It is important to choose the right banking services provider for your business and there is a broad range of local and international banks located in the UAE.
Each institution has its own requirements when it comes to minimum deposits, bank charges and scope of services, and the application process can be stringent.
Requirements for opening an account usually include identity documents, signatories list, company structure overview and proof of address. A certificate of incorporation/trade licence is usually also requested as well as details of company directors. Most banks will also want to see a projection of company transactions, future profits and information clarifying the nature of the business.
For non-resident accounts, the Ministry of Foreign Affairs will need to certify documents.
When establishing banking arrangements in the UAE you will be required to physically sign for verification of your company bank account in the presence of the Banking Officer. Europe Emirates Group also advises on which bank will best serve your company requirements and will assist you with all administration processes.