Opening bank account in Dubai

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Dubai is one of the most important financial centers in the world, and therefore opening a bank account there provides individuals and companies with multiple investment opportunities, including real estate, stocks, funds, and other financial products

 

Dubai is a global commercial hub for international trade, and thus opening a bank account in Dubai can provide individuals and companies who frequently deal with companies and individuals in other countries with a competitive advantage

 

Opening a bank account in Dubai can help facilitate international banking transactions, as banks in Dubai offer fast and secure money transfers and international remittances

Terms & Conditions

For opening Bank account

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Establishing a company, whether in mainland Dubai or in a free zone, requires opening a bank account for conducting business transactions. Opening a corporate bank account in the UAE can be done easily, but the documentation process may vary depending on the size of the business and its nature of activities

 

The company must provide proof of its legal existence, which may include submitting documents that prove the identity of the business owner and the details of the business structure. For companies that are based outside of the UAE, the documents related to the company and its management must be attested and authenticated in their home country and again in the UAE

 

There is no specific timeframe for the bank account opening process, as the duration required for this varies from one bank to another. However, a limited liability company or a free zone company in the UAE takes around 2-4 weeks, while it may take longer for foreign companies

Required Documents

For opening bank accounts

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Company trade license

Certificate of registration or incorporation

Memorandum and Articles of Association of the company

Board resolution - if applicable - authorizing the company's officer to open a bank account

Copies of passports of shareholders and authorized signatories

A notarized lease agreement for the company's premises, and arranging a visit by the bank's inspection department to the company's premises

Need Help To Open A bank Account 

 

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