A corporate bank account is essential for operating your UAE company, and banks apply careful due diligence before accepting new clients. Each bank has its own criteria, so preparation is the most effective thing you can control.
What banks typically ask for
- Trade licence and constitutional documents
- Passports and residency details of shareholders and signatories
- Proof of address for shareholders
- A business profile describing activities, clients and suppliers
- Information on source of funds and, in some cases, source of wealth
- Expected account activity and countries you will transact with
What makes an application stronger
Consistency is critical. Activities on your licence, the description in your business profile and the transactions you expect should all tell the same story. Gaps or contradictions usually lead to additional questions and delays.
Choosing banks that match your profile — your activity, jurisdiction, transaction volumes and currencies — also matters. Not every bank is a good fit for every business.
