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theprivatewolf · 4 months

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The Top 8 International Offshore Banks in Dubai 2024

Dubai, a global financial hub, is home to numerous international banks offering offshore services. In 2024, these are the top 8 international offshore banks in Dubai that stand out for their reliability, services, and customer satisfaction. 1. HSBC Middle East HSBC Middle East, a subsidiary of one of the largest banking and financial services organizations in the world, offers comprehensive offshore banking services. Known for its global reach, HSBC Middle East provides a range of services including multi-currency accounts, wealth management, and international fund transfers. 2. Citibank Citibank is renowned for its international banking services. It offers a variety of offshore accounts, investment options, and wealth management services, catering to both personal and business needs. Its global network makes it a preferred choice for international clients. 3. Emirates NBD As one of the leading banks in the UAE, Emirates NBD offers diverse offshore banking solutions. Known for its customer-centric services, it provides a range of accounts, online banking facilities, and investment options tailored to meet the needs of international clients. 4. Habib Bank AG Zurich Habib Bank AG Zurich specializes in providing personalized banking services. With a focus on private banking, it offers bespoke solutions including offshore accounts, wealth management, and private banking services tailored to high-net-worth individuals. 5. Royal Bank of Canada The Royal Bank of Canada, with its global presence, offers a broad spectrum of offshore banking services in Dubai. Known for its expertise in wealth management and international banking, it caters to a diverse clientele looking for reliable offshore banking solutions. 6. Noor Bank Noor Bank, known for its Sharia-compliant banking services, offers a range of Islamic banking products. It provides offshore banking solutions that align with Islamic finance principles, making it a unique choice for clients seeking ethical banking options. 7. Dubai Islamic Bank As a pioneer in Islamic banking, Dubai Islamic Bank offers a variety of Sharia-compliant offshore banking services. It’s renowned for combining traditional Islamic values with modern banking practices, providing a unique blend of services for its international clients. 8. Standard Chartered Bank Standard Chartered Bank is known for its strong presence in Asia, Africa, and the Middle East. It offers a range of offshore banking services, including multi-currency accounts, international transfers, and wealth management services.

Dubai International Financial Centre (DIFC) The DIFC is a leading financial hub in the Middle East, Africa, and South Asia region. It hosts many of these international banks and provides a robust legal and regulatory framework, making it an ideal location for offshore banking. Choosing the Best International Bank in Dubai for Businesses Selecting the right bank for your business involves considering factors like international transaction capabilities, multi-currency account options, digital banking facilities, and the quality of customer service. Do You Need a Bank Account for a Visa in Dubai? Having a bank account in Dubai can facilitate the visa application process, especially for business visas, as it demonstrates financial stability. Opening an Account With a Bank in Dubai Opening an account typically involves providing personal identification, proof of address, and possibly a reference from your current bank. The process can often be started online, followed by a personal visit to the branch. The Benefits & Pitfalls Of Offshore Banking Offshore banking in Dubai offers benefits like tax efficiency, privacy, and access to international markets. However, it’s essential to be aware of the legalities and the potential risks involved in different jurisdictions. Open Your Bank Account in Dubai To open an account, start by researching and choosing a bank that fits your needs. Then, gather the necessary documentation and visit the bank in person or initiate the process online. Dubai’s position as a financial powerhouse continues to grow, and these top 8 international offshore banks are at the forefront, offering world-class services to a global clientele. Whether for business or personal needs, Dubai’s banking sector is equipped to cater to a diverse range of banking requirements.

M.Hussnain

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#offshore #offshore bank account #offshore bank #dubai #private wolf #business setup #business #business in dubai #how to open bank account #open offshore bank account in dubai #open offsore bank account

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banqmart · 6 months

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Things to Consider While Opening a Business Account

Are you an aspiring entrepreneur looking to set up shop in the vibrant business hub of the United Arab Emirates (UAE)? If so, you're in the right place. Business bank accounts offer the security and flexibility businesses crave, handling large transactions and simplifying cash management. Plus, opening one is a breeze with minimal paperwork.In this article, we'll unravel the intricacies of opening a business bank account in the UAE, a crucial step in kickstarting your entrepreneurial journey in this thriving region and don't forget to check out the common mistakes to avoid when opening a bank account.

Benefits of opening a business bank account in the uae

Starting a business in the UAE comes with numerous perks, and one of them is access to specialized business bank accounts. Here are some compelling reasons why you should consider opening one:

Unlimited daily transactions: Business accounts in the UAE provide the flexibility to carry out unlimited daily transactions. While some banks may impose cash withdrawal limits, these accounts ensure you have the financial freedom your business demands.

Complimentary services: Banks in the UAE go the extra mile by offering complimentary services such as chequebooks, teller transactions, and debit cards, making it convenient to access and manage your funds. Some banks even provide credit cards tied to your account.

Multi-currency support: In the global business landscape, flexibility is key. Most UAE business accounts accept multiple foreign currencies, including USD, GBP, and EUR, alongside the local currency (UAE Dirhams). This enables seamless international fund transfers.

Interest on funds: Imagine earning interest on the funds sitting in your business account. Several banks, like RAKBANK, offer interest rates on business account balances, helping your money grow even while it's at rest.

Dedicated relationship manager: With a business bank account, you'll have a dedicated relationship manager to assist you in managing your account effectively. While not all accounts offer this service, it's certainly a valuable perk to consider.

Monthly statements:Stay on top of your finances with monthly statements that provide a detailed overview of all your transactions. These statements are invaluable for maintaining accurate records.

Access to business loans: Need capital to expand your business? Having a business bank account in the UAE can enhance your eligibility for business loans at competitive rates.

Foreign exchange and trade finance: Enjoy favorable foreign exchange rates and access to trade finance options, which can be a game-changer for businesses engaged in international trade.

Business fixed deposit: Consider opening a business fixed deposit account to earn attractive interest rates, helping your business grow sustainably.

Payroll management: Easily and securely manage employee salaries through your business account, ensuring timely payments.

Digital access: Embrace the convenience of digital banking with full access to your business account anytime and anywhere.

