Opening a corporate bank account in the UAE is one of the most essential—and often challenging—steps for any new business.
Banks require strict compliance, clear documentation, and a complete understanding of your business model before approving an account.
To combat financial crime, money laundering, and fraudulent activity, UAE banks perform deep due diligence on:
– Company structure
– Business activity
– Shareholders
– Source of funds
– Expected transactions
– Operational model
VADA ensures all your documents and explanations are fully aligned with banking standards.
- For Mainland, Free Zone, and Offshore companies
- Often required as supporting evidence
- AED, USD, EUR, GBP
- Faster approval options
- Low minimum balance
Traditional banks:
– Emirates NBD
– Mashreq Bank
– RAKBANK
– ADCB
– FAB
– HSBC
– Standard Chartered
Digital banks:
– Wio Business
– Zand Bank
– RAK Digital
– Mashreq NeoBiz
Review licence and structure
Check business model suitability
Advise on best banks for your industry
Banks require:
Business plan
Shareholder details
Passport copies
Visa copies
Office/Ejari documents
Corporate documents
We compile:
Trade licence
MOA/AOA
Establishment card
E-channel or labour documents
UBO declaration
Compliance forms
We submit to the selected bank(s).
We arrange meetings and guide you through expected questions.
We prepare you for:
Source of funds questions
Expected turnover
Business activity explanation
Supplier & client details
Operational model overview
We respond to bank queries promptly:
Additional documents
Clarifications
Updated business model documents
Once approved, the account is activated and ready for use.
STEP 1 — Select suitable bank options
STEP 2 — Prepare KYC and compliance documents
STEP 3 — Submit application
STEP 4 — Bank review and due diligence
STEP 5 — Attend RM meeting (optional)
STEP 6 — Respond to compliance questions
STEP 7 — Final approval
STEP 8 — Account activation and online banking setup
(if requested)
– Avoid application rejection
– Correct bank selection
– Full documentation preparation
– Stronger compliance positioning
– Faster approval times
– Professional support during bank interviews
– Liaison with Relationship Managers
– End-to-end process management
