Monthly Archives: November 2018
How can a non-resident open an account in Europe without visiting a bank?
Today, a foreign bank account in a country with a reliable and well-organized banking system is an indispensable tool for both private and corporate individuals. Problems in the banking sector and crises in the home country, the risk of loss of assets due to criminal or legal prosecution, currency depreciation – these and other reasons make many people think about withdrawing money to a safer place.
The banking system of many European countries is well developed, reliable and well organized. Continue reading
Bank accounts in the UAE: changes and innovations
Unfortunately, in the UAE there are only a few banks that work with offshore, it is:
Emirates NBD, and the bank requires that the average monthly account balance be maintained at least $ 137,000;
United Arab Bank, and the bank requires that the average monthly balance on the account be maintained at least $ 100,000;
RAK Bank, and the bank requires that the average monthly account balance be maintained at least $ 275,000.
In addition, in order to apply for opening accounts of offshore companies in these banks, the owner of the company (shareholder) must be a resident of the UAE – in order to have a rationale for why you need a bank account in the UAE. Continue reading
Questions to ask a banker before investing
A private bank, managing other people’s assets rarely takes a large commission. Often we are talking about 1-2% per annum of the size of the assets. The proposal looks tempting, so not everyone asks additional questions.
A must. The fact is that in addition to the commission of the bank itself, there are additional commissions: the commission of the mutual fund, if your banker invests money in mutual funds; stock / bond storage fees; withdrawal fee, etc. Continue reading
