EMI for UAE/Dubai

[Gediminas]

guy i think here is bunch of amators , believe what you want , ebury is not a bank is currency exchanger, you need 500 k deposit and than invest is any decenct bank in dubay , 3 eur accounts is now days extremly difficult to get , 4 all dubai banks they are expanding their complaice procedures , 5 believe me forget free zone company , they are usesless , who tell you is posssibel is just try sell you a dream, and by they way if you need a corporate account you need fisrt a emirates id , and it take 5 weeks this facts , the rest is the usual business advisor try sell you something .
Any body has recently expereince in dubai?

Stop talking nonsense. We also operate on the FZE entity and use local UAE banks for this. Our clients do the same, none of them are complaining. How it is useless?

You are misleading the readers based on your previous experience which was probably not the best.

 

[rowena]

Hello Gentlemen,

I have a mainland registered company in Dubai and previously was working with Mashreq NeoBiz however our volume of business was too high for them so they shut down our account. The solution was perfect in cost and it solved our requirement for multiple currency account such as CAD,AUD,HKD etc. Does anybody else know of a bank in Dubai that can offer superior FX services and currency account outside the usual EUR/GBP/USD?

As a secondary solution we were using TW via a Delaware registration but that was shut down in September and since then it has been hard to find an EMI that can support our requirements for cheap FX and multiple currency accounts.

Please support us with some suggestions for an EMI that can either be registered on Delware Corp or DED Licinse that fits our requirements on FX Fee's and multiple currency accounts along with a suggestion of a bank that can replace the facilities we had at Mashreq as we visited Rak and ENBD who could only serve EUR/GBP/USD.

Thanks a bunch in advance!

How much is the volume of your business? Even if you reach the threshold, they should transfer your account to Mashreq business banking(as long as your business is not risky).

If you're looking for a good FX you should open an Interactive Brokers company account. No bank/financial institution can beat their FX pricing.

you need 500 k deposit and than invest is any decenct bank in dubay

Wrong.

eur accounts is now days extremly difficult to get

Wrong.

believe me forget free zone company , they are usesless

Wrong.

emirates id , and it take 5 weeks this facts

Wrong.

Any body has recently expereince in dubai?

I opened an FZ company in UAE(not even Dubai) and opened Dubai Bank account which supports AED, USD and EUR.

 

[Fred]

guy i think here is bunch of amators , believe what you want , ebury is not a bank is currency exchanger, you need 500 k deposit and than invest is any decenct bank in dubay , 3 eur accounts is now days extremly difficult to get , 4 all dubai banks they are expanding their complaice procedures , 5 believe me forget free zone company , they are usesless , who tell you is posssibel is just try sell you a dream, and by they way if you need a corporate account you need fisrt a emirates id , and it take 5 weeks this facts , the rest is the usual business advisor try sell you something .
Any body has recently expereince in dubai?

We have recent experience in Dubai.

I try to help the member to find a solution that fits his requirements.

All UAE banks are not the best when it comes to FX rates that's why Ebury is there.

They open you an account in for example Barclays UK or any other bank they work with. I have in mind you can choose between DE IBAN and UK IBAN.

You mix up many things and looks like you get burned some from bad advisors in the past. That's fine but please don't rage trough the Forum with non-sense posts and your personal bad experience.

 

[rey skywalker]

ahh i have account in all major bank, i speak daily with al mt banf kers for many issue, but i have still to mantain 6 zero figures if you want to be consider, dubai is not for smal business set up

 

[Michaelpitt]

How much is the volume of your business? Even if you reach the threshold, they should transfer your account to Mashreq business banking(as long as your business is not risky).

If you're looking for a good FX you should open an Interactive Brokers company account. No bank/financial institution can beat their FX pricing.



Wrong.


Wrong.


Wrong.


Wrong.


I opened an FZ company in UAE(not even Dubai) and opened Dubai Bank account which supports AED, USD and EUR.

What bank and which fz you are working with?

 

[troubled soul]

No.

DSOA doesn't require it. Like @rowena mentioned you should keep your books at least. Since 5 years nobody is asking for audit or accounting - not the authority - not the banks. The bank want every year the trade license updated and the emirates ID once expired. That's it.

When email to DSOA, They said it is required. below is the reply

 

[Fred]

When email to DSOA, They said it is required. below is the reply
View attachment 2619

They merged just recently with IFZA - they don't require it.

 

[JimBeam]

As far as I know, DSOA requires the Audit... at least they did in the previous years...

 

[troubled soul]

As far as I know, DSOA requires the Audit... at least they did in the previous years...

Ok
But I receive confirmation from the IFZA official that an Audit is not required here.