Opening of offshore Account depends on multiple factors, such as the type of company you own, the nature of business, nationality of the shareholders and business plan. The average time to open an account may vary from 2 weeks to 2 months.
All United Arab Emirates banks have online banking portal as well as mobile banking. You can activate and function your account using the Internet from any place in the world.
The minimum required deposit depends upon the concerned bank. The minimum deposits can range from start from 25,000 AED and up to 500,000 AED.
The following banks open accounts of UAE offshore companies: Mashreq, NOOR, Emirates Islamic, and RAK BANK.
To open an offshore bank account, a passport, proof of residence and a bank reference letter (optional) are usually required. The bank should also be informed about the source of the funds.
In the meantime, the advancing global digitalization has partially reformed the banking system, many banks are offering online administration. In order to open an offshore account, on the other hand, you are required to be present personally. Only this can offer you with the highest security while opening the bank account in UAE.
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