Category: Bank Account UAE

How to Open a Bank Account in Dubai from India?
Dubai is no longer just a travel or business destination; it’s also a preferred banking hub for many Indians. From smoother international transactions and access to multiple currencies to better support for global business and investments, having a bank account in Dubai offers several practical benefits. This is especially helpful if you deal with overseas clients, earn foreign income, or plan to expand your financial presence beyond India.

A common question many people ask is, “Can I open a bank account in Dubai from India?” The answer is yes. Indians can open both resident and non-resident bank accounts in Dubai, depending on their purpose and eligibility. If you are also planning to set up a business, explore our company formation services in Dubai — a registered company is required for a corporate bank account.

While the process may vary based on the bank and account type, it is very much achievable with the right documents and guidance. So, here’s the complete process of bank account opening in Dubai, eligibility, documents, and steps to help you open a bank account in Dubai from India smoothly and without confusion.

Banking Landscape in Dubai, UAE

Dubai’s banking system is known for being modern, secure, and highly international. It caters not only to UAE residents but also to non-residents and foreign nationals, which is why bank account opening in Dubai has become increasingly popular among Indians. Many UAE banks have deep ties with India, and several Indian banks even have a physical presence in Dubai’s financial hubs like the DIFC (Dubai International Financial Centre).

Types of Banks Available

When looking to open an account, you’ll generally choose between two types of institutions:
- Local UAE Banks: These are the heavyweights of the region, such as Emirates NBD, Abu Dhabi Commercial Bank (ADCB), and Mashreq Bank. They offer the most extensive branch networks and specialised local services. RAK Bank is also a popular choice for Indian entrepreneurs. See our guide on how to open a company account with RAK Bank.
- International Banks: Global giants like HSBC, Standard Chartered, and Citibank operate extensively in Dubai. These are often the go-to choice for non-residents because they excel at cross-border transactions and offer seamless connectivity if you already have an account with them in India.
- Digital-Only Banks: Newer players like Liv. (by Emirates NBD) and Mashreq Neo offer a 100% mobile experience, though these are typically easier to open once you have a residency visa.
What are the Benefits of Banking in Dubai for Indians?

Why are so many Indians looking toward Dubai for their banking needs? Beyond just the prestige, a Dubai bank account acts as a powerful financial tool for your global ambitions. Here are the core benefits:

1. Multi-Currency Freedom

Most Dubai accounts allow you to hold money in AED, USD, EUR, and GBP simultaneously. This is a lifesaver for business owners who want to avoid the constant sting of conversion fees and exchange rate fluctuations.

2. Next-Gen Digital Banking

Dubai is a global leader in Fintech. You can manage your entire portfolio, make international transfers, and even invest in global gold or stock markets through a single, highly secure mobile app.

3. Better Support for International Business and Investments

Dubai banks are experienced in handling global business transactions, trade-related payments, and investment-linked accounts. This makes bank account opening in Dubai especially beneficial for Indian entrepreneurs and investors who operate across borders or plan to explore business opportunities in the UAE.

4. Smooth International Transactions

Dubai’s banking system is well-connected globally, which means faster and more reliable international transfers. Whether you’re sending money to India or receiving funds from abroad, transactions are usually quicker compared to many traditional banking systems.

5. Flexible Account Options

Banks in Dubai offer a wide range of account types, including personal, non-resident, and business accounts. This flexibility makes bank account opening in Dubai suitable for salaried individuals, freelancers, investors, and business owners alike.

6. Tax Efficiency & Wealth Growth

The UAE offers 0% personal income tax and no tax on capital gains or inheritance. For Indians who qualify as NRIs, see our UAE vs India taxation comparison — your foreign-earned wealth can grow much faster without being eroded by taxes.

Types of UAE Bank Accounts You Can Open as an Indian

When planning to open a bank account in Dubai from India, it’s important to choose the right type of account based on your purpose.

1. Personal Bank Accounts

Personal accounts are ideal for everyday banking needs such as savings, payments, and money transfers. These accounts are commonly used for salary deposits, managing daily expenses, and holding personal savings. If you plan to live or work in the UAE, this is usually the most suitable option for bank account opening in Dubai.

Perks: You get a full-service account including a chequebook, a debit card, and access to credit cards or personal loans.

Minimum Balance: Usually quite low, starting around 3,000 AED.

2. Non-Resident / Offshore Bank Accounts

Non-resident or offshore accounts are designed for individuals who do not live in the UAE. This option is popular among Indians who want international banking access without relocating. These accounts are commonly used for savings, international transactions, and investment purposes.

Limitations: Usually, you only get a Savings Account (not a Current Account). You’ll get a debit card for ATMs, but typically no chequebook or credit facilities.

Minimum Balance: Much higher than resident accounts, expect to maintain between 25,000 AED to 100,000 AED depending on the bank.

3. Corporate/Business Bank Accounts

Corporate or business bank accounts are meant for entrepreneurs, startups, and companies operating in or from the UAE. These accounts are essential for managing business transactions, paying suppliers, receiving client payments, and maintaining clear financial records. Business owners looking to expand into the UAE market often open these accounts alongside company registration in Dubai.

Perks: Multi-user access, trade finance tools (like Letters of Credit), and higher transaction limits for international business.
Most LLC companies in Dubai are required to have a dedicated corporate bank account as part of their setup.

