The company was open. The bank account wasn't.
A UK business owner with a company in IFZA.
Speak to us about your situationThe situation
Alan's company was already set up — licence issued, visas done. On paper it was finished. But months in, he still couldn't get a bank account open, and without one the company couldn't trade.
Why they came to us
He'd spoken to us first, then set the company up himself to save a little. A couple of months later he came back, stuck: the licence existed, but no bank would open an account and he couldn't see why.
What we recommended
Not a different bank. We reviewed the structure against what the business actually did, and the activity on the licence didn't describe the real business — so when the bank looked at the company, it couldn't tell what it was being asked to bank. We changed the activity to match what Alan actually does, prepared the supporting documents and a clear explanation of the business, and went back to the bank.
The outcome
The account opened. Alan went on to open two more companies with us — both in RAKEZ, one for him and one for his wife — and a holding company in RAKICC, and we handle the ongoing side now.
They've helped across all areas of creating a series of companies in Dubai that would have been impossible without them. They even stepped in to unwind the errors in my UAE company structures that I had tried to create without their guidance. Straight talking, genuinely knowledgeable and do what they say they will.
— Alan
Thinking about a move like this?
Tell us what the business does and where it is heading, and we will tell you whether we are the right firm.
Talk to us