Bank Account opening in Dubai

The current economic stability in the United Arab Emirates, particularly in Dubai, is highly favorable for its financial institutions like banks. This has led to a lot of business owners and individuals showing interest in opening their personal and corporate bank accounts in Dubai to secure their financial assets. Dubai’s appeal has not gone unnoticed by international banks as well, which is why many of them are looking to establish their representative offices or branches in Dubai. All of these positive factors are contributing to the growing interest among international investors and business owners to keep their companies’ capital in the banks in Dubai.

How to Open a Bank Account in Dubai?

The process of opening a bank account in Dubai can be time-consuming and requires substantial documentation. The requirements for opening a bank account may vary among different banks in Dubai, but most of the standard banking services like current, savings and deposit accounts, and offshore accounts are offered by Dubai banks. It is essential to note that the procedure for opening a corporate bank account in Dubai may be different from bank to bank.
To ensure that the process of opening a bank account in Dubai is smooth and efficient, it is recommended to seek the help of experienced professionals who have gone through the process several times. However, having a general understanding of the Dubai bank account procedure is still important, and it is possible to find information on the topic to become better informed.

Presence Requirements for Opening Bank Account in UAE

In order to open a bank account in the United Arab Emirates, it is mandatory for the applicant to be physically present in Dubai. This is a requirement mandated by the legal procedures of the financial institutions in the UAE, as personal presence is necessary to verify the original signature of the relevant documents and confirm the identity of the applicant. Without fulfilling this requirement, the process of opening a corporate bank account in the UAE will be considered illegal.

Required Documents for Bank Account Opening in Dubai

Corporate Bank Account Opening for UAE Resident Sole Proprietorship Co.

To open a corporate bank account in the UAE as a resident sole proprietorship company, the following documents are necessary:

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Trade License
This document must be obtained from the local trade licensing office in Dubai and acts as proof of the existence of the business.
Rukhsa Manahiya Chamber of Commerce and Commercial Registration certificates
These certificates are not required if the trade license is a professional license.
Power of Attorney (POA)
In some cases, a manager or POA holder may be authorized to open and operate the bank account on behalf of the company. The POA must be a notarized document issued by the court and the Manager or POA holder must have the authority to do so.
Passport Copies of all Partners
The original passport copies of all partners must be submitted to the bank as a proof of identity.
Partnership Agreement
This agreement outlines the terms and conditions of the business relationship between the partners, including details such as profit sharing, responsibilities, etc.

It is important to note that in order to open a bank account in the UAE, the applicant must be physically present in Dubai. This is to confirm their identity and signature on the necessary documents.

Corporate Account for UAE Resident Limited Liability Company (LLC)

In order to open a bank account in Dubai, UAE for a corporate entity, the following documents are required:

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Trade License
This document must be a 3-page copy that provides information about the type of business and the individuals involved in it.
Passport copy of Local Emirati Sponsor
The passport of the local Emirati sponsor, along with a copy of the ID bara page, must be provided.
Passport copy of authorized signatory
The passport of the individual authorized to sign on behalf of the company must be submitted, along with a copy of the visa page or entry stamp page.
Memorandum of Association
This document outlines the purpose, objectives and responsibilities of the company, as well as the structure and ownership details.
Chamber of Commerce Certificate copy
This certificate provides information about the company's registration with the Chamber of Commerce and must be provided as part of the documentation process.
Power of Attorney (if required)
If the bank account is to be opened and operated by a Power of Attorney holder, then a notarized document issued by the court must be submitted. The Manager of a company can appoint a POA holder provided his name appears on the Trade License and the Memorandum and Articles of Association.

Note: If the Trade license is a Profession License (Rukhsa Manahiya), then the Chamber of Commerce and Commercial Registration certificates are not required.

Corporate Bank Account Opening for OFFSHORE COMPANY (RAK IC, JAFZA & AFZA)

The requirements for obtaining a certificate of incorporation in the UAE may include the following:

Corporate Account for UAE Free Zone COMPANY

To obtain an incorporation certificate or trade license in the UAE, the following documents may be required:

Corporate Bank Account Opening for FOREIGN COMPANY

It is possible for a foreign company to open a bank account in Dubai. A foreign company refers to a company registered outside of the UAE, regardless of whether it is an offshore company or an onshore company in any other jurisdiction. To open a bank account, all required documents must be legalized and attested by the UAE embassy in the country of origin and then by the Ministry of Foreign Affairs in Dubai. This process can be quite expensive.

The following documents may be required:

Dubai Bank Account – Chequebook

Having a Cheque book for a bank account in Dubai is a common practice and a convenient and secure way of making payments for individuals and businesses. However, to obtain a Cheque book for a corporate account, it is necessary for the investor to be a resident of the UAE. Banks typically do not issue Cheque books to offshore companies.


A Cheque book offers a simple and straightforward way of making transactions without the need for cash or online banking. The cheques can be written and deposited into another account, making it a secure way to manage money and reduce the risk of fraud. By using a Cheque book, individuals and businesses can keep a clear record of their transactions, which can be useful for financial planning and budgeting.

Bank Account in Dubai – Debit card

Having a bank account in Dubai also gives you the option to obtain a debit or credit card, which is a convenient and effective tool for conducting financial transactions. The debit cardholder can use the card to make payments through ATMs or payment terminals and withdraw cash from ATMs. The terms and conditions for using a debit card vary depending on the type of card and the bank in Dubai.


Debit cards are linked directly to your bank account, allowing you to access your funds quickly and easily. This makes them ideal for making purchases and paying bills, as well as for withdrawing cash when needed. On the other hand, credit cards allow you to borrow funds from the bank, usually up to a predetermined limit, which you can then repay with interest.


Having a debit or credit card from a Dubai bank provides you with the flexibility and security you need to manage your finances and carry out transactions with ease. Whether you are a resident or a visitor, having a card from a reputable bank in Dubai can make your life easier and your finances more manageable.

Dubai Bank Account – Online Banking System

Many individuals and businesses interested in opening a bank account in Dubai are particularly interested in the bank’s online banking services. In today’s fast-paced and globalized business world, having access to an online banking system is an essential tool for managing one’s finances from anywhere in the world. This is especially appealing to companies that need to transfer funds between accounts across the globe.


It’s worth noting that the online banking systems in the UAE are highly secure, making it a reliable and trustworthy method for conducting business transactions. These systems are designed to protect clients from fraudulent activities and provide peace of mind when it comes to their finances. Whether you’re a business owner or an individual, the online banking system in Dubai is an ideal solution for managing your finances with ease and security.

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