Choose the right bank

Selecting the right bank is crucial when opening a business account in the UAE. Here are some reputable options to consider:

RAK Bank: Renowned for its customer-centric approach and competitive offerings, RAK Bank is a popular choice among business owners.

Abu Dhabi Commercial Bank (ADCB): ADCB is a trusted name in the UAE banking sector, known for its comprehensive range of business banking services.

Emirates NBD: As one of the largest and most well-established banks in the UAE, Emirates NBD offers a wide array of business banking solutions.

Requirements to open a business bank account

Before diving into the account opening process, it's essential to meet specific requirements. Keep in mind that these requirements can vary based on your business type and circumstances. Here's what you need to know:

Business license: To start a business in the UAE, you must obtain a valid business license from the Department of Economic Development (DED). This license is also referred to as a trade license and is a prerequisite for opening a business account.

Visa requirements: Ensure that you meet the visa requirements set by the banks. This may include submitting a trade permit or work visa. Having at least one shareholder with a residency visa can expedite the process.

Nationality and residency: While both expats and nationals can engage in business in the UAE, the requirements differ. Locals may only need a trade license, while expats typically require additional documentation.

Minimum average balance: Different account types have varying minimum average balance requirements, ranging from AED 50,000 to 500,000 or more, depending on the bank. Falling short of this balance may result in penalties or affect your ability to earn interest.

Required documents: Prepare a set of documents, including identification, business plans, shareholder details, bank statements, and more. The bank will verify and process your application based on these documents.

What are the documents required to open a business bank account in the UAE?

Are you planning to set up a business in the UAE and wondering what documents you need to open a business bank account? Look no further! In this comprehensive guide, we will walk you through the essential documents required to kickstart your business journey in the United Arab Emirates.

Passport and residence proof: You'll need the original and a copy of the passport and residence proof for all company shareholders and representatives.

Director’s passport: A valid passport copy of the company's director.

Emirates ID: Provide an original and a copy of the Emirates ID for shareholders or representatives.

Trade license: You must have a valid trade license issued by the Department of Economic Development.

Articles and memorandum of association: These documents outline the company's structure and objectives.

Business plan: Include a business plan with details about your business activities, financial projections, and potential clients.

Information about business account activities: Provide information about the purpose and nature of transactions for the business account.

Incorporation certificate: A certificate proving the company's incorporation.

Bank statements: Submit the last six months' bank account statements for all company shareholders.

Company registration documents: Include documents related to the company's registration and incorporation.

Funding sources:Provide information about the sources of funding for your business.

Good standing certificate: A certificate demonstrating the company's good standing.

Reference letter: Include a reference letter from a business partner or partners.

Shareholders registry: Provide a registry of the company's shareholders.

Client list: Include a list of investors, current clients, and potential clients.

Keep in mind that the bank may request additional information and documents depending on your business and their discretion.

Things to consider when opening a business bank account in the UAE

If you're planning to start a business in the United Arab Emirates (UAE), congratulations! The UAE is a thriving hub for entrepreneurs, and setting up a business here can be a lucrative venture. However, before you dive headfirst into the world of entrepreneurship, there's a crucial step you need to take – opening a business bank account. In this article, we'll guide you through the key considerations when opening a business bank account in the UAE. Let's get started.

Choosing the right account type

The first decision you'll face is selecting the type of bank account that suits your business needs. The UAE offers a variety of account types, each catering to specific requirements. Here are some common types to consider:

Current account: Ideal for day-to-day transactions.

Savings account: Great for businesses looking to save while earning interest.

Foreign currency account: Useful if you deal with international transactions.

Business term deposit: Offers higher interest rates for locking in funds for a specific period.

Consider your business activities and financial goals when making this choice. It's important to find an account that aligns with your objectives and budget.

Understanding the bank’s policies

Before committing to a specific bank, take the time to understand their policies. Dive into their privacy policy, services offered, and account charges. Some banks might have hidden fees that could affect your business's bottom line.

Ask yourself questions like: Do they provide online banking services? Is there a mobile app for easy access? Are there any additional charges for ATM usage or transferring funds internationally? Knowing the answers will help you make an informed decision.

Consider the initial deposit

Starting a new business can be financially challenging, and every penny counts. Therefore, if you're launching a new venture, look for a bank that offers accounts with a low or zero average balance requirement. This way, you can minimize your initial financial burden and focus on growing your business.

Local or international bank?

You can pick either a local or an international bank. But if your business is new, it's smarter to go with a local bank because they have lower fees. Once you've selected your UAE business account, be sure to submit all the required documents for an easy application process.

To sum it up, business accounts in the UAE are accessible, and the eligibility criteria are relaxed. Well-regarded banks like RAK Bank, Emirates NBD, and ADCB (Abu Dhabi Commercial Bank) welcome entrepreneurs, making it easy to set up your account. But there's a catch – you'll need to meet all the prerequisites and provide a set of documents related to your business and its stakeholders. Don't worry, though. Opening a business account in the UAE is quick and efficient, especially with Banqmart on your side. Banqmart isn't just a financial partner; it's your guide for opening a bank account, applying for top-notch credit cards in the UAE, and securing personal loans. Once you've submitted all the necessary documents, the bank gets to work and activates your account within just a few business days. Your business has a bright future in the UAE, and Banqmart is your reliable companion on this exciting journey.

#opening a business account

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kenresearch1 · 10 months

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UAE Debt Collection Market is in the Growing Stage, Driven by Changing IT Policies and Documentation and Rise in Awareness Due to the COVID-19 Pandemic among the Population: Ken Research

Buy Now

The Collection Industry in UAE peaked right before and during the pandemic. Increased amount of lending along with rising defaults presents great opportunities for debt collection.

Covid Led Growth: COVID-19 pandemic bough certain challenges for debt collection agencies in terms of worsening the financial situation of debtors leading them to refuse paying their debts. However, it made the public more aware about the existence of debt collection services which motivated them to fulfil their debt obligations. Pandemic also increased the number of default accounts bringing more business for collection agencies and inducing growth.

