7 Easy Steps To open a bank account in UAE
The UAE has many industries and many opportunities for innovation. You may be tempted to skip straight to the actual setup process. However, we recommend that you decide in advance the type of business you want to run.
Once you decide on an industry, your next big decision is whether to start on the mainland or in a free trade zone. If you choose to set up in a free zone, you will benefit from:
0% corporate and private taxes
100% owned by the company
100% capital and profit repatriation
No currency restrictions and
100% import and export tax-free
Well done on your progress! When starting a business in Dubai, applying for a visa is the last task to complete. In addition to applying for your visa, various free zones also enable you to apply for visas for your employees and family members. The maximum number of applications you can make will vary depending on the specific free zone where you decide to establish your business.
Permit for entry
Changing status
Examination of physical health
Registering for Emirates ID and visa stamp
Once you receive back your paperwork, you will be equipped with all the necessary documentation to establish your corporate bank account. In the UAE, a variety of banks, both national and international, can be found.
Some of the leading banks in Dubai and Abu Dhabi are:
Emirates NBD
Abu Dhabi Commercial Bank
Commercial Bank of Dubai
Noor Bank
Emirates Islamic
Mashreq
RAK Bank
Ajman Bank
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