Opening Company Bank Account in UAE

The United Arab Emirates (UAE) is known for its financial industry and the elevated level of security the banks give their customers. The development of privately owned businesses and a Zero percent tax rate has transformed the monetary scene of the UAE. Generally, it offers a proficient financial framework for organizations to work and contribute to the monetary development of the nation.
The nation has attracted many business owners to invest in the land of Dubai, UAE. This led to open bank accounts for corporate. These companies manage their entire financial transactions through a corporate bank account. However, the banks also welcome individuals to open and maintain an account. Opening a company bank account in UAE for business has a particular procedure to follow.

Steps To Open a Corporate Business Bank Account in UAE

Generally, if you own any business or a registered branch or subsidiary company, you need to have an active business account. Opening a business bank account in Dubai is available for Free zone companies and offshore companies. Additionally, the requirement to open a bank account varies from bank to bank. Here are the steps you must follow while opening a business/ company bank account in the UAE.

Fill out an Account Opening Form:

The banks will provide you with an account application form which is supported by several documents. Accordingly, you need to attach various documents that prove the existence of the business.

Requirements (Documents to be attached)

  • The passport and residence visa of the company’s shareholders and directors
  • Copy of the Emirates ID card
  • Passport copy of the company director
  • Existing business contracts
  • Reference letters from business partners
  • Documents related to Business plans
  • Certified company incorporation documents
  • finally, any other document required by the bank

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