Company Incorporation in the UAE & Bank Account Opening Requirements

1. UAE Company Incorporation Requirements

  • Common company structures: Mainland LLC, Free Zone Company (FZ-LLC / FZE), or Offshore Company.
  • 100% foreign ownership is allowed in most Free Zones and many Mainland activities.
  • Minimum 1 shareholder (individual or corporate).
  • Minimum 1 director/manager (can be foreign).
  • Registered office address in the UAE (physical or flexi-desk depending on jurisdiction).
  • Trade name approval from the relevant authority.
  • Business activity approval (activities must match the license).
  • Initial approval from licensing authority (DED or Free Zone Authority).
  • Memorandum & Articles of Association (MOA/AOA).
  • No minimum paid-up capital for many Free Zones (varies by jurisdiction and activity).

Required Documents for Incorporation

  • Passport copies of shareholders and directors.
  • UAE entry stamp or visa copy (if available).
  • Proof of residential address.
  • Company name options (2–3).
  • Business activity description.
  • Shareholding structure details.
  • Board resolution (for corporate shareholders).
  • Power of Attorney (if using a local service provider).

2. Bank Account Opening Requirements in the UAE

  • Physical presence of shareholders or signatories is usually required.
  • Completed bank application forms.
  • Trade license issued by DED or Free Zone Authority.
  • MOA/AOA and incorporation documents.
  • Company lease agreement or flexi-desk contract.
  • Board resolution authorizing bank account opening.
  • Business plan and detailed activity explanation.
  • Proof of business activity (contracts, invoices, website).
  • Strict KYC/AML checks including source of funds and source of wealth.
  • Minimum balance requirement varies by bank (commonly AED 50,000–500,000).

Documents Typically Required by Banks

  • Trade License.
  • Certificate of Incorporation.
  • MOA/AOA.
  • Share certificates.
  • Directors’ and shareholders’ passports.
  • Proof of residential address.
  • Board resolution.
  • Business plan and financial projections.
  • Contracts or proof of counterparties.
  • Source of funds and source of wealth documentation.
  • Ultimate Beneficial Owner (UBO) declaration.