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UAE residents require the following documents to open a current or savings account:
Clever Corp Business Advisors can help you open your bank account in Dubai. Contact us today for expert guidance.
Non-residents are generally only eligible to open a savings account. In addition to the above documents, non-residents may need to provide:
To ensure compliance and facilitate non-residents in maintaining bank accounts in the UAE, the request for additional documents is a standard procedure. Opening a non-resident savings account might be a slightly lengthier process due to additional document requirements. Mobile banking is also an option for bank account opening in Dubai.
Opening up a corporate bank account in the UAE is a prerequisite to establishing a business because the UAE law prohibits conducting business with a personal account. Corporate accounts are typically current accounts to handle a large volume of transactions. Opening a business bank account in Dubai usually takes two to four weeks. Some of the many requirements to open a business bank account in Dubai include:
It’s important to note that the documents required may vary depending on the chosen bank and the type of company.
For any business or investor looking to operate in the UAE, opening a bank account is a vital requirement. We provide a seamless experience in bank account opening in Dubai for your business through our expert assistance. Our network with various banks allows us to help all types of companies open a bank account in the UAE. Banks in the UAE and around the world have different requirements in terms of documents, minimum or average balances, etc. Based on the client’s requirements, we offer advice and assistance in connecting them with the right bank that suits their needs.
In case the requirement is to open an Islamic account, we suggest Emirates Islamic or RAK Islamic account. If the requirement is for conducting investment or foreign trade, then we suggest Al Masraf. If you are looking for a conventional type of account, then there are various options like ENBD, Mashreq Bank, First Abu Dhabi Bank, National Bank of Fujairah, Union National bank, and ADCB etc. The timeframe to open account is based on various factors such as the nature of business, domicile of operation (Free Zone/ Offshore or Mainland) and nationality of signatory. For instance, in the mainland, General Trading activity requires compliance approval before you can open an account This is why it takes more time to opening a business bank account in Dubai, UAE.
A combination of these different factors can affect the time frame. For a normal trading company in the mainland with all necessary documents in place, it normally takes 10 working days to open an account.
Yes, but the requirements may vary depending on the bank.
The account opening process typically takes around two weeks, but it can vary depending on the bank.
Yes, most banks require an initial deposit to activate your account.
Yes, there are fees associated with opening and maintaining a bank account. The fees vary depending on the bank and the type of account.
Yes, many banks offer accounts in different currencies. However, you’ll need to check with your chosen bank for the available currency options.
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