Your Access to the Financial System of the United Arab Emirates
A local bank account is an essential part of any business or living strategy in the UAE. Whether for your company, as an expat, or as an international investor – Adler & Partners professionally guides you through the account opening process. With our network of leading banks, you gain quick access to powerful account models, discretion, and stable financial infrastructure.
Business Account
A business account is mandatory for all companies in the UAE – whether Freezone, Mainland, or Offshore. It not only serves as a payment processing tool but also establishes your positioning with partners, authorities, and customers.
Advantages:
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Multi-currency support (AED, USD, EUR)
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Online banking & mobile access worldwide
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Corporate cards & checkbook options
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Access to credit lines and business loans
Requirements:
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Active business license
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Company formation documents and shareholder structure
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Proof of business activity (contracts, website, etc.)
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Emirates ID (depending on the bank model)
Private Account
A private bank account is straightforward to open for residence holders (e.g., investor, work, or family visa) in the UAE. It is used for salary processing, everyday payments, and asset management – both locally and internationally.
Advantages:
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Free account maintenance with many banks
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VISA/MasterCard debit cards included
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Mobile apps & 24/7 online banking
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High discretion & privacy
Requirements:
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Valid visa & Emirates ID
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Rental contract or address proof in the UAE
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Proof of income (e.g., salary slip or company earnings)
Required Documents for Account Opening in the UAE
For the successful setup of a business account in the United Arab Emirates, careful document preparation is crucial. Adler & Partners guides you through the entire process, ensuring that your documents meet the current requirements of the banks.
The following documents are typically required:
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Company documents: Including license, articles of association, and commercial register extract
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Visa & Emirates ID: For all shareholders or authorized persons
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Resumes: Professional background of shareholders
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Bank statements: From the last 3-6 months from the country of origin or a reference bank
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Address proof: Rental agreement or recent utility bill
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Company profile: Details about activities, target market, customer structure
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VAT registration: Especially for domestic transactions
Procedure for Opening a Corporate Account in the UAE
Opening a corporate account in the United Arab Emirates requires diligence, experience, and structured preparation. Adler & Partners ensures that you navigate this process efficiently, accurately, and with minimal time investment.
01
Gathering all formation and company documents
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Choosing a suitable bank based on your business structure
03
Passing KYC and compliance checks (on-site or digital)
04
Personal signing of the account opening documents
05
Depositing the required minimum capital (depending on the bank model)
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Activating the account & receiving access details and banking tools
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Frequently Asked Questions
Specific requirements may vary depending on the bank, but generally, you will need the following documents:
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Completed application form for opening a bank account
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Company formation documents
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Business license and trade certificate
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Memorandum and Articles of Association
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Proof of address for the company and its shareholders/directors
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Copies of passports and residence visas for shareholders/directors
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Business plan and financial statements
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Introduction letter from the company sponsor or a reputable reference
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Yes, foreign companies can open business bank accounts in the UAE. However, they must submit the required legal documents and meet the bank's requirements.
The timeline can vary depending on the bank and the completeness of your documents. It can take anywhere from a few weeks to a few months.
Many banks require at least one signatory or representative to be physically present in the UAE to open a business account. However, some banks also offer the possibility to open an account remotely.
Yes, most banks in the UAE have minimum deposit requirements for business accounts. The amount can vary depending on the bank and the type of account you choose.
Yes, many banks in the UAE offer multi-currency accounts, allowing you to hold and transact in various currencies. Popular multi-currency accounts are often available in AED, USD, Euro, and CNY.
You can open both resident and non-resident bank accounts. A residence visa is required for a resident account, but it is not necessary for a non-resident account.
Yes, if you are an employee and resident in the UAE. For example, First Abu Dhabi Bank (FAB) offers customers convenient online applications without the need to visit a branch, and provides free card delivery after account opening.
Almost all local banks in the UAE offer Islamic banking services. For example, you can obtain Islamic services from Dubai Islamic Bank, FAB, Mashreq Bank, Emirates Islamic Bank, and others.
When selecting a bank for opening an account in the UAE, there are several key factors to consider to ensure the bank meets your financial needs and preferences. Here are some important considerations:
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Bank's reputation and reliability
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Bank services and products
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Fees and costs for various banking services
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Online and mobile banking
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Branch and ATM network
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Customer support
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Currency options
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Security measures
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Islamic banking options
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Minimum balance requirements
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Overseas banking services
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There are certain regulations for transfers, especially for large amounts. It is advisable to consult your bank to get information on any specific restrictions or reporting requirements.
Bank fees can vary depending on the bank and the services you require. Common fees include account maintenance fees, transaction fees, currency exchange fees, and transfer fees. It is important to discuss the fee structure with the bank before opening an account.
Yes, most banks offer online banking features that allow you to conveniently manage and access your business account remotely.
Many banks offer credit cards and financing options for business account holders. The availability and terms of credit products may vary from bank to bank.