The best UAE banks for offshore business
Offshore banks in the UAE are of increasing interest to businesses, as they actively protect accounts from tax authorities' control. The main advantages of the emirates are reliability of banks, data security, high-quality Internet banking, the low cost of service. There are hundreds of reliable financial institutions operating in the UAE. Today, let's talk about which UAE 2022 offshore banks are considered the best.
Barclays Bank in the UAE is one of the most trusted banks in the world. It is a branch of a British bank that operates in many countries, which offers great prospects to offshore business owners. It has convenient online banking and multi-currency accounts are available. To open an account with Barclays Bank, you need a minimum number of documents. The bank does not pick on its clients.
Noor Bank was founded at the initiative of the Dubai government in 2008. It was the first bank operating 24/7. In 2013, a division that works with small and medium-sized businesses appeared. The institution provides banking, investment, and financial services, as well as loans to foreigners. Both private and corporate clients, including offshore companies, can open an account with Noor Bank.
Emirates Islamic Bank
Opening an account with Emirates Islamic Bank is an option for companies who want to conduct business activities in Arab countries. It was established in 2004 to provide banking services in accordance with Shariah principles. The bank offers products designed for individuals and small businesses as well as large corporations.
The bank's operations are structured into three segments:
The corporate and investment segment works with legal entities and accepts their deposits. It also works with investment securities, funds, and real estate.
Emirates NBD is the second largest bank in the UAE. It has branches in Turkey and Egypt and plans to operate in India. For customers who choose to open an account with Emirates NBD, the bank provides international currency accounts in 3 options:
- fixed deposit;
- demand deposit.
The customer can get a free checkbook, overdraft is available. The account can be used to pay for different services, such as telephone, electricity, and various fines.
Commercial Bank International (CBI)
CBI is headquartered in Dubai and listed on the Abu Dhabi Stock Exchange. The CBI is regulated by the UAE Central Bank and the UAE Securities and Commodities Authority (SCA). The institution offers a wide range of services to companies that choose to open an account with CBI, including assistance in business and financial management.
The bank's work is divided into three business segments:
- banking - treasury, investment, corporate and retail operations;
- brokerage activity;
- real estate segment - brokerage and real estate-related services.
The bank offers corporate deposits, loans, risk management and credit cards to the client who decides to open an account with CBI.