Once your application has been processed, the government will issue you with your company licence. Regardless of setup location, you’ll usually only require a few standard documents: a completed application form, shareholder passport copies and the like. Some free zones may also require you to provide a business plan.
Once your paperwork has been returned, you will have all the documentation you need to open your corporate bank account. The UAE is home to many banks, both local and international, including;
- Emirates NBD
- Abu Dhabi Commercial Bank
- Commercial Bank of Dubai
- Noor Bank, Emirates Islamic, Mashreq, RAKBANK and Ajman Bank.
There are also global names such as HSBC, Citibank and Barclays. Choosing the one that’s right for you will depend on your specific requirements.
You will need a bank account before you can begin trading in the UAE.