IFZA partners with Commercial Bank of Dubai to provide banking solutions

[troubled soul]

NAVIGATING THROUGH YOUR CORPORATE BANK ACCOUNT — IFZA

The micro, small and medium enterprises (MSME) sector is an important driver of growth for the United Arab Emirates (UAE). Consider the following factsfrom the UAE Ministry of Economy:There were over 350,000 MSMEs in the UAE by mid-2020MSMEs represent 94% of all companies operating in the UAE...

ifza.com

 

[smartcard]

Looks like a good move.
Anyone have got experience in IFZA company setup?

 

[Rick Ross 305]

IFZA, I believe is the only private-owned (non-gov) freezone (FZ) in the UAE, some type of concession to some Danish guy I heard.
They seem faster, better, cheaper and more efficient than most other FZs, but bank business accounts usually still the same hassle of all other FZs but wasn't aware of this deal with CBD.
That could be a deal breaker, good FZ + good bank.

 

[Tr0nad0r]

will they ask for substance (e.g an office) like other banks are doing nowadays?

 

[smartcard]

will they ask for substance (e.g an office) like other banks are doing nowadays?

I believe yes since substance is a Govt requirement that every bank needs to follow