A Complete Guide for Bank Account Opening in Dubai

Introduction 

Bank account opening in Dubai is crucial for every small and large size business. If you are opening a business in this flourishing business center you will get several options for corporate banks such as – conventional corporate bank accounts, Islamic corporate bank accounts, offshore corporate bank accounts, free zone corporate bank accounts, corporate investment accounts, and escrow accounts. Especially tailored according to your business needs and goals. 

Opening a bank in the UAE may be a complex process for foreign investors. A business setup consultancy can help you to open your account in the most popular banks in Dubai.   

Why is it necessary to open a business bank account in Dubai?

Having your bank account is necessary to start transactions in your business. Some of the top reasons for opening a Dubai bank account are listed here:

• Preserve your personal and financial responsibility
• Ease your tax-related process
• Enhance your company credit score
• Expand your business growth

Process of opening a business bank account in Dubai for non-residents

Opening a bank account in Dubai requires completing some key steps carefully. Arab Business Consultants is a leading business consultancy in the UAE that can ease your bank account opening by following these major steps efficiently. 

Obtaining a business license

The first step is getting a company registration in Dubai. Without this significant document, no bank will acknowledge your company and won’t allow you to open a bank account. For a simplified and transparent process of gaining a company registration get in touch with the best business setup in Dubai. 

Certified documentation compliance

For corporate bank account opening in Dubai you require certain documents. It includes invoices, contracts, and specifications of your clients and suppliers all these documents work as evidence of your business. 

Add on documents

Supplier name, buyer name, and bank statements of shareholders from UAE (if capable). To open a business bank account in Dubai all these documents are required for an effortless and smoothen process.

Submitting your application

Fill out the application form carefully and submit it to the bank, avoiding any mistakes and delays.

Initial deposition

Certain banks require a starting deposition amount and curtains don’t. So if needed an initial deposition should be done timely. 

Account Activation

Once your initial document and disposition process is completed your business and corporate bank account in Dubai will get activated. 

All the processes and required formalities will be done completely from our end. Throughout the entire journey, an Arab Business Consultant will be here to assist you and ease the procedure for you. Our whole team handles all the communication and cooperation things with the bank organization. Along with bank account opening services, we will also offer you the best PRO services in UAE to ensure your business success. 

You don’t need to worry about Bank account opening in Dubai as we are a pre-eminent and experienced holder for handling all the documents and requirements. We do an in-house checking of all the documents and till the entire submission of it according to the obligatory requirements. 

Documents required for bank account opening in Dubai:

Entrepreneurs must have the following documents for the smooth opening of their accounts. 

• Authentic trade license
• Memorandum of Associations (MOA)
• Valid personal profiles and passport copies of shareholders
• 6 months’ bank statements of all the shareholders
• Residence visa copy of the chief signatory and Emirates ID
• Office tenure
• VAT certificate
• Utility bills for address proofs
• Credit and debit invoices

Conclusion 

A bank account opening in Dubai is not that easy. It requires in-depth preparation and the knowledge of the requirements and choosing the best bank according to your business’s economic needs. As mentioned above all the steps and documentation requirements and our help in each step will aid you in forming a firm banking base for your business. Partner with Arab Business Consultant and open your business bank account in Dubai. We are well known among certain popular business banks in Dubai such as First Abu Dhabi Bank (FAB), Emirates NBD, Emirates Islamic Bank, Dubai Islamic Bank (DIB), ADIB, ADCB, RAK Bank, and many more.

So what are you waiting for get connected with Arab Business Consultant for a smooth uninterrupted process. Your Bank account opening in Dubai for your business has been our work from the time since you Collab with us. Get your corporate bank account opening in Dubai from an expert’s hands.