Our valued sponsor

How will this impact RACICC banking options in UAE?

It's the same like the "Premium Product" offered since almost 2 years were a RAKICC setups a RAKEZ company and you then get the Residence Visa through the RAKEZ company.

https://www.rakicc.com/services/premium-product/
Of course you have to pay the full amount for 2 companies the RAKICC and the RAKEZ.

As you were asking for the banking impact - it's literally 0 and just a desperate try to save RAKICC somehow.

Why?

The banks hate this structure even more then a plain RAKICC as the RAKICC is in the "Premium Product" a Holding Company holding the RAKEZ or for the aboth mentioned the RAK DED Mainland company and Holding Companies are the most difficult type of entity to open + the fact it's a RAKICC - as they fall fully into the scope of the ESR substance regulations.

Even RAKEZ is almost blacklisted from every bank since 2 years - forget about getting ENBD or something similar with a RAKEZ in 2021. And due to the RAKICC Holding that is mentione din the article aboth you even face issues getting the RAK DED Mainland company banked.

A way that has prooved to work is to setup a Dubai Company with Dubai Residence Visa and open for this structure Business & Personal Account with ENBD and using this accounts intensiv for 3-6 months + having 6 or 7 figueres with them - they consider opening for you RAKICC for Holding & Investment purpose by exception - even for RAKICC Foundation.

However from what we see in practice that's exactly not what most people looking for.
 
It's the same like the "Premium Product" offered since almost 2 years were a RAKICC setups a RAKEZ company and you then get the Residence Visa through the RAKEZ company.

https://www.rakicc.com/services/premium-product/
Of course you have to pay the full amount for 2 companies the RAKICC and the RAKEZ.

As you were asking for the banking impact - it's literally 0 and just a desperate try to save RAKICC somehow.

Why?

The banks hate this structure even more then a plain RAKICC as the RAKICC is in the "Premium Product" a Holding Company holding the RAKEZ or for the aboth mentioned the RAK DED Mainland company and Holding Companies are the most difficult type of entity to open + the fact it's a RAKICC - as they fall fully into the scope of the ESR substance regulations.

Even RAKEZ is almost blacklisted from every bank since 2 years - forget about getting ENBD or something similar with a RAKEZ in 2021. And due to the RAKICC Holding that is mentione din the article aboth you even face issues getting the RAK DED Mainland company banked.

A way that has prooved to work is to setup a Dubai Company with Dubai Residence Visa and open for this structure Business & Personal Account with ENBD and using this accounts intensiv for 3-6 months + having 6 or 7 figueres with them - they consider opening for you RAKICC for Holding & Investment purpose by exception - even for RAKICC Foundation.

However from what we see in practice that's exactly not what most people looking for.
Hey can we connect and discuss this more in depth, I would love to hear how you and your team can help me out with company setup in dubai.
 
Hey can we connect and discuss this more in depth, I would love to hear how you and your team can help me out with company setup in dubai.
Did sent you PM.
 
Register now
You must login or register to view hidden content on this page.