Finance

A joint bank account is an account shared by two or more people. These accounts are used by closed inner circles such as relatives, wives/husbands, business partners, etc., where there is an element of trust between the members. Anyone with access to a joint bank account can conduct transactions. In…

Everyone applies for a loan at least once in their life. But there is no guarantee that your loan application will be approved. Most loan applications in the UAE are simply rejected due to a low credit rating. It is not easy to get a loan without a credit rating…

The UAE has many banks that provide savings accounts with preferential interest rates and hassle-free documentation procedures. Even though this provides us with many options to choose from it can also lead to a big confusion as to which account will be more beneficial in the future. To help you…

It is basically a letter which is sent by the employee’s company to the bank. The company’s employer writes a letter on the company’s letterhead, mentioning that the employee’s salary mentioned in the letter will only credit the bank, and the lender will approve the loan. The letter mentions that…

Today, car loans have become a necessary condition for buying cars in the UAE. Before choosing a specific loan, many factors need to be considered, such as interest rates, returns, and processing time. Many banks provide car loans for new and used cars. 1- Al-Hilal bank It is automobile finance…

The UAE maintains the most relaxed business environment. Prospective investors/entrepreneurs around the world can easily establish a business in the UAE. To meet the demand for finance, financial institutions have provided the best business loans in the UAE at competitive prices. There are many options available to investors. 1- Abu…

This is basically a letter sent to the bank by the employee’s company. The company’s employer writes a letter on the company’s letterhead, the employee’s salary is given only to the bank, and the lender approves the loan. The letter states that if employees receive their salaries by the end…

Housing financing/mortgage lending in the UAE can be difficult and frustrating. Many factors need to be taken into accounts, such as the duration of the loan (loan term), long-term interest rates, and early liquidation commissions. There are many banks in the UAE that provide mortgages at competitive interest rates. However,…

VAT is the latest addition to UAE taxation. It has been implemented since the start of 2018. In the current state, it is vital that the company registers VAT in the UAE so that it can charge VAT to customers. After the registration process is completed, the registrant will receive…