Banking Assistance in UAE
Opening a business bank account in the UAE can feel complicated. But with Bestax, it doesn’t have to be.
We help entrepreneurs, business owners, and investors open bank accounts in Dubai and across the UAE, even if you’re based overseas. Our experts guide you through every step, from choosing the right bank to preparing your documents and setting up appointments.
Whether you’re starting a new company or expanding into the UAE, Bestax makes opening a business bank account simple.
A Brief Overview of the UAE Banking Industry
The UAE banking industry is one of the most advanced and secure in the region. It is regulated by the Central Bank of the UAE, which ensures that all banks follow international standards.
There are over 50 local and international banks in the UAE, offering a wide range of services for both personal and business bank accounts. These banks provide support in both English and Arabic, making it easy for expats and foreign nationals to manage their money.
The UAE banking system includes:
- Commercial banks, for personal and business banking
- Islamic banks, following Shariah-compliant financial rules
- Investment banks, for long-term financial planning
- Offshore banks, ideal for foreign investors and international companies
Islamic banking is a growing part of the industry. Many banks offer Shariah-compliant accounts and services to meet the needs of Muslim customers.
Most UAE banks now offer digital banking options. This means you can open bank accounts online, transfer money, and manage your account from your mobile device.
Types of Bank Accounts in the UAE
There are several types of bank accounts you can open in the UAE. Whether you’re a resident, a non-resident, or a business owner, there’s a banking option for you.
1. Personal Bank Account
A personal account is for everyday use. You can receive your salary, pay bills, and manage your personal expenses. Most UAE banks offer savings and current accounts for individuals.
Key features:
- Debit card access
- Online and mobile banking
- Some accounts have zero balance options
- Required: Emirates ID and residence visa
2. Business Bank Account
If you’re running a company, you must open a business bank account. UAE laws do not allow business transactions through personal accounts.
Used by:
- Mainland and Free Zone companies
- Startups and SMEs
- Large corporations
Key features:
- Multi-currency support
- Access to online business banking
- Monthly transaction reports
- Required: Trade license, company documents, Emirates ID
3. Corporate Bank Account
A corporate account is for larger businesses that handle many transactions. It offers advanced banking services and custom solutions.
Best for:
- Established companies
- Offshore companies
- Businesses with international clients
Includes:
- Dedicated relationship manager
- Bank compliance documentation support
- Custom credit lines and finance options
4. Non-Resident Bank Account
If you don’t live in the UAE, you can still open a non-resident savings account. You won’t get a checkbook, but you’ll receive a debit card.
Required documents:
- Passport copy
- Proof of income
- 6-month bank statements from your home country
- Utility bill or address proof
5. Offshore Bank Account
For foreign investors and international businesses, an offshore bank account offers flexibility and privacy.
Ideal for:
- Global trade
- Wealth management
- Secure international transfers
Offshore accounts follow strong regulations and can help you save on taxes, depending on your country of residence.
6. Digital Bank Accounts
Some UAE banks now offer 100% online account opening. You can apply through a mobile app, submit your documents, and get your debit card delivered.
Popular digital banks:
- Liv by Emirates NBD
- Neo by Mashreq
- YAP, UAE’s first independent digital bank
Each account type has different features, fees, and minimum balance requirements. Bestax will help you choose the right option and handle the full UAE bank onboarding process.
What You Need to Open a Business Bank Account in UAE
To open a business bank account in the UAE, you must submit the right documents and follow bank compliance rules. Each bank may have slightly different steps, but most follow a similar process.
Here’s what you need:
| Category | Required Documents / Details |
|---|---|
| Business Documents | – Valid trade license – Certificate of incorporation – Share certificates – MOA & AOA |
| Personal Documents | – Passport copies of all shareholders – Emirates ID (if available) – UAE residence visa |
| Financial Records | – 6-month personal or business bank statements – Source of initial capital |
| Business Activity Info | – Company profile – Details of business operations – Expected annual turnover |
| Proof of Address | – Ejari (tenancy contract) – Utility bill – Office lease agreement |
| Additional Bank Requirements | – Board resolution to open account – VAT certificate (if registered) – CVs of shareholders |
| Other Notes | – Minimum balance varies by bank (AED 10,000 to AED 100,000) – Some banks require in-person signing – KYC & bank compliance documentation needed |
How Can Bestax’s Team Help You Through Their Bank Assistance Service?
Whether you’re a startup, a growing business, or an international investor, our expert team of FTA-approved agents is here to help you every step of the way.
Here’s how we support you:
Understanding Your Business Needs
Bestax starts by learning about your business. We assess your company’s activity, expected yearly income, and the funds you plan to use when opening the account.
Preparing the Right Documents
Banks in the UAE ask for several documents, and missing just one can delay your account. Our team helps you collect and prepare everything you need, including:
- Trade license
- Passport and visa copies
- Emirates ID
- Company profile
- 6-month bank statements
- Proof of address, like Ejari
If your business is new, we use your personal bank statements to complete the file. We make sure all documents meet UAE financial institution and bank compliance documentation rules.
Communicating With the Bank
Once your file is ready, we send it to the bank and talk to their team on your behalf. If the bank needs more details or documents, we help you respond quickly. In cases where you cannot attend a meeting in person, we may act as your representative or help you connect with the bank’s Contact Point Verification Agent.
Support for Online and Remote Applications
If you are outside the UAE, you can still open a business bank account online. Bestax helps you with the remote process, including online meetings or video calls with the bank. Once the application is approved, we guide you in planning your visit to the UAE to sign the final papers and activate your account.
Expert Help Until the End
From start to finish, Bestax stays with you. We understand the UAE bank onboarding process and know how to meet bank expectations. Whether you are applying as a resident or non-resident, we make sure your experience is smooth and stress-free. Our goal is to help you open your account quickly, while making sure all steps follow local laws and banking rules.
FAQs
What kinds of support can I expect from my bank?
Inquiries about accounts, loan applications, credit card problems, investment advice, and other financial services are all assisted by banks in the United Arab Emirates. They can also assist with technological issues and internet banking.
How can you inquire about a specific transaction?
You have three options for checking your transactions: mobile applications, internet banking, or customer service at your bank. Give them the specifics of the transaction, and they will help you to reconcile any differences.
Is the bank assistance able to help me with investment advice?
In the UAE, yes, a lot of banks provide financial advising services. To talk about your investing objectives and risk tolerance, you may make an appointment with a financial advisor at your bank.
Can I open a business bank account online in the UAE?
Yes, some UAE banks allow you to open a business bank account online. You can start the process from outside the UAE, but you may still need to attend an online meeting or visit the UAE later to sign the final documents. Bestax can guide you through the full process and help you meet all the bank’s requirements.
What are the requirements for opening a bank account in Dubai for a company?
To open a business bank account in Dubai, you need a valid trade license, passport and visa copies of shareholders, Emirates ID, company profile, recent bank statements, and a UAE address like Ejari. Banks may also ask for extra KYC documents depending on your business activity. Bestax will help you prepare and submit all required documents.
What is the minimum balance requirement for a UAE business bank account?
Most banks in the UAE ask for a minimum balance to keep the account active. This can range from AED 10,000 to AED 100,000, depending on the bank and account type. Some banks offer zero balance accounts for small businesses or startups. Bestax can help you choose a bank with requirements that fit your business.
