- September 19, 2020
- Posted by: DBS Editorial Team
- Category: Business Setup Services in Dubai
Table of Contents
How to start a company and get a foreign bank account in Dubai?
The city of Dubai is one of the top commercial destination. Entrepreneurs from all types of trades prefer setting up a business and opening foreign bank account in Dubai. It is a great place to direct your funds and enjoy various tax benefits through investment opportunities, business setups or branch offices. However, starting any type of commercial activity or company requires you to create a bank account. This is exactly why, many businesses across the world choose Dubai to start their international business and transact in foreign currency.
So, if you are among those investors or entrepreneurs wanting to setup a business and transact using an international bank account, then this article is for you! However, before we analyse the setup procedures and know how to open a bank account, lets understand why is it so beneficial to have a foreign bank account in Dubai.
Why foreign companies in Dubai find it beneficial to have a foreign bank account in Dubai?
Foreign companies in Dubai and other parts of UAE find it beneficial to register their business in the region due to its tax advantageous offered to international bank accounts. Foreign companies in UAE profit through structural perks offered on offshore company formation. Moreover, offshore savings accounts or offshore bank accounts can be used for tax saving as well. Even mainland companies and free zone businesses benefit from lower taxation.
Dubai is a popular hub enticing investors with incentives provided by some of the best business bank accounts in the UAE. In this commercial haven, it is also easy to open bank account in UAE without residence visa.
Moreover, because UAE is a member of GCC (Gulf Cooperation Council) and GAFTA (Greater Arab Free Trade Area) there is no duty fee levied on the business conducted in Dubai. The same rule is implied on offshore company setups, which makes opening a business account even more fruitful for business entities in the region.
So, how do you start a company and get a foreign bank account in Dubai?
Starting a company and opening a business account in a leading bank of Dubai is quite simple if you deal with the right business setup service providers. Most of the banks in Dubai as well as across the UAE offer specialised services and can help investors channelise their business. However, finding the right bank to deal according to your suitability is crucial. Ask a business setup service provider to assist you with opening a business account. They have the right connections and contacts to find you the perfect bank in no time!
A business setup service provider can guide you through the entire process of the tax-friendly benefits this country has to offer. Whether you need to open offshore bank account or an onshore commercial account, it is best done with the help of the experts! They also help you understand and avoid unnecessary costs, bank charges, etc.
- Why start a company in Fujairah free zones?
Book a free consultation with a business setup service provider:
So, if you wish to setup a business and want to open a bank account in Dubai book a free consultation with our experts at DBS Business Setup. We at DBS provide banking assistance to all types of entrepreneurs. For more information, feel free to call us on +97145667485 or WhatsApp us on +971551129344.
You may also follow this link https://www.dubaibusinessservices.com/contact-us/ to chat with our LIVE business setup agents right away!