Rise in Digital Collections: Debt Collection companies used to rely on phone-calls to make recoveries which led to terrible customer experience and wastage of time. Digital collections are being extensively used which leverages analytics to make the process more efficient and act as catalysts for the industry.

Interested to Know More about this Report, Request for a sample report

Growing focus on Regulatory Compliance: Debt Collection companies have started to place more focus on complying with all regulations for a better customer service. They are maintaining proper documents, getting cheques as proof for future payment and amending the penalty terms.

Changes in UAE Legal System: The new legal system at UAE makes it possible to recover debts via court in merely within 7 days if all the documents are readily available. The new Bankruptcy law also provided safety for debtors and changed the shape of debt collection industry.

Analysts at Ken Research in their latest publication- “UAE Debt Collection Market Outlook to 2027- Characterized by fierce competition and high growth prospects” by Ken Research provides a comprehensive analysis of the potential of the debt collection market in UAE. Rise in digital collection techniques and increasing use of AI and ML for recovery predictions are expected to contribute to the market growth over the forecast period.

UAE debt collection market is expected to grow at a robust CAGR over the forecasted period 2022-2027.

Key Segments Covered

Segmentation by Segment

Non-Finance

Finance

Insurance

Segmentation by Type of Firm

Debt Collection Agency

Law Firm

Segmentation by Age of Firm:

0 to 10 yrs

10 to 20 yrs

20 to 30 yrs

Segmentation by Geographical Presence

Abu Dhabi

Dubai

Fujairah

Sharjah

Ajman

Umm Al-Quwain

Ras Al-Khaimah

Sub-segmentation of insurance segment & financing segment

Sub-segmentation of insurance segment:

Motor & Transportation

Property/Fire

Liability & Others

Sub-segmentation of financing segment:

Real State

Personal

Financial institution

Services

Manufacturing

Trade

Others

Visit this Link :- Request for custom report

Key Target Audience

Existing Debt Collection Companies

Law Firms

Financing Companies

Non-Financing Companies

Insurance Companies

Debt Collection & Management software providers

Government Agencies

Finance Consultants

Others

Time Period Captured in the Report:

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022–2027

Companies Covered:

SUPPLY SIDE:

Debt Collection Companies

Tahseel

CMS

Aman Debt Collection

First Solution

Credit Recovery

AW Holding

Bilkish

Derby Group of Companies

Alpha Debt Collection

Fort Equity

Quick Action

ATDC

com

ALQADA

Law firms/Debt Collection

Taswiyeh

ASKTHELAW

HHS LAWYERS

DUBAI DEBT RECOVERY

STA

AL ROWAAD

AL SAFAR

BIN EID

Regulatory Bodies and Judiciary

Central Bank of the UAE

Judicial Department

DEMAND SIDE:

Insurance companies

Etihad Credit Insuranc

Atradiuse

CIGNA

COFACE

PACIFIC PRIME

MetLIFE

ACE

Emirates RE

Financing companies

Emirates NBD

ADCB

DUBAI FIRST

Mashreq

Commercial Bank of Dubai

Dubai Islamic Bank

HSBC

RAKBANK

ADIB

FAB

CITYBANK

Non-Finance companies

Etisalat

Emircom

Etihad Water and Electricity

Abu Dhabi Distribution Companies

Emaar

Nakheel

Lufthansa

Choithrams

Asian Paints

Majid UL Futaim

Naseej

Key Topics Covered in the Report

Global Debt Collection Market Overview

Ecosystem of UAE Debt Collection Market – Demand and Supply Side

Value Chain Analysis – Amicable Settlement and Litigation Settlement

Market Size and Segmentation of Debt Collection Industry in UAE, 2017-2022

UAE Debt Collection Market Industry Analysis

Software used in UAE Debt Collection Market

Market Shares of Major Debt Collection Companies in UAE on the basis of Debt Collected, 2022

Competitive Analysis

Future Outlook and Projections, 2022-2027

For More Insights On Market Intelligence, Refer to the Link Below: –

UAE Debt Collection Market Outlook to 2027

Related Reports by Ken Research

KSA Debt Collection Market Outlook to FY'2026

#UAE Debt Collection Industry #Market Ecosystem #Market Issues #Developments

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bestbusinesssetupdubai1 · 10 months

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Business setup in Dubai For Russian Entrepreneur

Dubai, the largest city in the United Arab Emirates, has become an attractive destination for entrepreneurs from around the world, including Russia. The city’s strategic location, business-friendly environment, and supportive government policies have made it an ideal place for Russian entrepreneurs to expand their businesses. In this blog post, we will provide a practical guide for Russian entrepreneurs for business setup in Dubai.

1. Choose the right business structure

There are three main types of business structures for foreign entrepreneurs in Dubai:

· Free Zone Company (FZCO): This type of company can be 100% foreign-owned and is set up within one of the many free zones in Dubai. Free zones offer tax incentives, simplified registration processes, and no restrictions on capital repatriation.

· Mainland Company (LLC): This type of company requires a local sponsor who holds at least 51% of the shares. The remaining 49% can be owned by foreign investors. Mainland companies can operate in any part of Dubai and can engage in a wider range of business activities.

· Offshore Company: This type of company is incorporated outside of Dubai but can still conduct business within the city. Offshore companies are often used for asset protection, tax planning, and international business.

2. Choose a suitable business activity

Dubai offers a wide range of business activities for foreign investors, including trading, manufacturing, professional services, and tourism. It is important to choose a business activity that aligns with your expertise and the market demand in Dubai.

Some popular business activities for Russian entrepreneurs in Dubai include:

· Import/export

· IT services

· Tourism and hospitality

· Real estate

· Retail

3. Obtain the necessary licenses and approvals

Depending on the type of business structure and activity you choose, you may need to obtain one or more licenses to operate legally in Dubai.

The most common types of licenses are:

Trade License: Required for trading, import/export, and retail businesses

Industrial License: Required for manufacturing, processing, and industrial activities

Professional License: Required for professional services, consultancy, and other service-oriented businesses

To obtain a license, you will need to submit an application to the relevant authorities, such as the Department of Economic Development (DED) for mainland companies or the respective free zone authority for free zone companies. You may also need to obtain additional approvals from other government departments, depending on your specific business activity.

