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How to Open a Business Bank Account in Dubai

Updated: Jun 28

Dubai has become a global business hub, attracting entrepreneurs from around the world.

One of the key steps to establishing a successful business in Dubai is opening a business bank account.

This process, while straightforward, requires understanding the specific requirements and procedures to ensure compliance with local regulations.

Why You Need a Business Bank Account in Dubai

Opening a business bank account in Dubai offers numerous benefits that are essential for the smooth operation and growth of your business.

Here are some of the key reasons why you need a business bank account in Dubai:

  1. Professionalism: A business bank account separates your personal and business finances, which helps maintain professionalism and credibility with clients and partners.

  2. Efficient Financial Management: It facilitates efficient financial management by allowing you to track business transactions, manage cash flow and maintain clear records for accounting and tax purposes.

  3. Regulatory Compliance: A business bank account is essential for regulatory compliance, as it is required for activities such as applying for visas, paying employees and fulfilling tax obligations.

  4. Access to Financial Services: It provides access to various financial services such as loans, credit facilities and trade finance, which can help you grow your business.

  5. Enhanced Security: A business bank account offers enhanced security for your funds, protecting them from potential risks associated with keeping large sums of money in personal accounts.

Opening a business bank account in Dubai

Documents Required for Mainland Business Bank Account

To open a business bank account in Dubai’s mainland, you will need to provide a specific set of documents. These documents ensure that your business is legitimate and compliant with local laws and regulations.

It is advised to work with a professional company setup company like Open Hub to ensure you have all the correct required documents needed for you and your business.

Here is a list of the required documents:

  1. Trade License: A valid trade license issued by the Department of Economic Development (DED) in Dubai.

  2. Memorandum of Association (MOA): The MOA outlines the business activities, ownership structure and other important details about your company.

  3. Visa, Passport Copy and Emirati ID: These documents are required for all partners and shareholders in the company.

  4. Office Lease/Ejari Agreement: Proof of a physical office location in Dubai, typically in the form of a lease agreement or Ejari certificate.

  5. Six Months’ Bank Statement: A bank statement of an existing account (individual or company) showing financial transactions over the past six months.

  6. Utility Bills: Recent utility bills for residence proof of the business owners or partners.

  7. VAT Certificate: If applicable, a VAT registration certificate issued by the Federal Tax Authority.

  8. Company Profile: A detailed profile of the company, including its history, activities, and future plans.

  9. Applicant Profile: Information about the applicant(s), including their background, experience and role within the company.

Opening a business bank account in Dubai

Documents Required for Free Zone Business Bank Account

If your business is established in one of Dubai’s free zones, the process of opening a business bank account is similar to that of the mainland, with a few additional requirements.

Here are the additional documents needed:

  1. Invoices: Copies of recent invoices issued to clients or customers.

  2. Suppliers and Buyers List: A list of your main suppliers and buyers.

  3. Shipping Documents: Documentation related to the shipping of goods, if applicable.

  4. Customs Clearance/Agreements: Any agreements or documents related to customs clearance for imported or exported goods.

Eligibility to Open a Business Bank Account in Dubai

To be eligible to open a business bank account in Dubai, you must meet certain criteria.

These criteria ensure that the bank can verify your identity, the legitimacy of your business and your financial stability.

Here are the key eligibility requirements:

  1. Registered Business Entity: Your business must be a registered entity in Dubai, whether it is a mainland company or a free zone entity.

  2. Physical Presence: Most banks require that the business has a physical presence in Dubai, which can be demonstrated through an office lease or Ejari agreement.

  3. Valid Trade License: A valid trade license issued by the relevant authorities is essential.

  4. Clean Financial History: Banks will review your financial history, including bank statements and credit reports, to ensure there are no significant red flags.

  5. Business Activity: The nature of your business activity should align with the bank’s policies. Some banks have restrictions on certain high-risk industries.

  6. KYC Compliance: You must comply with the bank’s Know Your Customer (KYC) requirements, which involve providing detailed information about the business and its owners.

Opening a business bank account in Dubai


Opening a business bank account in Dubai is a crucial step in establishing and running a successful business. By understanding the requirements and ensuring that you have all the necessary documents, you can streamline the process and start leveraging the benefits of having a business bank account in this dynamic city.

Whether you are setting up in the mainland or a free zone, being prepared and informed will help you navigate the process with ease and confidence.


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