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Dubai, UAE

Is it possible to transfer money from personal account to company account?

Hi there,

I'm a new business owner in Dubai (Professional Consulting services - business consulting, startup consulting etc.), and I recently opened my business bank account.

I know in order to get loans or credit cards, banks ask for bank statements... etc., and as I am just starting out there is not much revenue in my account.

However, my personal account in Dubai does have money, and I was wondering if there is any downside to me transferring a set amount to my business bank account each month in order to build out my banking history.

Any thoughts or other alternatives would be much appreciated.

Thanks,

A.

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Al Safar & Partners Advocates & Legal Consultants
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3 Jan 2021, 08:53

You can do this, and I suggest you that in the form of a loan that is transferred from your personal account to the company’s account so that there is no overlap in the accounts and the company can claim the amounts after a period.

For further info, you may contact us by phone or email.

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