UAE Offshore Bank Account Opening
Which is the best country to open an offshore bank account?
UAE allows opening of both personal and business corporate bank account for offshore companies.
To open the account, a mandatory visit to the country is required and it is not possible to open the offshore bank account online.
If you have an international business company (IBC), the United Arab Emirates offers international offshore bank accounts for businesses registered abroad. Open a corporate offshore bank account in Dubai, Sharjah, Ajman, Fujairah, Ras Al Khaimah, Al Ain and Umm Al Quwain.
We offer an exclusive VIP option tailored for a limited group of clients, to open offshore bank accounts remotely. Our dedicated bankers will personally travel to your location, wherever you are in the world, to facilitate the seamless opening of offshore personal and business accounts.
Whether you are looking for an onshore or international bank account, we have you covered.
How to open an offshore bank account in United Arab Emirates without visiting the country
Offshore personal bank account for individuals and business corporate offshore accounts can be opened in Dubai, Abu Dhabi and other Emirates.
Clients interested in an UAE offshore bank account in the often have to visit in person to meet relationship manager assigned to you, or at a retail branch level.
BUH Consulting has established exclusive relations with relationship managers at certain banks who are able to fly to meet you, anywhere in the world.
The UAE is home to major international banks like Citibank, HSBC, Standard Chartered.
Offshore banking accounts are able to be opened with banks located in:
- Dubai
- Abu Dhabi
- Ajman
- Al Ain
- Sharjah
- Umm Al Quwain
- Ras Al Khaimah
Why Offshore Banking in UAE?
Major international business hub
As 1 of the 7 Emirates in the United Arab Emirates, Dubai is often the most popular destination for clients that are looking for offshore banking in UAE, this is mostly due to the Emirate’s popularity globally, as a top tourist destination.
Clients interested in offshore banking in Dubai often become aware of the opportunity after visiting Dubai on their holiday vacation.
Financial Privacy, security and freedom
Offshore banking in Dubai provides a secure environment that values financial privacy, luxury, priority and top-notch service, making it an attractive destination for business and preserving wealth.
Effective tax structure
Most companies in the UAE are taxed between 0 to 9%, many major international companies have relocated their regional office to the UAE as a result.
Important Points to Consider for Offshore Banking in Dubai
Excellence in regulatory framework and reporting
With a reputation for meeting international standards, offshore banks in Dubai all abide by regulatory guidelines that meets global framework, requirements that offers transparency and compliance with international standards.
Multicurrency Banking Services
Dubai’s banking structure is designed with international business in mind.
Enjoy multicurrency offshore bank accounts in Dubai with support for major currencies including AED, USD, EUR, and GBP.
Minor currencies are also available and varies bank to bank.
Wide Range of Investment Opportunities
Banks in the UAE offers large variety of investment options, from local bank bonds to investment funds, US treasure notes and others investment opportunities that could fetch double digit returns.
From local real estate investments, which international investors often require an offshore UAE bank account for, to international business opportunities that requires a corporate offshore bank account in UAE, there is something for everyone.
How to Open an Offshore Bank Account without going to Dubai
Which bank in Dubai opens offshore bank account?
While Dubai has one of the largest concentration of banks in the world, not every bank in Dubai offers offshore banking solutions.
Offshore personal or corporate business accounts can be opened with the below banks:
- Abu Dhabi Islamic Bank (ADIB)
- Banque Misr UAE
- Dubai Islamic Bank (DIB)
- Emirates Islamic (EIB)
- Emirates NBD (ENBD)
- First Abu Dhabi Bank (FAB)
- Investbank
- Mashreq
- National Bank of Fujairah (NBF)
- RAK BANK
- Standard Chartered Bank (United Arab Emirates) Limited
- United Arab Bank (UAB)
- Zand Bank
While the requirements are not overly high, it can be challenging to open an offshore bank account for clients with no relations to the country, due to the fact that clients are required to find a specialized banker who do not sit in a retail branch to facilitate the process.
Our team has all the necessary contacts with the relevant banks who can assist with the application
Compile Necessary Documentation
Due to the country’s stance on ensuring it meets the financial requirements and standard set by international governing bodies.
The average time for Opening an offshore bank account in Dubai takes 60-90 days.
With the assistance of relationship managers from each bank, this time can be reduced significantly.
Which documents do I need to open offshore business account in Dubai?
- Business Plan
- Bank Reference Letter
- Certificate of Good Standing
- Articles of Incorporation
- Certificate of Incorporation
- Certificate of Shareholder
- Curriculum Vitae (Shareholders and Authorized Signature)
- Financial Statement/6 Month Bank Statement
- Valid Passport – (Authorized Signature)
- Valid Passport – Ultimate Beneficial Owner (UBO)
- Utility Bill – (UBO and Company)
Documents needed to open offshore personal account in UAE
- Bank Reference Letter
- Curriculum Vitae (Shareholders and Authorized Signature)
- Financial Statement/6 Month Bank Statement
- Valid Passport – (Authorized Signature)
- Address proof with utility bill such as power, water, credit card
Expert Consultation
Communication is the key when it comes to opening an offshore bank account with local banksin the UAE.
Our team works closely with you and the bank to facilitate the process.
Eligibility
Each bank their own list of preferred nationalities and business jurisdiction where an international company can be located, that they will open a bank account for.
Additionally, minimum balance for opening an offshore bank account in Dubai starts from $150,000 USD
How BUH consulting can assist
Our team will work with you to understand your requirements, eligibility criteria and apply for your business and personal bank account with the most suitable banks in UAE that opens non resident accounts for non residence customers, both individual customers and foreign businesses.
A dedicated relationship managers from various UAE banks will work with you to open an offshore account for your company or yourself.
Contact information
For a tailored solution, contact us to discuss about your requirements.
Email: – sam@buh-consulting.com
Phone: +971585086656
Whatsapp: +971585086656
Telegram: BUHConsultingAE