Everything you need to know about opening an offshore bank account in UAE

Everyone wants to keep their money and their belongings very safe. But keeping your dearest things
safe is not very easy especially when you live in a world where economies keep on fluctuating so much.
The safest way to keep your money from being affected by the fluctuations of changing economy is to
find a place where the effects of economy are close to minimum. Nowhere is better in this regard than
UAE. The country has a very strong and stable economy which makes it the most suitable place to invest
you money in. And UAE understands this as well. This is why there are a lot of banks and other
opportunities of investment in UAE.

The number of banks in UAE is quite large. There are many banks working in this land because of the
need of people of different countries who want to open offshore bank accounts in UAE. The central
authority of the banking system working in the UAE is called the UAE central bank. They have all the
information regarding the banks working in their lands. They release their report a few months back
stating that there are almost 46 commercial banks who are currently working in the UAE. Apart from
these commercial banks there are more than 68 branches of different international banks in UAE as
well. All these act as a fair guarantee for anyone to want to open an offshore account in UAE.

But there is no way to just open an offshore account without investing any money in a business in UAE.
That is because UAE is a country who supports business related activities in their land very well. If you
want a good way to invest your money you have to register a company in UAE first. This will help you in
making a way to open an offshore bank account. You have to choose any of the zones to start up your
company, Fujairah free zone is one of the most illustrious zones to have a business setup in. After the
company is registered the process becomes very easy.

There are a lot of people even from developed countries who want to open an offshore account in UAE
because of the easier taxation in this country. Most of the European countries charge a lot of taxes to
their people. In some countries the taxes are as high as 40% and even more to an average salary. This
makes UAE a good option for investment of their money. This becomes the reason as to why so many
people from Europe and other developed countries choose to open back account in UAE.

After understanding why do people need an offshore bank account in UAE and what are the basis of this
new trend, let us talk about the ways in which we can open an account in a back in UAE. The process
with step by step understanding and guidance will make it easier for you to get started with it. UAE
allows the people to have bank accounts in different currency forms as well. You can have a dollar, euro
or AED currency for your bank account and things would run very smoothly for you the way you want
them to be.

There is no way that you can open an account without having a company in UAE. So this is your first step
to get started with an effective investment procedure. You can choose an Abu Dhabi main land
company setup as it is one of the most wanted setups that is most beneficial for you as well. Once you have a registered company you can move forward towards the second step of having your own offshore
bank account.

The second thing that you need to do is to get a residence visa in UAE. You can get it easily as soon as
your business gets registered in the governmental data of the country. Then you can look forward to
move towards the next step. Getting the residential visa can be a tough work to do as well. That is why it
is advised to always get help from some reputed consultants in UAE. There are many business
consultants and agents who are registered and are working in this field for a very long time. You can get
their help to get a residence visa and get all other information regarding opening of a back account in

Now the facilities that you are going to get by opening a bank account in UAE are very different and they
depend upon the type of company that you own. It is generally believed that a free zone company gets
more benefit as compared to an offshore company when it comes to opening a bank account. For a free
zone company bank account you can expect to get the facilities including online banking facility, token
facility, credit card facility, debit card facility and the facility to access online banking etc. And all these
are made very easy for the investors as well. On the other hand if you want to open an offshore
company bank account you will get completely different facilities. It totally depends on you that which
bid you want to make.

Another thing that is to be kept in mind while getting ready to open a bank account is that there is a
minimum amount of money that you have to keep in your account in order to open it. This amount may
vary from one back to another but mostly the range is in between AED 25000 to AED 200,000. You have
to keep at least this amount in your bank to keep it working well. If all these requirements are fulfilled
by you and there is nothing missing then you will get your account opened soon. The choice of bank
totally depends on your own will. It is advised to do your research before you get started with anything.
It will prevent you from any bad circumstances.