The business bank account

Prepare your application and understand the main banking options available for a company in the UAE.

Prepare your bank application properly

We work with several banks in the United Arab Emirates to open bank accounts for our clients’ companies. Opening an account remains complicated, regardless of the company’s size. It is therefore advisable to prepare the account-opening application as thoroughly as possible so that the bank classifies the application as “low” risk.

A client will be classified by a bank as “high risk” if:

  • Their company is registered with a poorly reputed registry in the United Arab Emirates
  • The shareholder is not a resident of the United Arab Emirates
  • The company’s intended business activity is unclear or too general
  • The client has no professional experience or the source of funds is unclear
  • The personal bank statements provided show a negative or low balance, or a balance inconsistent with the company’s intended activity

In these cases, there is a real risk that the banker will refuse to open an account or request additional information, which will then require more time to open an account (at least one and a half months).

Banking options

Banks located in the United Arab Emirates

The names are not listed on the page, but you can contact us to find out what they are.

Bank A

Profile: Traditional bank in the UAE

Remote account opening: No

Requirements: Company documents + Emirates ID + tenancy contract or Ejari (office lease) + professional supporting documents

Deposit: AED 50,000

Timeframe: 1 month

Bank B

Profile: Traditional bank in the United Arab Emirates

Remote opening: No

Requirements: Company documents + EmiratesID + a private residence lease agreement ("Ejari") or a title deed + a tenancy contract or Ejari (lease) for an office + professional supporting documents

Deposit: AED 200,000

Processing time: 3 weeks

Bank C

Profile: Traditional bank in the UAE

Remote account opening: No

Requirements: Company documents + Emirates ID + tenancy contract or Ejari (office lease) + professional supporting documents

Deposit: AED 25,000

Time frame: 1 month

Bank D

Profile: Online bank in the UAE

Remote opening: No

Requirements: Company documents + EmiratesID + tenancy contract or Ejari (office lease)

Deposit: No minimum

Timeframe: 3 weeks

Bank E

Profile: Online bank in the United Arab Emirates

Remote account opening: Yes

Requirements: Company documents + EmiratesID + Ejari (lease) for a private residence or a property title deed in the UAE, or a tenancy contract or Ejari (lease) for an office

Deposit: No minimum

Time frame: 1 week

Bank F

Profile: Online bank outside the Emirates

Remote opening: Yes

Requirements: Company documents + operational website

Deposit: No minimum

Timeframe: 1 week

Bank G

Profile: Online banking outside the Emirates

Remote opening: Yes

Requirements: Company documents

Deposit: No minimum

Timeframe: 1 week

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