Open your business account
in the UAE in 24 hours.
With Grow From Dubai, applying for your business account is hassle free & convenient in
3 simple steps
- Fill the application form online on our award-winning platform
- Complete digital KYC process
- Complete Verification and start using your account
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Whatever stage your business is in, we have an account for you
Designed specifically for entrepreneurs, micro-SMEs and small businesses, our Business Account Banking Partners makes banking simpler and more secure, giving you more time to grow your business
Lightning-Fast Setup
Register within 1 Business Day
Cost-Effective Fees
Only AED 1500 to initiate the process
Schedule a Meet
with your Banking Partner
24/7 Support
Non-stop assistance, Just for you!
Unlock Multi-Currency
Enjoy the convenience of handling various currencies all in one place
Eligibility criteria for a UAE Business Banking package
- Your business must be a registered legal entity in the UAE.
- A valid UAE Trade License or Certificate of Incorporation from an authorized UAE body is required.
- Valid Emirates IDs or passports for all partners and authorized signatories are mandatory.
- You must provide a Memorandum of Association (MOA), Articles of Association (AOA), or a Board Resolution.
- A six-month bank statement is necessary for existing companies, or from the partner for newly established companies.
- Proof of address, such as a tenancy contract, must be provided.
Get Guaranteed Bank Account on Time with Our Bank Account Opening Assistance
GFD Marketplace provides guaranteed business bank account opening in the UAE. Our team of banking specialists will assess your profile, assist with document collection, and help you select the best business banking solution tailored to your needs. We ensure a smooth and fast compliance process to successfully open your business account in 24 hours.
What does the bank pay attention to when opening a business bank account in the UAE?
Preferred Jurisdictions for Business Registration
Banks prioritize reputable free zones and mainland entities for account openings in the UAE.
Risky Business Activities
Engaging in activities such as general trading, gold trading, or dealing in oil products categorizes your business as high-risk, limiting your banking options. in the UAE.
Verified Shareholder Income
A verifiable source of income for shareholders, such as a payroll statement or a foreign business account statement, is a critical requirement for opening a business account.
Business Activity and Banking Requirements
When applying for a business account, you must detail your company’s operations, potential suppliers, and customer base. Banks will evaluate the credibility of these partners and, based on your projected turnover, classify your account under SME or Corporate Banking. Additionally, most traditional banks in the UAE require a minimum account balance, typically starting at AED 50,000.
Why Grow From Dubai?
Expert Team
Our company's main asset: A professional team with extensive experience in banking
Wide Partner Network
Trusted partnerships: We work with top banks locally and internationally
One-stop-shop Approach
All-in-one business support: We provide everything your business needs without the hassle of searching for multiple partners
Frequently Asked Questions
- Your registered company documents from UAE licensing jurisdiction
- Emirates ID of all shareholders
- CV of all shareholders
- Last three months’ bank statements
- Proof of address (utility bill or tenancy contract)
- Company profile
- VAT registration, if applicable.
The timeframe for onboarding clients varies as each Financial Service provider (FSP) has its own internal procedure and timeframe for account opening. However, it generally takes approximately 1 to 4 weeks to open a corporate account.
Yes, an Emirates ID of an authorized signatory(s) of the company is a mandatory requirement for the account opening.
Most local Financial Service providers (FSP) in the UAE require a minimum balance to be maintained, which varies depending on the FSP. Generally, corporates must maintain a minimum balance of AED 10,000 to AED 500,000. However, zero balance facilities are also offered with a minimum account maintenance fee.
Yes, you can start the process of opening your account remotely. However, you may require to be present in UAE depending on your chosen Financial Service Provider (FSP) to fulfill the verification requirements.
For digital FSP, the onboarding process is entirely online compared to the traditional FSP.
A virtual account (VA) or a Virtual IBAN account is an IBAN reference issued by a bank to allow incoming payments to be directed to a physical bank account. Virtual accounts can be used to send and receive payments globally.
Generally, it should take around 5 working days from the moment an application is submitted to receive the IBAN.
The funds will go directly to the master account registered for the Virtual Account. With this master IBAN account companies can create and allocate a segregated virtual IBAN account to each of their customers to send and receive payments.
Yes, the virtual IBAN is issued to your company name.
Yes, it supports SWIFT transfers in multiple currencies, both inbound and outbound.
- Financial institutions are regulated by the Central Bank of UAE and furthermore regulated and d by internal compliance policies.
- GFD Marketplace does not take any responsibility for opening a bank account.
- Bank account opening is fully governed and solely operated by each bank partnered with GFD Marketplace.
- GFD Marketplace cannot guarantee that banks require additional documents individually.
- GFD Marketplace does not guarantee that these entities can fully meet your service needs or your needs in every respect.
- Financial institutions have internal policies over which GFD Marketplace has no control.
- GFD Marketplace is not liable for the services provided by any of these entities.
- Neither our representatives nor our agents will be able to transfer or provide authority through a Power of Attorney (POA).
We have successfully opened 15,000 bank accounts for SMEs in UAE
Easy Way to manage your Business
Easy to use mobile app that support on android and ios.
