Overview
Buying out liabilities from one bank to another bank is called Other bank buyout. It is possible in secured as well as unsecured loan depending on your business profile.
Eligibility Criteria
- A company should be minimum 1 yr old.
- There should be a business set-up.
- There should be an active company account.
Mandatory Requirements
- A valid copy of Passport, Resident visa, and Emirates ID of all the partners.
- Trade license.
- MOA or AOA.
- Liability letter from the bank.
- 6 months bank statement of the company account.
- Tenancy Contract.
- 3-5 Sales and purchase vouchers.