Are you looking for information about
opening a business bank account in Dubai? You are absolutely right to take an interest in this, as it is undoubtedly the most complex step you will have to manage when
establishing your company in the United Arab Emirates.
If you decide to seek assistance from our firm, we can advise and guide you through every step of
opening a bank account in Dubai. Let’s review the most common questions concerning bank accounts in the United Arab Emirates.
How do you choose a bank in Dubai?
The banking network is highly developed in the United Arab Emirates. In this context, choosing a bank can seem difficult. We usually work with EmiratesNBD, Mashreq Banq, Noor Bank and NBAD, simply because these banks are accustomed to international clients.
Not all banks have the same criteria for accepting or rejecting an application to open a business account from a potential client. Depending on your profile and that of your company, we can therefore recommend one bank over another. We know their selection criteria well.
Can you open a bank account outside the United Arab Emirates?
Since it is not easy to
open a bank account in the United Arab Emirates, you may wonder whether it would be more sensible to choose a bank located in another country instead. There is nothing to prevent you from doing so. However, we do not recommend it:
- In another jurisdiction, banking secrecy may not necessarily apply
- This could affect your company’s credibility
Do you have to travel to Dubai to open a bank account?
Yes! You cannot request the opening of a bank account with a bank located in the United Arab Emirates without traveling for an in-person appointment. Your application will simply be rejected.
But there is good news: you do not necessarily need to wait until your company is registered to sign the documents at the bank. Provisional documents can be provided, and we will submit the final documents to the bank at the appropriate time. If it suits you to travel to Dubai before the company is definitively registered, this will therefore not be a problem for your bank appointment.
What documents must be provided to banks in Dubai?
Here are the documents you will need to provide to the bank during your appointment:
- A detailed CV of the shareholders in English
- Copies of the shareholders’ personal bank statements for the last 6 months
- A 2- to 3-page business plan in English
- Documents proving your professional activity (invoice, contract, bank statements dated less than 3 months ago…)
Can you guarantee that a bank account will be opened in Dubai?
Unfortunately, we cannot guarantee
the opening of a bank account in Dubai. The bank is the decision-maker. The documents you provide will therefore be of vital importance.
The objective is simple: the bank must classify you as a low-risk rather than a high-risk client.
We can review the complexity of your application with you. We can recommend a bank based on this assessment, advise you and help you prepare a strong application.
I have questions about opening a bank account in Dubai: what should I do?
As a company director, you will inevitably have questions about the procedures for
opening a bank account in Dubai. If you have not found the answers to your questions on our website, do not worry: we can advise you without any problem.
Contact us so that we can review your application: we are here to help you obtain
a bank account in Dubai, even though we cannot guarantee that it will be opened.