4. Set up a corporate bank account

To operate your business in Dubai, you will need to open a corporate bank account. There are many local and international banks in the city that offer accounts tailored to the needs of foreign entrepreneurs.

Some popular banks for Russian entrepreneurs in Dubai include:

· Emirates NBD

· Mashreq Bank

· First Abu Dhabi Bank

· Dubai Islamic Bank

To open a corporate bank account, you will need to provide the bank with your company’s registration documents, proof of identity for the account signatories, and a business plan or financial projections.

5. Find office space

Depending on the type of business structure you choose, you may need to rent or purchase office space in Dubai. Free zone companies are generally required to have a physical presence within the free zone, while mainland companies can operate from any location in the city. There are many commercial properties available in Dubai’s business districts and free zones, catering to various budgets and requirements.

6. Hire staff

As a foreign entrepreneur, you may want to hire local or expatriate staff to help run your business. To do this, you will need to obtain work visas and residence permits for your employees. The process for obtaining these permits varies depending on the type of business structure you choose and the specific free zone or government department you are dealing with.

In conclusion, setting up a business in Dubai as a Russian entrepreneur can be a rewarding venture, offering access to a thriving market and numerous growth opportunities. By following the steps outlined in this guide and seeking professional advice when needed, you can ensure a smooth and successful business setup process.

#business #business services #business setup #business setup company in dubai #business setup consultants in dubai #business setup in uae #business setup services in dubai #businessinuae #businesssetup #businesssetupdubai

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soumyapanda28 · 11 months

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Best Banks within the UAE: A Comprehensive Outline

The Joined together Middle easterner Emirates (UAE) is famous for its prospering monetary segment, pulling in worldwide speculators and businesses looking for a steady and flourishing economy. With a plenty of neighborhood and international banks working within the locale, choosing the proper bank to cater to your budgetary needs can be a daunting task. This article aims to supply an outline of a few of the most excellent banks within the UAE, considering their notoriety, administrations, and client fulfillment. There are other striking money related teach within the UAE worth considering. These incorporate Rakbank, which is known for its personalized client benefit and inventive managing an account arrangements. Commercial Bank of Dubai (CBD) is recognized for its solid accentuation on technology and advanced managing an account headways. Additionally, Standard Chartered Bank, with its worldwide nearness and expertise, offers a wide extend of administrations custom fitted to both retail and corporate clients. Investigating these choices will assist you make an educated choice based on your particular budgetary needs and inclinations within the energetic UAE keeping money scene.

Emirates NBD: Emirates NBD is one of the biggest and most prestigious banks within the UAE. It offers a wide run of monetary items and administrations, counting individual managing an account, corporate managing an account, riches administration, and speculation keeping money. With its broad department arrange and innovatively progressed computerized keeping money arrangements, Emirates NBD gives comfort and openness to its clients. The bank incorporates a solid center on development, advertising a user-friendly portable managing an account app and progressed online keeping money stages.

First Abu Dhabi Bank (FAB): To begin with First Abu Dhabi Bank, shaped through the merger of National Bank of Abu Dhabi (NBAD) and To begin with Inlet Bank (FGB), is the biggest bank within the UAE in terms of resources. FAB serves a assorted client base and provides a comprehensive suite of keeping money administrations, counting retail keeping money, commercial keeping money, and speculation keeping money. The bank is famous for its strong framework, inventive computerized arrangements, and solid client benefit, making it a best choice for people and businesses alike.

Abu Dhabi Commercial Bank (ADCB): Abu Dhabi Commercial Bank is another conspicuous bank within the UAE, advertising a wide run of money related administrations to individuals, corporate substances, and government teach. ADCB centers on giving custom fitted arrangements and remarkable client benefit, guaranteeing client fulfillment at each step. The bank’s advanced managing an account stages and versatile apps are user-friendly and offer consistent exchange encounters.

Mashreq Bank: Mashreq Bank is one of the most seasoned and most solid banks within the UAE, having a solid nearness within the locale for over five decades. The bank offers a wide run of administrations, counting individual keeping money, commerce managing an account, and riches administration. Known for its mechanically progressed keeping money arrangements, Mashreq Bank gives imaginative administrations such as portable managing an account, contactless installments, and advanced wallets.

Dubai Islamic Bank (DIB): Dubai Islamic Bank is the biggest Islamic bank within the UAE and works in strict adherenceto Sharia standards. As a pioneer in Islamic keeping money, DIB offers a run of Sharia-compliant items and administrations to people and businesses. The bank centers on moral managing an account hones, advancing capable back and supportability. DIB’s computerized keeping money stages give helpful and secure get to to its customers.

Conclusion: The UAE gloats a strong managing an account segment, advertising a huge number of alternatives for people and businesses seeking financial administrations. Whereas the previously mentioned banks are among the best in the UAE, it is basic to evaluate your particular budgetary necessities some time recently selecting a bank. Consider factors such as notoriety, item offerings, client benefit, comfort, and advanced keeping money capabilities. By choosing the correct bank, you’ll be able guarantee a consistent and productive managing an account involvement within the UAE.

#Emirates NBD #Abu Dhabi Commercial Bank #Dubai Islamic Bank #Mashreq

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decaffeinatedfirelover · 1 year

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Emirates NBD Bank Company Market Analysis Report - Company Market size - Company profile

Emirates NBD Bank (Emirates NBD), a subsidiary of the Investment Corporation of Dubai, offers personal, private, business, and wholesale banking. Personal banking comprises accounts, cards, loans, overdrafts, life and non-life insurance, banking packages, foreign exchange, and supportive services. Emirates NBD Bank market analysis Emirates NBD Bank Company Profile

Private banking contains banking solutions, wealth management, and mobile banking services. Business banking includes business financing, banking solutions, and business banking packages. Wholesale banking provides transaction banking, corporate finance, institutional and international banking, global markets and treasury, and research. The bank has a presence in the UAE, Egypt, India, Saudi Arabia, Singapore, the UK; and representative offices in Turkey, China, and Indonesia. Emirates NBD is headquartered in Dubai, the UAE.

