Opening Bank Account Made Easy
Are you looking to open a business bank account in Dubai, but don’t have the time or expertise to navigate the process? Let us help!
Our team at The UAE Startup specializes in helping businesses open bank accounts in Dubai quickly and easily. We have a deep understanding of the local banking system and can help you choose the right bank for your business needs. We will handle all the paperwork and documentation, and make sure your application is completed accurately and efficiently.
By using our services, you can save time and hassle, and get your business bank account up and running in no time.
Steps to follow to open a business bank account in the UAE:
- Choose a bank: It’s important to compare the different options and find one that meets your business needs. Some factors to consider include the bank’s fees, available services, and location.
- Gather necessary documents: These includes trade license, MOA, office lease agreement, business profile, identification documents for the business owner(s), and information about the business’s legal structure and activities.
- Complete the application: This will typically involve filling out a form and providing the required documents.
- Provide additional information: The bank may ask for additional information to complete the application process. This could include information about the business’s financial history and projections, as well as details about the business owner(s) and any authorized signatories on the account.
- Wait for approval: The bank will review the application & submitted documents and make a decision. If the application is approved, you will be able to open the business bank account and start using it for your business transactions.
BANK ACCOUNT OPENINGAED 2500
- One-time Service Fees
- Personal / Corporate
- Bank Account
- Trade License
- Memorandum of Association
- Passport copy of the authorized signatory (i.e.) with visa page/Entry Stamp page.
- Passport copy of the Local Emirati Sponsor with idbara page
- Chamber of Commerce Certificate copy
- Power of Attorney if the account is opened and operated by the Power of Attorney holder.
- Trade License
- Share Certificate
- Passport Copies of all partners
- Memorandum and Article of Association
As per the guideline from Central Bank, the owner must be physically present to open the bank account.
The fees can vary depending on the bank and the type of account. Some common fees to consider include account maintenance fees (from AED 50 to AED 300/month), transaction fees, and fees for additional services such as online banking or checkbook issuance.
Yes, it can be used for international transactions, such as making and receiving payments in foreign currencies.
Is it possible to open a joint business bank account in the UAE?
Yes, it is possible to open a joint account, where multiple individuals or businesses are listed as share holders