Bank Account

How to Open a Company Bank Account in the UAE?

Zilpah

February 7, 2026

How to Open a Company Bank Account in the UAE?

Opening a company bank account in the UAE is an important step after you set up your business. It allows you to receive payments from customers, pay suppliers, manage expenses, and keep your business finances separate from personal money. A company bank account helps your business run smoothly and stay compliant with UAE rules.

That said, opening a business bank account in the UAE isn’t always as straightforward as it sounds. Banks follow strict compliance and due-diligence procedures, and requirements can vary based on your business activity, ownership structure, and shareholder nationality. Many entrepreneurs face delays, additional document requests, or even rejections simply due to a lack of preparation. That’s why we will walk you through everything you need to know to open a company bank account in the UAE smoothly and with fewer hurdles.

Why Do You Need a Company Bank Account in the UAE?

Now that the UAE has fully implemented its Corporate Tax regime and is rolling out real-time e-invoicing, your bank account is the foundation of your business’s legal existence.

1. Legal & Regulatory Compliance

Tax Readiness: With Corporate Tax now a standard part of the landscape (9% on profits above AED 375,000), you must maintain clean, auditable financial records. A corporate account ensures your business income and expenses are never mixed with personal funds, which is the first thing tax authorities check.
WPS (Wages Protection System): If you have employees, you are legally required to pay their salaries through the UAE’s Wages Protection System. You cannot do this from a personal or overseas account; it must be done through a local corporate bank.
VAT & E-Invoicing: Starting July 2026, the UAE is moving to a mandatory e-invoicing system. To stay compliant and process these digital tax-ready invoices, you need a local banking setup that talks to the government’s financial networks.

2. Builds Trust and Credibility

Clients and partners feel more confident dealing with a business that has a registered company bank account. It shows that your business is genuine, transparent, and properly set up in the UAE. This can help you win more contracts and long-term clients.

3. Enables International and Online Transactions

A UAE company bank account allows you to send and receive international payments easily. You also get access to online banking, payment gateways, and multi-currency options. This is especially helpful for businesses dealing with overseas clients.

4. Keeps Business and Personal Finances Separate

A company bank account helps you keep personal spending and business transactions completely separate. This reduces confusion, makes tracking expenses easier, and keeps your records clean. It also helps avoid issues during audits or financial reviews.

5. Required for Working with Government and Large Corporations

Many government entities, free zones, and large corporate clients in the UAE only make payments to registered company bank accounts. Without one, you may miss out on tenders, contracts, or long-term projects. A business account makes your company eligible for bigger opportunities.

Who Can Open a Company Bank Account in the UAE?

As long as your company has a valid license and meets bank requirements, you are generally eligible to apply.

Mainland Companies: Businesses registered under the UAE mainland can open a company bank account with local or international banks. These accounts are commonly used for trading, services, and professional activities operating within the UAE market.
Free Zone Companies: Companies registered in UAE free zones are also eligible to open company bank accounts. Many banks are familiar with free zone structures, though requirements may vary depending on the free zone and business activity.
Offshore Companies: Offshore companies can open bank accounts in the UAE, but the process may be more selective. Banks usually carry out additional checks and may ask for more documentation, especially regarding the source of funds and business purpose.
Resident and Non-Resident Business Owners: Both UAE residents and non-residents can open a company bank account. However, non-resident shareholders may face stricter checks, additional document requests, or longer approval timelines.

What are the Eligibility Criteria for Opening a Business Bank Account in the UAE?

To open a company bank account in the UAE, businesses must meet certain basic requirements set by banks and regulatory authorities.

1. A Valid Trade License

You cannot even start an application without a legal entity. This includes:

Mainland Entities: Registered with the Department of Economic Development (DED).
Free Zone Entities: Registered with authorities like DMCC, IFZA, or Abu Dhabi Global Market (ADGM).
Freelance Permits: Professional solo licenses are fully eligible, especially for digital-first banks.

2. Physical Presence or Office Arrangement

Many banks prefer businesses to have a physical office, flexi-desk, or registered address in the UAE. This helps establish that the company has a real presence and is not just a paper entity.

3. Residency & Identity

At least one authorised person who will manage the account (usually a shareholder or director) must typically have a UAE Residency Visa and a valid Emirates ID. Every shareholder owning more than 25% of the company (the Ultimate Beneficial Owners or UBOs) must provide their passport and proof of address, regardless of where they live.

4. Compliance with KYC and AML Rules

UAE banks follow strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. You may be asked to explain the source of funds, expected transactions, and client locations to ensure full compliance.

Who May Be Ineligible to Open a Corporate Bank Account in the UAE?

You might be ineligible or face immediate rejection if:

Sanctioned Countries: Any shareholder is a citizen of a country on the FATF “Grey List” or under international sanctions.
Opaque Ownership: You use Nominee shareholders or complex holding structures that hide the true owner.
High-Risk Industry: You are in crypto, gold trading, or gambling without specific high-tier licensing and extra compliance.

