Dubai is known for its state-of-the-art facilities and investor-friendly location as well as its favourable taxation.
Yet, starting a business in Dubai could be a rough ride when it comes to opening a bank account. The banks are extremely precautious to open any business bank accounts and certain activities as well as nationalities, locations are considered high risk, which makes it nearly impossible to open a bank account.
So when does the bank account opening process really start?
In my strong opinion, it starts at the time of creating the structure for the business. It is entirely the role of the consultant (if he/she is at the top of his/her profession) to advise the investor on which activity to pursue and what elements need to be added to the company. When this step is carefully done and when the bank’s requirements are met in a timely manner, the bank account opening can be done fairly smoothly.
Where is the problem then?
The main problem is when the consultant is ONLY a salesperson whose only job is to sell a company but not an advisor. In this case, the client who decides to set up his business will end up with a very expensive decoration aka trade license, which doesn’t serve the purposes of the investor.
Here is the solution!
A great advisor on the other hand has the benefits of the investor in mind and creates a structure that is equally helping to fulfill the plans of the investor and aims to facilitate the bank account opening. We at Beacon will deliver you a full product, handle the entire bank opening process and get your business bank account opened for you.
