Getting a Business Bank account for a Freezone company with a rented Office Space (Meydan)

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ahlat

New member
First of all, Thank you in advance to everyone for your participation.

So I am currently weighing out my options for choosing a freezone for my company formation. So far, I have read about people complaining that they've experienced difficulties setting up a Business Bank account with cheaper Freezones like Meydan and this is quite alarming.

I was looking into Meydan and DMCC for the company formation. Obviously a license with DMCC is almost 3x of that with Meydan, but I can consider it if it means that I won't have any issues setting a business bank account with any of the local UAE banks like Mashreq.

I am looking for your suggestions as to what my best option would be when it comes to selecting a freezone.

Two things to note:
  • I have looked into mainland and the Business activity (Immigration activities) I want is currently banned so I only have to go with Freezones
  • I will be renting out an office space, would this help in convincing a bank to allowing me to open an business account with them?
 

Au999

New member
I'm in the process of setting up at Silicon Oasis, working with @Fred and so far everything very smooth. Their package comes with an office enough to satisfy banks but I'm going to be renting an actual office too, not because of banks but to work.

Even if for some reason you do have trouble with banks, there are other solutions too - I've just opened a business account with Currenxie for my freezone company and it only took a week and a few back and forward emails with biz documents. They have multi currency accounts too. So far been very happy and it's my emergency standby should Dubai bank take a long time.

Personally I think dmcc is overrated and overpriced, plus they require audit.
 

leoncelli

New member
I'm in the process of setting up at Silicon Oasis, working with @Fred and so far everything very smooth. Their package comes with an office enough to satisfy banks but I'm going to be renting an actual office too, not because of banks but to work.

Even if for some reason you do have trouble with banks, there are other solutions too - I've just opened a business account with Currenxie for my freezone company and it only took a week and a few back and forward emails with biz documents. They have multi currency accounts too. So far been very happy and it's my emergency standby should Dubai bank take a long time.

Personally I think dmcc is overrated and overpriced, plus they require audit.
Hello,

Could you DM me? I don't have enough posts to send you a message.
 

RealDude

Entrepreneur
I'm in the process of setting up at Silicon Oasis, working with @Fred and so far everything very smooth. Their package comes with an office enough to satisfy banks
Can the scope of this package be viewed online?
@Fred

but I'm going to be renting an actual office too, not because of banks but to work.
Is this not needed to convince your home country?
 
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Au999

New member
The more substance you have the better. Office definitely helps. At some point someone in your home country is going to ask for proof so things like UAE Driving license, personalized nol card, bills, apartment rental, employee...
 

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