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Mainland UAE company bank account?

Yakooza

Yakooza

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Jan 17, 2019
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#1
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Hi,

What is the best bank/strategy for obtaining personal and business bank accounts in the UAE? We recently registered a Mainland Company and received our UAE ID cards/residency, etc.

We opened a Mashreq personal bank account online via their mobile app but are unsure if it’s the best option or if it’s suitable for a business account.

Our company is a SaaS company.

Also is it easy to open bank accounts in UAE?

Thanks
 
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#9
Personally, I don't like having Personal and Business accounts with the same bank. If they close either the Business or Personal account, you run the risk of them doing the same with the other account.

I would open a Neobiz account and at least then you have a second option if anything untoward was to happen with the Wio Business account.
 
#12
It depends wher you are from - i.e. what colour passport you have (apologies if I missed that above).
I organsised a bank A/C for an EU national in an hour with FAB with whom I personally have been with since 1995, when they were called NBAD.
We also utilized the Business partners help in the FZ area, and they also opened in a morning a WiO A/C for the company of that same EU guy.

Moreover, I work from a FZ office complex and there is Russian lady in an office here opening bank accounts for people (and I believe not only her compatriots)
Called NOBILIS 'something or other' in JLT DMCC
 
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#13
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Code: 
ENTER INTO THE GOOGLE SEARCH FIELD
site:offshorecorptalk.com SEARCH WORD
 
#16
SoNewToAllShit said:
Does someone know if banking is stable in the UAE or have people same problems as with other banks with account freezing and lot's of questioning transactions ?
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They are pretty much stable, but I am not sure about the protection in terms of their bankruptcy like in the US.

But if you don't do any sus s**t like crypto, cashing/depositing large chunks of cash, and have a legal source of income, you're fine.
 
#17
yngmind said:
They are pretty much stable, but I am not sure about the protection in terms of their bankruptcy like in the US.

But if you don't do any sus s**t like crypto, cashing/depositing large chunks of cash, and have a legal source of income, you're fine.
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Even if they freeze the account. They never freeze your money. Just go to the next bank.

I deposit only cash. Biz and priv. Never ran into any problem.
 
#19
picsous said:
Even if they freeze the account. They never freeze your money. Just go to the next bank.

I deposit only cash. Biz and priv. Never ran into any problem.
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How can they freeze your account without your money? You mean if your account is frozen you can still go to the bank and withdraw all your money?
 
#20
Asset Management said:
Banking in uae is becoming extremely complicate , their compliance I run by low cost employee in india
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You mean they hired Indy's to make the compliance and DD on account holders in the UAE ?
 
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