4. Specialised Bank Accounts

Dubai is a global leader in diverse financial products that cater to specific needs:
- Multi-Currency Accounts: Hold and trade in AED, USD, EUR, and GBP within a single account. This is a favourite for Indian exporters.
- Islamic Banking: These accounts follow Sharia principles (interest-free). Instead of interest, you earn a share of the bank’s profit.
- Premium / Priority Banking: If you maintain a high balance (usually over 200,000 AED), you get a dedicated Relationship Manager, free airport lounge access, and better exchange rates for sending money back to India.
Note: Business accounts in the UAE must also align with UAE VAT and taxation requirements for full compliance.

Eligibility Criteria to Open a Bank Account in Dubai for Indians

To open a bank account in Dubai from India, you need to meet specific eligibility rules. While the UAE is very open to international banking, they have strict Know Your Customer (KYC) standards to keep the system secure.

Here is the breakdown of the eligibility criteria for Indian applicants in 2026:

1. Residency Status

Non-Residents: You can open an account even if you live in India and don’t have a UAE visa. However, you will usually be limited to a Savings Account (no chequebooks).

Residents: If you have a UAE Residence Visa (Work, Investor, or Golden Visa) and an Emirates ID, you are eligible for Full-Service Accounts, including current accounts and credit facilities.

2. Minimum Age Requirement

Most banks require you to be at least 18 years old to open a personal account. For some premium or corporate accounts, the minimum age may be 21 years.

3. Financial Standing

Minimum Balance: This is the most important hurdle for non-residents. While residents can open accounts with as little as 3,000 AED, non-resident accounts often require a minimum monthly average balance ranging from 25,000 AED to 100,000 AED (approx. ₹5.7 Lakhs to ₹23 Lakhs).

You must be able to prove where your money comes from. Banks will look for a steady income, business earnings, or legal investment returns.

4. Physical Presence (Important)

Even if you start the application online from India, most Dubai banks require a one-time physical visit to the UAE to verify your original passport and sign the final documents in front of a bank officer.

Note: Some Digital First banks and premium wealth management services may offer remote onboarding via video verification, but this is usually reserved for high-net-worth individuals.

For Indian entrepreneurs, read our guide on Dubai company setup for Indian startups — company registration is step one before opening a business bank account.

Documents Required for Indian Citizens

To open a bank account in Dubai from India, you’ll need to gather a specific set of documents. Here is the checklist of what you will need for 2026:
- A. Documents Required for a Personal Bank Account
- For Indians applying as residents or non-residents, banks usually ask for the following:
- Valid passport (Indian passport with a clear copy)
- Passport-size photographs (as per bank requirements)
- Proof of address (such as a utility bill, rental agreement, or bank statement)
- Recent bank statements (from an Indian bank, usually last 6 months)
- Proof of income (salary slips, employment letter, or business income proof, if applicable)
- Bank reference letter or No Objection Certificate (NOC) — requested by some banks, especially for non-resident accounts.
- UAE residence visa & Emirates ID (mandatory for resident accounts; not required for non-residents)
B. Documents Required for a Business Bank Account

To open a business account, you must first have a registered legal entity in the UAE (Mainland, Free Zone, or Offshore). The bank will require documents for both the Company and its Shareholders.
- Company trade license issued in the UAE
- Certificate of incorporation/business registration documents
- Memorandum and Articles of Association (MOA/AOA)
- Passport copies of shareholders and directors
- UAE residence visa & Emirates ID of shareholders/directors (if applicable)
- Company address proof (office lease agreement or Ejari, if available)
- Business profile or brief business plan
- Proof of business activity (contracts, invoices, or agreements, if requested)
Note: Some banks may require documents to be notarised, attested, or translated into English or Arabic, especially when you open a bank account in Dubai from India as a non-resident. Use our UAE business compliance checklist to make sure all your documents are in order before applying.

Open your UAE corporate bank account — our desk has 90%+ approval rate.

How to Open a Bank Account in Dubai from India in 2026

Opening a bank account in Dubai from India is a structured process. While many banks now offer digital applications, the UAE’s strict compliance rules mean you’ll need to follow these steps carefully to ensure your application isn’t rejected.

1. Choose the Right Bank and Account Type

Start by selecting a bank that suits your needs and decide whether you need a personal, non-resident, or business account. Compare minimum balance requirements, fees, digital banking features, and eligibility before moving ahead with bank account opening in Dubai. For example, see our step-by-step guide to open an Emirates NBD account — one of the most popular choices for Indian entrepreneurs. Or explore how to open a company account with RAK Bank — popular for SMEs and free zone companies.

2. Prepare & Attest Your Documents

This is where most people face delays. Gather your passport, 6 months of Indian bank statements, and proof of address. If you are opening a Corporate Account, your Indian company documents must be attested by the UAE Embassy in India and then by the Ministry of Foreign Affairs (MOFA) in the UAE.

3. Initial Online Application

You can submit your application online, through email, or via an authorised banking or business setup consultant like Shuraa India. Fill out the basic details and upload your scanned documents.

Clearly state the purpose of the account (e.g., “Investment in Dubai property” or “International business expansion”). Banks are much more likely to approve accounts with a clear link to the UAE economy.

