Bank Account Requirements For Offshore Company
The main purpose of offshore company setup a bank account. An account for offshore company is not easy as before. The requirements to get an account for an offshore company is as follows; -
Good credibility in the bank Free from criminal records Financial stability anywhere in the world Company has to have an office or in the home country Preferably investor needs to have similar line of business Fund or transaction needs to be justified at compliance point of view Need to be resident in the country.
The above are essential factors to get an account for the offshore company but however, case to case there are differences. The offshore company brings nominee shareholders to open the bank account or for anonymity.
Why The Offshore Bank Account Is Made Difficult In UAE By Banks
To protect fraudulent practices To upgrade the standard of economy to world’s leading economies To prevent money laundering To have properly audited figures at national interest To stop transaction accounts which leaves no income in the country
Documents Required For Offshore Company To Open Bank Account
6 months bank statements Resume of the account holder Corporate documents Proof of physical existence Signatures of the forms, passports, and other relevant documents
Must Read: Formalities To Open a Bank Account In Dubai