Company and Bank Account for an IT Business

Situation

The client develops software and is paid by clients in Europe and the US. He needed a company, a residency visa and a corporate account through which these payments would go through without questions from compliance.

The first consultant had suggested a cheap licence in a zone where his activity was not on the list of permitted activities — with a licence like that, the bank would almost certainly have declined.

What we did

1. Choosing the zone. We selected a free zone with a dedicated IT licence and a reputation banks are comfortable with.
2. Registration. We arranged the licence, the establishment card and the visa quota within five working days.
3. Visa. We processed the founder's visa, medical test and Emirates ID.
4. Account. We prepared the compliance package: a description of the business model, client contracts, and proof of the source of funds. The account was opened with no further requests.

Result

Key takeaway from this case

The cost of the licence is not the main criterion. A mismatch between the activity and the zone's permitted list surfaces at the bank compliance stage, once the licence fee has already been paid — and re-registration means a new budget and lost weeks.