4. Video KYC or Physical Verification

Digital Banks: You might be able to complete a Video KYC where you show your original passport over a secure video call.

Traditional Banks: Most still require a one-time physical visit to Dubai. You will meet a relationship manager at a branch to sign the Signature Card and show your original documents.

5. Compliance Review (The Waiting Period)

Once your documents are in, the bank’s compliance team will run a background check. Personal accounts usually take 1–2 weeks. Corporate accounts can take 4–8 weeks because the checks are much deeper. Be ready to answer follow-up emails about specific transactions in your Indian bank statements.

6. Make the Initial Deposit

Once the application is approved, you’ll be asked to deposit the minimum required balance. The amount depends on the bank and account type and is a key step in bank account opening in Dubai.

7. Account Activation

After the deposit is made, the bank activates your account. You’ll receive your account details, IBAN (International Bank Account Number), online banking access, debit card, and cheque book (if applicable).

Shuraa’s banking team has helped 80,000+ Indian businesses open UAE corporate accounts — get expert banking guidance today.

Best Banks in Dubai for Indians

If you’re planning to open a bank account in Dubai from India, choosing a bank that understands non-resident and expat needs is important. Below are some of the most preferred banks among Indians.
- Emirates NBD: One of the largest banks in the UAE, known for strong digital banking, easy international transfers, and a wide ATM network across Dubai.
- Mashreq Bank: Popular for its digital-first approach, Mashreq offers quick account opening, simple mobile banking, and flexible account options for non-residents.
- RAK Bank: Known for competitive fee structures, straightforward account options, and good support for expats and non-resident clients.
- Abu Dhabi Commercial Bank (ADCB): Known for reliable customer service and smooth international transactions, making it a good choice for both personal and business banking needs.
- Dubai Islamic Bank (DIB): A leading Islamic bank offering Sharia-compliant personal and business accounts with modern digital banking features.
- First Abu Dhabi Bank (FAB): One of the UAE’s largest banks, FAB is suitable for individuals and businesses looking for stability and global banking support.
- HSBC UAE: Ideal for those who need international banking access, global account connectivity, and strong cross-border transaction services.
Can You Open a Bank Account Remotely from India?

Yes, in many cases, it is possible to open a bank account in Dubai from India without travelling to the UAE. Most major banks like Emirates NBD, Mashreq, and RAKBANK allow you to start your application online or via their mobile apps from India. You can remotely fill out forms, upload scanned documents (Passport, Indian address proof, bank statements), and undergo initial compliance checks.

However, to officially activate the account, most traditional banks still require a one-time physical meeting. This is because UAE central bank regulations require a bank officer to see your original passport and physical entry stamp. Many Indians combine this with a short 2-day business or leisure trip to Dubai.

Key Compliance for Banking in Dubai

Dubai has significantly tightened its banking rules to maintain its status as a clean, global financial hub. Here is the essential compliance checklist you need to know:

The Zero-Tolerance AML Policy:

The UAE now operates under a strict Anti-Money Laundering (AML) framework. Banks are legally required to verify not just who you are, but where every single Rupee comes from. In 2026, bank officers can be held personally liable if they miss red flags. Expect them to ask deep, detailed questions about your business or income.

Source of Funds vs. Source of Wealth:

As Indian applicants, you must prove two different things:
- Source of Funds (SoF): Where did the specific money for your initial deposit come from? (e.g., a specific property sale in India or your last 3 months of salary).
- Source of Wealth (SoW): How did you build your overall net worth over the years? (e.g., 10 years of professional career, business profits, or inheritance).
FATCA and CRS Reporting:

The UAE and India share financial data automatically under the Common Reporting Standard (CRS). Any balance you hold in Dubai will be reported to the Indian Tax Authorities (Income Tax Department).

Ultimate Beneficial Ownership (UBO):

If you are opening a Corporate Account, you cannot hide behind layers of holding companies. Banks mandate a UBO Declaration, identifying every individual who owns 25% or more of the company. You must provide the passports and address proofs of these owners, even if they aren’t involved in the daily Dubai operations.

Planning to Bank in Dubai? Start the Right Way

Opening a bank account in Dubai from India becomes much easier when you know the process and plan each step carefully. For business owners and entrepreneurs, this is where Shuraa India truly adds value. We don’t just assist with bank account opening – we support you throughout the entire journey.

From company setup in Dubai and trade license issuance to business bank account opening, investor and employee visas, and ongoing compliance support, Shuraa handles everything under one roof. With Shuraa India by your side, you can open a bank account in Dubai from India smoothly while we take care of your business setup and visa procedures from start to finish.

Faq

Q1. Can I open a business account without a UAE company?

No — to open a business bank account in Dubai, you must first have a registered UAE company. Start with mainland company formation or a free zone setup.

Q2. Can an Indian company open a bank account in Dubai?

Yes — Indian companies can open a bank account by first setting up an Indian subsidiary company in Dubai or registering a branch office.
June 5, 2026
How to Open a Company Account in RAK Bank?
Opening a company bank account in the UAE is one of the first and most important steps after starting your business, and RAK Bank (RAKBANK) is a popular choice for many entrepreneurs. RAKBANK is known for being startup-friendly, easy to work with, and supportive of small and growing businesses. With strong online banking services and flexible business accounts, it has become a trusted name for companies across the UAE.

