Bank Account Opening
We offer bank account opening services to individuals and businesses, making it easier for you to manage your finances and grow your wealth.
When opening a bank account in the UAE
You might need the following
Onshore Company Registration in the UAE
Our specialists assist in incorporating a mainland (local) or free-zone (FTZ) company, enabling you to open a corporate account and carry out all required banking transactions.
All-Inclusive Aid for Opening a Bank Account
We compile all necessary documents and prepare you for the KYC procedure. Additionally, we accompany you to meetings with bank officers.
Office Space Leasing to Meet Bank's KYC Requirements
Trouble-Free Communication with Bank Officers
We provide constant communication support, making it easy for bank officers to reach out when dealing with transactions on your corporate account.
Streamlined Justification for Banking Transactions
Verification of Your Tax Resident Status
We help you meet the legal requirements and complete the necessary procedures to safeguard against the automatic exchange of financial information as mandated by the CRS.
Essential Documents for
Opening a Corporate Bank Account in the UAE
Resident Bank Account
- Full list of bank services and facilities is available, including cheque book, debit and credit cards and loan extensions.
- Low threshold requirement: no deposit is required to open an account.
- Intention to work with UAE partners and a valid residency visa for the account signatory are sufficient to open an account.
- No need to submit any insurance or investment plans to open an account.
- Simplified due diligence as the Immigration Service has already checked the individual.
- Bank secrecy assures the protection of a resident signatory’s information.
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An account is a fully functional tool for cash and settlement services.
Resident Bank Account
- Takes longer to open, offers a reduced list of bank services and has limitations in online banking.
- High threshold requirement: large deposit or confirmation of a million-dollar turnover is needed to open an account.
- It is sufficient to own real estate and have partners in the UAE with preliminary partnership agreements to open an account.
- In addition, an insurance or investment plan is also needed to open an account.
- Extended due diligence of the signatory - checks for any similar business abroad, thorough inspection of the source of funds.
- Information about a non-resident signatory is reportable to the authorities in the jurisdiction of the owner’s tax residency.
- Such an account is effectively used as an e-wallet for one-off operations.