Bank Account Opening in Dubai

Abu Dhabi Mainland is an ideal location for starting a business, offering full foreign ownership in many sectors and access to the entire UAE market. Unlike free zones, businesses here can operate across the Emirates and work directly with local and government clients, including big government contracts.

With easy registration, profit repatriation, and low taxes, Abu Dhabi Mainland is a strong choice for both new and experienced business owners.

Hassle-Free Account Setup
Global Banking Access
Multi-Currency Account Options
Secure Online Banking
Fast Approval Process

Corporate Bank Account

Personal Bank Account

Non Resident Bank Account

Offshore Bank Account

Savings Account

Required Documents for Issuing Abu Dhabi Mainland License

Current Accounts

Designed for daily use, current accounts offer quick access to funds, chequebooks, debit cards, and online banking. Minimum balances typically start at AED 3,000, making them ideal for residents and businesses needing frequent transactions.

Savings Accounts

These accounts help individuals and businesses save money with interest, though they often have withdrawal limits. Minimum balances start at around AED 5,000, offering a secure way to grow funds over time.

Business Accounts

Tailored for business needs, these accounts support payroll and supplier payments, and they come with multi-signatory access and advanced online tools. Documentation like a trade license and a minimum balance (AED 25,000 to AED 500,000) are usually required.

Investement Accounts

Perfect for those looking to grow wealth, these accounts allow for investments in stocks, bonds, and real estate. They have higher balance requirements and management fees, and they require compliance checks, including proof of funds.

Offshore Accounts

Offshore accounts are for non-residents seeking multi-currency options and confidentiality. They come with higher balance requirements and strict compliance, including document attestation and, in some cases, a local representative for chequebooks.

Emirates NBD Bank

Emirates blamic Bank

Mashreq Bank

First Abu Dhabi Bank (FAB)

RAKIBANK

Steps to Open a Bank Account in Dubai

Obtain a Business License

A valid business license from Dubai’s Department of Economic Development (DED) or a free zone authority is essential to verify your business’s legal status.

Select a Bank

Choose a bank that aligns with your needs, such as Emirates NBD or Dubai Islamic Bank, considering factors like fees, minimum balances, and online banking features.

 

Prepare Your Documents

Gather essential documents like the trade license, Memorandum of Association (MOA), Articles of Association (AOA), passport copies of shareholders, and Emirates ID (if applicable). Offshore entities may need document attestation.

Activate Your Account

Upon approval, activate the account by meeting the minimum balance requirement, typically between AED 25,000 and AED 500,000, based on the bank and account type

Compliance Checks

UAE banks conduct KYC and AML checks, which may include verifying shareholder backgrounds and business sources of funds.

Submit Your Application

Visit the bank to submit your application, where a primary shareholder may need to sign in person and verify documents. Banks may also ask for details about your business operations and expected transactions.

Benefits of Opening a Bank Account in Dubai, UAE

Financial Benefits

Enhanced Credibility

Stability and Security

Investment Opportunities

Global Transactions

Credit Facilities

Legal Structures for Company Formation in Abu Dhabi Mainland

Sole Proprietorship

Ideal for individual entrepreneurs who want full control and profit retention. Foreigners may need a UAE national as a local agent for government-related processes.

Limited Liability Company (LLC)

Popular due to limited liability, where shareholders are only liable up to their investment. Supports up to 50 shareholders and allows full foreign ownership in many sectors.

Partnership

Reserved for UAE nationals, with partners fully liable for business obligations. Suitable for businesses where partners share responsibilities.

Limited Partnership

General partners manage and are fully liable, while limited partners only invest and have liability limited to their investment. Appeals to passive investors.

Public Shareholding Company

Best for large businesses needing significant capital. Requires at least 10 founders, with UAE nationals owning at least 51%. Shares can be publicly traded.

Private Shareholding Company

For medium to large companies, requiring at least three shareholders and a minimum capital of AED 2 million. Shares are not publicly traded, allowing controlled ownership.

Joint Ventures

A flexible partnership between local and foreign entities, operating under a UAE partner’s name. Allows foreign investors market access with shared ownership.

