We work with several banks in the UAE to open bank accounts for our clients’ companies. Opening an account remains complicated, regardless of the size of the company. It is therefore advisable to prepare the account opening file as best as possible so that the bank classifies this opening request as “low” risk.
A client will be classified by a “high risk” bank if:
– If his company is registered with a registry in the UAE badly reputed;
– The partner is not a resident of the Emirates;
– The future activity of the company is not clear or too general;
– The client has no professional experience or an unclear source of funds;
– The personal bank statements presented show a negative, weak or inconsistent balance with the future activity of the company.
In these cases, there is a real risk that the banker will refuse to open an account or request additional information, which will then require more time to open an account (minimum 1 month and a half …).
You will find below a description of several banks located in Dubai accepting the opening of accounts for companies registered in the UAE. Their names are not mentioned but do not hesitate to contact us to know their name.
| Bank A | Bank B | Bank C | Bank D | Bank E |
| Residence visa highly recommended. – E-banking available: yes, free. – Bank card: residence visa required, withdrawal limit of AED 10,000 per day. – Deposit min. to be made within 30 days of opening the account and average monthly balance to be kept on the account: AED 50,000 (otherwise penalty of AED 250 per month to be paid). – Account maintenance fees: free. – Opening times: approx. 1 week. – Remote opening: no. | Residence visa highly recommended. – E-banking available: yes, free. – Bank card: residence visa required, withdrawal limit of AED 10,000 per day. – Deposit min. to be made within 30 days of opening the account and average monthly balance to be kept on the account: AED 35,000 (otherwise penalty of AED 100 per month to be paid). – Account maintenance fees: free. – Opening times: approx. 1 week. – Remote opening: no. | Residence visa required. – E-banking available: yes, free. – Bank card available: residence visa required, withdrawal limit of AED 10,000 per day. – Deposit min. to be made within 30 days of opening the account and average monthly balance to be maintained on the account: AED 25,000 (Value Plus account) or AED 150,000 (Premium account). – Account maintenance fees: AED 100 per month. The Value Plus account requires insurance of AED 3000 for the first year. – Opening times: approx. 1 week. – Remote opening: no. | Residence visa required. – E-banking available: yes, billed AED 1,450 per year. – Bank card available: residence visa required, withdrawal limit of AED 10,000 per day. – Deposit min. to be made within 30 days of opening the account and average monthly balance to be maintained on the account: AED 200,000 (otherwise penalty of AED 300 per month to be paid). – Account maintenance fees: free. – Opening times: approx. 2 weeks. – Remote opening: no. | Residence visa highly recommended. – E-banking available: yes, free. – Bank card available: residence visa required, withdrawal limit of AED 10,000 per day. – Deposit min. to be made within 30 days of opening the account and average monthly balance to be kept on the account: AED 30,000 (otherwise penalty of AED 300 per month to be paid). – Account maintenance fees: free. – Opening times: approx. 1 week. – Remote opening: no. |