Business Account

A company – be it onshore or offshore – will require a bank account to undertake any kind of business. Opening a corporate bank account in the UAE is a relatively straightforward procedure for UAE Mainland 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 corporate documents in order to identify the management and ultimate beneficial ownership of the structure. In most cases, these documents will need to be notarised/legalised in their country of origin and again in the UAE.