Having a corporate bank account is not just about convenience, it’s a legal requirement. You need it to receive payments from clients, pay suppliers, manage salaries, and handle everyday business expenses. It also helps keep your business finances organised and transparent, which is especially important for VAT, audits, and overall compliance in the UAE.

If you’re starting a new business or already running one and want to open a company account in RAK Bank, this guide is for you.

About RAK Bank (RAKBANK)

RAK Bank, officially known as the National Bank of Ras Al Khaimah, was established in 1976. Over the years, it has grown into one of the most reliable and widely used banks in the UAE. Today, RAKBANK is known for its strong focus on digital banking, customer service, and business-friendly solutions.

Types of Business Customers It Serves

RAKBANK mainly caters to:
- Startups and new businesses
- Small and medium-sized enterprises (SMEs)
- Freelancers and professional service providers
- Foreign-owned companies
- Established local and international businesses
RAK Bank enjoys a strong reputation in the UAE for being practical, supportive, and entrepreneur-friendly. It is especially popular among SMEs for its simple processes, fast support, and modern online banking features. Many business owners prefer RAKBANK for its balance of affordability, reliability, and ease of use.

Benefits of Opening a Company Account with RAK Bank

RAK Bank corporate account opening comes with several practical benefits that make everyday business banking easier.

1. Startup & SME-Friendly Banking

RAKBANK is especially known for supporting startups and small to mid-sized businesses. Compared to many larger banks, their requirements are often more practical and realistic for new companies, which makes the account opening process less stressful for first-time entrepreneurs.

2. Lower Minimum Balance Compared to Big Banks

One of the biggest reasons business owners choose RAKBANK is its relatively lower minimum balance requirement compared to premium UAE banks. This helps new businesses manage their cash flow better, especially during the early months.

3. Smooth Local & International Transactions

Doesn’t matter if you’re dealing with UAE-based clients or international suppliers, RAKBANK supports both local and cross-border transactions efficiently. This makes it a good option for trading, consulting, e-commerce, and service-based businesses.

4. Strong Online & Mobile Banking

RAKBANK offers secure and user-friendly internet and mobile banking, so you can manage transfers, track payments, download statements, and approve transactions anytime without visiting a branch frequently.

5. Multi-Currency Account Options

If your business deals with different countries, RAKBANK’s multi-currency account feature allows you to receive and hold funds in multiple currencies. This helps reduce conversion charges and simplifies international payments.

6. Easy Integration with Business Operations

RAKBANK accounts work smoothly with cheque facilities, POS machines, payment gateways, and accounting systems, making day-to-day business operations more organised and professional.

Types of Corporate Accounts Offered by RAK Bank

RAKBANK offers different types of business accounts to suit the needs of startups, SMEs, and established companies.

1. Business Current Account

This is the most commonly used corporate account by businesses in the UAE. It is ideal for managing daily transactions like receiving payments, paying suppliers, issuing cheques, and handling salaries. It comes with online banking, cheque book facilities, and easy fund transfers.

2. Business Savings Account

RAKBANK also offers savings account options for businesses that want to park surplus funds safely while earning some interest. This is usually used alongside a current account for better fund management.

3. Multi-Currency Business Account

For businesses dealing with international clients or suppliers, the multi-currency account is a big advantage. It allows you to hold, send, and receive funds in multiple currencies, helping you save on repeated conversion charges.

4. SME Business Banking Accounts

RAKBANK is well known for its SME-focused banking solutions. These accounts are specially designed for startups and small to medium businesses, with practical balance requirements, digital banking support, and flexible transaction facilities.

5. Corporate Accounts for Large Enterprises

For well-established companies with higher turnover and complex banking needs, RAKBANK also offers advanced corporate banking solutions with higher transaction limits, trade finance options, and dedicated relationship management.

Struggling to open a UAE bank account? Our banking desk has a 90%+ approval rate for Indian clients

Who Can Open a RAK Bank Company Account?

RAKBANK allows a wide range of businesses to open a corporate bank account in the UAE. You may be eligible if you fall under one of the categories below:
- Mainland Companies: Businesses registered with the UAE Mainland authorities (DED) can easily apply for a RAK Bank company account. These include trading, service, industrial, and professional license holders.
- Free Zone Companies: RAKBANK also accepts companies registered in most UAE free zones. This is a popular option for startups, e-commerce businesses, consultants, and international traders.
- Offshore Companies: Some offshore companies may be eligible to open a RAK Bank account, depending on their business activity, ownership structure, and compliance checks.
- 100% Foreign-Owned Businesses: Foreign entrepreneurs who own their businesses fully in the UAE (mainland or free zone) can apply, subject to proper documentation and due diligence.
- Startups & Small Businesses: RAKBANK is especially known for being startup and SME friendly, making it a good choice for new entrepreneurs who are opening their first business bank account in the UAE.
- Established Companies: Large and well-established companies with steady turnover and proper financial records are also welcome to open corporate accounts with RAKBANK.
RAK Bank Company Account Requirements

To open a company account in RAK Bank, you’ll need to submit a set of standard business and personal documents:
- Trade Licence
- Certificate of Incorporation (for free zone or offshore companies)
- Memorandum & Articles of Association (MOA/AOA)
- Shareholder passport copies
- Emirates ID copies (if applicable)
- UAE residence visa copies (if applicable)
- Proof of address (utility bill or tenancy contract)
- Board Resolution to open the bank account
- Power of Attorney (if applicable)
- Company profile
- Details of business activity and expected transactions
- Contracts, invoices, or supporting documents (if requested)
- Office tenancy contract (if required)
- Previous bank statements (for existing businesses)
How to Open a Company Account in RAK Bank?

