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Why-your-business-needs-a-free-zone-company-bank-account

Wondering how to open a free zone company bank account? Read to find out how and run your business seamlessly.

Why your business needs a free zone company bank account

Acquiring your trade license is important for your business. However, opening your free zone company bank account is just as important for your business. Bank account opening will help you handle your company’s finances effectively.

The UAE is world-renowned for having the most attractive tax rates across the globe. It is one of a handful of countries that have zero taxation. This as a result has driven individuals from around the world to open a bank account here.

It is also well known that the majority of foreigners who want to maintain an account in the UAE are from the West. This is because they pay a large sum of taxes such as corporate tax and income tax. However, this isn’t the case in the UAE where you have the ability to completely own whatever you earn. Therefore, regardless of whether they are foreigners or UAE residents, they would save more by having an account here.

Opening a free zone bank account is an integral step for your business and here’s why.

What is a business bank account used for?

The UAE free zone company bank account is created specifically for businesses. The aim is to aid the investor to keep track of their business transactions. It also helps the owner separate business transactions from personal ones.

A free zone bank account would enable the investor to track their company’s expenses, calculate tax liabilities effortlessly, and regulate cash flow more effectively. It is important to find a bank that offers the solutions most suitable for your company. This is so that you would not need any additional assistance and your bank can be a one-stop solution for all your business’ financial needs.

Reasons why your company needs a business bank account.

There are numerous reasons why your company needs a bank account, some of which are as follows:

The various benefits of having a free zone company bank account

What are the requirements to open a free zone bank account?

Free zone company bank account opening requirements are as follows:

The documents required to open a free zone bank account

The various documents required to open your free zone company bank account are as follows:

You will be required to have your company license signed by the relevant authorities. You will also be required to submit proof of residency in the UAE. All the shareholders must be physically present when submitting the signed documents.

After submission of the signed documents, you will need to wait for compliance approval. With all these documents signed and approved, your free zone bank account will be opened at your preferred bank.

Open your business bank account with Shuraa

If you want to move on to the next step after acquiring your trade license, opening a free zone company bank account is absolutely the right decision. Shuraa will help you get started with the process of opening your free zone bank account with ease.

Shuraa is one of the top business setup companies in the UAE. We have over 20 years of experience helping entrepreneurs form and run their businesses smoothly in the country. In addition, we are also expanding in terms of providing more corporate services to best suit your business needs.

Our corporate advisors will guide you through the entire process of briefing you on how to open a company bank account in Dubai free zone, all the way to gaining approvals. We will guide you through every step of the way.

Contact our expert consultants to learn more about opening a free zone company bank account in the UAE. Call us at +97144081900 or send a WhatsApp message on +971507775554. Additionally, you can also drop in an email at info@shuraa.com and get your queries answered in no time.



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