Business Services Offered in Dubai, USA and Nigeria
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BUSINESS BANK ACCOUNT

DBR offers assistance with setting up your company’s bank account once the business license is ready. You may choose any local or international bank based in Dubai. We will help you prepare the documents and act on your behalf whenever required to ensure smooth sailing all throughout the process.

A company bank account in Dubai can only be opened after the business license is issued. Depending on the type of company, the documents required slightly differ. It’s commonly believed that the business sponsor’s permission is required for an investor to open bank accounts in Dubai, but it’s not necessarily true.

For a company with a commercial license, it’s important to read the Memorandum of Association regarding banking and financial transactions. The relevant section will have all the details concerning opening, maintaining and closing bank accounts under the company name. If it says the sponsor’s permission is required, it is then compulsory to involve the sponsor as per the memorandum. However, if it doesn’t specifically say the sponsor is required, then the investor may hold the bank account on his/her own.

For a company with a professional license, the partners may decide among themselves whether they will hold the account in joint position or appoint a single person to be in charge of it.

Likewise, a business bank account in Dubai can be opened according to the requirements and conditions stipulated in the legal documents belonging to the company.

 
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  Dubai Business and Residency Consultant [DBR Consultant]
email :info@why-dubai.com
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