Challenges in Opening a Bank Account in Dubai, UAE

An Overview

Opening a bank account in the United Arab Emirates is one of the major challenges that company owner encounters while setting up a business. In order to create a corporate bank account in the United Arab Emirates, you need to follow certain requirements. Are you struggling with opening a corporate bank account in the United Arab Emirates or UAE? Well, you should hire a professional project management company! MPMS is one of the most trusted and reliable project management company that offers intelligent business solutions for every business. MPMS provides professional bank account opening assistance in Dubai, UAE. Wondering why connect with a project management company for opening a bank account in Dubai, UAE?

Strict Regulatory Requirements & Pressure to Comply

In order to combat financial crimes like terrorist financing and money laundering, banks the in the United Arab Emirates has listed out some rules that every business needs to follow.

Client’s Business History

Before applying for a corporate bank account, you need to demonstrate the credibility of your business. Previous business history can impact your relations with the bank.

UAE Resident Visa

Opening a bank account in the United Arab Emirates or UAE requires a resident visa! Apart from this, you may need to have a local address proof. A majority of businesses asks you to share valid residency permit to open a corporate bank account.