The freezone companies are more flexible compared to offshore company to open the account in any of the banks. A free zone company is completely familiar worldwide and accepted form of company. Setup a free zone company also is easy but to open the bank account for free zone company is tough as offshore companies.
Features Of Free Zone Company Bank Account
- Free zone company can accept money from anywhere and spend locally
- Free zone company bank account can accept money locally
- Free zone companies are issued debit/credit cards
- Free zone companies offered trade finance
- Free zone companies are exempted from VAT for incoming fund and outgoing funds
Also Read: Formalities To Open a Bank Account In Dubai
Documents Required To Setup Bank Account in Freezone
- 6 months bank statements
- Resume of the account holder
- Corporate documents
- Proof of physical existence
- Signatures of the forms, passports, and other relevant documents
