What UAE banks ask for, how to present your business model, and the KYC dossier that gets your IBAN activated without back-and-forth.
Why banks are strict
UAE banks apply rigorous Know Your Customer and anti-money-laundering checks. They need to understand who owns the company, where the money comes from, and who you will trade with.
Your KYC checklist
Trade licence, Memorandum of Association and share certificates.
Passport, visa and Emirates ID for every shareholder and signatory.
A short business plan describing activities, expected turnover and key counterparties.
Proof of address, CVs of shareholders and, where available, existing client contracts or invoices.
MOULAY tip: Not sure which option applies to you? Run your numbers in our setup cost estimator before you commit.
Choosing the right bank
Digital banks such as Wio can open accounts quickly for service businesses, while traditional banks like Mashreq and Emirates NBD suit companies needing trade finance or high transaction volumes. We prepare one dossier and route it to the bank most likely to approve your profile.