Opening a company account with RAK Bank is a straightforward process when you know what to expect. Here’s how the entire journey typically works:

1. Complete Your Company Setup

Before approaching the bank, make sure your UAE business formation is fully completed. This includes having your trade licence issued, your company documents ready, and any initial approvals completed. Banks will only proceed once your business is officially registered.

2. Gather the Required Documents

Collect all necessary documents such as passport copies, Emirates ID (if available), MOA/AOA, incorporation documents, and proof of address. RAKBANK may also ask for a simple company profile and details about your business activity and expected transactions. Having everything ready speeds up the process.

3. Submit the Application to RAK Bank

Once your documents are in order, submit your application either through a branch, a relationship manager, or an authorised agent. The bank will review your paperwork and may request additional details depending on your business type or activity.

Alternative Option: Digital Onboarding (Quick Apply)

The digital method is best for simple structures like Sole Establishments or single-owner Free Zone companies. Visit the RAKBANK website or download their app to start the “RAKstarter” application. You will upload scanned copies of your documents and use your Emirates ID for digital verification.

4. Attend a Verification or KYC Meeting

Most UAE banks, including RAKBANK, require a brief KYC (Know Your Customer) meeting. Shareholders or authorised signatories may need to visit the bank or join an online meeting. This is where you explain your business model, target customers, and expected monthly transactions.

5. Compliance & Due Diligence Review

After the meeting, the bank’s compliance team reviews your documents and business background. They assess factors like your industry, ownership structure, transaction patterns, and risk level. This step ensures your company meets UAE banking regulations.

6. Receive Approval from the Bank

If everything looks good, RAKBANK will approve your application. You’ll receive confirmation and your account details. In some cases, the bank may request final clarifications before giving approval.

7. Activate Your Account

After approval, you can activate your digital banking, collect your debit card, request a chequebook, and start using your account. You’ll also be assigned a relationship manager for ongoing support and banking queries.

You can also register your company for the WPS (Wage Protection System) if you have employees to pay.

Can Non-Residents Open a Company Account with RAK Bank?

This is one of the most frequently asked questions by international entrepreneurs. The short answer is: Yes, you can own the company as a non-resident, but significantly more difficult than for UAE residents.

What RAK Bank May Require:

Because non-residents don’t have a UAE Emirates ID or local address, the bank will focus more on compliance and verification. This can include:
- Additional proof of identity (passport)
- Business registration documents
- Detailed business profile and activity explanation
- Clear records of expected transactions and turnover
- KYC (Know Your Customer) interview, often conducted online
Shareholder vs. Signatory:

Non-Resident Shareholder: You can own 100% of a UAE company (Mainland or Free Zone) while living abroad. This is common and accepted.

Non-Resident Signatory: This is where the challenge lies. The Signatory (the person authorized to sign cheques and make transfers) is usually required to have a UAE Residence Visa and an Emirates ID.

If the company owner (you) wants to be the sole signatory but does not have a UAE visa, the application is often rejected or subjected to enhanced due diligence that can take months.

Important: If your goal is a smooth banking experience, the time and cost spent obtaining a UAE residency visa (approx. AED 3,000 – 5,000 depending on the zone) is almost always worth it. It reduces the bank account opening time from 2-3 months (for non-residents) to 5-10 days (for residents).

Start Your UAE Business with Shuraa

Opening a company account with RAK Bank is an essential step in getting your business up and running smoothly in the UAE. Once your account is set up, handling payments, managing expenses, and keeping your finances organised becomes so much easier.

Of course, the process can feel a little confusing at times. But the good news is, you don’t have to figure it out on your own. Shuraa India is here to guide you through everything, from setting up your company to opening your bank account without any hassle.

So whenever you’re ready, just reach out. We’ll make the whole process smooth and stress-free for you.
December 12, 2025
How to Open an Emirates NBD Account
For many Indian entrepreneurs and investors, Dubai and the wider UAE have become a natural extension of their business journey. With its tax-friendly policies, global connectivity, and thriving economy, it’s no surprise that more and more Indians are setting up companies or expanding their investments here. But to truly operate with ease in the UAE, having a reliable local bank account is a must.

Emirates NBD is often the top choice for them. It’s one of the largest and most trusted banks in the region, with services designed to meet the needs of both individuals and businesses.

Emirates NBD is especially popular among expats because of its strong reputation, easy digital banking, wide branch and ATM network, and flexible account options. It offers a wide range of accounts, whether you need a personal account to manage your salary and savings, or a business account to grow your company, you’ll find a solution that fits.v

So, here’s how to open an Emirate NBD bank account step by step.

Why Choose Emirates NBD?

When it comes to banking in the UAE, Emirates NBD is often the first choice for Indian entrepreneurs and investors. Here’s why:

1. Strong Reputation & Reliability

Emirates NBD is one of the largest and most trusted banks in the Middle East. For Indians looking to establish themselves in Dubai or the UAE, partnering with a bank that has a solid reputation gives confidence and credibility.

