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We collaborate with all local commercial banks in the UAE
Opening an account in the UAE: business support and financing acquisition
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We liaise with branches of Western banks in the UAE
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We save our clients time on document preparation
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We provide a guarantee for the delivery of our services
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What business support do we offer:
Opening corporate accounts in UAE banks and foreign bank branchesBy turning to our company, you can promptly open a corporate bank account and receive expert advice on further collaboration with the bank.
Assistance in obtaining financingUtilizing our experience and established partnerships with banks and investors, we assist in obtaining loan funds for business development. We have access to preferential terms, bonuses, and low-interest rates.
Assistance in arranging letters of credit for financing import contractsWe attract financing for international operations and reduce potential risks for participants in foreign economic activities. We work directly with banks under contractual agreements.
KYC procedure at the bank for legal entities and IndividualsWe will assist in justifying the sources of business financing. We will prepare a strategy for interacting with the bank, reducing the risk of refusal to open an account and its sudden blocking.
"Why is it important to bank with a local commercial bank?"
Integration into the global
banking system
banking system
Presence of branches of international financial institutions.
Conducting transactions
in global currencies
in global currencies
Without conversion. The possibility of opening an account and conducting transactions in dollars, euros, pounds, and yuan.
Economic stability and
prestige of the UAE
prestige of the UAE
Low inflation rates, the stability of the banking system.
No exchange
of tax information
of tax information
UAE banks do not transmit transaction information as part of automatic exchange under CRS.
- Integration into the global banking systemPresence of branches of international financial institutions.
- Conducting transactions in global currenciesWithout conversion. The possibility of opening an account and conducting transactions in dollars, euros, pounds, and yuan.
- Economic stability and prestige of the UAELow inflation rates, the stability of the banking system.
- No exchange of tax informationUAE banks do not transmit transaction information as part of automatic exchange under CRS.
Banks we collaborate with:
How the interaction process with the bank works
A bank representative will conduct a consultation during which a strategy for interaction with financial institutions will be formulated. We will compile a list of suitable banks and service conditions.
Together with our team of accountants, we will prepare all the necessary documents for opening an account and undergoing the KYC procedure. We handle the application process with the bank manager, addressing any challenging questions. We coordinate support programs tailored to your business needs.
We don't leave our clients hanging. Where possible within the realm of accounting and our expertise, we can safeguard your company from unnecessary attention from regulatory bodies, claims from counterparts, or issues with bank personnel. This will help prevent the freezing of your company's bank account, tax penalties, disputes with counterparts, and labor-related conflicts.
Preliminary consultation, selection of suitable banks depending on your request
Preparation of document packages and submission of applications to banks
Application approval, subsequent interaction with banks after account opening, and funding acquisition
FAQ
Primarily, due to the pressure exerted by the USA on the UAE banking system. This leads to a tightening of Know Your Customer (KYC) procedures for Russian citizens. Banks impose additional requirements such as high deposit amounts, justification of the source of funds, and thorough scrutiny of the company's future business partners. In addition, banks refuse to open accounts for companies with low turnovers. In the UAE, it's not the bank that should appeal to the client; rather, the client must interest financial institutions with their financial solvency.
Familiar types of financing to the European consumer are available: for business development, consumer loans, car loans, and mortgages.
Interest rates on loans in the UAE vary depending on various factors such as the type of loan, the lender, the borrower's credit rating, and the loan amount. Generally, rates range as follows:
- Consumer loans: from 3 to 15% per annum;
- Housing loans: from 2.5 to 6% per annum;
- Car loans: from 2 to 5% per annum;
- Business development loans: from 5 to 20% per annum.
A letter of credit is a financial instrument serving as a payment guarantee between two parties involved in international trade. The principle of a letter of credit is that a bank in the UAE acts as an intermediary to ensure that the buyer makes the payment to the seller as specified in the letter of credit terms. The bank is responsible for verifying the conditions of the letter of credit before making the payment to the seller. Costs for a letter of credit typically average not more than 3% per annum.
The Know Your Customer (KYC) procedure in a local bank involves verifying the client's identity and assessing potential risks associated with conducting business. This is usually done by collecting personal information and documents such as a government-issued ID, proof of address, and financial reports.
FATF has included the UAE in the "gray list" for enhanced scrutiny in combating money laundering. Therefore, local banks are trying to rehabilitate and tighten control over compliance with laws against the legalization of illegally obtained income and the financing of terrorism.
FATF has included the UAE in the "gray list" for enhanced scrutiny in combating money laundering. Therefore, local banks are trying to rehabilitate and tighten control over compliance with laws against the legalization of illegally obtained income and the financing of terrorism.