Tax advantages, international trade, discretion and access to international markets are among the advantages of an offshore bank account, but also the geographical diversification by not accumulating your wealth in just your home country. Dubai is one of the world’s most important financial centers and offers a variety of first-class banks. In addition to local banks, almost all international banks are represented in the United Arab Emirates; in addition to CITI Bank, HSBC, Standard Chartered and Barclays Bank, Deutsche Bank and the Swiss UBS are also establishing their presence in Dubai.
To open a bank account in Dubai, a UAE residence permit and incorporating a company in one of the free trade zones is recommended. Although this is not a mandatory requirement, opening a bank account is made easier this way.
In addition to banks in Dubai, we maintain long-term and close contact with banks in all major financial centers:
We would be happy to assist you with the process of opening a bank account as part of a company incorporation or relocation.Contact Us
The offshore bank account is the key tool that you can use to manage your company financially. Dubai Offshore offers you comprehensive support around the establishment and administration of an offshore account. Our highly exclusive network of partner banks includes Andorra, Antigua, Austria, the Bahamas, Belize, the Cayman Islands, the Channel Islands, Dubai (we recommend the free trade zone), Hong Kong, Liechtenstein, Luxembourg, Mauritius, Monaco, Montenegro, Switzerland, the United Kingdom and the United States of America.
A large network of various banks in the United Arab Emirates is available to GWS Middle East. This network is at your disposal to set up an offshore bank account for your company. We strongly recommend the establishment of a free trade zone company so that the necessary evidence of substance can be brought to the local banks. We are, of course, happy to answer any questions you may have about practical implementation. Our team of experienced and highly qualified customer advisors understands the importance and urgency of a corporate bank account very well. Should you have any doubts or questions, we will happily support you with a pre-approval check. Highest adherence to deadlines is the number 1 priority of Dubai Offshore, which is why everything is done to ensure that our company does not cause any delays.
When opening an offshore bank account, we calculate between 24h and 7 working days, since this time factor is largely determined by the respective bank. Our customer advisors are proud to implement the individual sub-steps for the establishment of an offshore company for you in a discreet way in the shortest possible time and at the highest quality. The management of GWS meticulously checks the banks and selects the individual partner banks very carefully, because not only the account has priority, but also the quality of the banking service.
Opening a RAK offshore bank account implies far simpler steps than opening an offshore account in any other low-tax jurisdiction. All you need is a letter of recommendation from your current bank. Your passport must also be attached to the documents, as well as a business plan and as many receipts as possible, such as invoices and supplier information.
When it comes to choosing a bank, you can access our network of professionally positioned international banks through us. They are used to working with non-resident entrepreneurs and their entry barrier is more reasonable and understandable than that of the big international banks (Citi, HSBC, Standard Chartered etc.).
An offshore bank account is a bank account that is opened outside of your home country. This type of account is often used to protect and secure you assets and take advantage of the tax benefits when making international transactions.
What are the benefits of offshore bank accounts?
Offshore bank accounts often offer tax advantages, access to international markets and currencies, asset protection and enable international transactions, as well as access to investment products and asset management.
Dubai is an international financial center with ever increasing relevance to the global economy. Dubai is characterized by the stability of the individual banks. As a zero-tax jurisdiction, Dubai offers tax flexibility and enables access to international markets. In Dubai you will enjoy the best international connections to the capital market.
Opening a corporate bank account costs $ 950. These costs include all administrative steps to make your account immediately available for use.
Since the advancing global digitalization also partially reforms the banking system, many banks have been offering online administration. In order to open an offshore account, however, you must be present personally. Only this can provide the highest security when opening the bank account.
To open an offshore bank account, a passport, proof of residence (e.g. an invoice from a utility company) and a bank reference letter are usually required. The bank must also be informed of the source of the funds. We would be happy to discuss with you what preparations you need to make in order to pave the way to your own Dubai offshore bank account. We make sure that the communication between you and the bank remains at a very efficient level.
An offshore bank account is a bank account outside of your own home country. This is often used for asset protection, tax optimization and international transactions.
Offshore bank accounts often offer tax advantages, access to international markets and currencies, asset protection and enable international transactions as well as access to investment products and asset management.
Dubai is an international financial center and is characterized by the stability of the banks. As a zero-tax jurisdiction, Dubai offers tax advantages and enables access to international markets.
Only a few banks offer non-residents the opening of bank accounts, usually only for investment customers.
The account opening process in Dubai varies greatly from bank to bank and depends on the respective business model and background of the customer. In general, a bank account can be opened within a week. For corporate bank accounts, the opening process can take up to 4 – 8 weeks.
Opening a corporate bank account costs $ 950.
With the increasing digitalization of banks and their services, more and more banks are opening an account online, usually the original documents have to be then sent to the bank by post or courier.
To open an offshore bank account, a passport, proof of residence (e.g. utility bill) and a bank reference letter are usually required. The bank must also be informed of the source of funds.