Opening a business account in the UAE
The United Arab Emirates (UAE) is one of the most attractive jurisdictions in the world for entrepreneurs and international business. With a stable financial system, a business-friendly environment and no income or profit taxes in a number of areas, the UAE offers a strategic base for global operations.
If you are planning to start or expand a business in the Emirates, one of the first steps will be to open a corporate bank account in the UAE .
Below is a simple step-by-step guide to help you navigate the process without delay.
Step 1: Register a company in the UAE
To open an account, the company must be officially registered. There are three options:
- Company in mainland (license from the Department of Economic Development)
- Company in a free economic zone (one of 40+ free zones)
- Offshore company (eg in JAFZA or RAK ICC, although banking options are limited here)
After registration you will receive key documents:
- Trade License
- Certificate of Incorporation
- Memorandum & Articles of Association
- Shareholders and Directors’ Resolutions
Without these documents, the bank will not consider your application.
At Fidustria , we check and prepare all corporate documents in advance — to eliminate errors and save your time.
Step 2: Choose the right bank for your business needs
The UAE banking sector includes both local and international banks, including:
- Emirates NBD
- First Abu Dhabi Bank (FAB)
- Mashreq Bank
- RAKBANK
- HSBC
- Standard Chartered
The choice of bank depends on:
- Type and jurisdiction of the company (mainland or free zone)
- Minimum balance required (from AED 25,000 to AED 500,000+)
- Citizenship of shareholders
- Expected volume of transactions and risk profile
Fidustria can help you find the bank or EMI that best suits your business, its schedule and operational goals.
Step 3: Prepare the necessary documents
UAE banks strictly adhere to compliance and customer verification requirements. You will need:
- Trade license
- Share Certificate
- Charter and constituent documents
- Copies of passports of shareholders and signatories
- Resident visas (if any)
- Emirates ID (for UAE residents)
- Proof of address of shareholders (e.g. utility bill)
- Company structure (if part of a group)
- Business plan and invoices/contracts from potential clients
- Documents on the origin of funds and capital
The Fidustria team ensures that all documents are prepared, translated (if necessary) and submitted correctly — without delays or returns.
Step 4: Interview with the bank or KYC call
All major UAE banks require at least one face-to-face meeting or video call with shareholders or authorized persons of the company. This is necessary for:
- Understanding the essence of business
- Checking the identity of shareholders
- Estimates of the type and volume of expected transactions
Fidustria minimises the need for physical presence and, where possible, organises remote interviews.
Step 5: Account approval and activation
Once approved, you will receive an IBAN and access to online banking. You will then be able to:
- Make a minimum deposit
- Order debit/credit cards
- Open multi-currency accounts (AED, USD, EUR, etc.)
- Start working with clients and partners
The term of opening an account usually ranges from 2 to 6 weeks , depending on the bank and the specifics of the business.
Full preparation of documents from the very beginning is the key to a quick result.
Fidustria accompanies you at all stages — from company registration to full account activation — with maximum comfort, speed and compliance with all UAE bank requirements.