you with the best banking facilities in UAE, call our experts!
