Commercial Bank
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Bank accounts in the UAE: changes and innovations

Unfortunately, in the UAE there are only a few banks that work with offshore, it is:
Emirates NBD, and the bank requires that the average monthly account balance be maintained at least $ 137,000;
United Arab Bank, and the bank requires that the average monthly balance on the account be maintained at least $ 100,000;
RAK Bank, and the bank requires that the average monthly account balance be maintained at least $ 275,000.
In addition, in order to apply for opening accounts of offshore companies in these banks, the owner of the company (shareholder) must be a resident of the UAE – in order to have a rationale for why you need a bank account in the UAE.
We will help you get a UAE resident visa. Contact us to open a corporate bank account in the UAE at the United Arab Bank, at the Emirates NBD, at the RAK Bank.
Address confirmation when opening bank accounts in Emirates NBD and Mashreq Bank banks
Emirates NBD, following Mashreq Bank, began to demand confirmation of residence in the UAE. Now, if the signatory on the account is the holder of the UAE resident visa, the bank asks to provide a copy of the rental agreement for an apartment in the UAE or a letter from a friend / acquaintance who confirms that the person lives with him.
We will help you open a personal bank account in the UAE at Emirates NBD Bank and at Mashreq Bank.
List of “gray areas” when opening a bank account in the UAE
Banks have entered a tacit list of “gray areas”: if a company is registered in one of them, then banks need to confirm the presence of a real office, as well as the presence of a United Arab Emirates resident visa from a signatory to the account.
Reduction of requirements when opening a bank account in the UAE at Mashreq Bank
Mashreq Bank has removed the requirement for a real office for companies that are registered in free zones. However, for companies that provide consulting services and the word “consultancy” is present in the license in the form of activity, such a requirement remains.
We will help you open a corporate bank account in the UAE in the bank Mashreq.
Dollar transfers within the UAE. Despite various rumors, there is no ban on dollar transfers within the country. However, if companies registered in the United Arab Emirates make payments among themselves in US dollars (using a bank transfer within the UAE banking system), then such a bank transfer may be subject to more detailed consideration by the bank.
Opening a bank account in the UAE for companies engaged in cryptocurrency
You can often hear the question of registering companies (and opening accounts) that will deal with cryptocurrency – today there is no such possibility. Moreover, as soon as the banks see that the company acts as a “wallet” for operations, they close their accounts to it. In the UAE there is a company that is often cited as an example and they say “we want the same”, however, this company constantly changes banks and names (that is, in fact, they are constantly different companies, just the site remains unchanged), as banks after a while time closes her accounts.
What is important for a bank when opening an account in the UAE?
In general, the rule “loyalty of the bank and its interest depends on the balance that the client keeps on the account” comes to the fore. What is important is not a turnover, namely the average monthly balance.