AMR Global services
How To Open a Business Bank Account In UAE
Building relationships with banks and other financial institutions is probably the most important stage in the company registration process. At AMR, we have long-standing experience working with local banks and a large number of successful cases
Starting the Account Opening Process Even Before Registration: AMR’s Proactive Approach
At AMR, we believe that proper business structuring is already half the battle won. That’s why we start working on opening your business account even before your company’s official registration. Yes, you read that right!
Our approach to business structuring is rooted in the principle of maximizing transparency. We always recommend our clients opt for the right types of business activities and jurisdictions within the UAE, keeping the ownership structure as simple as possible. This strategic planning helps in fostering straightforward and compliant operations.
As part of our diligent process, we thoroughly check our clients for PEP (Politically Exposed Persons) status, adverse information in public sources, and any listings on sanction lists. We discuss potential challenges that might arise during communications with banks well in advance. This proactive preparation ensures smoother interactions and fewer surprises down the line.
Understanding regulatory requirements and the risk appetites of banks is a key aspect of our service. We believe that transparent and trustworthy relationships with banks are the cornerstone of a successful account opening process. Our team is well-versed in navigating these complexities to provide our clients with the best possible outcomes.
At AMR, we are committed to guiding you through the intricacies of business structuring and account opening, ensuring that you are set up for success from day one.
Our approach to business structuring is rooted in the principle of maximizing transparency. We always recommend our clients opt for the right types of business activities and jurisdictions within the UAE, keeping the ownership structure as simple as possible. This strategic planning helps in fostering straightforward and compliant operations.
As part of our diligent process, we thoroughly check our clients for PEP (Politically Exposed Persons) status, adverse information in public sources, and any listings on sanction lists. We discuss potential challenges that might arise during communications with banks well in advance. This proactive preparation ensures smoother interactions and fewer surprises down the line.
Understanding regulatory requirements and the risk appetites of banks is a key aspect of our service. We believe that transparent and trustworthy relationships with banks are the cornerstone of a successful account opening process. Our team is well-versed in navigating these complexities to provide our clients with the best possible outcomes.
At AMR, we are committed to guiding you through the intricacies of business structuring and account opening, ensuring that you are set up for success from day one.
Required documents for opening a corporate account in the UAE
- The company's business profile, describing the essence of the business, projected revenue, planned transactions, buyers and suppliers
- Company documents (license, MOA, AOA, certificate of formation)
- Website
- Phone in the UAE
- Passport (UBO and General Manager)
- EID (UBO and General Manager)
- Visa (UBO and General Manager)
- Tenancy contract (UBO and General Manager)
- CV (UBO and General Manager)
- Leasing agreement
- Bank statement (Documents confirming the origin of funds)
- Contracts and invoices (Signed or drafted)
*If the owner of the company is another legal entity, then it will be necessary to collect documents on it as well
Required documents for opening a personal account in the UAE
- Passport
- Emirates ID
- Salary certificate
- Phone in the UAE
- Tenancy contract
For investor visa holder
- Documents confirming the origin of funds (bank statements)
FAQ about opening an account in the UAE
If you haven't found the answer to your question, just contact us
It usually takes around 1 to 7 days to open a personal bank account in Dubai. It usually takes a little longer to open an account for an investor's visa, rather than an employee's.
This typically takes around 2 to 5 weeks to open a corporate bank account in the UAE. The time to open an account depends on the complexity of the application - the type of business, ownership structure, and beneficiary profile.
In the vast majority of cases, the bank will refuse to consider an application for opening a personal account for non-residents. The exception is HNW clients who are willing to maintain large balances or purchase investment products.
The requirements vary depending on the bank and the customer profile. Usually, we are talking about account balances of 100-300 thousand dirhams. Some banks are ready to open an account without agreements on maintaining balances. For the bank, attracting a new client involves risks, and attracting balances is one of the few predictable sources of income.
In this case, it is necessary to provide the bank with a description of the business model, provide a list of potential buyers and suppliers. Submit a draft of your contract with the buyers. The more understandable and transparent your business model is, the easier it will be for the bank to approve it.
No, it is not allowed to use your personal bank account for business operations in the UAE.
This stage is mandatory and necessary for the identification and verification of the client (the signatory in the case of opening a corporate account). Even if the application is submitted remotely, the final step before activating the account or receiving a bank card will be a meeting with a representative of the bank.
Opening an account is a critical step for any new business in the UAE. Our experience allows us to analyze the application, choose the best solution, prepare the necessary documents and receive preliminary approval from the financial institute.
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