Subscribe to access Emirates NBD… interactive dashboard for 12 months get access to premium industry data, predictive signals and more

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recorporate · 1 year

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How to Set Up a Business in Dubai

The process of setting up a business in Dubai is very simple. However, there are a few things to keep in mind. It can be tedious and time-consuming with many processes and concepts that are important in a way that you need to know. Whether you decide to do the process on your own or hire an organization planning professional to speed up your planning, make sure you gets good advice on your decision making process. To help more than 60,000 entrepreneurs start a company, we have compiled the best tips on how to start a business in Dubai. When you want to start or open a company in Dubai, local company setup, set up business in Dubai free zone and guaranteed results, there is only one company that comes to your mind for starting a venture.

The Process of Business Set Up In Dubai

If you want to expand your business internationally, setting up a business in Dubai is a great option. Knowing the pros, cons and trends is important for investors. Undoubtedly, it is difficult for novice investors to understand the entire legal system. Therefore, to support the same, many professionals prefer to consult with other organizational professionals. For your convenience, here we have presented the process in a simple way.

The steps to follow are shown below:

1. Registering Your Business in Dubai

If you are setting up a venture in the UAE, you must first choose a business name. Start by contacting your local Free Zone or Economic Development Department; they will be able to tell you if your name has been accepted. UAE law states that company names must not violate public policy, do not need to be registered first, and must comply with the business and legal standards required by the business set up company in Dubai.

Once you have a name, you will need to apply for a business license. There are four categories in UAE land, such as company, professional, industrial and tourism. If you work in a free zone, you should contact the zone in question directly. It will depend on your activity.

2. Licenses and Permits

For the most part, you can get your business license from the Ministry of Economic Development or your local free zone. However, some companies may require special licenses. For example, manufacturing companies will receive approval from the Ministry of Finance and Industry, while the UAE Ministry of Health grants licenses to pharmaceutical and pharmaceutical companies.

3. Finalize the Type of Business Structure

The next step is to determine the type of legal entity, which depends entirely on the amount of capital and the number of shareholders.

4. Obtain the Necessary Approvals

The documents are submitted to the government agency, which makes the licensing decision. Check the papers twice and correct the spots if it is too full. The Ministry of Labor (MoL) also issues foundation cards in addition to business licenses.

5. Open a Bank Account

Once your documents are returned, you will have all the necessary documents to open your business bank account. Many banks, both domestic and international, have their headquarters in the UAE;

Emirates NBD

Abu Dhabi Commercial Bank

Commercial Bank of Dubai

Noor Bank, Emirates Islamic, Masreq, RAKBANK and Ajman Bank.

Global brands like HSBC, Citibank, and Barclays are also present. The best option for you will be determined by your specific needs. You will need a bank account before you can start your own business in Dubai.

Also read our blog about, 5 Ways to Increase Employee Productivity

6. Complete the Incorporation Paperwork

When you are considering starting a venture in Dubai, if you have arrived here, you have passed the most important decision. At this point, you'll want to take care of the proper paperwork. You will need to complete an application form for your company name and occupation, to be issued with a shareholder's license by the relevant authorities. Some free zones will require additional documents, such as a business plan or a Certificate of Approval (NOC) - a letter from your present sponsor stating that you are authorized to establish a new business in the UAE.

7. Ownership

As a foreign national, if you want to own 100% of your business, you must choose a license and location in one of the many free zones in the United Arab Emirates. There is a specific type of company that each area is free to do with clarity and the first step will help you find the best option. There are more than 45 free zones in the UAE with different types of services, so you will find many options to choose from.

Conclusion

With a thriving venture landscape helped by government incentives and the ease of setting up new businesses, the city of Dubai is an attractive challenge for the entrepreneurial dreamer. Dubai has its fair share of new social trends, but the city's hospitality and progressive, forward-thinking plans reward those with ambitions.

Opening a venture is overwhelming, but the big investment requires the help of the experts in the field at ReCorporate Business Setup Services. A team of experts can start your own company in less than a month. They also make obtaining licenses and other legal aspects easier. In case you need any assistance in setting up a business in Dubai, you may contact us on 971- 58-586-5477 and email us via [email protected].

Original Source: https://bit.ly/3FR4TGY

#Businesssetupdubai #businessstrategies #businessservices #businessservicesinDubai

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s-sania · 9 months

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#Emirates Nbd Business Bank Account Online in UAE from Indonesia

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emirates-nbd · 1 year

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Ways to Send Money Internationally with Emirates NBD

International Money Transfer has become easier in recent years with the emergence of technology and many digital banking options. Sending money abroad can be required for education, business, or tourism. Also, you may be working abroad and need to send money to your home country.

Some banks may let you remit money abroad for free if you bank with them, while others may charge you a fee. Knowing the best ways for international money transfer is helpful and can save you time, money, and effort:

Let’s look at some of the way you can send money internationally:

Wire transfers / SWIFT transfers:

Wire transfers are one of the most common methods to send money internationally. This involves a messaging network called SWIFT. Financial institutions and banks have a unique SWIFT code which is used when transferring funds between banks. Knowing your bank’s SWIFT code is important in order to facilitate payments smoothly. You can also use an IBAN. Here’s a helpful article on IBAN and SWIFT codes.

DirectRemit:

This is another form of international transfer which can be used to transfer money to your home country or internationally. EmiratesNBD’s DirectRemit only takes about 60 seconds to transfer your money.

Western Union and other exchange houses:

Money transfer services like Western Union provide a great way to transfer money quickly to your family, friends and business associates. Use Emirates NBD’s Western Union service via Mobile Banking or Online Banking, connecting over 500,000 agents and covering more than 200 countries. Learn more Emirates NBD’s Western Union service today.

Documents and accounts:

Transfers and payments are smoother if you have a bank account. Emirates NBD’s mobile banking lets you to transfer or receive money internationally with just a tap of a button. Here’s an article to guide you through transfers and payments.

