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With our help you can easily select the appropriate bank as your financial instrument.

USD 850 - for new companies, USD 950 - for existing companies!

In most cases, opening an account is a natural step for normal operations of any company.

Depending on the objectives and business opportunities, there are several points that should be minded while selecting "your" bank:

  • Confidentiality
  • Recognition and prevalence of the bank in this and other jurisdictions
  • The services offered to resident and non-resident customers
  • Efficiency and ease of communication
  • The ability to access the account in various ways (online banking, debit card, cheque-book, personal manager, fax instructions, etc.)

With the help of our agents you can easily select the appropriate bank as your convenient financial instrument.

UAE bank account maintenance

United Arab Emirates are famous for the fact that local banks fully meet these requirements and are ready to provide their services to a wide range of potential and existing customers.

Our company offers its assistance in opening of corporate accounts in all banks of the Emirates. However, as practice shows, Emirates NBD, Mashreq Bank and Noor Bank are the most demanded of them by our customers. Below is a comparison chart for the opening and maintenance of accounts in these banks to the date (all information is collected from the official websites of the respective banks).

Comparison Chart

Bank

Emirates NBD

Mashreq Bank

Noor Bank

Plan Name Business Banking Plus Premium Business Banking Corporate Banking
Minimum monthly average balance (the required monthly account balance in all currencies of the account) AED 200,000 AED 150,000 AED 10,000 in equivalent for every currency of the account (for ex., AED 20,000, if you have AED and USD currencies on the account)
Account Maintenance Fees Free, if minimum balance is observed (if not, the bank will charge AED 300 per month) Free, if minimum balance is observed (if not, the bank will charge AED 400 per month) Free, if minimum balance is observed (if not, the bank will charge AED 100 per month)
Relationship Manager Fee Free Free Free
Issuance of token (Digipass, crypto-card) to manage online banking (one-off fee) AED 500 AED 500 AED 500
The subscription fee for online banking AED 200 per month AED 200 per month AED 500 per year
Cheque book (available only to resident companies) Free Free AED 50 (50 leafs)
Debit Card Free Free Free
Debit Card Replacement Free Free Free
Local Transactions Using online banking – free of charge; via branch - AED 40 Using online banking – AED 8; via branch - AED 10 AED 50
Cross-border transactions (in other currencies) Using online banking – AED 65; via branch - AED 75 Using online banking – AED 35; via branch - AED 45 AED 75
Cash transactions (AED) 2 transactions per month – free, AED 10 for each additional transaction in current month Less than AED 1 Mln - waived. For AED 1 Mln or more - 0.01% of cash value or AED 100 whichever is higher Less than AED 1 Mln - waived. For AED 1 Mln or more - 0.01% of cash value or AED 100 whichever is higher
Account Closure Less than 6 months - AED 100. More than 6 months - waived Less than 6 months - AED 250. More than 6 months - waived Less than 12 months - AED 6,000. More than 12 months - waived

Of course, only basic packages of these banks are described in the chart above. Each them may offer even more favorable terms for servicing the account. The principle is quite simple - the more funds you are ready to keep on your account as the minimum balance, the more reduced the cost of the account maintenance.

Here is a standard list of documents that a bank requests to open a corporate account in UAE:

  • Passport
  • Bank statement from personal account for the last 3-6 months (preferrably in English)
  • Bank reference letter from personal account
  • Recent utility bill
  • Short CV reflecting professional experience in the field of your business
  • Short business description

Please contact us for a professional advice on the corporate account opening in the UAE, our consultants will be pleased to help you!