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Opening A Bank Account in Dubai UAE

Bank Account Opening
in the UAE

Open a Bank Account in the UAE
Establish a bank account in the UAE, one of the world's most stable and secure countries

Full exemption from taxation of interest

UAE ranked World’s 2nd safest country in the World

Economic Stability 1 USD = 3.6725 AED since 1997

Security and Confidentiality

No currency exchange regulations

Multi-currency Bank Accounts

Dedicated Relationship Manager

User Friendly & Innovative Online Banking

Luxury Banking for High Net Worth Individuals and Companies

Access to Global Investment Opportunities

Convenient Digital Banking

Multicultural Environment

WE ARE HERE TO HELP

My Business Consulting DMCC is here to assist you with bank account opening in the UAE

Top banks in UAE

MAJOR LOCAL BANKS IN THE UAE

Here are the top local banks in the UAE based on factors such as assets, customer base, reputation and market presence. Below you will find the banking packages for premium clients:

Top Banks in UAE - Emirates NBD (ENBD)
Emirates NBD (ENBD)
  • Business Banking Plus – 200,000 AED (with RM)
  • Business Prestige – 500,000 AED (With RM)
  • Business Platinum – 3,500,000 AED (With RM)
Top Banks in UAE - First Abu Dhabi Bank (FAB)
First Abu Dhabi Bank (FAB)
  • Advantage – 250,000 AED (with RM)
  • Preferred – 500,000 AED (with RM)
Abu Dhabi Commercial Bank (ADCB)
  • Platinum – 500,000 AED (with RM)
Top Banks in UAE - Mashreq Bank
Mashreq Bank
  • Business Premium – 150,000 AED (with RM)
  • Business Platinum – 350,000 AED (with RM)
Top Banks in UAE - Emirates NBD (ENBD)
Emirates Islamic Bank (EIB)
  • Platinum – 250,000 AED (With RM)
Top Banks in UAE - RAKBank
RAKBank
  • Preferred – 500,000 AED (with RM)
Top Banks in UAE - Dubai Islamic Bank (DIB)
Dubai Islamic Bank (DIB)
  • Plus – 250,000 AED (with RM)
  • Premium – 500,000 AED (with RM)
Abu Dhabi Islamic Bank (ADIB)
  • Business Premium – 250,000 AED (with RM)
  • Elite – 1,000,000 AED (with RM)
Commercial Bank of Dubai (CBD)
  • Preferred - 350,000 AED (with RM)

TOP DIGITAL LOCAL BANKING SOLUTIONS

Not all companies can qualify for digital banking options. Qualifications depend on the structure of the company, risk assessments (jurisdiction, nationality, business activity), and UBO’s existing banking performance.

Logo of Mashreq Neo Biz
Mashreq Neo Biz
  • Prime – 50,000 AED (no RM)
RAKBANK business logo.
RAKBANK Digital Business
  • No average maintaining balance
  • Monthly fees of AED 150
Top Banks in UAE - Emirates NBD (ENBD)
Emirates NBD Digital On-boarding
  • Connect – 50,000 AED (no RM)
Wio Business logo.
WIO Business
  • No average maintaining balance
  • Monthly fees of AED 299
The My Business Consulting DMCC team.
How can we help?

Open a bank account in the United Arab Emirates with the help of our experts

With over 15 years of experience in opening all types of Bank Accounts in the UAE, My Business Consulting DMCC is able to leverage strong connections with the top UAE banks to meet all the requirements for the successful opening of a Bank Account in the UAE for both individuals and corporations. As a result of our hyper-personalized approach to all our clients, we have a 98% Bank Account Opening Success Rate since 2018.

With us you will get:

  • Comprehensive assessment of individual/corporate background before approaching banks.
  • Profile structuring and preliminary checks with relationship managers (RMs.)
  • Detailed list of bank options with corresponding fee structures and conditions.
  • Arrangement of exclusive meetings with bank officers.
  • Full assistance during application and interviews.
  • Preparation and organization of all required documents.
  • Regular follow-ups and updates.
  • Full assistance during compliance approval.
  • Additional support in post-bank account opening.
Service fees

Successfully open a UAE bank account with assistance of My Business Consulting DMCC

FeesServiceScope of Service
Package 1 – 500 USDIntroduction to BankerMy Business Consulting DMCC will provide list of trusted bankers in the UAE with following information:

  • Banker’s Email Address
  • Banker’s Mobile Number
  • Banker’s Location
  • Bank Tariff / List of Packages
  • Personal introduction via online call
Package 2 – Starting from: 1000 USDConsultation & AssessmentThe service includes:

  • Assessment of Company Structure and Operations
  • Assessment of Shareholder’s Background
  • Assessment of Affiliated Company
  • 1 hour Consultation after assessment (online or personal)
Package 3 – Starting from: 3000 USDComplete Assistance for Bank Account OpeningThe service includes:

