UAE Bank Account Opening Assistant
A guide to startup-friendly banks in the UAE, outlining their specific requirements to help you prepare a successful application.
Digital-First Banks (e.g., Wio, Zand)
Modern, app-based banks designed for startups and SMEs with streamlined online onboarding.
Key Features:
- Fast online opening
- Low fees
- Good for digital businesses
Typical Requirements:
Min. Balance: Often AED 0 - AED 5,000
- Trade License
- Passport & Visa Copies
- Emirates ID
- Proof of Address
National Commercial Banks (e.g., Emirates NBD, ADCB)
Established banks with a large network, offering a wide range of services but with stricter requirements.
Key Features:
- Large branch network
- Trade finance & loan facilities
- Established reputation
Typical Requirements:
Min. Balance: AED 25,000 - AED 200,000+
- All of the above, plus:
- Detailed Business Plan
- 6-12 months of bank statements (personal or corporate)
- Proof of business activity (contracts, invoices)
SME-Focused Banks (e.g., RAKBANK)
Banks that have specific programs and accounts tailored to the needs of small and medium enterprises.
Key Features:
- Dedicated SME relationship managers
- Business loans and credit cards
- Flexible account options
Typical Requirements:
Min. Balance: AED 10,000 - AED 50,000
- Trade License
- Passport & Visa Copies
- Emirates ID
- Business Plan Summary
- Office Tenancy Contract (Ejari)
Application Checklist
Prepare these documents to maximize your chance of approval.
- Company Trade License
- Memorandum of Association (MOA) / Articles of Association (AOA)
- Passport, Visa, and Emirates ID copies for all shareholders
- Proof of Address for all shareholders (e.g., utility bill)
- Detailed Business Plan or Company Profile
- Corporate Bank Statements for the last 6 months (if applicable)
- Personal Bank Statements for the last 6 months for shareholders
- Proof of business (e.g., existing contracts, invoices, website)
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