Opening a corporate bank account in Dubai is a crucial step for foreign companies aiming to operate in the UAE. It not only enables transactions but also signals credibility to clients, partners, and regulators. While Dubai offers one of the most business-friendly banking environments in the world, foreign investors often find the process challenging due to compliance norms and documentation.

Why Dubai is a Banking Hub for Foreign Businesses

Dubai’s banking system is built on global standards of:

  • Security & Confidentiality
  • Multi-currency support
  • Global access to online banking
  • Reputation for investor-friendliness
  • Integration with free zones and trade licenses

From startups to holding structures, opening a bank account here is the first step in establishing financial roots in the UAE.

Who Can Open a Bank Account in Dubai?

You are eligible if:

  • You own a UAE Free Zone, Mainland, or Offshore company
  • You are a foreign investor with a UAE trade license
  • You have a branch or rep office registered in the UAE

Note: Some banks require at least one UAE resident manager or shareholder.

Documents Required to Open a Corporate Account

While the list can vary by bank and jurisdiction (mainland, free zone, or offshore), here are the standard requirements:

Document

Purpose

Trade License

Proves legal business registration in UAE

Memorandum & Articles of Association

Shows business structure and activities

Shareholder Passport Copies

Identity verification

UAE Residency Visa

Required for signatories in most cases

Office Lease Agreement

Some banks require proof of office

Business Plan

Shows intended operations and turnover

Bank Reference Letters

To establish credibility

Board Resolution

Authorizing the account opening

 

Types of Corporate Bank Accounts in UAE

Account Type

Best For

Mainland Account

Businesses licensed by Dubai DED

Free Zone Account

Companies in DMCC, JAFZA, DSO, DIFC etc.

Offshore Account

Holding companies in Ajman, RAK ICC, JAFZA etc.

Multi-Currency Account

Exporters, eCommerce, global businesses

Timeline for Bank Account Opening

The account opening process may take anywhere between 7 to 20 business days, depending on:

  • Your company’s risk profile
  • Business activity
  • Shareholder nationality
  • KYC background checks

MajuBiz helps reduce delays by ensuring full documentation, proper introductions to banks, and legal compliance from Day 1.

Challenges Faced by Foreigners (And How MajuBiz Solves Them)

Common Challenge

How MajuBiz Helps

Difficult KYC norms

Prepares all compliance documentation

Lack of UAE visa/residency

Matches you with suitable banks or alternatives

Bank rejections

Filters banks based on your company’s profile

Slow processing

Liaises with banks, follows up, and accelerates turnaround

Unclear fees & requirements

Provides a clear comparison and advice

How MajuBiz Makes It Easy

With 14+ years of experience and over 4,600 setups across the UAE, Saudi Arabia, and Bahrain, MajuBiz offers:

  • End-to-end account opening support
  • Shortlisting of ideal banks based on your business
  • Preparing all legal & KYC paperwork
  • Direct coordination with banks
  • Post-account advisory (VAT, compliance, invoicing)

Popular FAQs About Starting a Rent-a-Car Company in KSA

Can I open a corporate bank account in Dubai without a UAE visa?
A few banks allow it for offshore companies, but most require a UAE resident shareholder or manager.
What is the minimum balance required?
This depends on the bank. Most require AED 25,000–150,000 minimum balance.
Is it mandatory to visit the bank in person?
Most traditional banks require a visit. Some allow remote onboarding through consultants like MajuBiz.
Can I open an account before my company is formed?
No. You must first register your company in the UAE.

Conclusion

Dubai continues to be a preferred destination for foreign investors — and setting up a corporate bank account here is the cornerstone of doing business. With the right documents and expert help, the process can be smooth, fast, and stress-free.

At MajuBiz, we don’t just guide you through forms — we connect you with the right bank, handle the paperwork, and ensure your account opens without unnecessary delays.

Ready to Open Your Dubai Bank Account?

Book a Consultation with MajuBiz.

Let’s simplify your UAE banking journey — professionally, transparently, and end-to-end.