Making the right choice

While there are multiple options to transfer money internationally, if you are not careful you might pay unnecessary fees and charges. Do your research and evaluate your options before making a choice. Read more about transfers and payments.

#international money transfer #best bank in uae #bank a #emirates nbd

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marketingshanakhan · 3 months

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Dubai's Top Offshore Bank Accounts

Top Offshore Bank Accounts

Finding the ideal bank account is essential to taking advantage of the many opportunities and financial services that an offshore bank account offers businesses. Let's examine some of the top offshore banks in Dubai where you can register for an account

Noor Bank:

This well-known international bank operates all over the world .Regular trade, keeping of assets, investing, etc., are permitted .It is allowed to have more than one currency account in an account .In the UAE, the account holder must be present.

Emirates Islamic Bank:

One of Dubai's top Sharia banks that accepts international transfers .This account type is corporate and has access to online banking. must be in the United Arab Emirates physically .It is acceptable to have an account with various currencies, such as AED, EUR, USD, etc.

Emirates NBD:

One of the best offshore banks in Dubai is Emirates NBD. This place allows for asset holding, investment, accumulation,

.You can use more than one currency. The cost of operations is average.

RAK Bank:

This well-known offshore financial institution permits cross-border transfers .a kind of corporate account that offers online banking .must be present in the UAE in person .Multiple currencies are accepted, including AED, USD, EUR, and others.

Commercial Bank International

is a well-known Middle Eastern bank that allows international transfers .Investments, consistent trading, asset keeping, and so on are permitted .The cost of operations is average .Account opening requires physical presence in the United Arab Emirates.

Conclusion

For more details visit our website https://aim-bc.com/

#business #offshore bank account #uae bank account #uae #dubai

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gauribhalekar · 3 years

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American Business Association,Inc builds innovative phenomena to encash exorbitant money online

The group is promoted by a seasoned ex techno banker Anim Akhtar Ali Khan with work experience of around 20 years in Banking , Professional Consulting, Core Management & International Strategy in more than 5 countries. Indian business magnate, technology specialist, banker, and philanthropist Anim is best known as the founder of PerPayment.com, Fundacle.com, HireKhan.com & ABACert.com.

During his career at major banks in India & Middle East he was heading technology department, Anim has vision for socio economic tech products, which would create jobs & enable access to funding for businesses worldwide.

Anim owns 100 % Ownership of PerPayment, HireKhan, Fundacle & ABACert.

With past working experience at management level in major banking technology players like BVQI, IndusInd Bank, Emirates NBD Bank Dubai, Masraf Al Rayan Bank Qatar, Neogrowth Credit NBFC India.

Anim with his team started this socio economic technology product journey around 10 years ago in feb’2010 the team identified for next two years from 2010 – 2012 gaps in the fintech ,outsourcing and business trust ecosystem.

We undertake to innovate and introduce new research based products and services. The goal is typically to take new products and services to market with global impact to fill the untapped market.

Based on 2 years research from 2013 to 2020, three products were complete with international level acceptance Fundacle -Fintech , HireKhan – HR Tech & ABAcert – Business Trust. The launch pad for all three products would be PerPayment.com

Our Business Model is through Country Level License Sale of Joint Venture Partnerships, Financial Consortium & Global Stake Sale in major countries across the world. We provide Framework and Operational Support to our JV partners and they Execute and Market it.

On sale of the Stake, we would accept directors from the investors and provide international audit of the company.

ABOUT AMERICAN BUSINESS ASSOCIATION INC

American Business Association, Inc. registered in United States undertakes to Innovate and Introduce new Research Based Tech Products and Services with Global Impact to fill the untapped market.

American Business Association is a conglomerate with businesses in HRTech, Fintech, Credit Rating and Business Consulting with separate companies.

With a new-age digital business model, ABA plans to expand in 180+ countries. The digital native has already developed platform cater to:

PERPAYMENT AD SELL Network

PerPayment is a launch pad for satellite products Fundacle, HireKhan, ABACert.

PerPayment is an advertisement program run by American Business Association Inc through which website publishers display text, images, video advertisements on their Website or Social Media Channels and generate revenue on a per conversion basis.

It enables small websites and businesses that do not have sufficient resources or other major sources of revenue to generate advertising revenue.

WELCOME TO PERPAYMENT.COM THE AD SELL NETWORK

The Simplest Way to Make Money Online through Website / App Monetization, Social Media Influencer Marketing & Ads Trading Platform.

Now Grow Your Money Online & Get Paid up to $ 299Per Conversion

So, How does it work?

§ PerPayment provides Ads for three major platforms

§ HireKhan.com , the AI based HR & Technology Outsourcing Platform

§ Fundacle.com, the Financial Networking Platform for FundSeekers & Investors

§ ABACERT.com , the Business Trust & Verification Platform

It’s Free. PerPayment AdSell Network as an alternate to Google AdSense provides avenue to advertisers to earn an extra income

You can give Text Ads, Image Ads & Video Ads on your website / apps. For every monetary deal on any of the three AdSell Network products by clicking on the Ads displayed on your website, App or social media channels, you will earn up to $ 299.

For Website Publishers:

Choose the Ad type that best suit you (Flash the names of the Ad Types on screen – Text ads, Image ads, Video Ads)

o Select the platform you wish to show Ads on your website / app & Click download code

o Copy the code on your server

o Deal Done

o Earn per Conversion

Earn up to $ 299on Per Payment Basis

It’s Free. PerPayment AdSell Network as a Social Media Influencer provides avenue to share on Social Media to earn extra income

For Social Media Influencers:

• Select the platform you wish to become influencer on social media

· Copy Paste the Code on all your social networking accounts like facebook, twitter…

• That All

• Earn per Conversion

Earn up to $ 299on Per Payment Basis

Investment in PerPayment AdNetwork Trading Platform to earn extra income

§ Display HireKhan, Fundacle or ABACert Ads on global AdNetworks

§ Select the platform you wish give paid Ads on Global AdNetworks like Google, Facebook, Twitter Ad

§ Hire Dedicated PerPayment Account Manager who will configure your ads & be your point of contact

§ Once Ads are configured, Recharge the Global AdNetworks yourself based on your budget

§ Earn per Conversion

You can track every impression & payment in View Income Analytics in PerPayment Dashboard

Earn up to $ 299on Per Payment Basis

Make Money & Create Social Avenues on Job, Funding & Business Trust.

