UAE is an investor-friendly destination with world-class business infrastructure, banking facilities, business ecosystem, political stability, improved lifestyle, and more. There are Top Banks in UAE that offer best bank accounts in the world.
For an investor, Bank Account Opening in UAE is the next important step after the successful company incorporation. Dubai is home to numerous top banks and they offer some of the best banking services to investors.
Aurion majorly works with a host of Business Banking Partners in the UAE to facilitate the opening of a Corporate Bank Account for all our clients.
The robust banking network in UAE enables companies to effectively run their business operations by quickly transacting funds, receiving invoice amounts, paying suppliers, and utilizing the numerous banking services and benefits.
Our team of expert Business Consultants guides the investors to the right Banking Service Provider by analyzing the business requirements.
Best Bank Accounts and Services in UAE
UAE has got some of the best banking service providers that offer a variety of attractive banking services. The Banks in UAE offer the best bank accounts with a host of benefits for all users.
Depending on the specific business requirements and banking needs, there are tailormade products available from the banks in UAE.
1. Emirates NBD
Emirates NBD has a Business Banking Package exclusively for clients who maintain an average deposit of at least AED 50,000*. This Banking Service Package is ideal to support business day-to-day needs and a low level of deposit requirements.
The Emirates NBD Is one of the best banks in UAE. They have a wide network and also support global usage of their Cards. The Bank offer various tiers based on the account balance and a whole lot of offers for the customers.
Note*: If the monthly minimum average drops from AED 50,000; a small penalty will be levied.
Benefits
- Multi-currency Account ( USD, EUR, GBP)
- Access to smart business online platform for effectively tracking and managing the transactions
- Dedicated Call Center Support for answering all queries.
- Wide range of Branches, Cash Deposit Machines across the UAE
1. Business Banking Plus
Business Banking Plus is an ideal choice for investors who maintain average deposits of at least AED 200,000. The Emirates NBD Bank is one of the top rated business bank in the UAE. Their relationship manager will provide all the details of the premium business banking products.
This financial product has a set of additional benefits for the investors like:
- Dedicated Relationship Manager for answering all your queries
- Competitive Foreign Exchange & Telegraphic Transfer rates.
- Unlimited free checkbooks
- special rates on deposits and investments
- Discounted or Free charges on daily transactions
- Priority access to all banking services during branch visits.
Note* If the monthly minimum average drops from AED 200,000; an amount will be charged as penalty.
2. Business Banking Select
For Investors who maintain average deposits of at least AED 500,000*. The premium business banking Package offers a host of value-added banking services. The Best Banks in Dubai offer several attractive benefits for the account holders. Emirates NBD’s Business Banking Select is one such financial product.
Key Benefits
- Competitive Foreign Exchange rates and Telegraphic Transfer rates
- Preferential rates on Trade Services, deposits, and investments
- Free or discounted charges on daily transactions
- Corporate events to help business
- and free access to a lot more value-added services
Note* If the monthly minimum average drops from AED 500,000; monthly an amount will be charged.
To know more about eligibility and documents required for various banking requirements visit the Emirates NBD website.
2. Mashreq Bank Neo Biz Account
Mashreq Bank has a tailor-made Corporate Business Account for SMEs and Entrepreneurs. The account opening process is seamless through the Mashreq Bank Website or the Mobile App.
Investors can choose from the three business banking accounts. The most popular package is the Basic with a no minimum balance, low monthly maintenance fee, and a host of other benefits.
Mashreq Bank is one of the top banks of UAE with a host of attractive financial products such as Credit Cards, Investment and business loans, etc.
Then there is an advanced corporate banking package with an AED 50,000 average monthly balance, no monthly maintenance fee, etc. It is an ideal choice for small businesses that require financial support to scale up the business effectively.
Document Required for Opening Neo Biz Account
- Trade License Copy
- Memorandum of Association
- Board Resolution or Power of Attorney – provides authority to open and operate bank to managers/directors
UAE address proof - Identity Documents of Owner and Signatories- Passport, VISA, Emirates ID
- Any supporting documents as requested by the bank (supplier, buyers, and business details, invoice copies, etc.)
3. RAK Bank Business Account
RAK Bank has a customized account for business owners and entrepreneurs termed the RAK Business Starter Account. It is another top bank in UAE that is preferred by all due to its low interest rate loans and attractive financial products such as Credit Cards.
The account opening is a simple two-step process. There are few documents required before you begin the process.
Documents Required for the RAK Starter Account
- Company Trade License
- Investor or Signatories Passport and Visa Page Copy
- Copy of the Emirates ID of all signatories
- Board Resolution, share certificate, power of attorney to authorize the manager/director to operate and manage the account
- Supplier and buyer details, nature of the business, Shareholder/Investor profile, expected annual turnover
- Any supporting company documents as a request by the bank personnel (Memorandum of Association, Articles of Association, Share Certificate, Partners/Service Agreement, etc.)
All the above documents need to be uploaded along with the application form online (RAK Bank Website).
Once the application is through, the bank personnel will review the profile and once the Know-Your-Customer (KYC) Compliance is met, the account opening will be processed.
The bank official will meet the entrepreneur to discuss more the product offering and take the authorized signature of the investor/signatory.
4. Banque Misr
Banque Misr one of the most popular Banks in Egypt is expanding its presence in the UAE by opening a new branch in Dubai and the UAE headquarters.
The Bank aims to provide financial products to entrepreneurs. SMEs and investors to scale up and sustain their business easily.
Bank has a wide range of Microfinancing and small-medium enterprise finance options ranging from 5000 EGP to 500,000 EGP catering to the various range of business investments.
Documents Required for Corporate Bank Account Opening
- A copy of the trade license
- Investor personal profile and identification documents
- Recent utility bills and existing bank account details
- Copy of tax residence certificate
- Last 3 months bank statement and transaction details of the company
- Copy of last insurance payment receipt (not less than 3 months)
- Any other supporting documents as requested by the bank personal.
Explore the Banque Misr website to more about their financial products.
Digital banking Services
Digital Banks are becoming popular in UAE as the new generation are tech saavy and are open for digital transactions. There are many digital banks in UAE and one of the top is WIO Bank.
WIO Bank offers the account holders numerous benefits and relatively higher interest rates for their savings account holders. Also, they have a separate business banking sector that offer competitive business banking services.
To know more about Corporate Bank Account Opening in UAE, connect with our expert team right away!
