Corporate Structuring

Opening a Bank Account

The process of opening a bank account for a company is not as complicated as it seems. However, there are some guidelines that need to be followed. It is important to have all the required documents ready before you start the process.

It might seem like opening a bank account for a company would be time-consuming and complicated, but it's actually not. All you need are some basic documents, and you can get started with your business banking right away!

Banking in Dubai

Dubai is a major hub for banking and finance.

As a company owner, having an up-to-date bank account is essential for managing your finances and making smart decisions. That's why corporate banking services are so important. In today's competitive market, it's important to choose a bank that offers all of the services and benefits you need, from flexible account options to compeititive rates on financial products. We have built relationship with many banks in the UAE to facilitate your needs. We offer our clients a choice of banking solutions including bank accounts, credit cards, etc.

How can the team at Real Davis assist?

At Real Davis, we help our clients set up bank accounts, guide you through all the stages of application process, assist you in obtaining all necessary bank documentation and ensure that all application forms are correctly completed before submission. Some of the documents needed to open a corporate bank account in Dubai includes;
1). Company Memorandum and Articles of Association. 2). Trade license 3). Certificate of incorporation 4). Passport copies of all staffs,directors, shareholders and authorized signatory. 5). Trade name registration certificate 6). Shareholders agreement. 7). VAT/GST registration number. 8). Office lease agreement.

Opening a company bank account in Dubai

The banking sector in the UAE is a thriving industry, with healthy growth and resilient economy. Creating a corporate bank account in Dubia can be a simple and hassle-free process for companies that meet the necessary requirements and guidelines set by the bank. There are few things an offshore company needs to keep in mind when setting up a corporate bank account in Dubia, however, as this process may vary slightly depending on your business specific needs

The process is generally as follows:

• Submit an application form to the bank.
• The bank will require you to provide supporting documentation as part of the registration process.
• Your application will be reviewed by the bank. However, you might be contacted if they need more information or if your application has been approved.
• Once your account has been opened, informations of your company has to be checked by the bank, such as information on directors and shareholders and copies of any documents that will prove your company identity.
• Your relevant banking details will be made available once your account set up is completed.

The financial service providers in Dubia are regulated by the Central Bank of United Arab Emirates. All banks operating in the UAE are governed by the bank secrecy law which enforces strict secrecy for all banking transactions carried out in the country. In addition to this, all financial institution are required to carry out customer due diligence on their customers before they can open an account with them. They are also required to conduct periodic review of these accounts to ensure that the customer continue to comply with the requirements of bank secrecy law. This ensures that criminals cannot set up bank account in the UAE and use the money to fund illegal activities such as; money laundering and terrorism financing.