2. Business-Friendly Banking

Doesn’t matter if you’re setting up a startup, expanding your existing company, or managing large investments, Emirates NBD offers dedicated SME and corporate banking solutions. From current accounts to trade finance, you’ll find services tailored to your business needs.

3. Easy Remittances to India

For many Indian professionals and business owners, sending money back home is a regular need. Emirates NBD makes this seamless with fast, secure, and cost-effective remittance services to Indian banks, often with preferential exchange rates.

4. Digital Banking Convenience

With Emirates NBD’s award-winning mobile app and online banking, you can open accounts, transfer money, and manage your business finances anytime, anywhere, something every busy entrepreneur values.

5. Dedicated Relationship Managers

For priority and business banking clients, Emirates NBD provides personal relationship managers who understand the needs of entrepreneurs and investors, helping you get tailored financial advice.

6. Support for New Businesses

If you’re just starting out, Emirates NBD has specialised SME packages with low minimum balance requirements, easy online tools, and support services designed to help new businesses succeed.

Types of Emirates NBD Accounts

Emirates NBD offers a wide range of accounts to suit different needs – For individuals managing salary, a professional saving for the future, or an entrepreneur running a business. Here are the main options:

1. Personal Accounts

These accounts are designed for individuals, whether you’re living and working in the UAE or just need a reliable way to save and manage your money.
- Current Account: The account is ideal for everyday banking and salary transfers. Comes with a chequebook and debit card.
- Savings Account: The account is perfect if you want to earn interest while keeping your money accessible. Options include standard savings and special “goal-based” savings accounts.
- Salary Account: This type of account is designed for employees whose salaries are transferred directly to Emirates NBD. Often comes with added benefits like credit card offers and loan eligibility.
2. Business Accounts

For entrepreneurs, SMEs, and large corporations, Emirates NBD provides dedicated business banking solutions to help manage operations smoothly.
- SME Accounts: Tailored for small and medium-sized businesses, with features like online payroll services, business debit cards, and easy access to working capital.
- Corporate Accounts: Designed for larger companies and investors, offering trade finance, multi-currency facilities, and dedicated relationship management.
3. Islamic Banking Accounts

For customers who prefer Shariah-compliant banking, Emirates NBD offers Islamic accounts through its subsidiary, Emirates Islamic.
- Available as current, savings, and investment accounts.
- Based on Islamic finance principles (no interest, profit-sharing model).
- Provides options for both personal and business clients.
- Comes with access to the same digital and branch network as regular accounts.
4. Priority & Private Banking Accounts

For high-net-worth individuals and investors, Emirates NBD provides Priority Banking and Private Banking services, which include personalised wealth management, investment advice, and exclusive lifestyle benefits.

We help Indian businesses open Emirates NBD accounts — 90%+ approval rate, guided end-to-end

Eligibility Criteria to Open an Emirate NBD Bank Account

Before applying for an Emirates NBD account, it’s essential to know if you meet the basic eligibility requirements. These may vary slightly depending on the type of account you choose (personal, salary, savings, or business). Here’s a breakdown:

1. For Personal Accounts (Residents)
- Age: Minimum 18 years old.
- Residency: Must hold a valid UAE residence visa.
- Employment: For salary/current accounts, applicants should have a steady income (minimum salary requirement is usually AED 5,000 or more, depending on the account).
- Identification: Must have a valid Emirates ID and passport.
2. For Personal Accounts (Non-Residents)
- Age: Minimum 18 years old.
- Residency: Non-residents can open savings accounts (but usually not current/chequebook accounts).
- Requirements: Passport with a valid UAE entry stamp, proof of address in the home country, and a bank reference letter.
Note: Non-resident accounts may have higher minimum balance requirements.

3. For Salary Accounts
- Must be employed in the UAE.
- The Employer should transfer salary directly to Emirates NBD.
- Minimum monthly salary requirement (generally AED 5,000, though this can vary).
- Age: 18 years and above.
4. For Business/Corporate Accounts
- Company Setup: Must hold a valid UAE trade license.
- Legal Documents: Memorandum of Association (MOA), shareholder details, and company incorporation documents.
- Owners/Signatories: All partners, shareholders, and authorised signatories must provide valid passports, Emirates IDs, and visa copies.
- Minimum Balance: Business accounts often require maintaining a higher minimum balance compared to personal accounts.
5. For Priority/Private Banking

Priority Banking typically requires a higher income (e.g., AED 15,000+ monthly salary) or maintaining a set minimum deposit (e.g., AED 350,000 or more in savings/investments). Private Banking is tailored for high-net-worth individuals and usually requires multi-million-dirham deposits or investments.

