Bank Account Services in Dubai


Dubai is one of the leading international financial centers and among one of the fastest-growing cities in the world; this naturally makes it the hotspot for corporate banking. Dubai's stable financial market, strong bank secrecy, and low regulations make it a preferred city for banking over other financial centers.

At Commitbiz, our in-depth knowledge of banking protocols in the UAE and our excellent relationship with most international as well as local banks has helped hundreds of our clients successfully open a corporate bank account in Dubai, Abu Dhabi, and all other emirates.

What You Need to Open a Business Bank Account in Dubai?

The following documents are essential to open a corporate bank account after your business setup in Dubai:

  • Original documents of the company (COI, MoA, License, etc.)
  • Passport copy of shareholders and signatories [in case of corporate shareholding, a document of the parent company and a passport copy of the ultimate beneficial owner (UBO)]
  • Copy of UAE visa (resident or visit)
  • Presence of the signatories in Dubai to sign forms in the banker's presence

You may also be asked for the following:

  • Last six months' bank statement of the shareholders
  • Customary KYC questions.

What Are the Banking Benefits in the UAE?

  • Easy international access
  • Attractive interest rates
  • Zero taxation
  • Easy transfer of funds
  • Flexible investment period
  • Non-restrictive banking options
  • Asset management
  • Dedicated relationship manager
  • Phone and online banking.

How to Open a Corporate Bank Account in Dubai?

The requirement for opening a business bank account in Dubai varies from one bank to other. However, the presence of a major director or shareholder is needed. 

It may sometimes happen that the attorney may set up accounts on behalf of their clients, though this is not a common practice. Here are the steps to open a corporate bank account in Dubai –

Obtain a Business License

It is important to obtain a business license to open a bank account. The bank will not recognize a business if they don't obtain a business license in Dubai.

2. Get Documents in Order

The documents required to obtain a corporate bank account are mentioned above. The exact documents needed will differ from bank to bank. 

Some banks also require supporting documents like contracts or invoices, reference letters from a business partner, business plans, and information regarding intended business activities.

3. Check Visa Related Requirements

Check whether the company shareholders are required to have a residency visa. Some banks require proof of this from at least one shareholder, while others do not ask for it at all. 

So, the issue of whether or not your shareholders have residency visas in place may have a bearing on which banks you consider applying to. It's best to find out early which banks have these requirements, so it doesn't cause any delays to your application further down the line.

4. Choose a Bank

Once the documents are in place, the business must approach the UAE banks. The one that is right will depend on specific requirements. One should consider the following –

Eligibility Criteria

When choosing a bank in the UAE, it is important to consider that most banks require you to have a residence visa. Additionally, selected banks may request you to provide a local address in the UAE.


Most banks in the UAE require a continuous minimum balance. This can range up to AED 1m, though most start much lower. 

For example, Noor Bank offers three tiers of accounts with minimum balances ranging between AED 20,000 and AED 500,000.

5. Application Process

One can now begin the official account opening procedure. It is better to go physically to the bank rather than get in touch online. 

Or one can also take off a bank account opening specialist like Commitbiz. You have already got plenty of things to worry about when establishing a new business: make sure that setting up your corporate bank account isn't one of them.

Offshore Bank Account in Dubai| A Viable Alternative

If you are running a business in the UAE, you'd definitely like to take advantage of the benefits that come with a bank account here. If for some reason (like the nature of the business activity, nationality constraints, etc.), you aren't able to get a corporate bank account for your company in the UAE, we have good news for you!

You may opt for opening an offshore bank account in UAE instead. An offshore account in Dubai is one that is present in a country different from your location of business. 

It provides you with the same level of accessibility and benefits, plus more! Commitbiz is the approved introducer for ABC Banking Corporation, Mauritius. 

It provides the following facilities:

  • Minimum account opening deposit of just 5,000 USD (or equivalent)
  • Multi-currency accounts
  • E-banking
  • No statement or ledger fee
  • Free internet banking (both viewing and transaction).

Note: You need not get your documents attested for a second time for the offshore bank account.

Commitbiz – One-Stop-Shop for Opening a Corporate Bank Account in Dubai

Commitbiz is a registered firm that helps small, medium, and large companies as well as entrepreneurs. We take care of all the business requirements of our clients and assist them with company incorporation from start to end. 

The business development team from Commitbiz works towards limiting our clients' liabilities and ensuring that their assets are protected with free money repatriation and zero taxation, thereby ascertaining their business growth. We assist you with all matters related to opening a corporate bank account in Dubai, including preparing the bank account application forms and attending the bank interview on your behalf. 

We can also help you with opening an offshore bank account. For your bank account needs in the UAE, contact us today - we'd be happy to assist!

Frequently Asked Questions (FAQs)

Is it mandatory to deposit a capital in the bank for opening a company?

This used to be mandatory but not anymore. Capital deposit requirement has been waived by most of the licensing authorities/registrars in the UAE, except a couple of licensing authorities (like DMCC free zone, Abu Dhabi Department of Economic Development).

Do banks issue a debit/credit card after the company bank account has been opened?

Mostly not; but a few banks would issue a debit card if it is a singly owned company. Same with a credit card; most banks do not give credit cards. But a few would give it against a deposit.

Do banks in the UAE give cheque books for an offshore company bank account?


Can one open a multi-currency account in the UAE?

Yes; companies in the UAE can have accounts in different currencies like AED, USD, Euro, GBP, CHF, etc.

Is an offshore company eligible for letter of credit?

Offshore companies are not eligible for letter of credit (LC) or any other credit facilities from the banks.

What is the minimum balance required?

The balance requirements are kept in the form of monthly average balance. Some banks have the minimum monthly average cap as low as AED 10,000 or equivalent amount in any other currency.