Dubai Setup
Dubai Setup

Open a Business Bank Account in Dubai

Navigate UAE's banking landscape with expert guidance. Get your corporate account approved faster with our banking introduction services and documentation support.

Bank IntroductionsDocumentation SupportMulti-Currency Accounts

UAE Business Banking Overview

Opening a business bank account in Dubai is a critical step after company formation. The UAE has a sophisticated banking sector with both traditional banks and modern digital banking solutions catering to businesses of all sizes.

The UAE banking sector includes major local banks like Emirates NBD, FAB (First Abu Dhabi Bank), ADCB, and Mashreq, as well as international banks such as HSBC, Standard Chartered, and Citibank. In recent years, digital banks and EMIs have also entered the market, offering faster and more flexible banking solutions.

While the account opening process has become more stringent due to enhanced due diligence requirements, working with experienced business setup consultants can significantly improve your chances of approval and speed up the process.

Types of Business Bank Accounts in UAE

Current Account

Standard business operating account for day-to-day transactions, payments, and collections. Essential for any active business in the UAE.

  • • Cheque book facility
  • • Online banking access
  • • Debit card issuance
  • • Multi-currency options available

Savings Account

Interest-bearing account for businesses looking to earn returns on surplus funds while maintaining liquidity.

  • • Competitive interest rates
  • • Limited transactions per month
  • • Lower fees than current accounts
  • • Ideal for reserve funds

Fixed Deposit Account

Lock in higher interest rates by depositing funds for a fixed term. Suitable for businesses with predictable cash flow.

  • • Higher interest rates
  • • Terms from 1 month to 5 years
  • • Minimum deposit requirements
  • • Early withdrawal penalties apply

Multi-Currency Account

Hold and transact in multiple currencies from a single account. Ideal for international trading businesses.

  • • USD, EUR, GBP, and more
  • • Reduced conversion costs
  • • Hedge against currency fluctuations
  • • Streamlined international payments

Major Banks for Business Accounts in UAE

Emirates NBD

One of the largest banking groups in the Middle East. Offers comprehensive business banking solutions with strong digital capabilities and wide branch network.

Large NetworkDigital BankingSME Packages

First Abu Dhabi Bank (FAB)

The UAE's largest bank by assets. Strong international banking capabilities and excellent for businesses with cross-border operations.

Largest UAE BankInternational FocusTrade Finance

RAKBANK

Known for being SME-friendly with simpler account opening procedures. Popular choice for startups and small businesses in Free Zones.

SME FriendlyEasier OnboardingFree Zone Expertise

Mashreq Bank

One of the oldest private banks in the UAE. Strong digital innovation with Mashreq Neo for business and competitive SME packages.

Digital InnovationNeo BusinessQuick Approvals

Wio Bank

UAE's first platform bank, backed by ADQ, Etisalat, and FAB. Fully digital experience with fast onboarding and no minimum balance.

100% DigitalNo Minimum BalanceFast Onboarding

Documents Required for Business Bank Account

Company Documents

  • Valid Trade License
  • Memorandum of Association (MOA)
  • Certificate of Incorporation
  • Share Certificate
  • Board Resolution for Account Opening
  • Company Profile / Business Plan

Shareholder & Director Documents

  • Passport Copies (color, valid 6+ months)
  • UAE Visa / Emirates ID (if resident)
  • Proof of Address (utility bill, bank statement)
  • CV / Professional Background
  • Bank Reference Letter (from existing bank)
  • Source of Funds Documentation

Business Bank Account Opening Process

1

Bank Selection

We assess your business type, transaction volumes, and banking needs to recommend the most suitable banks. Different banks have different appetites for various business activities and company structures.

2

Document Preparation

We help prepare and organize all required documentation, including company profile, source of funds declaration, and expected transaction details. Proper documentation significantly improves approval chances.

3

Bank Introduction

We introduce your company to the bank through our established relationships. Having a professional introduction can expedite the process and improve the likelihood of account approval.

4

Application Submission

The bank's relationship manager reviews your application and may request additional information. We assist in responding to any queries and providing supplementary documentation.

5

Due Diligence & Approval

The bank conducts KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. This process typically takes 1-4 weeks depending on the bank and complexity of your business structure.

6

Account Activation

Once approved, you'll sign account opening documents, make the initial deposit, and receive your account details, online banking credentials, and debit card. Your account is now ready for business transactions.

Tips for Bank Account Approval

✓

Prepare a Clear Business Plan

Explain your business model, target markets, and expected transaction volumes clearly.

✓

Document Source of Funds

Be prepared to show legitimate sources for initial capital and ongoing business income.

✓

Maintain a UAE Presence

Having a resident director or shareholder improves approval chances with many banks.

✓

Choose Appropriate Business Activities

Some activities face more scrutiny. Ensure your license activities match your actual business.

✓

Get Bank References

Reference letters from existing banks demonstrate financial credibility.

✓

Work with Professionals

Bank introductions through established consultants improve success rates significantly.

Frequently Asked Questions

What documents are required to open a business bank account in Dubai?
Required documents typically include: trade license, memorandum of association, passport copies of shareholders and directors, proof of address, company profile or business plan, board resolution authorizing account opening, and source of funds documentation. Requirements vary by bank.
How long does it take to open a corporate bank account in the UAE?
The timeline varies significantly by bank. Some banks can open accounts within 1-2 weeks, while others may take 4-8 weeks. Digital banks and fintech solutions often offer faster onboarding, sometimes within days.
Can I open a UAE bank account without being physically present?
Most traditional UAE banks require at least one in-person visit for account opening. However, some digital banks and EMIs (Electronic Money Institutions) now offer remote account opening for certain business types with proper documentation.
What are the minimum balance requirements for UAE business accounts?
Minimum balance requirements vary by bank and account type. Traditional banks may require AED 50,000-250,000 minimum balance, while digital banks often have lower or no minimum balance requirements. Some premium accounts require higher deposits.
Which UAE bank is best for a new business?
The best bank depends on your business needs. RAKBANK and Mashreq are known for being SME-friendly. Emirates NBD and FAB offer comprehensive services for larger businesses. Digital banks like Wio and CBD Now suit businesses needing quick setup and modern banking features.
Can a Free Zone company open a bank account with any UAE bank?
Yes, Free Zone companies can open accounts with most UAE banks. However, some banks have preferences for certain Free Zones or business activities. It's advisable to check with the bank beforehand about their acceptance of your specific Free Zone license.
What fees are involved in UAE business banking?
Common fees include: account opening fees (AED 0-5,000), monthly maintenance fees (AED 50-500), transaction fees, international transfer fees (AED 50-150 per transfer), chequebook fees, and online banking fees. Fee structures vary significantly between banks.
Why do UAE banks reject business account applications?
Common rejection reasons include: incomplete documentation, high-risk business activities, unclear source of funds, poor credit history, shell company concerns, sanctions-related issues, or lack of physical presence in UAE. Working with a banking consultant can help address these issues proactively.

Related Services

Free Zone Company Setup

100% foreign ownership with tax benefits and simplified setup process.

Mainland Company Setup

Trade anywhere in the UAE with full market access.

UAE Golden Visa

Long-term residency through investment or business ownership.

Ready to Open Your Business Bank Account?

Get expert assistance with bank selection, documentation, and introductions. Our team has helped hundreds of businesses successfully open UAE bank accounts.