Bank Account Opening Assistance

The importance of having a distinct corporate account in UAE for an organization can be clearly seen. This bank account helps the owner of the business to keep the transactions of the business separate from the personal finances. This account generally accompanies special conditions for their business.

Opening a bank account for your business can be a rapid and easy procedure with our banking professionals to assist you. Starting from helping you choose the bank that best suits your business requirements, to driving you through the requirements and steps, our team will be with you every step of the way.

Importance Of Having A Corporate/business Account

Monitoring Expenses

Every business needs to have an appropriate tracking system of their expenses and this way, they are aware of the expenses they are making. This, in turn, helps them in managing these expenses as per the financial situation and requirement of the business.

Cash Flow

When you know your income and expenses it’s easy for you to manage your cash flows. That’s why it’s important to have a corporate account.

Estimating the Tax

It’s important to have an appropriate tax calculation of your business because it will help you in keeping transparency in the payment of tax.

Company Loan

Having a corporate account can be beneficial if the business owner wishes to take out a loan for their business or obtain a business credit card.

Card Payments

Business account will assist the establishment in having card payments through their clients.

Look More Professional and Reputable

If you continue to use private funds to pay business expenses, it might look very unprofessional. Clients you do business with may assume you are new to the market (whether that is true or not!), you don’t believe your business is going to last, or that you are too careless to put in the effort to establish your business as a legitimate entity. A lot of clients are not comfortable in making payments into a non- business account.

Accurate and clean Book-keeping

This is to ensure your business and personal transactions are not mixed up when it’s come to the tax time rolls around at the end of the year. If you kept your accounts separated and have clean records, you will be good to go when the tax time comes.

Protection

The business-related banking provides limited protection on personal liability by keeping the personal funds and business funds separate. The merchant services offer the customers of the business with the purchase protection making sure their personal data is safe.

Purchasing Strength

The credit card accounts may assist the business in making massive start-up purchases and helping in creating a credit score for the business.

Least Account Balance

Most of the banks in the UAE offer low to zero balance business account in UAE to the organizations creating it easier to manage the cash flow.

Efficient Interest Rates

The banks in the UAE offer modest rates of interest or profit rate (in the case of Islamic Banks) on their business accounts making it worthwhile for the organizations.

Cheque Book Facility

The banks in the UAE offer modest rates of interest or profit rate (in the case of Islamic Banks) on their business accounts making it worthwhile for the organizations.

Online Banking

You can manage your business bank accounts online through the user-friendly online banking portal of the bank no matter where they are.

International Remittance

In any business it is important to have an international remittance on the business account, making it easy for the organization to transfer funds and grow in the international market. That’s why business account is important, as it will allow you to do large global fund transactions without any hassle.

Multiple Currency

You can now open your bank account in UAE with the major currencies across the globe. You can also do the transactions with the same currency.