Part 1

  • Assessment of Company Structure and Operations
  • Assessment of Shareholder’s Background
  • Assessment of Affiliated Company
  • Preliminary Consultation with Bankers about the company structure
  • List of Banks accepting the structure of the company with its conditions

Part 2

  • Preparation of Required Documents with a Company Profile specially designed for banks.
  • Coordination with Relationship Officer before Account Opening Application Meeting
  • Scheduling Meeting with Relationship Officer
  • Full Assistance during Bank Account Opening Application and Interview

Part 3

  • Assistance in Answering Compliance Questions
  • Regular follow-up for Compliance approval

Once the account is approved and activated, My Business Consulting DMCC will assist client in
obtaining the Debit Card & Cheque Book of the Company.

Bank account opening in UAE FAQs

As of 2022, there are over 50 local and international banks operating in the United Arab Emirates (UAE).

Emirates NBD (ENBD), First Abu Dhabi Bank (FAB), & Mashreq Bank

All banks in UAE, local and foreign, are safe and provide efficient services. However, local banks are more flexible with SME companies in terms of chances of getting the approval for Bank Account Opening in the UAE and credit facilities.

Banking in the UAE is considered safe due to robust regulatory oversight by the Central Bank of the UAE, which sets stringent standards for financial institutions. Additionally, many banks in the UAE have strong capital adequacy ratios and adhere to international best practices in risk management. Moreover, the UAE government has demonstrated a commitment to maintaining stability in the financial sector, providing further assurance to depositors and investors.

Current accounts are applicable only for UAE Resident signatories while Call Accounts are applicable for Non-UAE Resident signatories.

UAE local banks don’t charge any fees for Bank Account Opening.

Yes, UAE banks provide multi-currency Bank Accounts in AED, USD, Euro, GBP, CHF etc. There is the possibility to apply to the multi-currency Bank Account in most UAE banks without additional service fees or maintain a minimum, or average balance for the Bank Account.

You can apply for current (Resident) or call (Non-Resident) Personal Bank Account at any UAE local or foreign bank in the UAE. Choose the right bank which offers all the facilities you are looking for, and where you can qualify for their minimum maintaining balance requirement.

Yes, as a foreigner, you can open a Priority Personal Bank Account (Call Account) in the UAE with a minimum maintaining balance of 500,000 AED. In case you are not able to maintain such a balance, please proceed with processing your UAE Resident Visa to benefit from a current account with a minimum maintaining balance of 3,000 AED or a salary account without maintaining a balance.

Time frame varies depending on the type of account and background of the individual. Minimum time frame as follows:
Salary account 1-2 days
Current/savings/priority account 3-5 days

The initial documents to open resident bank account are as follows:

  • Physical / Original Emirates ID
  • Original Passport
  • Electronic UAE Residence Visa copy
  • Utility Bill issued within last 3 months for your UAE residential premises, rented or owned
  • Salary Certificate from employer or contract with the employer (for employees). For investors, it should be the latest corporate document, showing ownership in the company

Any bank may require additional documents based on their special requirements and submitted case.

The initial documents to open resident bank account are as follows:

  • Original Passport
  • Utility Bill issued within last 3 months for your UAE residential premises, rented or owned
  • Comprehensive CV / Resume
  • Document proving the source of the applicant’s income: 6 months personal bank statement and salary certificate if individual is employed outside UAE and/or corporate bank statement of existing business outside UAE if individual owns a company outside UAE.
  • Latest entry stamp in the passport in the UAE / Tourist Visa with Entry Stamp

Yes, you can have as many bank accounts as you like in different UAE banks. There are several reasons to have more than one Bank Account.

Yes, the presence of the signatory is mandatory to apply to Bank Account opening in UAE. The banker should verify the original passport and meet the signatory personally. This rule is valid for all UAE Bank Accounts: Resident, Non-Resident and Offshore Bank Accounts in the UAE.

The initial deposit must be equivalent to the chosen package’s minimum maintaining balance.

Please, check our expert blog to find out how to open a Corporate Bank Account in the UAE.

The time frame depends on the structure of the company, risk assessments (jurisdiction, nationality, business activity) and UBO’s existing banking transactions. Minimum time frame is 20 working days after the complete set of documents are provided.

Once the account is approved you will receive a Welcome pack with account details, access to online banking, debit card, and cheque book (if requested).

It is recommended to have at least 2 bank accounts in the UAE.

All main documents of the parent company such as Certificate of Incorporation, Memorandum and Articles of Association, Certificate of Incumbency or Extract of Registry, and Share Certificate must be legalized in the UAE at the Embassy of the issuing country and Ministry of Foreign Affairs (MOFA) in the UAE.

Still have questions? Please, contact our Experts in UAE Corporate Services and Bank Account Management for professional advice. Please reach us at [email protected] or call by clicking on the form below.

Let us help you succeed in the UAE

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