Dubai is one of the bustling business hubs where a majority of financial activities take place. One can open a bank account in Dubai for both personal and business purposes. Bank account opening in the UAE requires certain basic requirements. All financial institutions and their operations come under the Central Bank of the UAE; a KYC (Know Your Policy) has been set by the Central Bank to meet international standards. All UAE banks will enquire about your account transactions while opening your personal or corporate bank account in Dubai, UAE. Polestar can guide you on KYC requirements to open a bank account in Dubai and make the entire documentation process easier for you.
CORPORATE BANK ACCOUNT
There is a rising demand for UAE corporate bank accounts due to their high level of privacy. We help you in opening a corporate bank account in the below-mentioned jurisdictions in the UAE:
Documents required to open a Corporate Bank Account in Dubai
All types of companies can open multiple corporate bank accounts with multiple currencies. Companies that are owned by corporate entities will need to provide a list of corporate documents to identify the management and ultimate beneficial ownership of the structure.
6 months personal and business bank statement
Proof of residence
Company Memorandum & Articles of Association
Passport copies for shareholders and authorized signatories
Board Resolution empowering a company officer for opening the account
PERSONAL BANK ACCOUNT
Opening a personal bank account provides several advantages to users such as global access and secure payments with high-level technical support.
Types of Personal Bank Accounts in UAE
Documents Required for Personal Bank Account
Passport copy with UAE entry page
Latest utility bill
Original bank reference letter of an applicant from her/his personal or company bank account in the country of origin or anywhere across the globe (requirement varies from bank to bank)
Most banks in the UAE require a minimum monthly average balance for opening a non-resident personal bank account in the UAE
Information on the source of incoming funds
To know more about bank account opening, connect with our experts today.