Dubai Corporate Bank Account

Opening a company in Dubai does not automatically give the company a bank account. The bank will make its own decision after looking at the business, the shareholders, the source of funds and how the account is expected to be used.

Coutts Consultants can help prepare the application and introduce the company to a suitable third-party provider. This can be particularly useful for newly formed companies, overseas shareholders and businesses expecting to trade across several countries.

For mainland and free-zone companies

Dubai businesses can be incorporated through mainland or free-zone authorities, and banks will want to see the relevant trade licence and company documents before opening an account.

We look at the type of company, its activity and how it will trade before considering which banking route is likely to be suitable.

What the bank will normally ask for

Providers commonly request the trade licence, incorporation documents, passport and address information for owners and signatories, details of the business and evidence of the source of funds.

They may also ask for contracts, invoices, a website, office information, customer or supplier details and bank statements depending on the company.

New companies can still prepare a strong application

A newly formed Dubai company may not yet have accounts or a long trading history. In that case, the application needs to explain clearly what the company will do and where its first payments are expected to come from.

Genuine contracts, forecasts, existing overseas business activity and information about the owners can help the bank understand the new company.

How Coutts Consultants can help

We review the company and its banking needs, help organise the application documents and make an introduction where a suitable provider is available.

Coutts Consultants acts as an intermediary. The bank or financial institution provides the account and makes the final acceptance decision.