Documents Required to Open an Emirates NBD Account

To open an Emirates NBD bank account, you’ll need to provide certain documents to verify your identity, residency, and eligibility. Here’s what you need:

For UAE Residents (Personal/Salary Accounts):
- Valid Emirates ID
- Passport copy (with residence visa page)
- Proof of address in UAE (utility bill, tenancy contract, or Ejari)
- Salary certificate or employment letter (for salary/current accounts)
For Non-Residents (Personal Accounts):
- Valid passport (with latest UAE entry stamp)
- Proof of address in home country (utility bill, driving license, etc.)
- Bank reference letter from a bank in your home country or internationally
- Additional documents if requested by the bank (depending on nationality or purpose of account)
For Business/Corporate Accounts:
- Valid UAE Trade License
- Certificate of Incorporation (if applicable)
- Memorandum of Association (MOA) or Articles of Association
- Shareholder/Partner documents (passport copies, Emirates IDs, visa pages)
- Board resolution (if required, for corporate account opening)
- Company office address proof (Ejari, lease agreement, or utility bill)
How to Open an Emirates NBD Account

Opening an account with Emirates NBD is a straightforward process, but it helps to know exactly what to expect. Here’s how you can do it:

Step 1: Choose the Right Type of Account

Decide whether you need a personal account (for everyday banking or salary), a savings account, or a business/corporate account (for company operations). For Indian entrepreneurs, a business account is best if you’re setting up a company in Dubai or investing, while a personal current/savings account works well for handling day-to-day expenses.

Step 2: Check Eligibility Requirements

Make sure you meet the eligibility criteria for the account type.
- For residents: Emirates ID, UAE residence visa, and minimum salary (usually AED 5,000+).
- For non-residents: Valid passport, UAE entry stamp, proof of address in India, and a bank reference letter.
- For businesses: Trade license, MOA, shareholder documents.
Step 3: Gather the Required Documents

Prepare all the necessary paperwork (passport, Emirates ID, visa, trade license, proof of address, etc.). Carry both originals and copies, as the bank will verify them.

Step 4: Apply Online or Visit a Branch
- Online: Emirates NBD allows you to start your application on their website or mobile app by filling in basic details and uploading documents.
- In-branch: Visit your nearest Emirates NBD branch in Dubai or across the UAE to submit your application.
Step 5: Verification and Due Diligence

Once your application is submitted, the bank will begin a thorough compliance check. This is standard procedure to comply with “Know Your Customer” (KYC) and Anti-Money Laundering (AML) regulations. During this phase, the bank will verify all the documents and information you provided.

Step 6: Account Approval and Activation

Once your application is approved, the account will be activated. This usually takes a few working days (longer for corporate accounts if extra approvals are needed).

After activation, you’ll get your Debit card (for personal accounts), Chequebook (for current/business accounts), and Online banking access (via Emirates NBD’s app and website).

Step 7: Start Banking

You can now transfer money, send remittances to India, manage your company’s payments, or invest globally using your new Emirates NBD account.

How to Open an Emirates NBD Account Online?

One of the biggest advantages of banking with Emirates NBD is that you don’t always need to visit a branch. You can start the process right from your laptop or smartphone. Here’s how:

1. Visit the Emirates NBD Website or Mobile App

Go to the official Emirates NBD website(https://www.emiratesnbd.com/en) or download the Emirates NBD Mobile Banking App. Select the option to “Open an Account”.

2. Choose Your Account Type

Decide whether you want a Current Account, Savings Account, Salary Account, or Business Account. The platform will guide you through the account options and benefits.

3. Fill in Your Personal or Business Details

Enter your name, nationality, mobile number, email, and other required details. If it’s a business account, you’ll also need to provide company information (trade license, shareholder details, etc.).

4. Upload Your Documents

Scan and upload the required documents (passport, Emirates ID, visa, salary certificate, trade license, etc., depending on your account type). Ensure documents are clear and valid to avoid delays.

5. Verification Call or Email

Once submitted, a bank representative may contact you for additional verification or to confirm details. For business accounts, they may also ask for information about your company’s activities.

6. Account Approval & Activation

After the review, your account will be approved. You’ll get login credentials for online banking, and your debit card and chequebook (if applicable) will be delivered to your registered address.

Pro Tip for Indian Entrepreneurs & Investors: Opening an Emirates NBD account online is convenient, but if you’re setting up a business account, it’s often easier to work with a banking advisor or a business setup consultant like Shuraa India to handle documentation and approvals smoothly.

We’ve guided 10,000+ Indian businesses through UAE bank account applications — get expert banking support, free consult

Take the Next Step Today!

Opening an Emirates NBD account is a smooth and straightforward process for an entrepreneur, an investor, or just someone looking for a safe and reliable bank in the UAE. From easy online banking to business-friendly services, it’s a smart choice for anyone planning to grow in Dubai.

Think about what you really need from a bank – daily transactions, savings, or business support, and pick the account that matches your goals. And if you want some extra help to get started, the team at Shuraa can guide you with the documents, requirements, and the full account opening process. This way, you can focus on your business while we make sure everything is set up the right way.
September 5, 2025

What Is the Difference Between VAT And Corporate Tax?

Taxes play a crucial role in the financial landscape of any country, and the United Arab Emirates is no exception. Two key taxes that business owners need to be aware of in the UAE are Value Added Tax (VAT) and corporate tax. While VAT applies to the goods and services people buy, corporate tax is focused on the profits businesses make.

If you’re thinking about starting or expanding your business in the UAE, it’s essential to understand how these taxes work. Knowing the difference between VAT and corporate tax in UAE can help you stay on the right side of the law and make smarter financial decisions.

So, let’s understand the main differences between VAT and corporate tax in a simple way, so you can easily navigate the tax rules in the UAE.

