Corporate Bank Account Opening in UAE

The account opening process typically takes 2-4 weeks, depending on the bank and completeness of documentation. Some banks offer expedited services that can complete the process in 1-2 weeks. Due diligence and compliance checks are the main factors affecting timeline.

Minimum deposit requirements vary by bank and account type, ranging from AED 25,000 to AED 100,000. Some banks offer accounts with no minimum deposit for certain business categories. We can help you find banks with suitable minimum balance requirements.

Generally, you need a valid trade license before opening a corporate bank account. However, some banks allow initial approval (ICA) holders to open accounts. We recommend completing your company formation first for smoother account opening.

Yes, most UAE banks require at least one in-person visit from authorized signatories for account opening. This is for identity verification and signature collection. However, subsequent banking can be done online. Some banks now offer video verification for certain accounts.

Yes, freezone companies can open accounts with most UAE banks. However, some banks have specific preferences or requirements for freezone entities. We work with banks that readily accept freezone companies and can guide you to the most suitable options.