If you plan to engage in cross-border trade, maintaining a local account helps keep spending organised and improves record-keeping for VAT and audits. It simplifies payroll, supplier payments, and inward remittances. You also gain clearer banking history, easier compliance checks, and faster settlement for routine bills, customs duties, and subscriptions locally.
This article keeps business account opening in UAE practical, so you can prepare the right paperwork and set realistic timelines.
Table of Contents
What Fees Should You Budget For
Fees differ by institution, activity, and usage pattern. Expect some of the following:
- One-time account setup or processing costs.
- Monthly maintenance if balances fall below the agreed threshold.
- Local transfer and international remittance charges.
- Card issue or replacement fees, ATM usage, and cash deposit handling.
- Additionally, budget for attestation and translation during the onboarding process.
Minimum Balances and Practical Workarounds
Most current accounts require an average monthly balance. SME-friendly ranges commonly fall within the AED 10,000* to AED 50,000* band. If you plan to open business bank account in Dubai while running a lean cycle, you could:
- Choose a plan with a lower threshold but a small recurring fee.
- Time receivables so averages stay steady rather than peaking at the end of the month.
- Park surplus in a fixed deposit to meet the requirement while earning returns.
Documents You Will Need
A tidy file speeds reviews. Typical items include:
Also Read
- Trade licence, incorporation papers, share certificates, and MOA or AOA.
- Passports of shareholders and signatories, as well as Emirates IDs, where available.
- Proof of address and tax details for Indian promoters or directors.
- Company profile, sample invoices or contracts, and a brief note on the source of funds.
- Board resolution for the company bank account opening in Dubai, if required by your structure.
How Long Does it Take
Turnaround depends on entity type, activity, and clarity of ownership. Straightforward cases can close in one to two weeks once KYC is complete. Complex ownership trees or cash-heavy operations tend to extend timelines. Keep signatories available for video or in-person verification, reply promptly to queries, and ensure names and addresses match across jurisdictions.
Tips For Indian Founders
Here are the tips for Indian Founders:
- Map expected inflows and outflows before you open business account in Dubai, then pick a fee plan that fits your usage.
- Keep consistent spellings across passports, licences, and utility bills.
- Prepare an AML policy and a basic bookkeeping flow.
- Maintain a checklist of all documents shared and keep scanned copies readily available.
- Request the full fee sheet in writing, including details on the limits for free transfers.
- Ask how inward remittances are credited and what proofs are needed for foreign invoices.
Final Thoughts
Open with preparation and maintain clean paperwork. When you approach business banking methodically, fees are predictable, minimum balances are manageable, and timelines stay reasonable. If you begin early on documentation and respond quickly to KYC, the business will move faster after approval. With that groundwork, business account opening in UAE becomes a structured task, not a hurdle. Contact DhanGuard today — your trusted partner for effortless and compliant business banking solutions in the UAE.
