BANK ACCOUNT OPENING IN UAE


Opening bank account is a procedure that requires certain specific knowledge in this field. Opening a bank account in UAE  is available for all people older than 21 years old. The are no formal restrictions for an applicant to open an account, however the bank bares the right to ask for the additional documents if necessary.


The banks prefer opening corporate accounts for companies registered in UAE higher than for companies registered in other jusdictions. Besides, the procedure of opening an account for an FZE, FZC, LLC is rather easy in companison with offshore companies.

The necessary documents required to submit for an account opening are
1) Passport copy with the entry stamp (copy of residence visa if  applicable)
2) Bank reference from any bank confirming the existence of bank account of the applicant
3) Bank statement of the applicant’s personal account showing the movement of funds
4) Corporate documents in original
5) Utility bill confirming the address of residence (can be from home country)
6) CV describing professional experience

Our team will prepare the necessary documents on the most favorable way and follow up the account opening process in the bank. The process may take from 10 days. 

 

The cost of bank account opening is USD 950 for corporate, and  USD 600 for personal accounts.