How to Open a Business Bank Account in UAE | Online Guide 2025

If you’re a business owner or entrepreneur aiming to grow in the UAE, you’re in the right spot. Dubai, a top global financial hub, draws businesses with its strategic location, welcoming business climate, and sophisticated banking infrastructure. Whether you’re managing a company, conducting international transactions, or safeguarding your finances, a UAE business bank account is essential. For both entrepreneurs and expatriates, opening a bank account offers convenience, access to multiple currencies, international transfer options, and professional banking services.

Many businesses and employers in the UAE need a local account for company operations or salary deposits, so it is a functional necessity.

What is Business Bank Account ?

A business bank account is a company account used to manage payments, salaries, and transactions separately from personal finances. Different from individual accounts, a business account is designed for handling payments to suppliers, receiving customer payments, processing salaries, and managing day-to-day company expenses.

Why the IBAN System Is Important in the UAE

Since 2012, electronic payments in the Emirates have been obligatory under International Bank Account Number (IBAN) for all electronic payments. Controlled by the National Central Bank, the IBAN system minimizes errors, accelerates transactions, and facilitates secure remittances, salary transfers, and business payments.

Types of Business Bank Accounts in the UAE

The UAE provides various types of accounts to cater to individuals and businesses:

• Personal Accounts – Daily banking, chequebook, debit card, and online access.

• Corporate / Business Bank Accounts – Structured for business transactions with more withdrawals and minimum balances.

• Savings Accounts – Profit-based, flexible balance options, and promotional advantages.

• Salary Transfer Accounts – Designed specifically for employees to take their salaries with fewer fees and benefits.

• Specialized Accounts – Islamic banking, foreign currency accounts, children’s savings, and senior citizen accounts.

For enterprises, a company account is essential to run the operations, client remittances, and foreign remittances.

Eligibility to Open a Business Bank Account in UAE

Non-residents generally have the option to open only savings accounts (without chequebooks).

Companies need additional documentation, such as trade licenses, incorporation certificates, shareholder details, and proof of business activity.

Did you know? Most banks require a minimum balance for corporate accounts ranging from AED 50,000 to AED 500,000. Falling below this balance can lead to monthly penalties.

Step-by-step guide to opening a bank account

The following is an extensive, step-by-step process for residents, non-residents, and corporations.

Step 1: Selecting the Right Bank

Selecting a bank in the UAE depends on your financial needs, account preferences, and banking relationship requirements. When choosing a bank, consider factors such as transaction fees, account services, branch proximity, and digital banking options. Certain banks also cater specifically to salary accounts, which may benefit employees by providing faster salary credit.

Best Banks in the UAE For Business Account:

Emirates NBD, RAK Bank, Emirates Islamic, First Abu Dhabi Bank (FAB), Commercial Bank of Dubai and Mashreq Bank are reputed for complete corporate services.

ADCB and Emirates Islamic Bank provide much-in-demand savings accounts with reasonable interest rates and incentives for personal and non-resident accounts.

Step 2: Documents preparation

For non-residents

• Passport and, in the case of non-GCC (Gulf Cooperation Council) nationals, valid UAE residence visa.
• Reference letter from the home bank of the applicant.
• Recent bank statements for the previous six months.
• Evidence of income or origin of incoming funds.
• Some banks might need a recent utility bill or evidence creating the financial record of the applicant for verification purposes.

For businesses

• Current trade license to validate the legal status of the business in the UAE.
• Original copy of Certificate of Incorporation
• Original copy of Memorandum and Articles of Association (MAA)
• Company Registrar-verified company business profile
• Copies of passports for all directors, shareholders, and Ultimate Beneficial Owners (UBOs).
• Information on UBOs (CV, Biography, employment/appointment letters, educational certificates) is required by banks
• A signed board resolution for the opening of the account and giving authorized signatories
• Source of funds, business purpose, key clients, and a short-term business plan for the account

Step 3: Application Process

The process of applying can vary if you apply in person or online. Here’s what to do:

In-person applications

Some banks insist that the account opening is done in a branch. This could involve filling out further bank forms and submitting your documentation in person for validation.

Online applications

Some banks provide online account opening processes, particularly for basic accounts or customers with existing accounts. Uploading scanned copies of the documents may be necessary, but further in-person verification can still be requested.

Timeline for verification and approval

After submission of the application, the bank will carry out a verification process. For individuals and residents, the process can take anywhere between 2-5 business days. However, corporate accounts, particularly for free zone or offshore companies, can take 2-4 weeks, subject to the bank and completeness of documents.

Final Thoughts

Opening a business bank account in the UAE is a crucial step for businesses and entrepreneurs doing business in the region. With careful preparation and the right bank, you can make salary payments easy, handle company funds, and perform international transactions with ease.