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Business Bank Account Opening

Once you have obtained your company license then accounts opening with the bank is a crucial step to complete in order to manage the financial transactions of your business effectively.

WBS takes away the hassle of completing the paperwork, and guides you in every step of opening an account with your banks whether it should be business, commercial, corporate, retail or Islamic account. You can also avail the services of Business loans and Business valuation.

What We Offer

Our Partner Banks

Types of Banking in UAE

Commercial Banking

This leading banking service is dedicated to start-ups and SMEs in the UAE, offering the best and most flexible banking facilities to start a business. UAE’s banking vision is to support these two important sectors and provide them with all necessary solutions to improve the national economy.

Retail Banking

it is a standard personal banking in which individual customers use the branches of larger commercial banks. There are over 50 retail banks in the UAE. This banking system provides wide range of services such as : personal savings and current accounts, auto and personal loans, debit and/or credit cards. The focus of retail banking is on the individual consumer level more than on a corporate level.

Investment banking

UAE banks offer one of the highest ROI (Return of Investment) rates starting at 3% interest., With its political and economic position, UAE is a leading global investment center

Islamic banking

UAE banks offer Islamic banking governed by Shari’a Law and Federal Law No. 6 of 1985. The strategic plan of H. H. Sheikh Mohammed bin Rashid Al Maktoum includes the establishment of Dubai as a global center of Islamic banking

Document Required:

Features & Benefits

Benefits of Banking Within UAE

  • UAE banks offer quick transfer to international markets as well as IBAN numbers for European markets.
  • UAE banks have multi-currency accounts like (AED, USD, Euro GBP, USD, AED …etc.)
  • UAE banks offer a user-friendly online portal system for electronic banking transactions
  • UAE banks allow customers to get debit and credit cards.
  • UAE banks offer cheque books and an electronic token to protect your transactions
  • UAE banks can provide support to letters of credit, banks guarantees, and various other banking services for commercial customers.
  • UAE banks offer an easy phone banking service and mobile applications for online banking transactions
  • UAE banks enjoy an outstanding international reputation for confidentiality and security

Bank Account Opening

The economy of Dubai has been increasing for quite some time due to developments in real estate as well as an increase in tourist interest. The economic outlook is looking good, so it’s no surprise that more and more international companies are considering incorporating  into the UAE. One of the first steps following the decision to establish your business in Dubai is to set up a corporate bank account for a company. Although the general security for banking in Dubai is appealing.


Commercial banks within the UAE are split into two main categories:

Locally Incorporated banks and branches of Foreign Banks. They have 23 Locally Incorporated Banks as well as 28 branches of Foreign Banks that operate in the UAE (as in the year 2016). All banks are supervised through the Central Bank of the United Arab Emirates.


Opening an account for a company banking account (UAE)


  1. Resident
  2. Business
  3. Company Non-Resident

A company can be located offshore or onshore and will require an account with a bank to carry out all kinds of business. The process of opening a corporate bank account for the UAE is an easy method in the case of UAE Mainland Companies. However, the customer identification requirements can differ based on the size and the activity of the company.

A financial Institution will require information about the legal identity of the company. Companies controlled by corporate entities will have to submit a complete list of documents for the corporation to establish the entity’s management as well as the final effective ownership for the entity. In the majority of cases the documents need to be legalized or notarized in the country of their origin and later within the UAE.

The Central Bank has imposed enhanced procedures for customer due diligence on banks which create accounts on behalf of Offshore Companies. This means that banks must adopt an approach that is based on risk for account opening. The financial institution has to know the client’s main business segments, the expected quantity of currency and deposits, the extent of its revenues, and its primary clients and suppliers.

Opening an Bank Account in the following currencies (AED USD, GBP. )

After forming your company and obtaining the company license, opening your bank account for your company is a crucial step to register with FTA. (Federal Tax Administration) for the purpose of requesting invoices from clients, negotiating contracts with your customers and managing the financial transactions of your business effectively. We have a team of old bankers that can assist you.

Corporate Banking is a key service for Mainland areas in the UAE

UAE is among the most renowned business centers in the region that makes a secure sophisticated, secure and secure banking system essential.

The UAE has an established and stable banking sector that is overseen through the Central Bank. It was established in 1980. The Central Bank supervises monetary, banking and credit policies, and their implementation is in line with UAE rules and rules. It is responsible for boosting the economy as well as improves the stability and reliability of the currency of the country. It also keeps reserves of the UAE authorities’ reserves for precious metals as well as foreign currencies, and oversees banks that operate within the UAE.

Maximum daily limits for cash withdrawals is offered

Benefits of Banking Within UAE

Process of Opening a Bank Account in the UAE

Opening a bank account in the UAE is easy, safe and regulated by the Central Bank. WBS’s expert team will make a pre-evaluation of your profile and provide a list of potential banks suitable for your requirements. Once the bank is selected, WBS will contact the chosen bank and organize a meeting in Dubai which you are required to attend personally.

After meeting the bank, providing the documents required and signing all the bank forms, the bank will need around 10 days to process the account opening. Finally, once the account is opened, the bank will provide your banking details and access for you to fund your account and start your business activity.

Avoid Hassle of Account Opening

After acquiring your company license, opening a bank account is an important step to take in order to handle your business’ financial transactions efficiently. We can save you the hassle of dealing with the paperwork and assist you on every step towards setting up your bank account.

Commercial Banks in the UAE are divided into two major categories – Locally Incorporated Banks and Branches of Foreign Banks. There are 23 Locally Incorporated Banks and 28 Branches of Foreign Banks that operate in the UAE (as at 2016). All banks are regulated by the Central Bank of United Arab Emirates.



Documents required to open a company bank account in the UAE

Basic Documents:

Supporting Documents:

UAE Banking Services – FAQs

Can a non-resident open a company/personal bank account in the UAE?

Yes, in most cases. However, banks will often limit the facilities available to the company/individual. Typically, they will only allow the use of an internet banking facility for online transfers. The majority of banks will not provide credit or debit cards for non-residents.

Are there any minimum holding requirements for banks in the UAE?

Most local banks require a minimum balance to be maintained, which can vary dependent upon the particular bank and the particular type of account.

How long does it take to open a bank account in the UAE?

There is no set timeframe for this process. Each bank has its own internal procedure and timeframe for account opening. It generally takes approximately 2 to 4 weeks to open a bank account for an LLC or Free Zone company in the UAE. However, this is not guaranteed (especially in respect of Offshore Companies because each application is subject to a bank’s internal compliance and management approval.

Which banks do you work with?

We work with the majority of commercial banks in the UAE. We also work with a number of local private banks. If your company does not require a local bank, we also work with a number of international banks in the Caribbean (St. Lucia, St. Vincent and the Grenadines), Mauritius, Malta, Isle of Man, Singapore and Qatar. All these banks provide multi-currency accounts, banking via the Internet, telephone or fax. Debit cards are available from most banks that we represent, depending on the type of account.

Do I need to meet the banker in person?

Yes, but only in the case of the account being opened in the UAE. We have agreements with offshore banks where we obtain the client’s signatures and verify their authenticity. However, all the information and documents required by the bank will have to be provided by the client.

WBS is One stop shop solution for all your business banking needs.