Opening a corporate bank account in the UAE is one of the most important things that any company should do in Dubai, Abu Dhabi, or any other emirate.
Whether the company is a new startup, an SME, or even a multinational corporation, business bank accounts in the UAE ensure credibility, compliance, and seamless financial transactions.
At FAR Consulting Middle East, we specialize in corporate account opening services UAE and offshore corporate bank account opening services. We assist our clients through every stage with precision and authority.
Request A ProposalA corporate bank account in UAE is not merely a financial instrument but also a legal and operational requirement. In most cases, a bank account will be needed for payroll, VAT, and tax compliance. All opening accounts will be subject to the regulations of CBUAE as well as individual bank policies regarding risk and compliance.
The major reasons why every business requires one include:
Be it a startup, an SME, or a multinational company, a corporate bank account in the UAE for new business is the base of sustainable growth.
Businesses in the UAE can choose (depending on their structure and goals) between onshore corporate bank accounts and offshore corporate bank accounts.
| Feature | Onshore Corporate Bank Account UAE | Offshore Entity Bank Account (UAE) |
| Jurisdiction | Mainland & Free Zone companies | Offshore entities (such as RAK ICC, Ajman Offshore or JAFZA) |
| Purpose | Local operations, payroll, vendor payments | International trade, holding structures |
| Compliance | Strict UAE KYC & AML checks | International AML & OECD standards |
| UBO Disclosure | Transparent disclosure of Ultimate Beneficial Owner (UBO) is mandatory. | Transparent disclosure of UBO is mandatory. It must align well with UAE and international regulations. |
| Taxation | Subject to UAE corporate tax (9% for taxable profits above AED 375,000 ) | Tax treatment depends on UAE corporate tax rules and treaties; may be tax‑efficient but not automatically exempt |
| Accessibility | Easier for resident shareholders | More complex for non-residents |
Requirements for opening Corporate Bank Account in UAE
UAE banks operate strictly in adherence to CBUAE Rulebook C1/2021 and updated AML guidelines. To obtain a corporate banking account in UAE, the businesses will have to provide:
Supplementary requirements may include:
Note: Minimum balance requirements for corporate bank accounts in UAE differ depending on the bank, and changes may occur. Please confirm the correct amount with the bank of your choice before account opening.
Our UAE corporate account opening consultancy ensures that all the documentation is correct and meets compliance standards so that the rejection risks are minimized.
The process of opening a corporate bank account in the UAE seems to be a difficult task, yet if guided properly its setting up will be smooth and structured.
FAR Consulting Middle East ensures that each step will be adhering to CBUAE regulations and International AML/KYC standards. Here are the following steps on opening a corporate bank account in UAE:
The choice of the right bank is the first and foremost step. Each bank in the UAE has different requirements, different risk policies, and minimum balance rules.
For a bank to confirm the legitimacy of your company, they require a full set of documents to be submitted; these generally consist of:
Note: For delays, missing or inconsistent documents are the most common reasons. Our corporate account opening consultancy in UAE ensures that everything is complete and accurate before it is submitted for submission.
Submission of application forms comprises:
The application will then be submitted to the chosen bank when everything is ready.
Banks are required to conduct business according to the CBUAE Rulebook C1/2021, CBUAE Guidance on Customer Due Diligence (CDD), and other international standards like the FATF. In addition to this, they will:
For offshore corporate bank account opening services, the checks become stringent, particularly for non-resident shareholders. FAR Consulting provides transparency and proper record keeping to meet these standards.
According to the Account Opening rulebook of the Central Bank of the UAE (CBUAE), banks must open an account in 3 business days for low-risk applicants with standard due diligence if all necessary information is duly disclosed, and all documentation is complete.
If further compliance checks are required, such as AML, sanctions screening, enhanced due diligence, or verification of documents, the bank may take longer than 3 business days to complete account opening formalities.
Note: In practice, timelines may vary depending upon the bank and business type. Some accounts are opened in a few days, while others may take weeks.
As soon as approved, the account is activated and ready for use. This will include:
Securing a bank account for startups UAE is an important compliance step for startups that facilitate the smooth running of operations and enhance credibility with investors and partners.
“Offshore corporate bank account” means an account opened by an offshore entity (such as RAK ICC or JAFZA Offshore) with a UAE onshore bank or abroad. An offshore corporate bank account establishes the global flexibility and confidentiality that international entrepreneurs and holding companies require.
FAR Consulting Middle East specifically tailors offshore corporate bank account opening services that apply both to local and international compliance standards for the UAE.
With FAR Consulting Middle East, clients now enjoy assistance in balancing offshore company bank account opening with compliance. In addition, they can ensure smooth operations and long-term growth.
Opening a corporate bank account in the UAE or an offshore company bank account is not that easy, as each bank generally has its own compliance standards. At FAR Consulting Middle East our experts’ combines legal expertise, regulatory knowledge, and practical banking experience.
Key reason to choose us:
Setting up a corporate bank account in the UAE (or a bank account of an offshore company) becomes essential for conducting financial businesses and legitimizing compliance. FAR Consulting Middle East offers corporate banking services in the UAE, along with legal, regulatory compliance, and other practical support.
Whether you need a startup bank account in the UAE, help with an offshore company bank account, or full corporate account opening services in the UAE, our team makes the process simple, compliant, and efficient.