Opening a corporate bank account in the UAE: what you need to know and how to get it right from the start

In this article, we break down how the process really works, what banks are looking for, what challenges you might face, and how the team at RSBM ensures our clients secure the right account — quickly, efficiently, and with full confidence.

A UAE bank account is the foundation of any operational business. Without one, you can’t receive payments, manage payroll, settle contracts, or even function in compliance with local laws. It’s not optional — it’s essential.

However, despite having a properly registered company, many business owners are surprised to find that their banking application is declined, often without any explanation. That’s because banks evaluate far more than your legal documents — and many international applicants fail to meet internal requirements they were never made aware of.

Any company legally registered in the UAE is eligible to apply for a business bank account, including:

• Mainland companies operating within the Emirates
• Free zone entities registered in economic zones
• Offshore companies structured for international operations

But eligibility doesn’t guarantee approval. UAE banks conduct thorough background checks — reviewing your business model, the source of your funds, your client base, the reputation of the shareholders, and how your company fits into global compliance expectations under AML and KYC regulations.

What documents are required? Each bank has its own checklist, but most will expect the following:

• Company incorporation documents
• Trade license and memorandum of association
• Passport copies and UAE visas for shareholders and directors
• Proof of business address (utility bill or tenancy contract)
• A clear business plan or activity description
• Bank statements of the shareholders
• Sample contracts with clients or suppliers (if available)

Complex corporate structures or offshore ownership may trigger additional scrutiny and documentation.

There’s a reason business owners often call this the most frustrating step in the setup process. Here are a few key hurdles to expect:

• Heightened compliance

In response to global financial transparency standards (including FATF recommendations), UAE banks have significantly tightened internal policies. Every detail is reviewed, and even minor discrepancies can delay or block the process.

• Rejections without justification

Banks aren’t obligated to provide reasons for declined applications. Common (unspoken) triggers include unclear business models, complex shareholder chains, or jurisdictions flagged as high-risk.

• Slow timelines

A straightforward application might take 2–3 weeks. For more complex cases, the process can extend to 6–8 weeks or more — especially if the bank requires additional reviews or interviews.

• Minimum balance requirements

Many banks require a monthly minimum balance — usually starting from AED 50,000 (approx. USD 13,500). Falling below that amount can lead to account suspension or penalty fees.

How RSBM ensures your application succeeds

At RSBM, we don’t just “assist” with account opening. We take ownership of the process, preparing your file with the same attention to detail we’d apply to our own business.

Here’s how we support you:

• We evaluate your company’s structure and potential red flags before you approach the bank
• We match your business with the right bank — factoring in your jurisdiction, currency needs, industry, and banking preferences
• We help you prepare and fine-tune the full document package
• We handle communication with the bank and prepare you for any compliance questions
• We provide hands-on support from start to finish — including post-approval tasks like online banking setup and data updates

Our goal is to make the process smooth, transparent, and fast — while significantly improving your chances of success. Opening a corporate account in the UAE isn’t just another administrative task — it’s a strategic move that can make or break your business plans. Delays, rejections, or missed requirements can result in weeks of lost time, missed deals, and financial risk. Don’t leave it to chance.

Let the experts at RSBM guide you through the process — and open the right corporate account for your business, with no stress, no surprises, and no unnecessary delays.