For any Business or an investor wanting to open a business and integrated requirement by default would be opening of a Bank account. It is indeed an important aspect. We provide a seamless experience in obtaining a bank account for your business through our assistance. Our network with various banks allows us to all the types of companies open a bank account in the UAE. Banks in UAE and all over the world have several requirements in terms documents minimum or average balances etc. Based on the requirement of the client we advise and lend our assistance in getting you connected with the right bank which will suit the requirement of the client.
In case the requirement is to open an Islamic account we suggest Emirates Islamic, RAK Islamic account. If the requirement is for conducting investment or foreign trade then we suggest Al Masraf. If you are looking for a conventional type of account then there are various options like ENBD, Mashreq Bank, First Abu Dhabi Bank, National Bank of Fujairah, Union National bank, and ADCB etc. The timeframe to open account is based on various factors such as nature of business, domicile of operation (Free Zone/ Offshore or Mainland) and nationality of signatory. For instance in the mainland, General Trading activity requires compliance approval before you can open an account. This is why it takes more time to open the bank account.
A combination of these different factors can affect the time frame. For a normal trading company in the mainland with all necessary documents in place, it normally takes 10 working days to open an account.
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