Branch of a Local (UAE) Company

Branches of UAE companies allow local entities to expand operations across Abu Dhabi and beyond, conducting business under the parent company’s framework and complying with UAE regulations.

Branch of a Foreign Company

Enables international companies to operate in Abu Dhabi without creating a new legal entity. Operates under the parent company’s authority and local laws.

Foreign Representative Office

Used mainly for market research and promotions, without direct sales. Ideal for companies testing the UAE market with minimal operational commitment.

Steps to Open a Bank Account for Non-Residents in Dubai

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01

Prepare Identification and Address Proof

Submit your passport with a UAE entry stamp or residence visa and a recent utility bill or bank statement.
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02

Obtain a Bank Reference

Provide a reference letter from your bank and six months of bank statements.
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03

Meet Minimum Balance Requirements

Maintain a minimum balance of AED 200,000 or invest in bank products for zero-balance accounts.
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04

Select Renewal Method

Choose a savings or investment account with ATM or debit card access based on your needs..
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05

Complete Application and Compliance Checks

Apply and pass compliance checks following UAE’s anti-money laundering rules,

Types of Bank Accounts Available in Dubai

Current Accounts

Designed for daily use, current accounts offer quick access to funds, chequebooks, debit cards, and online banking. Minimum balances typically start at AED 3,000, making them ideal for residents and businesses needing frequent transactions.

Savings Accounts

These accounts help individuals and businesses save money with interest, though they often have withdrawal limits. Minimum balances start at around AED 5,000, offering a secure way to grow funds over time.

Business Accounts

Tailored for business needs, these accounts support payroll and supplier payments, and they come with multi-signatory access and advanced online tools. Documentation like a trade license and a minimum balance (AED 25,000 to AED 500,000) are usually required.

Investement Accounts

Perfect for those looking to grow wealth, these accounts allow for investments in stocks, bonds, and real estate. They have higher balance requirements and management fees, and they require compliance checks, including proof of funds. .

Offshore Accounts

Offshore accounts are for non-residents seeking multi-currency options and confidentiality. They come with higher balance requirements and strict compliance, including document attestation and, in some cases, a local representative for chequebooks.

Bank Account Opening Consultants in Dubai

How Leaders HUB Consultancy Can Help?
Leaders HUB Consultancy is renowned as one of the top business setup consultants in Dubai, with over 15 years of experience facilitating a wide range of businesses throughout the UAE. Our deep connections with government officials and key authorities, combined with our extensive expertise in consultancy, streamline the process of establishing your business in Dubai. Additionally, we offer comprehensive financial, legal, and corporate services to support our clients throughout their business endeavors.

We are here to provide comprehensive support for your Bank Account Opening in Dubai, from preparing your documents to completing the process. Connect with us now to begin your journey with a FREE consultation!

ASK WHAT YOU WANT TO KNOW

FAQS

Which bank is best in Dubal to open an account?
Emirates NBD, Abu Dhabi Commercial Bank (ADCB), and Dubai Islamic Bank are popular for their extensive services, international reach, and user-friendly digital platforms.

How much money do I need to open a bank account in Dubai??
Deposit requirements vary; some banks offer zero-balance options, such as Mashreq Neo and Liv by Emirates NBD for residents.

Can a foreigner upen a bank account in Dubai?
Yes, foreigners can open accounts, typically limited to savings or investment accounts, with higher minimum balance requirements.



Can I open a bank account online in Dubai?
Many banks offer online account setup, though non-residents may need to visit a branch for final identity verification.

Which bank account should I open in Dubai?
Emirates NBD offers versatile accounts for expats, ADCB is preferred for business accounts, and Dubai Islamic Bank is known for Sharia-compliant options.

Can I open a bank account in Dubai with a tourist visa?
Non-residents with a valid passport and address proof can open savings accounts, though tourists face stricter eligibility requirements.



Which bank is best for non-residents in the UAE?
Dubai Islamic Bank and ADCB offer suitable options for non-residents, especially those interested in Sharia-compliant accounts.



Can I open a zero-balance account in Dubai?
Yes, banks like Mashreq Neo, FAB’s iSave, and Liv by Emirates NBD offer zero-balance accounts for residents.

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