At this stage, a set of documents is sent to the bank in electronic form, together with accompanying information about the company’s activities, economic results, proposed counteragents and cash flows.
Corporate documents (standard list)*:
If the structure includes other legal entities, a similar list of documents is requested for them.
*The list of documents is not exhaustive. The bank is not associated with us in any way and has the right to request any other documents and information. Depending on the jurisdiction of the company, the list of documents may differ from the one given above. Please contact a specialist at GSL Law&Consulting for details.
Company’s business profile:
Documents for individuals in the company structure:
Based on the information provided and scanned copies of documents, we put together and submit an application to the bank for pre-approval.
The time for obtaining pre-approval is 1 – 2 weeks on average (depending on the complexity of the case), during which time the bank may request additional information/documents.
Based on the information received at the pre-approval stage, we make a list of documents to be certified for account opening.
If a company is registered outside the UAE, its constitutive documents must be translated into English and certified by the bank office in Dubai (certification is done remotely, meaning no visit to Dubai is required). The passport of the signatory must be certified by the passport’s issuing country.
If a company is registered in the UAE, all its constitutive documents and the signatory’s passport are certified by the bank office in Dubai (certification is done remotely, meaning no visit to Dubai is required).
A complete set of original documents must be sent to the bank.
After all documents are delivered to the bank in Malaysia, the application moves to the final stage. The account opening time (after the bank receives all documents) is about 5-7 working days.
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Services
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Fees
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Stage 1 – services of:
== collecting and analyzing corporate and other documents required to be submitted to the bank; == putting together a detailed application for pre-approval, including full information about the company, its activities, owners and counteragents; == sending this application to the bank for approval; == dealing with additional queries; == drawing up a roadmap and a detailed description of all further steps in the account opening procedure. |
USD 1 000
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Stage 2 – services that include:
== advising on the preparation of a package of certified documents[2]; == preparing bank forms and advising on their signing; == sending a package of documents to the bank; == interacting with the bank at all stages of the account opening procedure. |
USD 3 600
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Stage 3 – payment of the remainder of the full fee when submitting a complete set of documents to the bank
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USD 900
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Success fee
An additional success fee is charged if the account is opened faster than the average standard procedure time, which is 2 months. |
+10% to the fee for the service
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Supporting an account opening for companies not administered by us
You can also contact our consultants to discuss the possibility of transferring companies under our administration and thus reducing the cost of the service. |
+ 20% to the standard fee for the service
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Supporting a complex account opening case:
1. Activity-wise: 2. Structure-wise: |
+ USD 450 to the basic fee for the service
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Follow-up support for the operation of the account:
- assistance with installing and setting online banking; - assistance in establishing interaction with bank representatives with respect to ongoing matters; - organizing the payment policy. |
First 3 months – USD 650.
From then on, a monthly fee as agreed, depending on the required scope of work, complexity of the case, etc. |
[2] To order apostilled documents that are issued by government authorities, please contact a specialist at GSL Law & Consulting.