A business in the United Arab Emirates can open a corporate account once it holds a valid trade license, whether mainland or free zone. Local digital banks such as Wio and Mashreq NeoBiz onboard online, while traditional banks run fuller checks.
- Can a non resident open
- A UAE trade license is normally required, so a company with no UAE registration cannot open a local account. Non resident shareholders can be added once the company is licensed, subject to enhanced checks.
- Typical timeline
- About 2 business days at digital banks, up to several weeks at traditional banks.
- Free account available
- Zero balance startup accounts exist, such as RAKBANK RAKstarter, though flat monthly platform fees may apply elsewhere.
- Most providers
- Several business accounts
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
How business banking works in United Arab Emirates
Business banking in the United Arab Emirates splits between traditional banks, such as Emirates NBD, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Mashreq, and RAKBANK, and digital first providers, such as Wio and Mashreq NeoBiz. All are supervised by the Central Bank of the UAE, which sets the know your customer and anti money laundering rules that shape onboarding. A company normally needs a trade license before any bank will open an account, and the type of license, mainland or free zone, can affect which banks are willing to onboard and how much documentation they ask for.
Who can open a business account
A UAE licensed company, including a mainland LLC, a free zone company, or a licensed sole establishment, can apply. Licensed freelancers holding a freelance permit can open business accounts at providers such as Wio and Mashreq NeoBiz. Banks verify the identity of every shareholder, director, and authorised signatory, and may ask for more from companies with overseas owners or higher risk activities.
Traditional banks compared with neobanks
Traditional banks offer branches, cheque books, and broad trade finance, but tend to ask for more documents and, on some accounts, a minimum balance. Digital providers such as Wio and Mashreq NeoBiz open accounts online in a few days, publish flat monthly fees, and often waive minimum balance requirements, though their cash and branch services are limited. As of 18 June 2026, Wio Business advertises an Essential plan at 99 dirhams a month and Mashreq NeoBiz a Lite plan at 200 dirhams a month, each with no minimum balance. Confirm current pricing with the provider.
Requirements and documents
Most banks in the United Arab Emirates ask for a similar core set of documents, as of 18 June 2026. Verify with the provider
- A valid trade license, certificate of incorporation, and the memorandum and articles of association for the company.
- Passport copies, Emirates ID for residents, and proof of address for every shareholder, director, and authorised signatory, plus a board resolution authorising the account.
- Proof of a business address, such as an Ejari tenancy contract or a free zone lease, and a company profile describing the activity. Some banks also request VAT registration or expected turnover.
How to open an account
- Confirm your trade license is active and gather the company and owner documents listed above.
- Choose between a digital provider for fast online onboarding and a traditional bank for branches, cheque books, and trade finance.
- Apply online or at a branch, complete the know your customer checks, and verify current fees and eligibility with the provider before you fund the account.
Compare business accounts available in United Arab Emirates
These providers accept business customers in United Arab Emirates. Fees and eligibility shown as of 18 June 2026. Confirm current terms with the provider before applying.
Compare business accounts →Questions about business banking in United Arab Emirates
Can a non resident open a business bank account in the United Arab Emirates?
How long does it take to open a business account in the United Arab Emirates?
Is there a free or zero balance business account in the United Arab Emirates?
Do Wise and Revolut offer business accounts in the United Arab Emirates?
Fees, features, and eligibility change and vary by region. This page was last reviewed on 18 June 2026. Confirm current terms with the provider before applying.