OWME Global Business Services

OPEN BANK ACCOUNT IN UAE

CORPORATE SERVICES / Banking in UAE
Not all banks suit all customers. Each has a different set of services – from classical retail to full corporate or private banking, different documentation requirements and minimum balance, different tariffs, specialization in certain sectors or countries, etc. The choice of a suitable bank is key to continued success of cooperation with it. Taking into consideration the specificity of each bank, it becomes noticeable that opening a bank account abroad is an important step in the structuring of foreign business and tax planning. It requires serious analysis and approach in each case, as well as proper preparation of all necessary documents for the bank. The requirements of UAE banks change continuously. Some types of businesses will be acceptable to one bank but not to another.
 
Based on your preferences (reliability and prestige, the bank’s rating, a set of services provided by the bank, the minimum deposit required, the costs of banking services, etc.) and the policies of the banks that we liaise with, our advisors will provide you with a choice of suitable banks for you based on your business activities. Our office has good links with a number of banks in the region including local as well as international banks. We will do all the preparatory paperwork and obtain the required documents to open accounts in the UAE. In some cases you can open an account without visiting the bank by appointing us as signatory. We can administer the company’s account under your instruction. The usually required set of documents for opening a company bank account in the UAE are as follows:

  • Personal bank account statements
  • Passport copy
  • Residence permit – or UAE entry stamp
  • Utility Bill or proof of address and C.V.
  • Mobile phone number in the UAE
  • Incorporation Certificate
  • Memorandum of Association
  • Trade License
  • Passport  copy of director/shareholder
  • Utility Bill of director/shareholder and C.V.
  • Shareholder’s resolution to open the bank account
If a foreign company is a shareholder the corporate documents will have to be legalized in the country of origin and attested in the UAE.
 
As banks in the UAE have strict compliance and due diligence policies and requirements, the bank account opening usually takes around 2 to 3 weeks after receiving the documents.  All local and international banks in the UAE offer efficient and easy to use online banking facilities.
 
Our staff will be happy to assist you in to open a bank account in the UAE. We offer also offer bank introductions services for non- UAE banks. This could be a feasible option if you do not want to visit the UAE and want to sign on the account yourself. Services we provide are the following:

  • Banking introductions to reputable banks around the world.
  • Opening of corporate, trust and personal accounts.
  • Operation and maintenance of bank accounts.
  • Arranging, handling and transferring Letters of Credit.
  • Arranging credit and debit cards.
  • On-line banking services
Oneworld has helped thousands of clients successfully establish operations in countries all over the world and manages over US$5 billion worth of assets on behalf of entities established for clients.
 
Contact us if you want to know more about the options we have.

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