Things to consider opening a bank account in Dubai to ease your business needs


Dubai stands in the top position to bring investor-friendly business centers and it has the most diversified economy.   like all industries, business setup in Dubai, financial and basic tax transfers play a significant role in business growth.

 Opening a bank account in Dubai helps investors and buyers with hassle-free bank transactions and they provide a customer-friendly platform for all business needs in Dubai. Company setup in Dubai is not an easy task, you have to work a lot on completing complex things in your checklist. T It requires started to understand but there are several grounds to guarantee that before approaching your bank consultants you had in just order.

Advantages of Opening a bank account in Dubai

1. you can maintain a highly confidential account    

2. Accurate and hassle-free  payment services 

3. Low upkeep revenues are estimated 

4. Online transactions are easily done

 5.   Fast and reliable transactions

Steps for opening a bank account in Dubai



  • Business License Requirements
You cant open a bank account in Dubai without a valid license for your business and you were not allowed to access your bank account. Firstly, take the move on applying for a license. Make a plan of your business activities and decide what all you need to set up and business form. After completing all your initial paperwork. You can proceed with the opening of your corporate bank account once your business license

  • Documents needed for bank account opening

Nevertheless, most investment banks, also as a general rule, Supporting documents needed by each bank will different from one other. You have to make sure the company's records are legally accepted by banks in Dubai. You need a bank account opening application printed form a resolution sanctioning the bank account by management board     Copies of business license, business share certificates, MoA(memorandum of association), and article association. Finally, passport copies of all business shareholders. Additional supporting documentation may also be required by certain banks: these may include contracts or invoices, business partners' reference letters, company business strategies, and details about your desired business activities.

  • Residence visa for shareholders

Check the shareholders of your business are required to have residency visas. 
One of the business partners must provide the documentation to your referenced bank, while it is not mandatory for others. So the question of whether your shareholders have residency visas in place or not could have an impact on which banks you are considering applying to. In the case of foreign ownership, the partners need not have a residence visa while they require UAE national in office space for rent in Dubai for business expansion. Find out the best banks which match your criteria without causing any roadblocks for application procedures

  • Select your Bank
Eligibility criteria: It is essential to analyze that most banks require you to have a residency visa to open a bank account in the UAE. Furthermore, you may be required by selected banks to have a local address in the UAE and needed for future visa services in UAE.   
Income:  minimum balance is required by most banks in the UAE  is AED 20,000 to AED 500,000.
  • Bank procedures 

You can begin the official bank account opening process in your selected bank once you have completed the paperwork in order. Trying to visit a branch and meet face-to-face with a client advisor who can answer any questions you may have is highly necessary.  you can talk yourself or ask queries Customer Care department to do it for you. The bank representative will let you see, if all is in order, that they will move on with the setup process and it takes 2 to 3 weeks.  





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