Business Setup & Formation
Business Banking Support
Opening a bank account is one of the key steps after obtaining your business license in the UAE. We assist you in opening both local and international (offshore) bank accounts in Dubai. Our strong network with multiple banks allows us to guide Free Zone and Mainland companies smoothly through the account setup process.
Since each bank has different requirements such as minimum balance, documentation, and sector-specific criteria, the procedure can vary from case to case. Based on your business needs, we recommend suitable and reliable banking options. Along with standard documents, additional supporting papers may be required in certain cases, such as invoices, reference letters, or company background details. For branch companies, documents related to the parent company and its financials may also be requested.
We believe in building long-term relationships with our clients by working closely with government authorities and regulatory departments, ensuring a smooth and reliable business setup experience from start to finish. Our advisors are always available to guide you through unique business scenarios and provide clear, practical solutions.
Most banks in the UAE require maintaining a minimum account balance. Based on your business nature and financial requirements, we recommend the banks that best align with your needs.
If you require an Islamic bank account, we recommend Emirates Islamic or RAK Islamic. For businesses focused on investment or international trade, Al Masraf can be a suitable option. For standard commercial banking, there are several reliable choices including Emirates NBD, Mashreq Bank, First Abu Dhabi Bank (FAB), National Bank of Fujairah, Union National Bank, ADCB, and others.
The time required to open a bank account depends on several factors such as the type of business activity, business jurisdiction (Mainland, Free Zone, or Offshore), and the nationality of the authorized signatory. For example, in the Mainland, a General Trading license may require additional compliance approvals before the account can be opened, which can extend the timeline.
On average, for a standard Mainland company with all required documents in place, the account opening process typically takes around 10 working days.