UAE Bank Account Requirements

Dubai bank account requirements to open the account depend on:

·    The type of the account – private or corporate.

·     If you have residency visa in Dubai or not.

·    On the additional specific requirements bank may have.

I n general the banks requirements are as follows:

·         You shall be present in UAE and sign the account opening forms in the presence of the banker.

·         You shall provide the original passport so the copy can be made from its original.

·         The copy of the page from your passport with the UAE entry stamp shall be provided.

In addition, for private accounts, the requirements for the Dubai bank account opening are as follows:

·         Utility bill from your country of permanent residency with your name and residential address as the confirmation of your address.

·         Bank reference letter or bank statement. Some banks require both.

·         CV (with the data on your professional and career / business background).

If you have the residency visa in UAE, the additional required documents are:

·         Copy of the page in your passport with your residency visa.

·         Copy of the Emirates ID card.

·         If you are employed in UAE – NOC from your employee to open the account.

For opening the corporate bank accounts in Dubai, UAE, the requirements are:

·         The documents listed in the points above shall be provided on the company shareholder.

·         Passport copy of director – if different from shareholder.

·         The full set of the company incorporation documents.

In terms of the exact set of the company incorporation documents required to open the corporate account– such requirements depend on the type of the company. Normally these documents are:

·         Memorandum and articles.

·         Certificate of incorporation.

·         Information on company shareholders – shareholders registry, company extract from the official companies registry, share certificate.

·         Information on company directors – directors registry, company extract from the official companies registry.

·         Certificate of good standing (confirmation that the company is in good state).

The banks in Dubai also have the additional account requirements such as, for example, the minimum account balance. This requirement is different from bank to bank and can be from the minimum balance of EUR 3.000,- or equivalent for regular accounts and up to EUR 100.000,- and more for privileged accounts.

Moreover the banks require the information within its KYC policies (Know Your Customer Policy) means it would require the information on the type of the activities on the account and the source of funds.

The bank may also require, on case to case basis, some additional supporting documents. Such documents can be, for example, the existing contracts, reference letters from the business partners, business plan, etc.

We provide the complete support when choosing the bank in Dubai and the type of account which fits your individual requirements, provide the complete assistance to prepare all the documents required for the account opening, introduce you to the bank and make sure the account is opened.

To open corporate or private bank account in Dubai, UAE please CONTACT US or send us your ONLINE REQUEST .

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