Bank Account Opening Services

Bank Account Opening Services

Manage your finances by opening a bank account in UAE

With Emirates Business Setup, opening a bank account in Dubai has become much easier and faster.
Banking Services

We assist our clients in opening a bank account in Dubai or in UAE either under a person’s name as a personal bank account or a bank account under the company’s name as a corporate bank account. It is a straightforward process; if you want assistance, EBS can surely help you.

Opening a business bank account in Dubai

For many firms, UAE is a wealthy business hub, because of the UAE economy. The economy is rising and starting a business in the UAE is the perfect option currently. Many foreigners and HNWI (High-net-worth-individuals) around the globe are trying hard to open a business bank account in Dubai, UAE.

Opening a business bank account is the most necessary procedure when establishing a company in Dubai. A corporate bank account is essential since it helps you to keep track of your business expenses and certifies the legitimacy of your organization. Maintaining a business account enhances your professionalism and helps you manage your work. Also, when you write checks to vendors, they will acknowledge it as coming from a respectable company that an individual can trust even in the future.

However, creating a business bank account in the UAE is difficult as it requires a lot of effort and documentation. The procedure is extensive and time intensive, with a few steps applied before opening a business bank account.

For that, Emirates Business Setup banking advisors are experts in this field who always help our clients with everything from selecting the right bank to getting a bank account done.

Required documents for opening a corporate bank account

Opening a corporate bank account can be tiring if you are doing your own, but if you choose the right consultants, this process becomes a lot easier and quicker. The documents that need to be submitted for a corporate bank account if you are an investor here in UAE are:

  • Trade license of your company
  • Certificate of your registered company
  • Memorandum of Association of your company with all amendments and Articles of Association of your company
  • Emirates ID copy
  • Ejari & tenancy for office
  • Customer profile (CV)
  • Business model/company profile or website
  • Copies of visas and passports from all shareholders
  • Last 6 months bank statement

Personal bank account opening details

Everyone should have a bank account to manage their expenses and income for savings. In this developing world now, everything is digital. You can have your cash on your card and do online transactions by paying for all goods and services. Almost all kinds of payments are now accepted by online transactions or using one of the online payment methods. These methods give you safety and security; this way, you can easily track all your expenses. So that’s why Personal bank accounts have now become mandatory to maintain individual assets and incomes and quickly pay off expenses.

Required documents for opening a bank account in Dubai

Required documents to open a personal or saving bank account for residents in Dubai are as follows:
  • Passport
  • Emirates id
  • Copy of Visa
  • Salary certificate or labour contract
It can be open within one day in UAE.

Required documents for non-residents to open a bank account in Dubai

For non-residents, only saving accounts can be opened in UAE. It takes some time for banks to run a background check before allowing a non-resident to open a saving account here in the UAE. The documentation required for opening a saving account for non-residents in UAE are as follows:

  • Utility bills for last month
  • Reference letter from the home country bank of an individual that wants to open it
  • Monthly basis bank statements from home bank
  • Proof of consistent sources of funding
The process is time taking and tiring for non-residents. Still, it is possible with Emirates Business Setup consultants, as they will surely advise you on the best and help you choose the right option until your bank account opens.

Benefits of opening a business bank account in Dubai

Numerous benefits come with having your personal or corporate bank account in Dubai, such as:

  • Easy accessibility and safer in banks.
  • Cashless transactions can be made quickly.
  • Most banks provide cash back for spending, so it’s more like spending and earning more.
  • We will have our transaction history at any time.
  • Easy to maintain a budget.
  • Electronic Mobility is seen anywhere

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Credit card for business owners in UAE

Business credit cards are designed to facilitate business owners to make small purchases with credit. These credit cards are used to manage business expenses, not personal or individual expenditures. The main reason to get business credit cards is to build your credit score for business, as it is vital for the financial health check of our business in the long run.

Different factors come as an eligibility criterion before applying for a business credit card, including age factor, the income of the individual, and proof of trade license of business. It is crucial to find out the best bank that suits you well, and for that reason, we can assist you.

Credit card for employees in UAE

There is a widespread opinion about how unimportant credit cards are, but contrary to that, using a credit card can be rewarding as you can access emergency funds, buy now, pay later scheme, and many more rewards. So, if you are looking to open your credit card in UAE as a resident here, then you must have these documents with you:

  • Salary of a minimum of 5000 AED or more
  • Original passport
  • Emirates ID
  • Copy of resident visa UAE
  • Salary certificate

Check and balance all your expenses effortlessly in Dubai

If you are a resident of the UAE, a bank account is a blessing. You can use it wherever you go, in and out, including in the malls, grocery stores, online shopping, or almost everywhere else. Especially if you are starting your company here, it is mandatory to have a business bank account to manage your finances efficiently.

Are you ready to take one step further and want to open a bank account in Dubai? Emirates Business Setup can help! Contact us now and apply for your bank account to get yourself on board.

FAQs

You can open a bank account per your needs; each bank has a distinct set of policies. You can choose the best bank account based on your needs and accessibility.

For a small business in the UAE, you can provide us your required documents such as copies of the shareholders’ passports, Emirates IDs, and visas in addition to the required company paperwork and their most recent six-month bank statements. 

Instead of choosing a hefty sum as the average monthly balance, bank accounts with lower monthly deductions or service fees are better for small businesses or start-up enterprises.

Every bank in UAE has a chequebook facility. You can request for chequebook facility whenever you want.

If you do not have a minimum 5000 salary, you can still open a bank account in Commercial Bank of Dubai (CBD), Emirates NBD Liv account, and First Abu Dhabi bank (FAB).

Every bank in UAE has this option. First Abu Dhabi Bank, Mashreq Bank, Emirates Islamic. To open this bank account, documents required are a passport, a copy of residency proof of any other country, and 6 months bank statement. For non-resident bank accounts, you will only get a debit card facility, not a chequebook facility.

If you are a non-resident, you can open a bank account with proper documents from your home country. Or if you are a resident of UAE, then you need an Emirates id to open a bank account.

A homemaker or a person sponsored in UAE can open a savings bank account. ADCB (Abu Dhabi Commercial Bank) and CBD (Commercial Bank of Dubai) are good option for a savings account. The documents required to open a saving account are a passport copy, residency copy, and emirates id copy, along with all the details of spouse.

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