Opening a corporate bank account in Dubai or anywhere in the UAE can feel complicated if you’re not prepared. Every bank has slightly different requirements, but there is a core set of documents you will almost always need.
Full Checklist Required Documents for Corporate Bank Accounts in Dubai
Opening a corporate bank account in Dubai or anywhere in the UAE can feel complicated if you’re not prepared. Every bank has slightly different requirements, but there is a core set of documents you will almost always need. Having everything ready will save time and reduce stress.
Company Registration Documents
These papers show that your company is officially registered and allows us to do business:
- Certificate of Incorporation / Registration – This is issued by the government authority in your country (UAE or another country) and proves your company is legally registered.
- Memorandum & Articles of Association (MOA / AOA) – These documents explain how your company is structured, who owns it, and how it operates.
- Trade Licence – Required if your company is registered in a UAE free zone or on the mainland. It confirms your business activities are approved.
- Board Resolution – A formal letter from your company’s board approving the opening of a bank account and naming the people who can sign on behalf of the company.
Tip: If your documents were issued outside the UAE, they usually need to be attested or notarized to be accepted by banks and authorities.
Shareholder and Director Information
Banks want to know who owns and controls the company. Common requirements:
- Passport copies of all directors and shareholders
- Emirates ID for UAE residents (if applicable)
- Proof of residential address (utility bills, bank statements, or tenancy contracts)
- Personal CV or background information for directors in some banks
Financial and Business Information
Banks need to understand your company’s financial background and the reason for opening the account. You may be asked to provide:
Bank reference letters – Letters from your current or previous banks confirming that your company has maintained a good banking relationship.
Audited financial statements – Financial reports for the last 1–2 years that show your company’s income, expenses, and overall performance. If you don’t have audited accounts yet, management accounts may be accepted.
Business plan – A short document explaining what your company does, your main markets or clients, and the type of transactions you expect to make.
Source of funds declaration – A statement explaining where your company’s capital or investment money comes from (for example, sales income, investor funding, or owner’s capital).
Compliance & KYC Documents
UAE banks take compliance seriously. Prepare:
- Copies of contracts, invoices, or agreements to show business operations
- Details of expected transactions (monthly deposits/withdrawals, currencies)
- Identification for ultimate beneficial owners (UBOs) – anyone with ≥25% ownership
Additional Documents (Optional or Bank-Specific)
Some banks may ask for extra documents depending on your business type:
- License renewal documents
- VAT registration certificate if applicable
- UAE residency visas for company representatives
- Reference letters from professional contacts or business partners
Tips to Speed Up the Process
- Make sure all documents are translated into English or Arabic if needed.
- Use certified copies instead of originals unless requested.
- Prepare a clear business plan – banks often ask about trading activities and expected transaction volume.
- Check minimum balance requirements before applying – some accounts require AED 50,000+ to open.
- Be transparent with your bank about your business activities to avoid delays.
How to Choose If RAKEZ Is Right for You
Having the right documents ready is half the battle when opening a corporate bank account in Dubai. Whether you are a UAE company or a non-resident business, banks focus on legal proof, shareholder transparency, financial background, and compliance. Being organized and proactive will make your application smooth and fast.
- Corporate Bank Account Opening Assistance in Dubai – a comprehensive guide covering all account types.
- UAE Bank Requirements for Non-Resident Companies – details for international businesses opening a UAE account.
- Multi-Currency Corporate Bank Accounts in Dubai – for companies needing multi-currency transactions.
