Open a bank account in UAE

The UAE’s financial services sector fares admirably well despite the global crisis. UAE banking institutions offer their customers reliable account service, full confidentiality, high liquidity, and a stable dirham. With a UAE residence visa, you can have a corporate or personal account opened for you in any Emirates bank.

Corporate account

If you plan to do business through a corporate bank account in the UAE, keep in mind that it matters where (which FTZ) your company is registered and what type of business it is engaged in. In most cases, it also matters whether you have a physical office. When an account is being opened for a foreign legal entitiy, the owner of the business has to be physically present to sign the papers. The company type makes all the difference: whether an offshore business, a freezone establishment, or a local/mainland company.

A bank account costs

$3,000 to open

Personal account

Individuals are advised to open their accounts with local rather than foreign banks. It is easier to open a personal account than a corporate one: the list of required documents is much shorter. If you are not familiar with UAE laws and this is your first account there, you would be well advised to defer to professionals.

A bank account costs

$2,000 to open

Account opening steps

  • Consultation with AWATERA relocation agents

    AWATERA offers a turn-key service designed to assist you with opening your business overseas. We will assist you with the choice of a suitable bank, help you make a list of required submissions, and explain the legal aspects of banking and use of funds in the UAE.

  • Preparation of documents

    You will be asked to prepare a set of documents according to the bank’s list, and send them to the bank for review. It is advisable to seek professional assistance to make sure the bank issues a favorable determination on your submissions.

  • Interview with the bank's manager

    UAE banks espouse a system they call Know Your Customer, which implies that the potential customer has a duty to answer all questions asked by the bank to the bank’s satisfaction. The idea behind this system is to have better control of transactions and minimize risk exposure.

Our Clients' FAQ

  • It doesn’t have to have an office.
  • No audits in some free trade zones.
  • Less paperwork and less money to pay when setting up your company.
  • Ideal for freelancers and small businesses.
  • No limitations on types of business
  • A mainland company can sell its goods anywhere in UAE territory.
  • Higher upfront expenses, but potentially lower expenses going forward as opposed to a freezone company.
  • Ideal for mature businesses with a payroll.

The list of documents for registering a company is slightly different in each specific zone.

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We have already helped

    • Done
    • Opened a company
    • Help with license registration
    • Opened an account in a certain bank
    • Picked up an office for rent
    • Prepared documents for the relocation of employees
    DoDo pizza company got a new market for business development, launched a franchise in Dubai and many other texts, if it is possible to get some results from the client

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