🏦 UAE Bank Account Opening Process

📌 1. Choose the Type of Account

• Personal Account: For residents or non-residents (non-residents face stricter conditions)

• Corporate/Business Account: For companies registered in the UAE (Mainland, Free Zone, or Offshore)

• Savings or Current Account: Based on your transaction needs

👤 For Personal Bank Account (Resident)

Requirements:

• Valid UAE residence visa

• Emirates ID (or application receipt)

• Passport and copy

• Salary certificate or proof of income

• Utility bill or tenancy contract (proof of address)

Steps:

1. Choose a bank (e.g., Emirates NBD, ADCB, Mashreq, FAB)

2. Visit a branch or apply online (some banks offer e-KYC onboarding)

3. Submit documentation and complete KYC

4. Account opening typically takes 2–5 working days

🏢 For Corporate Bank Account (Business)

Requirements:

• Valid Trade License (Mainland or Free Zone)

• Shareholders’ passports and visa copies

• Emirates ID (if applicable)

• Memorandum & Articles of Association (MoA)

• Company stamp

• Board resolution authorizing account opening

• Office tenancy contract (Ejari or lease agreement)

• Company profile and business plan

• Invoices/contracts or proof of existing business activity

• Source of funds and expected transaction volumes

🟡 Note: Banks may conduct background checks on shareholders/directors and require in-person verification.

Steps to Open a Corporate Bank Account:

1. Register your business (Mainland or Free Zone)

2. Choose the bank based on your needs (online banking, international transactions, multi-currency accounts)

3. Submit all required documents

4. Attend an interview with the relationship manager for KYC and due diligence

5. Wait for compliance review (usually 1–4 weeks depending on business activity and shareholder background)

6. Receive approval and activate your account

⏱️ Processing Time

• Personal Accounts: 2–5 working days

• Corporate Accounts: 7–30 working days (depending on complexity and bank)

💳 Popular Banks in the UAE

• Emirates NBD

• Abu Dhabi Commercial Bank (ADCB)

• First Abu Dhabi Bank (FAB)

• Mashreq Bank

• RAKBANK

• HSBC UAE

• Standard Chartered

📍 Special Notes

• Free Zone companies often find it easier to open accounts with partner banks in the same zone

• Offshore companies may face restrictions or may need to open accounts in other jurisdictions

• The UAE Central Bank has tightened compliance requirements, so proper documentation and transparency are critical