What documents are needed to open a business bank account in Dubai?
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Answered on October 23,2023
You will require the following documents to open a Business Bank Account in Dubai:
- Emirates ID
- Virtual Address or a Physical Space
For further information, you can reach our Business Consultants at Shuraa.
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Answered on October 24,2023
If you’re planning to use your bank account to do business in the UAE, you’ll need to open a corporate bank account. The reason why you have to open a corporate account is that UAE law prohibits you from doing business with a personal account.
Generally speaking, corporate accounts should be current accounts. The reason for this is so that they can process a large volume of transactions. Opening a current corporate account in the UAE usually takes between two and four weeks.
When you go to open a corporate bank account, it’s important to note that you’ll need a few additional documents to do so. The exact documents may vary depending on your chosen bank and your type of company, but they usually include:
- Your company trade license
- A certificate of your company’s registration
- Share certificates
- The company’s articles of association and memorandum
- A letter from the board giving a company officer the power to open a corporate account
- Visas and passports from all shareholders
With these documents in hand, you’ll be all set to open a bank account.