What is that bank? and What are the requirements usually to open? is it private banking?I'm also very interested. If you have very very good connection to bank maybe it will work. I hope @MrSoolmaan gives his feedback here about the success of his bank account opening
Emirates NBD. You need at least a residence in UAE to open a private account or a company in UAE to open business account + 25.000EUR minimum deposit. No private banking.What is that bank? and What are the requirements usually to open? is it private banking?
how long does the bank account opening takes? are they strict for the Freezone company?Emirates NBD. You need at least a residence in UAE to open a private account or a company in UAE to open business account + 25.000EUR minimum deposit. No private banking.
Depends on your nationality, citizenship, resident or non-resident, business model and type of license you choose for your freezone.how long does the bank account opening takes? are they strict for the Freezone company?
thank you so much for your detailed information.Depends on your nationality, citizenship, resident or non-resident, business model and type of license you choose for your freezone.
A guy with residence in UAE, citizenship French and physical products trading with Freezone in Dubai of course will have better chances to open an account then a guy without residence in UAE, citizenship Pakistan, "consulting" business and Freezone in Ras Al Khaimah.
Normal account opening time is 4-6 weeks. But it depends from case to case and if they don't like your setup in combination with your personal background they will put you in a never ending loop of asking documents.
So make sure that you choose a agent that can you provide the whole setup from A to Z so that you have much higher chances to get a good bank account opened. But guarantee for banking nobody can give you nowadays.
expensive than you even imagine + you cannot open company remotely, not even bank account also they require to renew visa every two years with the cost of 5000/-AED (1400USD) and many more procedures to setup any kind of company. very very hectic.how about dmcc.ae ? assuming if I plan onshore and not offshore?
This is an interesting topic, but i doubt this would work for a US resident/citizen. Not sure about UK either.
I'd consider this solution, is there anyone selling shelf companies? Is banking easy to setup?
I have a very close friend setting up a business in UAE for new owners but I don't recommend setting up a business in UAE, its an expensive option.What is the reliable provider of UAE companies around?
Hey Nicholas, first of all congrats for your profund postings! Can you give me the registered agent's company name with the mentioned AED2500 service price? Thx in advance!I concur with what @ledger posts. Setting up a FZE Company (which is the 1 shareholder type of incorporation, ie, the cheapsest one around) costs between $8 to $12K depending on the Free Zone (I suggest you look into Ajman and/or Umm Al-Qwain as these 2 are the cheapest and more flexible ones) and the type of license you choose. This will include 1 residence Visa for the owner/shareholder (who will be able, at a later stage, to sponsor residence visas for his dependents/couple). Also bear in mind that agents there (you may want to look at the list of registered agents for RAK ICC Registered Agents as a good starting point for reputable ones), will charge you between AED 2,500 (approx $700) and upwards of AED10,000 (approx $3,250) for the service.
* Company Renewal costs start around $6K (haven't seen anything less) per year. Visa renewal is after 2/3 years (the latter for company owners), and is betweem $1,300 and $2K all-in. I would avoid at all costs the previously good RAK (or other) Offshore type of company if you plan to do business banking in the UAE, as it's not going to happen. However, you might bank in Mauritius or Seychelles with that type of company (ABC Bank or Afrasia might accept you, but increasingly difficult).
I would like to know that too if you don't mindHey Nicholas, first of all congrats for your profund postings! Can you give me the registered agent's company name with the mentioned AED2500 service price? Thx in advance!
Hi, that specific quote was from Universal Consultats DMCC (www.uaefreezones.me) and an email to contact them directly advisor@uaefreezones.me . Bear in mind that this comes on top of the other costs (AED15-25K depending on the freezone, number of visas required, etc). They are well regulated in a variety of freezones, for example you can find them in the RAK ICC authorized agents' list Registered Agents .Hey Nicholas, first of all congrats for your profund postings! Can you give me the registered agent's company name with the mentioned AED2500 service price? Thx in advance!
Thank you, very helpfulHope this helps, best of luck with your endeavours out there.
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