Choosing the right corporate banking service provider for your entity is a critical decision, and there is a broad range of local and international banks to choose from in the UAE or any country you wish to operate.
Each institution has individual 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 often 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 those looking to open non-resident accounts in the UAE, 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.