PerPayment is an opportunity for Website / Apps rejected by Google AdSense and Not happy with the income so made, Philanthropists, Government, Semi Government, Corporates, Mutual Funds, SME, MSME to monetize

PERPAYMENT – GROW WITH US

For further information please view PerPayment Product Video - https://www.youtube.com/watch?v=NtZFPftFKac

For PerPayment Revenue Model please view PerPayment Revenue Model Video - https://www.youtube.com/watch?v=bFw6mpRw_fo

PerPayment Advantages

- An Alternate to Google Adsense

- An Ads Trading Platform which can be collaborated with Top 10 Ad Platforms like Google Ads, Facebook Ads etc.

- Avenue for Advertisers to generate more revenue

- Opportunity for Investors for diversification of Funds

- Tool for Jobs & Funding avenue creation in Covid-19

- Tool for Covid-19 Bulk Supplier Verification and Legitimate Businesses and Websites

Per Payment Ads Products

HireKhan

In fact as a CIO of a bank in Anim’s past experience, he faced certain issues with service delivery by major IT Vendors which at that point he wanted someone to fix. And Like they say that Solutions come from Problems – Innovations are born out of Gaps in the existing scenario and hence the Birth of HireKhan took place giving a vent into 850 Job Industries worldwide WITH A BIGGER AIM TO MAKE A PRODUCT THAT HAVE A SOCIAL AND ECONOMIC IMPACT ON THE SOCIETY.

HireKhan is a complete package for all Outsourcing and HR Requirements, available in 12 International Languages.

Today everything is available online from a needle to an apartment and the reason online platforms are booming is because of their accessibility 24/7, convenience of logistics and flexible hassle-free buying. So same customer satisfaction and convenience in collaboration with the latest AI Powered technology, we are trying to incorporate with respect to outsourcing of Manpower, BPO and IT Projects.

Then we have created the Online Platform for Candidate background verification called the HK CV wherein, a unique customized weblink is created per candidate and on just a click of a button, a complete authentic background report will be out for a person. And the kind of disruptive pricing plans we are coming up with, it will be a breakthrough in the employee verification segment.

Thirdly, we have the Job Portal for Employers where Employers can do a very refined Candidate Search and Job Postings which is integrated with the HireKhan Job seeker mobile App – Live on Android and iOS.

Now here again, we are bringing the world a lot closer. This is going to be a global platform for employers and job seekers. So anybody looking for a job anywhere in the world - right from a Security Guard to a CEO and vice versa, - HireKhan Job Portal and Job Seeker App will be a one stop shop. The App is going to be in 12 major international languages and Plus Hindi with special categories for women to work from home, ex Defence and Retired personnel and differently abled people.

HireKhan is the only DOT COM gateway to India for its highly efficient and cost effective availability of talent which is also an untapped market for many countries where quality IT Services have not yet reached.

The HireKhan.com Package is designed to create jobs locally in the country of JV launch and provides gateway to world's best technology data bank -‐ India, Ukraine, Malaysia etc. Besides, this will also bring foreign investments.

HireKhan Manpower Product Video - https://www.youtube.com/watch?v=dClYjursp48

HireKhan BPO Product Video - https://www.youtube.com/watch?v=4I_ZuTWGLeY

HireKhan Projects Product Video - https://www.youtube.com/watch?v=Bhk1Ee4DaIY

HIREKHAN PACKAGE

Fundacle

Welcome to Fundacle, World’s No.1 Investment & Funding Marketplace

A Financial Networking Platform With Unlimited Opportunities, Creating the best environment ever for new business ventures to kick off

and existing business to expand and grow which would enhance the global financial ecosystem by helping innovators and businessmen to arrange money for new ventures or for business expansion and investors to find the right business proposals for funding

Now fundseekers can put the first proposal for free and Realize their dreams at no cost while Investors access up to Four logins per day at zero registration fee

With the introduction of Global Business Plan Account Number (BPAN) System, standardized business proposals are available for the investors or banks to view at just a click of a button.

With such a platform like facebook for financial networking, entrepreneurs and investors across the globe could connect to each other and create endless opportunities

This was the idea behind Fundacle.com

World’s No.1 Investment & Funding Marketplace which will bring Innovators, Businessmen, Business sellers, Fundacle agents and Investors on a single financial Networking Platform

So, How does it works?

People who want to start a new venture, grow their businesses or even sell their business can post well planned business proposals and showcase to investors from One hundred and Ninety Five Countries and Eight hundred and fifty verticals across the world and will stand a better chance to get funded

Investors can find better business proposals options from eight hundred and fifty plus Business verticals

Our Fundacle agents would help people in creating business proposals or arranging funds

Companies can make money by distributing Fundacle.com coupon codes to their existing Ad campaigns, Products or social media

Fundacle is available world-wide through website and global app

Now everyone across the globe get to be a part of mainstream Global Financial Ecosystem. Realize your dream venture with access to local and international investors and get the right business proposals to make better decision on funding

Fundacle – our tribute to this great spirit of humanity

FUNDACLE PACKAGE

Fundaclce Product Video - https://www.youtube.com/watch?v=zEI6Gz6-yug

ABACERT

Welcome to ABACERT.COM The Business Trust & Verification Platform

A Global Business & Website Verification Agency that validates the Legitimacy of an Individual, a Business or a Website.

ABACERT - Your Partner in Building Brand & Trust

Business ABA Number, is a recognized Standard for Business Identification. Widely used by Business Customers, Vendors and Suppliers to review a Company’s Business Credit Profile.

ABA Number provide unique 9 Digit Number assigned to a business post verification of all company documents.

With ABA Number for Business Verification, get your Company’s Unique International Identity Validate Company Credentials @ABACERT and Instill Confidence in your Business Partners/Investors with Business ABA Number

Validate your Individual Credibility with Individual ABA number, A Unique Identifier for Proprietors

Also, if you want to find out the current operational status of your suppliers or business partners, get in touch with us for a Bulk Supplier Verification.

