Question UAE bank question advise

[aboveandbeyond]

Hi All, I'm going through the pain staking process of applying to UAE business accounts for a "management and project development consultancy". I need to reply to the following question for one of the banks

"DEAR CUSTOMER ,1)Please confirm will your COMPANY will receive commission only or third party investment is also expected..."

I can't make up my mind on which is the better/ more appropriate answer. I understand that investments are seen as a plus by the banks, but then again I imagine 3rd party investments can be considered a bit of a compliance red flag/headache.

Any advise would be appreciated.

 

[VESTANON]

@aboveandbeyond

reachout to @Fred , @CaptK ,@Sols @Martin Everson for guidance and steps...
you could write directly on each members wall...

would sure receive an outright feedback from the above!!

 

[JohnnyDoe]

Hi All, I'm going through the pain staking process of applying to UAE business accounts for a "management and project development consultancy". I need to reply to the following question for one of the banks

"DEAR CUSTOMER ,1)Please confirm will your COMPANY will receive commission only or third party investment is also expected..."

I can't make up my mind on which is the better/ more appropriate answer. I understand that investments are seen as a plus by the banks, but then again I imagine 3rd party investments can be considered a bit of a compliance red flag/headache.

Any advise would be appreciated.

Third party investments require more DD from banks, so it’s better if you can to stick with commissions only.
Good luck with UAE banks, you need a ton of patience to deal with them.

 

[CaptK]

Hi All, I'm going through the pain staking process of applying to UAE business accounts for a "management and project development consultancy". I need to reply to the following question for one of the banks

"DEAR CUSTOMER ,1)Please confirm will your COMPANY will receive commission only or third party investment is also expected..."

I can't make up my mind on which is the better/ more appropriate answer. I understand that investments are seen as a plus by the banks, but then again I imagine 3rd party investments can be considered a bit of a compliance red flag/headache.

Any advise would be appreciated.

"Investment" requires a licence at about AED 200K/ USD 50K, so stick with commission.

 

[Martin Everson]

"DEAR CUSTOMER ,1)Please confirm will your COMPANY will receive commission only or third party investment is also expected..."

My feeling is if you tell the bank one thing and then later do another thing it may not go well. Only you will know what kind of money you are receiving to answer that question appropriately.

Maybe @Fred can answer it best for Dubai banks.