Opening a bank account involves various documentation requirements. In a country like the U.A.E, where paperwork is crucial for any legal work, expertise is needed to avoid future problems. Assistance with bank account opening varies based on the type of account and the choice of bank to ensure smooth transactions for your company in the future.
At NOVELTY, we strive to meet all your requirements for opening a bank account by understanding your company’s needs and providing tailored suggestions. Our experts analyze your situation and guide you through every step of the process. Begin your journey towards financial security and growth today with our seamless bank account opening assistance services.
Here are some essential points to consider when opening a bank account in the UAE:
Bank Types
There are 4 types of banks in U.A.E:
Commercial, industrial, merchant and Islamic.
Locally incorporated banks
There are 23 local banks and majority of them are listed under private Joint stock companies.
Foreign banks
There are 26 different foreign branches in the U.A.E.
Required documents for opening a bank account
- Labor department paperwork.
- Memorandum of association.
- Document of board resolution.
- Passport of the shareholders copy and Emirates ID.
- Letter of reference of all partners.
- Copy of directors’ passport.
- Shareholders registry
- Certificate of authorization.
- Business plan.
- Information of the company.