All banks are regulated by the Central Bank of the United Arab Emirates, which is tasked with ensuring the financial soundness of these institutions.

A company – be it Mainland, Free Zone or an Off-shore – will require a business bank account to undertake any kind of business activities. Opening a corporate bank account in the UAE is a relatively straightforward procedure for UAE Companies. However, customer identification requirements may vary depending upon the size and activity of the business.

The financial institution will request information detailing the legal existence of the entity. Companies that are owned by corporate entities will need to provide a full set of legal attested corporate documents in order to identify the management and ultimate beneficial ownership of the structure.

Our team of commercial bankers has led senior positions in many outstanding UAE banks with the banks offering a wide range of products and services to the customers, our expert bankers estimate the pros and cons of different categories suiting clients’ business needs.