Foreign investors coming to Dubai have various business options. While some of them may decide to register businesses, which operate in various industries, such as the retail one where they can open traditional shops, but they can also opt for the online variant of them. No matter the type of companies they decide to open in Dubai, the merchant account has become a must nowadays.
The merchant account is a bank account that enables Dubai companies to accept various types of payments from their customers. Depending on these payments, there are various aspects to verify when opening a merchant account in Dubai.
Our company incorporation consultants in Dubai can offer more information on how to create a merchant account in the UAE.
Payments which can be processed through merchant accounts in Dubai
As mentioned above, a Dubai company can process various types of payments through a merchant account. The most common payments are:
- credit or debit card payments directly at the company’s business place;
- online payments via the company’s website;
- payments via email.
Once the payment method is chosen, the merchant account will be set up by installing POS (point-of-sale) equipment that enables the customer to pay. In the case of online payments, a gateway will be required in order to enable the Dubai company to process these payments.
Our company formation agents in Dubai can also help those interested in starting an online business in the emirate.
How to create a merchant account in Dubai
No matter the type of business one has in Dubai, opening a merchant account will imply submitting various documents with the bank or financial company supplying merchant account services. These documents usually imply:
- application forms;
- information about the company;
- other documents related to the installation of the payment processor.
Companies also have the option of linking their merchant accounts to the corporate ones based on several documents, as requested by Dubai processing the corporate bank account of the business.
For full information on how to open a merchant account, but also for assistance in setting it up, please feel free to contact us. We can also help you open a company in Dubai.