It’s important to note that the process can vary depending on the bank and the type of company you plan to establish. Some banks may also offer additional services such as online banking, debit and credit card facilities, and access to other financial services.
Dubai does provide offshore bank accounts to businesses with free zone registrations. These offshore business bank accounts are designed for businesses with legal presence in the UAE but that are registered in free zones, operating outside the UAE. These accounts might provide the advantages of an offshore bank account, such as more discretion, flexibility, and tax savings.
Typically, businesses with a legal presence in the UAE but that are registered in free zones and conduct business outside of the country should open an offshore bank account in Dubai. These accounts might provide additional tax efficiency, discretion, and flexibility. Additionally, they might be governed and monitored by the rules of the free zone and Central bank of UAE.
In summary, Dubai does offer offshore bank accounts for companies registered in the free zones, which are intended for companies that are operating outside of the UAE but still have a legal presence in the country. These accounts may offer the benefits of an offshore bank account such as greater flexibility and secrecy, as well as tax efficiency, and they may be subject to regulations and oversight as per the rules of the free zone and Central bank of UAE.
Our company, GBO, offers a one-package solution, where we assist you with the company formation process and bank account opening. We have a wide range of bank partnerships, and we can help you choose the best bank that aligns with your business needs. Contact us today to learn more about how we can help you open a business bank account in Dubai