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Business Bank Account

Commercial Banks in the UAE are divided into two major categories – Locally Incorporated Banks and Branches of Foreign Banks. There are 23 Locally Incorporated Banks and 28 Branches of Foreign Banks that operate in the UAE (as at 2016). All banks are regulated by the Central Bank of United Arab Emirates, which is tasked with ensuring the financial soundness of these institutions.

Bank Account

A guide to opening a business bank account in the UAE

Would you like to save both money and your privacy? Search for a more secure way to do so. It has become easier for businesses to open a bank account in the UAE over the past few years and is highly suggested for developing companies.

Documents required to open a corporate bank account in the UAE

Benefits of Having Business Accounts in the UAE

There are several benefits of having a business account in the UAE. Let’s have a look at what we’ve got.

Tracking of Expenses

  • Business Professionals can use software to track their records. It also helps them handle the costs more effectively.

Business Loan

  • If a business owner can apply loan for their business development process or getting a business credit card is highly helpful.

Cash Flow

  • Maintaining a business bank account is an excellent tool for observing transactions and cash flows for business owners.

Tax Calculation

  • Business accounts allow organizations to manage their tax liabilities easily.  It aids in the transparency of tax payments.

Card Payments

  • Customers can pay with credit cards using a bank account.

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