There has been an increased growth in entrepreneurs, businesses, companies and private individuals in bank account opening in Dubai and the UAE.
Over the last forty years, the UAE has become a beacon for businesses and entrepreneurs that wish to establish themselves in Dubai or have a second option for their savings.
Why so? Why is the UAE so popular amongst foreigners for bank account opening in Dubai and the UAE?
In a sentence, the UAE offers you limited regulations, easy access to the international labour market and a location on the major trade route between East and West.
Furthermore, the UAE offers unrivalled tax planning opportunities to international businesses, zero corporate and income taxes for most activities, an impressive network of double tax treaties, no withholding tax on dividends and interest paid and no levy on capital gains. It is an established International Financial Centre ranked amongst the top 20 countries in the world for competitiveness.
Significant incentives are being offered to investors, and corporate governance provisions ensuring transparency and accountability are being enforced.
So what makes UAE banks so popular? Why should I proceed with bank account opening in Dubai and the UAE?
Simplicity is the ultimate sophistication (Leonardo Da Vinci).
In comparison with many leading banks worldwide especially is the Western world, UAE banks do not have toxic assets, non-performing loans, have very strong capital adequacy ratios and are very liquid. So bank account opening in Dubai and the UAE makes sense.
In a nutshell, they are healthy.
Why so healthy? Because the UAE banks refrain from giving loans to anyone just for the sake of giving someone a loan. They are very conservative in their approach for approving loans whilst having little or no collateral. And they do not invest in hedge funds that invest in highly volatile stocks and bonds.
And they are regulated as well. Not the offshore banks style of regulation of martinis at the beach.
Dubai and the UAE is a real country with real businesses and economic growth. It has diversified very well from oil and hydrocarbons into industries like Tourism, Financial Services and IT infrastructure. This was validated when the oil prices began to drop two years ago. Other GCC countries were affected. The UAE, solely just a drop in the Real GDP growth from the estimated 4.3% to 3.2%.
Banking in the UAE
It would be possible for every business, entrepreneur and private individuals for bank account opening in Dubai and the UAE. Our office has introducer agreements with most leading UAE banks.
We can recommend which UAE bank suits you best given your personal preferences and areas of doing business.
Moreover, we can make all the necessary steps for bank account opening in Dubai and the UAE, and we can prepare the necessary documents for you.
You just have to send the documents that the bank compliance wants. That’s it.
At the same time, if necessary, we can give you an opportunity bank account opening in Dubai and the UAE without visiting the UAE. Our office can act as a signatory of a client business bank account and administer the account under client’s instructions. This is a tried and tested solution for many of our clients.
Even if you do not wish to have the Dubai bank account administered by us, you can have a 30-minute meeting at our premises together with the bank representative, and everything will be sorted. Rest assured.
Then why us then?
Founded in 2001, Freemont Group became internationally known as a well-established provider of trust and professional corporate services to international clients interested in asset protection and tax planning, as well as company succession and estate planning.
Our clients are mainly international consultants, traders, online marketing specialists, digital nomads, high net worth individuals, international entrepreneurs, artists, sportsmen, and many more clients from all over the world.
Freemont can provide registered office, company management, virtual office and much more. We establish and administer secure and reliable corporate structures for a wide array of private and corporate clients. Our extensive experience enables us to advise clients on any corporate issue such as share acquisitions, dispositions, capitalisations, entity selection and formation, operating and partnership agreements, securities and governance matters, international tax planning as well as cross-border transactions.
Thank you for your interest in Freemont Group, the specialists in company formation, asset protection and legal and advisory. Feel free to contact us with any inquiry you might have. We will provide you with a free initial consultation, and a customised solution for your personal situation.
Tel: +971 444 57 900
Fax: +971 444 57 901