NAM is a premier business management service provider based in Dubai, specializing in offering comprehensive bank account opening services to our clients.
Opening a business bank account in the UAE can be a challenging process, as you need to go through several strict compliance procedures mandated by the UAE Central Bank. With our bank account opening service, this doesn’t have to be the case. Our team will assist you in opening a bank account, guiding you through each stage and ensuring you have a hassle-free experience.
Your presence is required during the application process. The bank representative needs to meet you personally to fill out forms, sign important documents, and submit required documents for verification. Please make arrangements to be present for a successful process.
If you're not in the UAE, you can start opening a bank account online, but you'll still need to talk to someone by phone or online. If your application is accepted, you have to come to the UAE to sign the form and open the account.
Processing times may vary causing longer waits. Our team is working diligently to handle your application with care and will keep you notified of any changes. Normal processing time is 25 working days or more. Thank you for your patience.
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We'll look at what your company does, how it works, how much money it is expected to make, and how much money you have to get started. Then we'll suggest the bank that works best for your business.
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If the bank needs more information or help with something, we will talk to them and help you finish what they need. And if you can't meet with the person who checks your information, we can go for you.
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We'll assist in obtaining necessary bank papers, including registration proof, company info, owner passports, personal docs, 6-month bank statements, signatory ID and proof of address, and Ejari copy.
If you start a company in the UAE, you can open personal and business bank accounts as a resident of the UAE. These types of bank accounts are really good for people who are not from the UAE and want to invest there because they don't have to report information about these accounts and they offer lots of benefits to account holders.
Non-reportable bank account
Cheque book
Any bank facilities
Online banking
Debit and credit cards
Dedicated Account Manager
If you don't have UAE residency but want to open a bank account for yourself or your business in UAE, there will be some limits to what you can do. This type of account is called a non-resident account.
Reportable to the jurisdictions of the owners’ tax residency
Takes more time to open
Limited in bank facilities
Limited in online banking
Not allowed for issuing credit or debit cards
Opening a UAE offshore bank account has benefits and restrictions, and the process is dependent on both bank requirements and your situation. However, offshore bank accounts in UAE have limitations, which can cause long-term effects on financial stability.
Extra secured and have the highest privacy level
Allow 100% repatriation of capital and profits
Fast to open
Can be opened without UAE Residence Visa
Have no currency or funds transfer restrictions
Have user-friendly online banking system
Not eligible for cheque books, credit or debit cards and ATMs
We are pleased to inform you that we have established a strong business relationship with a distinguished bank in the United Arab Emirates.
The United Arab Emirates (UAE) offers numerous advantages for businesses, such as tax efficiency, a robust banking system, political stability, and access to international markets. Opening a corporate bank account in the UAE can provide you with a secure platform for financial transactions and support your business activities in the region.
The specific requirements may vary between banks, but generally, you will need the following documents:
Yes, foreign-owned companies can open corporate bank accounts in the UAE. The country welcomes foreign investment, and there are no restrictions on foreigners owning businesses or opening bank accounts. However, certain banks may have specific requirements or restrictions depending on the nature of your business.
Yes, most banks in the UAE have minimum deposit requirements that vary depending on the bank and the type of account. It is advisable to check with the chosen bank for their specific minimum deposit requirements.
While it is not mandatory for you to visit the UAE to open a corporate bank account, some banks may require at least one authorized signatory or a representative to be physically present for the account opening process. However, many banks also offer the option to open an account remotely, allowing you to complete the process from abroad.
The account opening timeline can vary depending on the bank and the completeness of the documentation provided. Generally, it can take anywhere from a few days to a few weeks to open a corporate bank account. Complex ownership structures, regulatory requirements, or additional due diligence may extend the process.
Banks in the UAE charge various fees depending on the type of account, services required, transaction volumes, and other factors. Common fees include account maintenance fees, transaction fees, foreign exchange fees, and other service-related charges. It is advisable to review the fee structure with the chosen bank to understand the specific costs involved.
Yes, many banks in the UAE offer multi-currency corporate bank accounts, allowing you to hold and transact in multiple currencies. This can be beneficial for businesses involved in international trade or dealing with clients in different countries.
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