Documents a bank wants for a new company account

The situation

UAE banks apply Central Bank customer due diligence rules. They must know the owners, the source of funds and the real business before opening an account.

The law

• Federal Decree-Law 10 of 2025 on AML and CFT: Banks must identify customers and beneficial owners and understand the business
• Cabinet Resolution 109 of 2023: A beneficial owner holds 25 percent or more of capital or votes, or controls the entity

What it means for you

Rejections usually come from a thin story, not missing stamps. Give the licence, memorandum, share register, passports, visas and Emirates IDs of owners, the lease, a short business plan, and proof of real activity such as contracts or invoices. Show where the starting capital came from, for example a salary account or the sale of an asset. Apply to two banks at once to save time.

What to do

1. Prepare the corporate pack: licence, memorandum, share register, lease.
2. Add owner KYC: passport, visa, Emirates ID, CV.
3. Write a one-page business plan with expected clients and countries.
4. Attach proof of funds and two real contracts or quotes.
5. Apply to two banks in parallel.

Related

• Full foreign ownership of a mainland LLC
• First-year compliance calendar for a new company
• Sole establishment or LLC for a small trading business
• Corporate Tax registration deadline for a new company
• VAT registration when starting a mainland company
• Mainland versus free zone for a services business