Banking, Tax & Accounting
Corporate Bank Account Opening in the UAE
A UAE corporate bank account is opened after the trade licence is issued and requires a full KYC review of owners, activity, expected turnover and source of funds. Preparation and choosing a bank that fits your sector matter more than speed, because weak applications are often declined.
Last reviewed · Reviewed by Mahmoud Mansour, Founder & Managing Director (lawyer in the UAE since 2006) · EH Management Consultancy LLC, Dubai
At a glance
Key facts about corporate Bank Account
- Prerequisite
- Valid trade licence
- Bank review
- KYC on owners, activity, turnover and source of funds
- Main risk
- Decline from incomplete or mismatched applications
- Often required
- Owner meeting or video call; residency may help
- Timeline
- Varies by bank compliance review
Who it is for
Is this the right service for you?
- Newly licensed companies
- Non-resident owners
- Companies changing banks
- Holding and offshore structures
Process
How it works, step by step
-
01
Profile your business
Document activity, customers, suppliers and expected volumes.
-
02
Select suitable banks
Match sector, ownership and turnover to bank appetite.
-
03
Prepare the KYC file
Assemble licence, ownership, contracts and source-of-funds evidence.
-
04
Submit and respond
Answer compliance questions quickly.
-
05
Activate the account
Complete onboarding, online banking and signatory set-up.
Documents
What you typically need
- Trade licence and company agreement
- Passport and Emirates ID of signatories
- Business plan or company profile
- Customer and supplier contracts
- Source-of-funds evidence
Cost
What drives the price
Fees depend on your situation, so we quote after a short consultation with no hidden extras. The main factors are:
- Bank account and minimum balance rules
- Monthly fees
- Document attestation
- Preparation service fee
Frequently asked
Questions about corporate Bank Account
Why do UAE banks decline corporate accounts?
Common reasons are unclear activity, high-risk jurisdictions, weak documentation and inconsistent source of funds. A prepared file reduces the risk.
Can I open an account before getting a licence?
Typically no. Banks need a valid trade licence to open a corporate account.
Can non-residents open a corporate account?
Often yes for licensed companies, though requirements vary by bank and may include a visit or video call.
Is there a minimum balance?
Many banks set minimum balances for corporate accounts. Compare terms before choosing.
Official sources
Verify it yourself
Rules and fees change. These government and regulator pages are the authoritative references behind this page.
Related services
Often needed together
Talk to an EHMC consultant
Tell us about your business and get a clear, written path with timelines and costs.