Corporate Bank Account

UAE banks open corporate accounts against a clear, well-documented business case. The core file usually includes your valid trade licence, memorandum and articles, shareholder and director passports and Emirates IDs, proof of UAE address, a short business plan describing what you actually do, expected turnover and counterparties, and a credible source-of-funds explanation. We help you gather and present all of this, and we flag gaps early rather than at the bank's counter. Because every bank runs its own know-your-customer and compliance review, the questions can feel detailed, especially around the origin of funds and the nature of your trade; a clear, honest narrative is far stronger than a thin one.

Your company structure matters here too. A mainland or free zone trading company is the natural fit for a fully operational UAE account, whether you set up through mainland company formation or free zone company formation. Note that an offshore company cannot trade inside the UAE, it is a holding and international-use vehicle, so banking options for it are narrower and bank-dependent. You can read the official guidance on doing business in the UAE on u.ae.

Your bank account does not sit on its own, it underpins your tax compliance, so it pays to plan both together. UAE Corporate Tax (Federal Decree-Law 47/2022, effective for financial years starting on or after 1 June 2023) is 0% on taxable income up to AED 375,000 and 9% above that. CT registration is required, a late-registration penalty of AED 10,000 applies, and returns must be filed and paid within nine months of the end of the tax period. A qualifying free zone person can be taxed at 0% on qualifying income and 9% on non-qualifying income, without the AED 375,000 band. Small Business Relief is available where revenue is under AED 3,000,000 per period, up to 31 December 2026. VAT is charged at a standard 5%, with mandatory registration once taxable supplies reach AED 375,000 and voluntary registration available from AED 187,500.

Clean banking makes all of this far easier: keeping business funds separate, recording income and expenses properly and matching your statements to your books. We set this up for you through accounting, VAT and corporate tax, and you can verify every figure above on tax.gov.ae. Please treat the tax figures as the official thresholds in force, but confirm your own position with us, as your structure and activity change how they apply to you.

Banks set their own minimum-balance and account-maintenance terms, and these vary widely by bank, activity and your profile, so we will not quote a fixed figure that may mislead you; instead we help you compare options once your shortlist is clear. For the wider setup picture, indicative official government fees give a sense of scale but change often, so always request an exact quote. As published examples: a Department of Economy and Tourism (DET) trade-name reservation is about AED 620, a Ministry of Economy and Tourism (MOET) foreign-branch initial approval is about AED 3,500, and ICP residence-permit government fees are about AED 100 per year plus medical, Emirates ID and typing. See moet.gov.ae and icp.gov.ae for current schedules, or try our cost estimator and read how much it costs to set up a business in Dubai.

Account opening typically follows licence issuance, and once you are resident you may also pair it with investor and residence visas and ongoing PRO and government services. If you are still deciding how to structure the company, compare free zone vs mainland or explore UAE free zones such as IFZA and DMCC. When you are ready, message us on WhatsApp via our contact page and we will map out a clear plan.