Once your trade license is issued, the next milestone is a corporate bank account. It is often the step that takes longest, because UAE banks carry out detailed due diligence on the company, its owners and its expected activity. Good preparation makes a real difference.
Documents banks usually request
Requirements vary by bank, but most ask for:
- Trade license, certificate of incorporation and memorandum of association
- Passport, visa and Emirates ID copies of shareholders and signatories
- Proof of office address (Ejari or free zone lease)
- Company profile or business plan describing activities, customers and suppliers
- Expected monthly turnover and transaction patterns
- Source of funds and, for corporate shareholders, the ownership chain up to the ultimate beneficial owners
Why applications get delayed
Delays usually come from a mismatch between the licensed activity and the described business, unclear ownership structures, high-risk countries in the supply chain, or signatories who can't attend meetings. A clear shareholder structure and a realistic business description help most.
Practical tips
Start talking to banks while the license is being processed, apply to banks that suit your size and activity, keep your answers consistent across all documents, and have signatories available in the UAE if the bank asks to meet them. Once the account is open, set up bookkeeping from the first transaction.
This article gives general information about UAE rules as at the date shown and is not legal or tax advice. Requirements change, so confirm the current position with the relevant authority or speak to our team.