Corporate Banking
Opening a corporate account in the UAE requires rigorous AML and KYC compliance. Physical presence of signatories, detailed business plans, and proof of substance (like an actual office lease, known as Ejari) drastically improve approval rates.
Required Documentation
- Valid Trade License
- Memorandum of Association (MOA)
- Passport, Visa, and Emirates ID of all shareholders
- Proof of address (Ejari) for the business
- 6 months of personal/corporate bank statements from home country
The 'Substance' Requirement
Banks are increasingly rejecting applications from 'shell' companies operating via flexi-desks without a clear physical footprint or operational necessity in the UAE.