Opening a bank account in the UAE

Why is it beneficial to open a bank account in the UAE?

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Reliability and stability

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The UAE banking system is considered one of the most resilient in the world: strict compliance, a high level of asset protection, and the country’s political neutrality ensure the safety of your funds.

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Convenience of international transactions

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A UAE bank account allows you to freely carry out transactions with partners worldwide in any currency, pay contractors, and work with foreign platforms without restrictions.

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Stable national currency

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The dirham has been pegged to the US dollar for more than 20 years, eliminating currency risks and making financial planning predictable for both businesses and individuals.

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Prestige and partner trust

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Having a bank account in the UAE increases credibility with investors, clients, and international partners, underlining the seriousness and transparency of your business.

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Corporate bank account

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“Opening an account is more complex than company registration, as each bank has its own requirements, internal review procedures, and compliance rules that change frequently.” Artur Faniev Commercial Director

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Documents

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Each bank requires a different set of documents. Typically requested:

• Passport
• CV of the director/shareholder
• Emirates ID of the director/shareholder
• Residence visa of the director/shareholder
• Office lease agreement for the company
• Apartment lease agreement for the director/shareholder
• Company presentation and business plan
• Signed contracts confirming future financial flows (advantageous for approval)

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Opening a corporate account requires an in-person interview with the bank manager. We prepare you in advance and accompany you during the interview.

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Timeframe

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Depends on company type, nationality of shareholders/beneficiaries, and business activities (e.g., consulting is a “red flag” for banks and may take up to 9 months).

• Mainland company: from 3 weeks to 3 months
• Free Zone company: from 1 to 4 months

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Personal bank account

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“Opening a personal account is easier than a corporate one. However, the timeframe depends on the specific bank and its internal processes. The document package and KYC procedure also differ. We are ready to provide full end-to-end support for account opening.” Sergey Kovalkov Head of International Incorporations Practice

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Documents

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Requirements vary by bank. Typically requested:

• Passport
• CV of the individual
• Emirates ID of the individual

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Timeframe

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Standard: 1–4 weeks. If enhanced due diligence is required, the process may take longer.

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Process of opening a bank account in the UAE

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1. Bank selection Based on your needs, we prepare a list of banks that are realistically ready to open an account for your company or personally for you. We explain differences in requirements, fees, and timelines.
2. Document collection and preparation We help gather the complete package of documents, check them against banking standards, create an electronic file, and submit it to the bank — significantly speeding up the process and reducing rejection risk.
3. Interview with the bank manager We prepare you for possible questions, simulate interview scenarios, and accompany you during the meeting to ensure everything goes smoothly.
4. Compliance checks The bank performs strict KYC/AML checks. We handle communications, respond to requests, provide clarifications, and protect your interests to ensure the process is completed as quickly as possible.
5. Successful account opening Once compliance is complete, the bank issues the account details and activates the account.

Advantages of opening an account with Futura Law

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1. Real access to UAE banks We know the requirements of specific banks and only select those where the client has a real chance of account approval — avoiding unnecessary rejections and long waiting periods.
2. Risk mitigation during compliance Compliance in UAE banks is among the strictest worldwide. We analyze your case in advance, prepare documents and arguments, and minimize risks to increase the chances of approval.
3. Full support throughout the process From initial consultation and interview preparation to negotiations with the bank and receipt of account details — we guide you at every step. You don’t need to navigate local rules and bureaucracy on your own.
4. Experienced team in the UAE Our team in Dubai and Abu Dhabi includes over 20 specialists who work daily with UAE banks and government institutions. We know all the nuances and provide support in English, Russian, and Arabic — without barriers and with guaranteed accuracy at every stage.