Bank Account Opening for Company Setup and Corporates in Dubai
Opening a corporate bank account is a critical step in establishing and operating a business not only in Dubai, but anywhere in the world. If you are setting up a new company or managing an existing corporate house in mainland, free zones, or offshore jurisdictions, then you cannot commence your full operations without full operations. Having a corporate bank account enables business in Dubai to conduct local and international transactions efficiently. It also allows businesses to receive payments from clients and partners, establish credibility with suppliers, customer, and regulators, and manage operational expenses and payrolls. Moreover, it is necessary to comply with the financial and tax regulations in the country.
Banking Options in Dubai
In Dubai, we have so many national and international banks, such as Emirates NBD, Mashreq Bank, and HSBC UAE, and each bank has its own compliance framework, risk assessment criteria, and account maintenance requirements. Selecting the right bank depends on factors such as business activity, shareholder profile, transaction volumes, and international exposure.
Corporate Bank Account Opening Process
The bank account opening process in Dubai is thorough and compliance-driven, and the good news is that we are here to make it easy for you.
Pre-assessment and Bank Selection
We help you choose the right bank for your business based on evaluation of the company structure, business activity, and ownership to identify suitable banks.
Document Preparation
We help you prepare the documents, such as trade license and certificate of incorporation, memorandum and articles of association, shareholder and director passport copies, proof of address and personal profiles, and business plan and projected financials.
Compliance and Due Diligence
We help you in KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. This may involve interviews with shareholders or authorized signatories.
Account Approval and Activation
We ensure your account is approved, activated, and online banking credentials are issued. The timeline can range from two to six weeks, depending on the bank and the complexity of the corporate structure. Connect with us now to open your company’s bank account.
