Opening a UAE Business Bank Account: What Banks Want

Every UAE company needs a corporate bank account, but banks apply strict know-your-customer and anti-money-laundering checks, so opening one is more involved than for a personal account.

At minimum, banks ask for the trade licence, the memorandum and articles of association, shareholder and director passports and Emirates IDs, proof of address, and a description of the business and its expected transactions.

Banks assess the business activity, the nationalities of the owners, expected turnover, and counterparties. Higher-risk activities or jurisdictions face deeper due diligence, which lengthens approval times.

Approval typically takes anywhere from a few days to several weeks. Mainland companies with a clear local activity and a physical office often clear faster than offshore or high-risk-sector entities.

Many banks set a minimum monthly balance for corporate accounts and charge a fee if it is not maintained, so compare account tiers before choosing a bank.