Opening a business account in the UAE
The United Arab Emirates (UAE) has become one of the most attractive jurisdictions for entrepreneurs and international business. With a stable financial system, a favorable business environment, and the absence of income and profit taxes in many areas, the UAE is a strategic base for global operations.
If you are planning to open or expand a business in the Emirates, one of the first steps will be to open a corporate bank account in the UAE .
Here is a simple 5-step guide to help you get through the process without any delays.
Step 1: Register a company in the UAE
To open a bank account, a company must be officially registered. You can choose one of three formats:
- Mainland company (licensed by the Department of Economic Development)
- Free zone company (one of 40+ free zones in the UAE)
- Offshore company (e.g. in JAFZA or RAK ICC, although banking options are limited)
After registration, you will receive key documents:
- Trade License
- Certificate of Incorporation
- Memorandum & Articles of Association
- Shareholders and directors’ decisions
Without these documents, the bank will not consider the application.
At Fidustria , we ensure the completeness and correctness of the corporate package even before the banking procedure begins.
Step 2: Choose a bank that meets your business needs
The UAE banking sector includes both local and international banks:
- Emirates NBD
- First Abu Dhabi Bank (FAB)
- Mashreq Bank
- RAKBANK
- HSBC
- Standard Chartered
Each bank has its own criteria for opening accounts. The choice depends on:
- Company jurisdictions (mainland or free zone)
- Minimum account balance (from AED 25,000 to AED 500,000+)
- Citizenship of shareholders
- Risk profile and anticipated transactions
Fidustria helps you choose the best bank or EMI based on your business, schedule, and transaction requirements.
Step 3: Prepare a complete package of documents
Banks in the UAE pay special attention to compliance and checks. You will need:
- Trade license
- Share Certificate
- Company founding documents
- Copies of passports of shareholders and signatories
- Resident visas (if available)
- Emirates ID (for UAE residents)
- Proof of shareholders’ address (e.g. utility bill)
- Company structure chart (if part of a group)
- Business plan and documents from potential clients (invoices, contracts)
- Documents on the origin of funds
The Fidustria team ensures the proper preparation, translation, and execution of all documents to reduce the risk of rejections and delays.
Step 4: Bank interview or KYC call
All major UAE banks are holding a mandatory in-person or online meeting with shareholders or authorized signatories to:
- Explaining the nature of the business
- Checks on shareholder information
- Analysis of expected volume and types of transactions
Fidustria helps minimize the need for physical presence and organizes remote interviews whenever possible.
Step 5: Get an IBAN and activate the account
After the application is approved, the company will receive account details and access to online banking. You will be able to:
- Deposit minimum balance
- Order a debit/credit card
- Open accounts in different currencies (AED, USD, EUR, etc.)
- Start working with customers and suppliers
The time frame for opening an account depends on the bank and the company’s activities – usually from 2 to 6 weeks .
Having documents ready at the start is the key to quick application processing.
Fidustria provides full support at all stages — from company registration to account activation — with maximum comfort, speed, and compliance with the requirements of UAE banks.