UAE banks usually request access to the original documents of the company wishing to open the business account in Dubai UAE. The list of these required documents may vary from bank to bank. However, the following documents are usually required:
- The incorporation certificate
- The incorporation note and statute
- The stock certificate
- The certificate of reputation or the letter of office
- The decision of the shareholder or the Board of Directors
- The copying of the shareholders' passport
- The personal bank statements of shareholders
- Proof of the residence of shareholders and signatories
Requirements for opening a business bank account
Suppose the institutional shareholder of the business that opens the account is not registered in the UAE. In that case, some of the above documents (such as a record of good conduct or work letter) may not be available within its range. In this case, the bank will decide on a case-by-case basis the documents it will demand instead.
Required and eligible documents for Foreigner
With simple, stress-free methods, open your business account with readily prepared documents and without hardship.
- Original passport/valid residence visa
- Companies, organizations, and government agencies will be required to provide additional relevant documents as needed at the time of application. Eligibility requirements: You must keep an account balance with a minimum of AED 50,000 per month.
The alternative banking with an international bank will allow you to open an international/overseas account before traveling. Still, most likely, no cheque book will be issued until the residency visa is issued, so it is best to check the bank about how long it will be taken to issue a cheque book, mainly if there are material obligations that must be completed at particular times such as paying the rental allowance, paying education fees and other things.