Opening a corporate bank account in the UAE for your free zone or mainland company is an essential step after company formation. Requirements and timelines vary significantly between banks.
Documents Required for Corporate Account
- UAE trade licence (valid)
- Certificate of Incorporation
- Memorandum and Articles of Association
- Shareholder and director passports and visa copies
- Emirates IDs of all authorised signatories
- Company address proof (lease agreement or free zone office letter)
- Business plan or description of activities
- Last 6 months bank statements from existing accounts
Typical Timeline
UAE corporate bank account opening typically takes 2–8 weeks depending on the bank and company structure. Digital banks (WIO, Mashreq Neo) are faster (3–10 days). Traditional banks (ENBD, FAB) conduct thorough KYC and take 4–8 weeks.
Monthly Minimum Balances
| Bank | Minimum Balance (AED) | Fee If Below |
|---|---|---|
| WIO Business | 0 | AED 149/month |
| Mashreq Neo Business | 25,000 | AED 30/month |
| ADCB Business | 10,000 | AED 25/month |
| FAB Business | 25,000 | AED 35/month |
| ENBD Business | 25,000 | AED 40/month |