How to Open a Bank Account for a UAE Company 2025 – Risk Free Complete Guide

If you run a company in the UAE — whether in Dubai, Abu Dhabi, Sharjah or another emirate — opening a corporate bank account is essential. A bank account in UAE provides a local presence, enables you to receive and send payments in dirham (AED) or foreign currencies, facilitates trade and fulfilment of regulatory and compliance obligations. Whether you are setting up a new venture, expanding your operations, or establishing a regional base, having a properly established bank account helps you operate smoothly, build credibility with clients and suppliers, and ensure compliance with local laws.

For international companies and investors, a UAE bank account also signals seriousness and reliability — which can help when entering contracts, applying for visas, or opening additional lines of credit.

What Types of Companies Need a Bank Account?

In the UAE you might have:

• A mainland company licensed under a local Department of Economy & Tourism (or equivalent regulatory authority).
• A free zone company, licensed under a free zone authority (for example in Dubai free zones, Sharjah free zones, etc.).
• An offshore or foreign‑owned entity, seeking a UAE banking presence.

No matter the type — mainland, free zone or offshore — you often need a corporate bank account if you intend to conduct business, receive payments, maintain working capital or meet regulatory obligations.

Step‑by‑Step Guide: How to Open a Bank Account for a UAE Company

Prepare Your Company’s Legal Status and Documents

1. Obtain a valid company license or incorporation certificate
   Before applying, your company must be properly registered — whether as a mainland company, free zone company, or offshore entity. Mainland companies will have a trade licence from the relevant authority (for example in Dubai, from the Department of Economy & Tourism). Free‑zone companies must have a licence issued by their free zone authority.
2. Gather corporate documentation
   Banks generally demand a full set of corporate documents:
   • Trade licence or certificate of incorporation.
   • Memorandum of Association (MoA) and, where applicable, Articles of Association (AoA).
   • Share certificate(s) or register of shareholders (if required).
   • If your company has a complex ownership structure (for example, corporate shareholders or shareholders outside UAE), you may also need attested documents from the parent company, plus a clear ownership structure or group‑structure chart.
   • If the MoA/AoA does not explicitly name who may open, operate or close bank accounts, you should supply a board resolution granting bank‑signatory powers to the relevant person.

Prepare Personal and Identity Documents for Shareholders / Signatories

3. Provide identity and residency documents for shareholders / authorised signatories
   Typically banks require: valid passport copies for shareholders and directors; for UAE residents, valid Emirates ID and residency visa; sometimes visa page and entry stamp.
4. Proof of address
   Banks usually require proof of a physical UAE address for the company’s operations. This could be: a registered tenancy contract (for mainland companies), a lease agreement for an office in a free zone or even a recognized virtual office address (depending on bank and free zone).

Provide Additional Supporting Documentation

5. Business profile, business plan or proof of legitimate activity
   Many banks insist on a credible business plan, details of intended business activity, and sometimes background on clients or suppliers. This helps banks comply with regulatory requirements (KYC / AML).
6. Source‑of‑funds or funds origin proof
   Especially for foreign or offshore companies, banks may request evidence of where initial funds or deposits are coming from — invoices, contracts, audited accounts, or prior bank statements.

Choose the Right Bank and Understand Their Requirements

7. Select a bank suited to your company type and needs
   The UAE hosts many local and international banks. Options include traditional banks and those offering Islamic or digital banking services. Some banks may be more Startup / SME friendly; others may require more substantial capital or a high minimum balance.
8. Check minimum balance and account maintenance requirements
   While many banks do not charge a fee purely for opening an account, they enforce a minimum balance or average monthly balance. Depending on the bank, this could range from AED 10,000 – AED 50,000 for SMEs or significantly higher for larger companies. Falling below the minimum balance may result in monthly fees or penalties.

Submit Your Application and Attend Due Diligence / Compliance Process

9. Submit application with all required documents and authorised signatory present
   Banks almost always require a face‑to‑face meeting with the key signatories before final approval. Even for foreign companies, a physical presence in UAE is often necessary for verification.
10. Expect KYC (Know Your Customer) and AML (Anti‑Money Laundering) checks
    UAE banks operate under strict regulatory standards. After submission, banks review your business legitimacy, ownership structure, source of funds, and overall compliance. This process can take time; typical for mainland or free‑zone companies is about 7–15 working days, though for offshore or complex entities it may take several weeks.

Account Activation and Start Banking

11. Account approval and receipt of banking credentials
    Once due diligence is complete and approved, you receive your corporate account number, International Bank Account Number (IBAN), online banking access, and — if requested — cheque book or debit cards.
12. First deposit and ongoing compliance
    Many banks expect an initial deposit to show account activity. After account opening, ensure you observe maintenance balance requirements and comply with periodic compliance or reporting requirements as required by regulators to avoid closure.

Special Considerations: Mainland vs Free Zone vs Offshore

Mainland companies

If your company is registered on the mainland (for example in Dubai or Abu Dhabi outside of a free zone), the process tends to be straightforward: a trade licence from the appropriate authority, corporate documents, proof of address, and personal documents of signatories. The application is often accepted sooner, because banks view mainland entities as having a real operational presence.

Free zone companies

Free‑zone companies (for example in Dubai free zones, Sharjah free zones, others) often enjoy benefits such as full foreign ownership. However, banks may still require proof of a valid lease or office — or at least a flexi‑desk/virtual office accepted by the free zone. Compliance checks may be stricter because free‑zone entities are often foreign‑owned.

