Business Bank Account in Dubai, UAE
We at BizLinks strive to open a bank account in Dubai as simple as possible. We can help you manage your finances in this dynamic city, whether you’re a business or a resident..
Open Business Bank Account in Dubai, UAE?
The UAE proved to be an extremely successful base of operations for numerous enterprises. Considering how long the economy has been expanding, launching a firm in Dubai makes sense. One of the most important things a new firm should do is register an online business bank account in Dubai. Still, opening a bank account in the United Arab Emirates is not an easy process. A bank account must be opened in accordance with certain guidelines. You can communicate with our banking specialists to streamline the procedure.
Business Bank Account Services Made Easier with BizLinks
Choosing the right corporate banking service provider for your entity is a critical decision, and there is a broad range of local and international banks to choose from in the UAE or any country you wish to operate.
BizLinks is a trusted name when it comes to reliable corporate banking services in the UAE. We offer comprehensive assistance to businesses looking to open a company bank account in the United Arab Emirates (UAE). We understand the crucial role that a business bank account plays in managing financial transactions and ensuring smooth operations.
Our team of experienced professionals is well-versed with the local banking regulations and can provide you with tailored solutions for opening a business bank account that meets your specific requirements.
Expert Guidance
Our expert team who are mostly ex-bankers have the domain knowledge and expertise to quickly review your case and provide sound
advice on selecting the right bank.
Documentation preparation
With 20 years of experience in corporate banking, our inhouse team will assist you in
compiling all the documents required.
More than 15 Banks
We work with more than 15 banks in the United Arab Emirates, and we are familiar with their regulations and standards for each product.
Banking Profile Creation
Professional Banking Profile in full compliance with the requirements of banking KYC-procedures (source and volumes of incoming and outgoing payments, customers and suppliers, expected account balances, interest in other banking products, etc.)
Time Saving
With us, you get a hassle-free process while opening a business bank account in Dubai.
Relationship Management
Throughout the account opening process, we keep you updated on the stages and make sure all your requests are addressed.
Basic Requirement in Order to Open
your Bank Account in the UAE
Documents required to Open a Personal bank account in UAE:
- Passport Copy.
- Emirates ID.
- Tenancy Contract.
- 6 months account statement.
Documents required for Business bank account:
- Valid Trade License.
- Memorandum of Association.
- Certificate of Incorporation / Formation ( for Free zone licenses ).
- Share Certificate ( for Free zone licenses ).
- Business Ejari ( for mainland licenses ).
- Office Lease Agreement ( for free zone licenses ).
- All Shareholders Passport and Visa page copy.
- All Shareholders Emirates ID (if Resident in UAE).
- Tenancy Contract, Utility bill for address proof.
- CV/ Resume and company profile.
- 6 months account statement of personal and company account.
Simple Steps to Open Your Dubai Bank Account
Selecting the best bank for your needs is an important step that many people forget to do when starting a business. It’s critical to investigate the qualifying requirements established by various banks in order to select one that best suits your needs. A UAE local address and a resident visa are usually required by the majority of banks in Dubai. It’s also critical to take into account the chosen bank’s continuing minimum balance requirements.
Choose Your Bank: Select a bank based on your needs. We can assist you in selecting the best one based on costs, features, and ease of access.
Gather Your Documents: In order to begin the process of opening a business bank account in Dubai, some paperwork needs to be submitted. These records, which include contracts, invoices, and information about your company’s customers and suppliers, serves as proof of your firm. While each bank may have a different list of specific requirements, the following are frequently needed in order to open a corporate bank account:
- Copy of the Emirates ID card.
- Company Trade License.
- Certificate of Registration.
- Lease Agreement.
- Passport copies for shareholders and authorized signatories.
- Company Memorandum & Articles of Association.
The names of the suppliers, the buyers, and the shareholders’ bank statements from either their home nation or the United Arab Emirates (if appropriate) must also be provided. Following these documentation guidelines guarantees a quick and easy business bank account creation procedure in Dubai.
Submit your application: Fill the application form provided by the bank and submit the same to proceed with the process.
Initial Deposit: Some accounts may require an initial deposit. Make sure you have the necessary funds ready.
Approval and Activation: The bank will review your application. Once approved, you’ll receive your account details and any necessary cards or Cheque books.
Frequently Asked Questions
You can open various types of bank accounts in Dubai, including current accounts, savings accounts, business accounts, fixed deposit accounts, and multi-currency accounts.
The best bank for business accounts in the UAE will depend on you and your company’s needs. The services and fees of each bank are different from the other. This is where you can seek expert help and get started.
The time it takes to open a bank account can vary based on the bank, your documentation, and the type of account. On average, it may take a few days to a week.
Non-residents, including tourists, can open a bank account in Dubai, but the process and requirements may differ. Most banks require a UAE residence visa for non-residents.
Every bank has a different policy on minimum balance. Some bank needs a minimum balance (say 10,000 AED) and some charges a monthly rental amount on zero balance.
The cost of company bank account setup differs depending on the bank you choose. In order to get an estimate, enter your details in our cost calculator and get started.