How to open a Personal Bank Account as a Business Owner

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Documents required for Business Owners to open a Bank Account

Although this may vary from Bank to Bank, you will most likely be asked to provide the below Documents in order to sucessfully open a Bank Account as a Business Owner in the UAE:

  • Passport
  • Emirates ID
  • Proof of Address
  • Your company’s Trade License
  • Your company’s Articles of
  • Your Employment Contract, stamped and/or with the company’s header, which clearly states your role and salary
  • Bank Statements from your home country’s Business Bank Account

Some Banks may be a little more flexible and make the process smoother, but generally, it’s recommended you have these documents ready.

After providing everything to a bank rep in person, your application will be sent to the back office and you will need to wait for approval. This can take a couple of days.

But what if I don’t have all those documents? Or I need the account fast? Is there an alternative?

Yes. Although not advertised publicly, some Banks may show some flexibility opening Business Owner’s Banks Accounts if you can:

1) Demonstrate you have a certain amount of money in your home country’s Bank (i.e. AED 15k, but quantity may vary)

2) Be willing to deposit it in your new UAE Bank Account under a “Savings or Investment Plan”3) Leave the deposit untouched for a minimum number of months (could be 3, 6 or 12).

So if you struggle with putting all the documents together, ask you Bank Rep at the Branch “Is there any alternative to fast-track the Account opening process if I commit to depositing AED 15k upon opening?”. It won’t work in every Bank, but in some, it will.

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