Q: Hello, I have a question related to business. I have set up a business in the UAE (Flexi desk in Free Zone). The business activity is E-Commerce. I have registered the business and obtained a UAE Investor Visa, but when it came to opening a bank account, I faced a lot of difficulties. While I was waiting for the opening of a bank account (which took me 4 months and the banker has failed to open a bank account), I have opened a merchant account with Telr. I started accepting payments online from my customers and right now there's money in the merchant account which can be withdrawn to a UAE business bank account (as I have mentioned earlier, I don't have a UAE business bank account). So I have contacted them and asked if they can transfer the money to my personal bank account which is outside the UAE (US bank account or my Russian bank account). They have stated that they can't settle funds to the bank account outside the UAE due to UAE CB rules. Can you suggest me please what I can do in this situation?

Q: 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.

Q: Hello, I am a resident of the UAE. I own 2 businesses; a Freezone company in Dubai for my consulting activities and an LLC in the USA for my commercial activities. So I have 2 business accounts, one in the UAE for my Freezone and one in the USA for my LLC. Do I have the right to transfer funds from my US LLC directly to my personal Emirati account? Will these funds be considered as salary or dividends? Do I have to produce documents? Thank you in advance!

Q: Dear Sir/Madam, Can I withdraw cash from my own company account for personal use and/or issue a cheque from the company to pay for a property?

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.

The law defines the crimes related to money laundering, commitments and the jurisdictions of the governmental authorities, and the sanctions against perpetrators of money laundering.