Documents Required to Open a Company Bank Account in the UAE

To open a corporate bank account in the UAE, banks require a set of standard documents to verify your business, shareholders, and the nature of your activities.

Company Documents:

Valid UAE trade license
Certificate of incorporation or company registration certificate
Memorandum & Articles of Association (MOA/AOA)
Share certificate (if applicable)
Board resolution authorising the opening of the bank account

Shareholder and Director Documents:

Passport copies of all shareholders and directors
UAE residence visa copies (if applicable)
Emirates ID copies (for UAE residents)
Recent passport-size photographs

Business & Compliance Documents:

Proof of business address (office lease, Ejari, or flexi-desk agreement)
Business profile or company summary
Description of business activities and operations
Expected transaction volume and countries of operation
Source of funds declaration

Additional Documents (If Required):

Bank reference letter (for shareholders or company)
Existing company bank statements (if any)
Contracts or invoices with clients/suppliers
Audited financial statements (for established companies)

How to Open a Company Bank Account in the UAE?

Opening a company bank account in the UAE involves several checks and formalities. Here is the step-by-step process:

Step 1: Choose the Right Bank

Start by selecting a bank that suits your business needs. Consider factors such as minimum balance requirements, online banking facilities, international transfer options, and experience with your type of business activity.

Step 2: Prepare the Required Documents

Collect all company, shareholder, and compliance documents in advance. Make sure the details are accurate and consistent across all documents, as any mismatch can delay the process.

Step 3: Submit via UAE PASS

Most banks now integrate with the UAE PASS app. Ensure your UAE PASS is upgraded to a ‘Verified Account.’ When you apply, you will often “sign” your application digitally through the app. This has replaced the old method of physically signing dozens of pages of fine print.

Step 4: Submit the Bank Account Application

Once documents are ready, submit the bank account application to your chosen bank. This can be done directly with the bank or through an authorised business consultant like AE Setup.

Step 5: The Compliance Interview (The KYC Stage)

Once you submit, a compliance officer will review your file. For traditional banks, you will likely be invited for a face-to-face meeting at a branch to explain your business model. For digital banks, this is done via a video call or by providing additional clarifications through the app.

Step 6: Final Review & IBAN Generation

If compliance is happy, your application goes to a final risk committee. Once approved, you will receive an email and an SMS with your IBAN (International Bank Account Number) and account details.

Note: In 2026, banks no longer send OTPs via SMS for security reasons. You must download the bank’s mobile app immediately to authorise your first login.

AE Setup supports businesses through the entire setup journey in the UAE, including company formation, documentation, and assistance with opening a company bank account.

Can Non-Residents Open a Business Bank Account in the UAE?

Yes, non-residents can open a company bank account in the UAE, but the process is usually more detailed and may take longer compared to resident-owned businesses. UAE banks follow strict compliance rules, so applications from non-resident business owners are reviewed more carefully.

Higher Minimum Balance Requirements:

While a resident might open an account with a minimum balance of AED 10,000, non-resident corporate accounts often come with much higher requirements.

Standard Banks: Expect to maintain between AED 50,000 to AED 200,000 (or more) to keep the account active without fees.
Digital Banks: Some Neobanks (like Wio or Mashreq NeoBiz) are more flexible, but they may still require proof of strong business ties to the UAE.

Limited Features for Non-Residents:

If you open a non-resident account, you might face a few lite versions of banking services:

No Cheque Books: Many banks only offer cheque books to UAE residents with a valid Emirates ID.
No Credit Facilities: Getting a business loan or a credit card is nearly impossible for a non-resident-owned company until you have at least 12 months of solid transaction history.

Getting Your UAE Business Banking Right

Many business owners focus on getting the license first and think about banking later, but in the UAE, early planning makes all the difference. Understanding bank requirements in advance can save you weeks of follow-ups and paperwork and help you start operations without delays.

With All Emirates Setup, you don’t have to manage everything on your own. We help businesses with complete setup support, including licensing, PRO services, visas, office space, company bank account opening, taxation, and ongoing compliance. Having one expert partner for everything makes the process easier, faster, and more reliable.

Frequently Asked Questions – Business Bank Account

1. How long does it take to open a company bank account in the UAE?

On average, it takes 2 to 6 weeks to open a company bank account. The timeline depends on the bank, business activity, and how quickly documents are approved.

2. What is the minimum balance required for a corporate account?

Requirements vary by bank and account tier. Many digital banks now offer zero-balance accounts for startups. Traditional banks usually require a monthly average balance ranging from AED 10,000 to AED 50,000, while premium or high-risk business accounts may require AED 200,000 or more.

3. Can I open a UAE business bank account online?

As of 2026, most banks allow you to start the process online or via a mobile app. If you have a UAE PASS (the national digital identity), you can often complete the entire verification and signing process digitally without visiting a branch.

4. Which is the best bank for a startup in the UAE?

For 2026, Wio Business and Mashreq NeoBiz are top choices for their fast, digital-first onboarding. If you need a traditional bank with a large branch network, RAKBANK and Emirates NBD offer some of the most popular SME-specific packages.