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Any company in UAE needs a Bank Account to make their business runs smoothly. Whether you own a Freezone license or a Mainland license business, opening a business bank account is quite a strenuous task. This is the time you need an expert in house Bank Advisor to get through the matters easily. Banks in UAE follows a strict Compliance measures imposed by Central Bank of UAE and thaty is why our experts are here to assist you.
EBMS at your Services
We are a business formation expert company working in UAE. We offer our services to every type of small and big businesses in UAE. We welcome you, wherever you come from.
We help companies to setup and to grow in United Arab Emirates market zone. We assist our clients in obtaining their Business Bank Accounts in different leading primary banks.
We provide you all our support from A to Z in order for you to have your account successfully open and operational.
Let us give you some basic requirement in order to open you Bank account in the UAE
Required Documents To Open A Personal Bank Account in UAE
There might be few more documents required depends in which bank you want to open you Account. We have helped hundreds of Freezone Companies to open their Freezone Company Corporate bank Accounts in Following Banks :
No its Not possible to Account any Business Bank account remotely with UAE banks.
Its a requirement of Central Bank that you have to be present physically while opening your Freezone Bank Account.
Well it is possible to have debit cards with most of UAE banks while you open Business Bank Account with them, however in order to get credit card you have to deposit some amount with bank, furthermore in regards to Business Loans yes it only possible if your company is 1 year old and you have got good turn over by showing company operations profits audit reports etc.
We try our level best but we highly recommend to setup your company through us so that we will set it up in way that it will be easy to open your bank account since there are few business activities due to which banks take longer time in order to open you company account.
There are lot of factors banks consider before opening your account so its impossible for anyone to Guarantee you about your account opening since the approval of account fully depends on the bank.
Each case goes to few departments of the bank where it has to be approved before the account gets opened.
If the bank has any questions or needs clarifications, it will contact you directly with the inquiries.
The more clear picture about your business you give to the bank, the higher your chances of account opening are.
Since We have assisted lot of freezone companies in opening Business Bank Accounts so we have enough experience about documentation and requirement so prepare your account application in a way that it makes smooth and fast for your business account opening.
Yes, Emirates ID of authorized signatory(s) of the company is a mandatory requirement for the account opening.
Most local financial service providers (FSP) in the UAE require a minimum balance to be maintained, which varies depending on the FSP. Generally, corporates must maintain a minimum balance of AED 10,000 to AED 500,000. However, zero balance facilities are also offered with a minimum account maintenance fee.
For digital FSP, the onboarding process is entirely online compared to the traditional FSP.
A virtual account (VA) or a Virtual IBAN account is an IBAN reference issued by a bank to allow incoming payments to be
directed to a physical bank account. Using a virtual account, you can send and receive money worldwide.
The IBAN should generally be received within five working days after the application is submitted and approved.
The funds will go directly to the master account registered for the Virtual Account. With this master IBAN account, companies can create and allocate a segregated virtual IBAN account to each of their customers to send and receive payments.
Yes, you receive the virtual IBAN under your company name.
Yes, you receive the virtual IBAN under your company name.
Yes, it supports SWIFT transfers in multiple currencies, both inbound and outbound.
Emirates NBD
Emirates Islamic
Mashreq
Rakbank
Emirates NBD
| Bank Name | Emirates NBD Bank |
|---|---|
| Initial required deposit | AED 250,000 |
| Timeframe (average) | 5-15 working days |
| Personal visit | Required. Only opens accounts for LLCs and limited free zone companies. |
Emirates Islamic
| Bank Name | Emirates Islamic Bank |
|---|---|
| Initial required deposit | AED 10,000 |
| Timeframe (average) | 10-15 working days |
| Personal visit | Required. |
Mashreq
| Bank Name | Mashreq Bank |
|---|---|
| Initial required deposit | AED 50,000 Zero balance account available with AED 200 per month fee. |
| Timeframe (average) | 10-15 working days |
| Personal visit | Required. Opens accounts for mainland, free zone and offshore companies. |
Rakbank
| Bank Name | RAKBANK |
|---|---|
| Initial required deposit | AED 25,000 Zero balance account available with AED 100 per month fee. |
| Timeframe (average) | 10-15 working days |
| Personal visit | Required. Opens accounts for mainland, free zone and offshore companies. |
Government Departments
We can help you with the processes in the following government departments
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We provide our clients A to Z Pro Services with a transparent and precise picture as to how to setup your business in Dubai and we have made setting up business in Dubai as easier as it gets.
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