Opening a business account in the UAE takes two to four weeks when the file is complete, and two to four months when it isn’t. After eleven years in relationship banking, I’d say nine out of ten delays come from the same few gaps.
Company documents
- Trade licence and certificate of incorporation.
- Memorandum and articles of association.
- Share certificates or the register of shareholders.
- Establishment card and the lease or flexi-desk agreement.
For every shareholder and signatory
- Passport, plus residence visa and Emirates ID if you have them.
- Proof of home address from the last three months.
- Six months of personal bank statements.
- A short CV showing your experience in the activity.
About the business
- A business profile: what you sell, to whom, your main suppliers and the countries involved.
- Expected monthly turnover and the number of transactions.
- Contracts, invoices or letters of intent from real customers.
- Evidence of where the starting capital comes from.
The three things that slow applications down
- Source of funds without evidence. Saying the money comes from savings isn’t enough; the bank wants the statements, sale agreement or dividend record that shows it.
- Figures that don’t match. If your profile says AED 200,000 a month and your contracts add up to AED 20,000, expect questions.
- Countries the bank is cautious about. If you trade with them, say so up front and explain how. Surprises at the compliance stage end applications.
Apply to the right bank once, with a complete file, rather than to five banks with half a file.
We build the file with you, write the business profile, and apply to the two banks most likely to accept your activity. Bank account opening starts at AED 2,500, with no success fee.
