A corporate bank account is essential for any RAK company. RAKEFZ guides you through UAE bank selection, compliance documentation and account opening so you can start transacting.
RAK companies can open accounts with UAE local banks, digital banks and some international banks. Choice depends on activity, client geography and compliance profile.
Emirates NBD, ADCB, Mashreq and FAB normally require the authorised signatory to present a valid Emirates ID in branch. That ID is only issued after medical, biometric and residence-visa stamping. Plan your visa before bank opening.
Wio, Liv. Business and some EMI providers may open accounts remotely with only a passport and licence for certain low-risk activities. Transaction limits and FX services are usually narrower than traditional banks.
Make sure your RAK company has an active licence and at least one shareholder or director who can obtain UAE residency and an Emirates ID if you want a traditional UAE bank account.
Prepare the licence, memorandum, passports, proof of address, business plan, 3–6 months of bank statements and any corporate attestations. Be ready to explain the source of initial capital and expected client flow.
Traditional UAE banks offer full AED, USD and trade-finance services but require an Emirates ID. Digital banks can onboard faster and remotely for some profiles. International banks suit clients with cross-border revenue.
Send the compliance pack to the bank. RAKEFZ formats the file to match each bank's checklist and introduces you to the relationship manager.
Most banks ask the signatory to attend a short interview or video call. Expect questions about activity, clients, transaction volumes and source of funds.
Banks may ask for extra documents. Once approved, receive account details, debit cards, chequebook and online-banking credentials.
Open a digital account first, or complete your visa before applying to a traditional bank.
Choose banks that accept non-resident structures and provide legalised corporate documents plus a business plan.
Prepare additional licences, compliance policies and client evidence. RAKEFZ matches you with banks familiar with your sector.
Provide 3–6 months of statements, invoices or investment agreements that explain where capital comes from.
Disclose any shareholders, clients or transactions linked to sanctioned jurisdictions upfront.
Submit the full licence pack, memorandum, share certificates and attested corporate documents.