UAE Corporate Bank Account Opening in 2025: Requirements, Timelines & Troubleshooting

Introduction

A UAE corporate bank account is essential for invoicing, payroll, and compliance. Yet many new companies face delays or rejections due to incomplete KYC, unclear business models, or missing documents. This Mybiz guide walks you through requirements, step-by-step onboarding, timelines, and the red flags to avoid.

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Who can open a corporate account?

Most UAE-licensed entities (free zone or mainland) can apply. Approval is at the bank’s sole discretion and depends on:

• Activities & risk profile (e.g., trading vs financial services)

• Shareholding & UBO structure (simplicity helps)

• Residency status of signatories (having Emirates ID improves options)

• Office/Ejari or flexi-desk evidence

• Trade flows (countries, counterparties, volumes)

Document checklist (bank-ready pack)

Company

• Trade license, MoA/Articles, share certificates

• Establishment card (if applicable)

• Office/Ejari or lease agreement

• VAT certificate (if registered)

Owners & signatories

• Passport, visa, Emirates ID (if resident)

• Proof of address (utility bill/bank statement)

Business & compliance

• UBO chart and ownership %

• Source of funds/wealth letter

• Business plan or profile (activities, target markets, expected turnover)

• Sample invoices/contracts/LOIs from clients/suppliers

• Website or company deck (credibility)

• For traders: customs code, HS codes, logistics plan

• For regulated sectors (fintech, brokerage, crypto): relevant approvals

Need help compiling this? See UAE Corporate Services.

Step-by-step: how onboarding works

1. Pre-assessment — Mybiz reviews KYC, flags gaps, and shortlists suitable banks.

2. Application & KYC interview — Submit forms and documents; attend a banker meeting (onsite or video).

3. Compliance review — Sanctions screening, UBO verification, activity risk checks.

4. Approval & activation — Receive IBAN; set up online banking, cards, and channels.

5. Go-live — Fund the account, configure payments, and establish routine compliance.

Timelines you can expect

• Fast-track: 7–14 days (simple ownership, resident signatory, low-risk activity)

• Standard: 2–4 weeks (typical startups/SMEs)

• Complex: 4–8+ weeks (multi-layer ownership, cross-border high-risk trade, or regulated sectors)

Local vs international vs digital (at a glance)

Option	Opening speed	Typical min. balance*	Currencies	Meeting needed	Best for
Local UAE banks	Medium	Medium	AED + FX	Often	Onshore operations, payroll, cheques
International banks	Medium–Slow	Higher	Multi-currency	Usually	Cross-border groups, higher volumes
Digital/EMI accounts	Fast	Low	AED + limited FX	Often remote	Early stage, interim solution

*Min balance & fees vary by bank and package. Always confirm the latest terms.

Common reasons for rejection (and how to fix them)

1. Opaque UBO structure → Provide a clear ownership chart and IDs for each layer.

2. High-risk activity with no approvals → Secure relevant licenses/approvals first (e.g., Financial Services, Fintech, Blockchain/Crypto).

3. No proof of real operations → Show contracts/LOIs, website, marketing materials, and office/Ejari.

4. Non-resident signatory only → Add a UAE-resident signatory (where possible) to widen bank options.

5. Unclear trade flows → Provide a simple table of countries, volumes, INR/FX needs, and logistics partners.

6. Sanctions/PEP red flags → Prepare enhanced due-diligence evidence and compliance policies.

How much does it cost?

Bank fees & minimum balance requirements vary. Expect:

• Account package fees (often waived with min. balance)

• Online banking & card issuance (usually included)

• International transfer fees & FX margins

• Optional relationship packages for premium service

Pair your banking plan with the right license: see General Trading License, Tech Company Setup, or Logistics Setup.

Best practices to speed approval

• Use a single, consistent story across application, website, and contracts.

• Keep KYC evidence neat: one PDF per category, labeled clearly.

• Prepare for a site visit (some banks verify office presence).

• Keep turnover projections realistic; be ready to justify assumptions.

• Start with one strong bank; add secondary accounts after 3–6 months.
  

FAQs

Do I need a UAE residence visa to open a corporate account?Not always, but many banks prefer or require at least one resident signatory. Residency broadens your choices.

Can a free zone company open an account?Yes—most do. Ensure your activity and trade flows are clear, and provide office/flexi-desk evidence.

What if I’m still waiting for visas?Some banks start KYC early, but most will activate after you have license + establishment card (and often Emirates ID).

Can I bank without a physical office?Some banks accept free zone flexi-desks; others require Ejari. Mybiz matches you to the right bank based on your setup.