Your business

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Check your bank account opening eligibility.

Please select your nationality

Do you currently own a business in the UAE?

YesNo

What is the activity of your existing business?

What kind of office space do you currently have?

Traditional OfficeCo-Working Space

What Type Of Business Would You Like To Start?

How Soon Are You Looking To Set Up Your New Business?

We Regret To Inform You That WE ARE UNABLE TO CONTINUE YOUR APPLICATION For A Corporate Bank Account In Accordance With Current Regulations

Your business

Step 1

Step 2

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Check your bank account opening eligibility.

Enter your name

Enter phone number

Enter your email

Your business

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FAQs

Got Questions? We got Answers !

Banking and Finance in the UAE offer many options for expat entrepreneurs. With its robust and advanced financial infrastructure, the UAE provides a favorable environment for business endeavors.

What is the purpose of the Corporate Bank Account Opening Eligibility Checker?

The tool is designed to help businesses determine their eligibility for opening a corporate bank account in the UAE.

What information does the tool require for the eligibility check?

The tool asks for your nationality, details about your existing or planned business in the UAE, including the business type and timeline for setting up your business.

What happens after completing the information on the tool?

Upon submitting the information, the tool either informs you of your eligibility for opening a corporate bank account or, if ineligible, indicates that your application cannot proceed as per current regulations.

Are there different types of corporate bank accounts that one can apply for?

Yes, the tool mentions the possibility of applying for different types of accounts, such as a Digital Bank Account or a Regular Bank Account, based on your eligibility.

What are the next steps after finding out about eligibility?

If eligible, the tool prompts you to share your contact information so that one of our business setup advisor can contact you directly to assist with the account opening process.

Are there any nationality restrictions for opening a corporate bank account in the UAE?

While there are no explicit nationality restrictions, banks in the UAE have stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This may make account opening more challenging for non-residents, foreign companies, and businesses from certain countries.

What are the general requirements for opening a corporate bank account in the UAE?

To open a corporate bank account, you’ll need to submit various documents related to your identity, business, and residency. This includes a passport copy, UAE visa, reference letter from a bank in your home country or another country, recent bank statements, and relevant business documents. Compliance with KYC norms and Central Bank of UAE regulations is also required.

Is it necessary to have a resident visa to open a corporate bank account in the UAE?

Most banks in the UAE accept account applications from non-residents, though there may be certain limitations. For example, non-residents might only be able to open savings accounts and may not be issued cheque books. They also need to maintain a minimum account balance to avoid penalties and charges.

What are the banking requirements and restrictions in the UAE?

Banks may have minimum balance requirements for corporate accounts, which can be quite high, and failure to maintain this may result in fees. It’s important to be aware of all potential charges, including transaction fees and international transfer charges. Online banking services, customer service quality, the bank’s network and international presence, currency options, credit facilities, and the bank’s reputation are also crucial factors to consider.