06 08 2020

Bank account opening in the UAE for profitability increase

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Today, doing business in another country is not something special and fantastic, on the contrary, it is a very common practice. Many active entrepreneurs from all over the world are taking advantage of the UAE when opening a bank account or registering a company. After all, this is the right decision if your task is to increase profits and reduce company expenses.

There are several main reasons for the increase in the company's profitability if it moves to the United Arab Emirates. The first is exemption from tax shackles. The UAE authorities decided to abandon taxes, thereby improving the lives of many businessmen from around the world. The second is an environment in which a business can grow and flourish significantly. The third is the ability to quickly and easily open a bank account. Dubai is the most developed city in the Middle East, more and more foreigners are striving to get here to open a business or simply for a comfortable and better life.

Why is it profitable to open a bank account in Dubai?

Of course, there are banking institutions in the world that differ from Dubai ones in higher reliability, favorable interest rates and a simplified account opening system.

Despite the facts stated above, a huge number of businessmen open accounts in Dubai. These are entrepreneurs who not only have business in the UAE, but also people without commercial interest in this country.

Now we will list why many businessmen still choose UAE banks:

- There are no unreliable banks on the territory of the Emirates. The authorities very tightly regulate the activities of all financial institutions and opportunities for one-day firms are reduced to zero.

- Very low likelihood of a shortage of liquidity due to significant bank reserves in the vaults of the Arab Emirates.

- An accessible and understandable system for managing your bank account. The following tools are available: online banking, plastic cards, a large number of branches and ATMs, as well as checkbooks.

- The highest confidentiality of customer data. There is no way third parties will be able to access this data without a court order.

- Savings on costs related to account maintenance. The prices for this service in the UAE will pleasantly surprise you.

And of course, it is necessary to mention the main condition for the successful opening of an account - a personal visit to the bank to sign documents and a conversation with the bank manager.

Want to open a Dubai bank account but don't know how? Please contact our specialists to get advice.