Now Abolish Fraud or Blacklisted Suppliers Safeguard your Payments with Bulk Supplier Verification @ABACERT

Not only this, now you can also increase your Website Conversions with the ABACERT Site Trust Seal Validate your Website & Convert Visitors into Buyers.

Establish Website Credibility & Grow Your Business Online

Get your company’s unique international identity with ABACERT – Your Partner in Building Brand & Trust

ABACert Product Video - https://www.youtube.com/watch?v=BldUaS4ahZg

Group Business Model

Our Business model is to operate world-wide through country level Joint Venture Partnership. The joint venture license sale could be a 5years, 10 years on(or) lifetime validity, wherein we provide a complete hand holding, operational support and framework to our JV Partners while our JV partners execute and market it.

The ABA Joint Venture Partner will take the complete ownership of the ABA’s various Tech Product verticals viz a viz the fundacle.com - A Fintech Platform for Fund Raising, HireKhan.com - HR Tech Platform for Outsourcing, abacert.com – a Business Credit Rating and Certification Platform.

PerPayment Revenue Model Product Video - https://www.youtube.com/watch?v=bFw6mpRw_fo&t=6s

Stake Sale

PerPayment / Fundacle / HireKhan / ABACert company stake can be purchased by any Corporate / Government / Philanthropist.

We are looking to sell maximum 25 % Stake in below products with stake sale price mentioned in US Dollars

Legal Entity Name - Product

Stake Sale Price

American Business Association Inc – AdSell Network

25 % Global Stake for $ 140 Million

Fundacle Inc – Fintech Platform

25 % Global Stake for $ 100 Million

HireKhan Inc – HR Tech Platform

25 % Global Stake for $ 80 Million

ABACert Inc – Business Trust Platform

25 % Global Stake for $ 65 Million

#hr tech #fintech #business trust #earn money online #artificial intelligence

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banqmart · 2 years

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List of Banks in the United Arab Emirates - Top Banks in Dubai

The UAE Central Bank is the primary financial regulatory authority in the country. There are 22 local and 30 foreign banks in the UAE. Larger banks dominate the country’s banking industry open new bank account, with the five biggest banks accounting for about 60% of the sector’s assets.

Islamic banking includes eight full-fledged Islamic banks and 23 Islamic windows set up by conventional banks in the UAE, collectively accounting for 19% of the total banking sector assets.

There are four types of banks in the UAE:

Commercial banks

Industrial banks

Merchant banks

Islamic banks

According to Moody’s, the UAE banking system is stable due to the expectation that Abu Dhabi’s fiscal strength will remain resilient to downside risks to the oil market posed by global pandemic developments and management, given the vast size of Abu Dhabi’s financial buffers and the government’s track record at adjusting to worse-than-earlier expected environments.

For anyone considering a career in banking in the UAE, this list of top banks in the UAE is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The Top Banks in UAE are:

First Abu Dhabi Bank (FAB)

First Abu Dhabi Bank (FAB) is the largest banking group by assets in the UAE. It is headquartered in Dubai and employs 5,451 staff. Together with its subsidiaries, FAB provides various banking products and services in the United Arab Emirates, Europe, the Americas, the Middle East, Africa, and the Asia Pacific.

The company operates through Corporate and Investment Banking and Personal Banking Group segments. FAB acquired First Gulf Bank in December 2016.

Net income: AED 10.56 billion (2020)

Total assets: AED 940.75 billion (3/2021)

Emirates NBD

Emirates NBD is the second-largest banking group by assets in the UAE. It is headquartered in Dubai and employs 9,000 staff. The bank currently manages 915 branches and 4,029 ATMs and SDMs in UAE and overseas. It operates through different business segments: Retail Banking and Wealth Management, Wholesale Banking, Islamic Banking (IB), International, and Information Technology and Operations.

Net income: AED 6.96 billion (2020)

Total assets: AED 695.06 billion (3/2021)

Abu Dhabi Commercial Bank

Founded in 1985, Abu Dhabi Commercial Bank provides retail, commercial, Islamic banking, and other financial services. The bank operates through the following business segments: Consumer Banking, Wholesale Banking, Investments and Treasury Banking, and Property Management.

The bank employs 5,000 staff and is headquartered in Abu Dhabi. It serves customers through a network of 72 branches and approximately 450 ATMs in the United Arab Emirates. It merged with Union National Bank in 2019.

Net income: AED 3.81 billion (2020)

Total assets: AED 395.82 billion (3/2021)

First Gulf Bank

First Gulf Bank was established in 1979 and is headquartered in Abu Dhabi. The bank‘s business segments include Wholesale Banking Group, Treasury and Global Markets, Consumer Banking, Real Estate, and Other Operations. It employs around 1,400 individuals and is present in 19 countries, including Kuwait, China, the UK, France, Malaysia, Bahrain, Sudan, Hong Kong, Switzerland, Lebanon, Labuan, Oman, Egypt, USA, Jordan, Brazil, and India.

In 2016, the bank’s total assets amounted to US$66 billion and net profit reached US$1.65 billion.

Dubai Islamic Bank

Dubai Islamic Bank came into existence in 1975 and is headquartered in Dubai. The bank operates through its Consumer Banking, Corporate Banking, Real Estate Development, Treasury, and Other business segments. It serves around two million customers and maintains 66 branches across the UAE.

Net income: AED 3.29 billion (2020)

Total assets: AED 291.71 billion (3/2021)

Mashreq Bank

Headquartered in Dubai, Mashreq Bank was founded in 1967, making it one of the oldest banks in the UAE. The bank is a joint-stock company and is an associated company of the HSBC Group. It provides retail banking, commercial banking, investment banking, Islamic banking, brokerage services, and asset management services.

The bank operates around 45 domestic branches and 20 international branches and is present in Egypt, Qatar, Kuwait, and Bahrain. It currently employs around 4,000 staff.

#bank accounts #open bank account online #how to open bank account online

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