How to Open a Business Bank Account in Dubai (2026 Guide)

Business bank accounts are among the most sought-after in the UAE, with offshore companies, free zone (FEZ) entities, and mainland businesses all eligible to apply. This guide provides a comprehensive overview of the legal process, including required documentation, benefits, how to maintain it,  and factors to consider. 

What are the minimum requirements to open a business bank account?

UAE laws require at least one signatory to open a business bank account, depending on the company type (mainland, free zone, or offshore) and corporate structure. This is an individual authorised to operate the account, authorise transactions, sign cheques, and manage banking operations on behalf of the company.

Usually, the company’s board of directors decides on a signatory. It is highly recommended to select a shareholder with the strongest history and most stable financial position as a signatory, who can provide the most supporting documentation.

Critical factors to consider 

Here are the two key variables that play a key role in successfully opening a business bank account:

1. Compliance clearance

To have a smooth and efficient process, it is important to undergo a compliance procedure with the selected bank. In this stage, it is important to provide an accurate and complete set of information on the type of business,  industry/sector, sources of funds, transactions, and previous business history (if in another country).

2. Building trust relationships with a personal manager

Approval to open a company account primarily depends on the bank's interest in your business. This is where it is necessary to establish a mutually beneficial relationship. For example, the banker may expect you to increase the monthly balance to above 500,000 AED. 

What are the documents required?

Here is a list of documents required to process an account opening application in Dubai. 

• Company registration documents

• Passports of shareholders

• Utility bills to confirm residential address

• CVs of shareholders with relevant work experience

• Personal bank statements of shareholders as proof of funds

• Documents for any existing businesses (if applicable)

• Bank statement from another existing business (if applicable)

• The sphere of business activity

• Forecasts for annual turnover and initial deposit for the account being opened.

The time required to complete the process may vary by company structure. On average, it can range from 1 to 3 months. Companies in the Dubai mainland and free zones can expect a shorter timeline than offshore setups. 

How to maintain a business bank account? 

According to regulations governing business bank accounts in Dubai and the UAE in general, there should be a minimum average monthly balance of 50,000 to 500,000 AED. The exact amount to be maintained will depend on the tariff for the bank service, whether with a retail or personal manager. 

The retail tariff demands a balance of 50,000 dirhams in the account. On the other hand, the tariff with a personal manager requires an average monthly balance of at least 250,000 dirhams.

Businesses can also opt to open an account online with WIO Bank (a digital bank in the UAE that allows businesses to open accounts online, rather than visiting a branch). However, there are certain restrictions on the type of business activities eligible for this account opening option. 

Any business that fails to maintain the minimum due will be charged a maintenance fee. 

Can foreign companies open business accounts in the UAE?

The UAE's flexible regulatory framework allows companies registered abroad to open a bank account in the country. However, this is one of the most challenging applicant categories, as they must navigate a complex, lengthy process, resulting in a low approval rate. 

Foreign companies should prepare all the essential founding documents of the foreign legal business, legalised by the UAE embassy in the country of registration. Then it must be approved by the Ministry of Foreign Affairs in Dubai. On average, this will cost about $1000 (AED 3,600-3,700) per document. 

The documents required for this process are as follows: 

• Certificate of Incumbency

• Certificate of Good Standing

• Articles of Association

• Memorandum 

• Certificate of Incorporation

• License (if applicable)

• Board Resolution appointing a signatory for the business account

• Bank statements and supporting documents (contracts, invoices, bills, etc.) for transactions.

Typically, the approval process for foreign companies opening a bank account in Dubai takes some time, due to compliance checklists. Sometimes these businesses fall into the high-risk category, increasing the likelihood that banks will not approve their applications. 

To open accounts faster, it is recommended to set up a legal company in the UAE offshore or free zone and apply to open a corporate bank account for it rather than from a foreign one. 

What are the benefits of having a business account in a UAE bank?

• Fast money transfers: Funds can be transferred quickly via the SWIFT system, primarily from one account to another.
  
  

• Reliable banking system: Major banks in the UAE are owned by members of the royal family, making them as secure and dependable as the country itself.
  
  

• No maintenance fees if minimum balance is maintained: Some banks may charge a small fee for online banking (typically 150–300 AED per month).
  
  

• Stable currency exchange rate: The UAE dirham is firmly pegged to the US dollar at 1 USD = 3.6725 AED.
  
  

• No currency controls: With the appropriate documentation, funds can be sent and received worldwide. Transfers from a business account to a personal account are also permitted and are not subject to taxation.

What is the compliance procedure for business accounts?

Businesses that want to open a bank account in the UAE should go through an initial compliance procedure. During this process, you will need to submit a set of documents to create a portrait of the company and its activities. The information requested typically includes forecasted number of transactions per month, transaction amounts, names of suppliers and customers, and information about the business you conducted in another country.

To successfully complete this procedure, it is important to have a relatively long and successful history, which simplifies confirmation with proper documentation, such as bank statements, contracts, invoices, and shipping details. 

Generally, anyone starting a business from scratch in the UAE is considered high risk by banks, reducing the likelihood of opening a bank account.  Similarly, if any transactions on account exceed the profile submitted to the bank or are from unknown sources, the bank will suspend them until the circumstances are properly clarified.

If you are aware of receiving a significant amount exceeding the established limits on your bank account, please inform the bank in advance and update the account parameters. 

Note: All payments from Russia are currently considered high risk and must undergo mandatory compliance processes. In this case, the bank will pause the transaction and ask clarifying questions to the banker, who will then forward them to you. If the bank does not receive a satisfactory response within 14 days, your funds will be returned. This is why it is essential to maintain a good relationship with your personal manager. 

Which UAE banks are most suitable for opening a business account?

Here is a simple breakdown of reliable banks for opening a business account, with minimum amounts based on whether they require a relationship manager (RM). 

How can we help with opening a business account in Dubai and the UAE?

With extensive experience in business setup services at DWTC, we offer a dedicated à la carte menu that lets you choose tailored solutions to simplify your company formation and ongoing operations. 

We maintain strong relationships with leading banks in the UAE as intermediaries, enabling us to facilitate efficient corporate bank account openings in full compliance. Here is how we will assist you: 

Find the best solution for you.

To create a personalised plan and the best solution, we will first understand your requirements, including your business, capabilities, previous experience, and overall goals. We will then provide recommendations on company registration and an ideal structure to ensure the opening of a business account with a UAE bank.

Schedule meetings with your personal manager at the bank

We will then arrange a meeting with a bank representative to complete the application and sign the documents. 

Monitor the status update of your application

We will track application status updates and ensure the banker submits the necessary documentation for compliance, and that all essential steps are completed by answering the banker’s questions. 

Guide you every step of the way until the account is opened

Our business consultants will continue assisting you throughout the process until the bank account is open. We will ensure all legal frameworks and bank enquiries are duly addressed, expediting the formalities. 

Key Takeaways 

Opening a business bank account in the UAE requires careful planning, strong compliance readiness, and the right banking relationship. Approval largely depends on the company’s structure, activity profile, financial transparency, and ability to meet minimum balance requirements. 

Preparing complete documentation, understanding compliance expectations, and maintaining clear communication with the bank significantly improve success rates. 

With the right guidance, businesses can navigate the process efficiently, avoid delays, and establish a stable banking foundation to support long-term operations in Dubai and the wider UAE.