The UAE banking sector has proved its ability to deal with challenges and has succeeded in managing and surviving a series of crises while being able to meet international standards at all levels through latest developments and techniques.
The UAE Banks Federation annual report highlighted the good performance of banks and apparent growth in almost all indicators, reflected in achieving a liquidity, a strong reserve base and a high capital adequacy ratio. The UAE banking sector remains the Arab world's largest in terms of assets.
The UAE has the highly developed banking sector. Large local and international banks are present throughout the countries with its branches, all of them offering extremely high-quality service for competitive prices. In addition to that, they have reasonable requirements for the documentation to be provided to open RAK company bank account and they follow international compliance standards.
Bank accounts for RAK company can be opened for both legal entities and physical persons. If we are taking into consideration a legal entity, then bank accounts in the UAE can be opened for:
- Offshore companies;
- Onshore companies.
In terms of physical persons' accounts, it doesn't matter if he/she is a resident of the UAE or not.
While choosing a bank, you should be definitely sure it corresponds to your requirements and preferences regarding bank services, bank tariffs and required minimal deposit amount.
The set of documents required for RAK company bank account:
- Colorful passport copies of the shareholders, directors, all of them being self-attested;
- Bank reference letter;
- Bank statement for the past 3-6 months;
- Short business plan outline (nature of the business, currencies, expected turnover, clients and suppliers with their addresses, information on the initial deposit);
- Phone numbers, e-mails provided to the bank;
- Complete professional and educational background of all the shareholders and account signatories.
Opening a bank account for Ras Al Khaimah company is quite a straightforward process. If you are inclined to find out more and require additional information, you have a great opportunity to reach out to us and we will be more than happy to fill you in with details.