Offshore companies / foreign‑owned entities

If you are a foreign investor or foreign company wanting to open a UAE bank account, the requirements intensify. All documents may need to be notarized, legalized, and attested (especially corporate documents from outside the UAE). Shareholding structure must be fully disclosed. A local bank may also expect a UAE signatory who holds Emirates ID or visa. Because of tightened KYC and AML regulations, banks may approve after more detailed vetting and after the authorized person physically visits a branch.

Because of these stricter rules, some offshore companies find the process more time-consuming and costly — especially if multiple documents need attestation and legalization.

Typical Timeline and Costs

• Preparation of documents and verification: This depends on your company structure. For simple mainland or free‑zone companies with local directors, this can be a few days. For foreign‑owned or complex-structure companies, gathering and legalizing documents may take 2–6 weeks.
• Bank review, KYC, AML compliance check: For many banks, this takes roughly 7–15 working days for mainland or free‑zone companies.
• Activation and account opening: Once approved, account activation and receipt of IBAN, online banking etc. can occur within a few days. Overall, companies can expect the process to conclude in 2–4 weeks, though more complex cases may take up to 4–8 weeks.

Cost wise: many banks do not charge an opening fee. However, because of minimum balance requirements and compliance overhead, there are “hidden costs” such as: attestation/legalization of foreign documents, travel costs (if a signatory must come to UAE in person), and potential minimum required deposit.

Common Challenges and How to Overcome Them

Challenge: Banks require physical presence of signatory in UAE

Many banks will not approve a corporate account unless you (or authorised signatory) visit the UAE branch in person.

Solution: Plan ahead for at least one trip, or appoint a trusted authorized signatory who is already resident in UAE (with valid visa and Emirates ID), using a power of attorney (POA) if allowed and accepted by the bank.

Challenge: Stringent KYC and AML Requirements

Especially for foreign‑owned companies or complex shareholding structures, banks may require detailed ownership disclosures, proof of source of funds, documentation on clients and suppliers, business plan, and more. This sometimes leads to delays or even rejection.

Solution: Prepare fully — disclose all ownership details, have audited financials or bank statements, prepare a clear business plan, and ensure all documents are properly notarized and attested if required.

Challenge: Meeting minimum balance or maintenance requirements

Banks may request a minimum account balance to avoid monthly fees or risk closure — especially relevant for SMEs or startups.

Solution: Choose banks with lower balance requirements or maintain sufficient funds. Alternatively, consider digital / fintech‑based banking solutions for startups until business grows.

Challenge: Free zone vs mainland complications

Some banks treat free‑zone companies with extra scrutiny due to foreign ownership or perceived lack of operational presence. Additionally, proof of office/physical address may not be as straightforward.

Solution: Ensure you have a valid lease or free‑zone office contract (even if a flexi‑desk or virtual office), and be ready to explain your business operations and structure clearly.

Tips to Speed Up the Process in 2025

• Start with a free‑zone or mainland company with simple shareholding — avoid complex corporate structures if possible at first.
• Choose a bank known to be business-friendly and flexible (e.g. banks with SME / startup‑oriented packages).
• Have a detailed, realistic business plan and proof of initial funding or business activity ready.
• Ensure all documents are correctly notarized and (where relevant) attested if they come from outside the UAE.
• If you are a foreign investor, consider appointing a UAE‑based authorised signatory to smoothen the “face‑to‑face” requirement.

Why You Should Consider Expert Legal Help

Given the many requirements — trade licensing, corporate documents, attestations, compliance, visa or residency status, verifying paperwork, and ensuring everything aligns with local regulations — the process can become complex, time‑consuming and sometimes frustrating.

Working with an experienced international law firm like Dewey & LeBoeuf LLP ensures:

• Proper preparation and review of all required documents (trade licence, MoA, shareholder registry, bank‑signatory authorizations, POA when needed).
• Guidance through compliance requirements (KYC, AML, corporate structure disclosures).
• Coordination of any needed attestation or legalization of foreign documents.
• Liaison with banks on your behalf, smoothing the process and reducing risk of rejection.
• Faster timeline, fewer delays or unexpected complications — especially valuable for foreign companies, startups, or companies with complex ownership structures.

If you plan to do business across Dubai, Abu Dhabi, Sharjah or any other UAE emirate you want your banking setup to be solid, compliant and efficient.

Frequently Asked Questions (FAQ)

Why Choose Dewey & LeBoeuf LLP to Assist You

As a premier international law firm serving Dubai, Abu Dhabi, Sharjah, UK, Singapore and Bangladesh, Dewey & LeBoeuf LLP offers you:

• Strategic advisory based on deep local and global regulatory insight.
• Expert handling of documentation, company formation, corporate governance and bank‑signatory authorizations.
• Coordination of attestation, legalization and compliance — critical for foreign investors and multi‑jurisdictional companies.
• Hands‑on support liaising with UAE banks to maximize your chances of approval in minimal time.
• Confidentiality, reliability, and integrity — giving you peace of mind as you expand or establish your UAE operations.

If you want to ensure a smooth, efficient bank‑account opening for your UAE company, it is wise to rely on professionals rather than risking delays or rejection due to missing or incorrect documentation.

Take Action Now

If you are ready to open a bank account for your UAE company — in Dubai, Abu Dhabi, Sharjah or any other emirate — contact Dewey & LeBoeuf LLP today. Whether you are already licensed or still forming your company, our experienced team will guide you through every step. Reach out now to schedule a consultation and let us handle the complexity so you can focus on growing your business.