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Category: Banking and Financial Services

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Factors to Consider When Choosing Your Offshore Bank Account

July 21, 2022

Are you looking to open an offshore bank account for either personal or professional purposes? There are a lot of factors that go into that decision such as your business goals, your financial goals and, of course, your circumstances. With a wealth of experience in the offshore realm, both in the UAE and other reputable jurisdictions around the world, take a look at our recommendations for choosing the right offshore bank account.  Benefits of Offshore Accounts If you are travelling to multiple locations around the world, an offshore bank account allows you the flexibility of having all your money in a single bank account abroad without having to navigate numerous foreign banking systems with varying residency requirements. Here are some of the main benefits of offshore accounts:  If you

The Accounting Conundrum Solved – Accounting Services in the UAE Made Simple

December 23, 2021

The UAE has one of the fastest growing economies in the world – and companies based in the UAE reap many benefits. It accepts new investors with open arms and in recent years, Dubai has become one of the best places in the world in which to base your company.  However, even free trade policies still come with corporate obligations. The implementation of VAT in the UAE has affected the tax calculation and the way businesses operate and it’s imperative to examine the required tax accounting services in the UAE. Let’s have a closer look at what those services are and why a business would need them.   Typical Accounting Services for UAE Companies Companies in the UAE must keep accurate financial records that provide

CRS Explained: How It Affects Your Business

July 22, 2021

When you go about company formation in any jurisdiction, the procedures you undergo don’t stop once you acquire your company licence. You must consider (based on your jurisdiction) what to do to ensure you maintain your favourable status. What are the ongoing corporate governance and compliance components you can’t afford to ignore? We have all the details. But first, what is corporate governance? Corporate governance refers to the framework an entity employs to direct and control all the moving parts. This system includes the necessary processes, norms, and regulations a firm needs to accomplish its business goals while balancing internal and external stakeholders’ needs. Beyond this definition, how does this work in practice? The primary organism in charge of driving this structure is its board of directors because they

Debunking “Setting Up a Bank Account in the UAE is Difficult”

July 8, 2021

When you go about company formation in any jurisdiction, the procedures you undergo don’t stop once you acquire your company licence. You must consider (based on your jurisdiction) what to do to ensure you maintain your favourable status. What are the ongoing corporate governance and compliance components you can’t afford to ignore? We have all the details. But first, what is corporate governance? Corporate governance refers to the framework an entity employs to direct and control all the moving parts. This system includes the necessary processes, norms, and regulations a firm needs to accomplish its business goals while balancing internal and external stakeholders’ needs. Beyond this definition, how does this work in practice? The primary organism in charge of driving this structure is its board of directors because they

Banking Corporate Governance and Ongoing Compliance Obligations

February 18, 2021

How does banking corporate governance differ from standard corporate governance principles? As we’ve previously highlighted on the blog, the global fight against financial crime and money laundering has put compliance at the heart of banks’ missions. With that in mind, the Emirati banking system tightened its restrictions on a regulatory level with the consequences that it’s more difficult for prospective corporate and personal banking clients to open an account. Discover the most crucial details. What is governance risk and compliance in banking? While the idea of governance risk and compliance (GRC) has been around since regulations surrounding banks existed (after all, financial institutions needed to respect them to have the right to continue operating), GRC expanded its scope over time. If we examine the abbreviation, then compliance and risk

How to Open a Corporate Bank Account in Dubai for Foreigners

February 17, 2021

One of the most important qualities of a good business owner is the ability to plan for the future. It’s also essential to plan for untimely events to ensure that all matters are handled and passed on to the right beneficiaries. For expatriates living abroad, this matter is even more important. Creating a will that is legal in the UAE and your home country, even if you have nominees, is a must-do for expatriates.  Why is having a will in the UAE important?  When an expat passes away in the UAE, Emirate courts take over the administration and handling of the will. After changes to the law in November 2020, expatriates’ wills from their home countries are considered valid, as long as

business consultancy services in Dubai

Outsourcing Business Consultancy Services in Dubai: Drive Growth

In today’s fast-paced and competitive business environment, companies are constantly looking for ways to streamline operations, reduce costs and focus

Best Offshore Accounts for Expats in the UAE

The Best Offshore Accounts for Expats in the UAE: What You Need to Know

The best offshore accounts for expats in the UAE provide a strategic avenue for individuals and businesses to optimise their

Debunking “Setting Up a Bank Account in the UAE is Difficult”

When you go about company formation in any jurisdiction, the procedures you undergo don’t stop once you acquire your company

Banking Corporate Governance and Ongoing Compliance Obligations

How does banking corporate governance differ from standard corporate governance principles? As we’ve previously highlighted on the blog, the global fight against financial crime

How to Open a Corporate Bank Account in Dubai for Foreigners

One of the most important qualities of a good business owner is the ability to plan for the future. It’s

Why Could You Face Issues With UAE Company Bank Account Maintenance?

When pursuing a business opportunity abroad, opening a bank account for your company is a critical factor along with the

Master Corporate Banking Solutions in the UAE

What corporate banking solutions are at your disposal in the UAE? This question is one of the most critical throughout the company formation

Have More Confidentiality With Company Nominee Services

Have you thought about adding any corporate nominee service for your corporate governance? If you’re looking to add another layer of confidentiality,

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