What is VAT in the UAE?

Value Added Tax (VAT) is a consumption tax that is added to the price of goods and services at each stage of production or distribution. Essentially, VAT is charged on the value added to a product or service as it moves through the supply chain, from the manufacturer to the retailer. Businesses collect this tax on behalf of the government and pass it along to the tax authorities.

How VAT is Applied in the UAE:

VAT in UAE was introduced on January 1, 2018, as part of the government’s efforts to diversify its revenue sources. VAT is charged on most goods and services, except for a few exempt items, such as healthcare, education, and some financial services. The tax is typically added at the point of sale, meaning consumers pay VAT when they purchase goods or services, and businesses collect the tax.

VAT Rate in the UAE:

Standard rate: The standard VAT rate in the UAE is 5%, which is relatively low compared to many other countries around the world.
Zero-Rated Supplies: Some goods and services are zero-rated, meaning no VAT is charged but businesses can still claim input tax credits. Examples include exports and international transport.
Exempt Supplies: Some supplies are exempt from VAT, meaning no VAT is charged and businesses cannot claim input tax credits. Examples include basic food items, healthcare, and education.

VAT Registration in the UAE:

Businesses in the UAE must register for VAT if their annual taxable supplies exceed a certain threshold. The registration thresholds are:

AED 375,000 for businesses making taxable supplies (i.e., selling goods or services that are subject to VAT).
Businesses with taxable supplies between AED 187,500 and AED 375,000 can opt for voluntary registration.
If a business’s turnover is below AED 187,500, VAT registration is not required, but the business can choose to register voluntarily.

Examples of Businesses Required to Register for VAT in the UAE:

Retail Businesses: Shops selling physical goods, from electronics to clothing, must register for VAT if their annual sales exceed the registration threshold.
Service Providers: Companies offering services such as consulting, marketing, and IT services must also register for VAT once their taxable supplies reach the required amount.
Construction and Real Estate Companies: Builders, developers, and real estate agents engaged in buying, selling, and leasing properties must register for VAT if their revenue exceeds the threshold.
Importers: Businesses involved in importing goods into the UAE from outside the country are also required to register for VAT, as the tax is applied to imports.

What is Corporate Tax in the UAE?

Corporate tax is a tax that businesses pay on their profits. Unlike VAT, which is a consumption tax applied to goods and services, corporate tax is charged directly on the income a business generates. It is a key form of tax levied on companies and organizations operating within a country. The UAE introduced corporate tax on business profits starting June 2023, marking a major shift in its tax system.

Corporate Tax Rates in the UAE:

The corporate tax rates in the UAE vary based on the level of taxable income:

0% Tax Rate: Businesses with annual profits up to AED 375,000 are exempt from paying corporate tax. This is designed to help small and medium-sized enterprises (SMEs) thrive without the burden of tax.
9% Tax Rate: Businesses earning profits above AED 375,000 are subject to a corporate tax rate of 9%. This is applicable to most companies in the UAE.

How Corporate Tax is Calculated:

Corporate tax is calculated based on a business’s taxable income, which is the net profit earned after deducting eligible business expenses from the total revenue. Here’s how it works:

Total Revenue: The income generated from the sale of goods, services, and any other sources of business income.
Business Expenses: These include operating costs, salaries, rent, utilities, and other legitimate expenses incurred by the business to generate income.
Taxable Income: The taxable income is what remains after deducting the business expenses from total revenue.
Corporate Tax Calculation: The corporate tax is then applied to this taxable income, based on the relevant tax rate (e.g., 9% for profits exceeding AED 375,000).

For example, a business with a taxable income of AED 500,000 will pay 9% corporate tax on the profit above AED 375,000, which means the tax on AED 125,000 would be AED 11,250.

Businesses Subject to Corporate Tax in UAE:

Profit Threshold: Corporate tax applies to businesses with annual profits exceeding AED 375,000. Businesses with profits below this threshold are exempt from corporate tax.
UAE-based and Foreign Companies: Both local and foreign companies operating in the UAE are subject to corporate tax if they meet the income threshold.
Free Zone Companies: Certain Free Zone companies may be eligible for tax exemptions, provided they meet specific criteria and engage in qualifying activities.
Oil and Gas Sector & Banking Sector: The UAE has separate tax rules for companies in these sectors, and they may be subject to higher tax rates.

Key Differences Between VAT and Corporate Tax in the UAE

While both taxes serve as sources of government revenue, they differ significantly in their application, purpose, and who bears the tax burden. Here is the key difference between VAT and Corporate Tax in the UAE:

Aspect	VAT (Value Added Tax)	Corporate Tax
Definition	A consumption tax applied to goods and services.	A tax on the net profits earned by businesses.
Nature of Tax	Indirect tax collected by businesses on behalf of the government.	Direct tax paid by businesses on their taxable income.
Applicable To	Most goods and services sold or consumed in the UAE.	Businesses with annual profits exceeding AED 375,000.
Tax Rate	5% on taxable goods and services.	0% for profits up to AED 375,000; 9% for profits above AED 375,000.
Who Pays the Tax	Consumers ultimately bear the tax; businesses collect and remit it.	Businesses pay the tax based on their profits.
Tax Filing Frequency	Monthly or quarterly VAT returns.	Annual corporate tax returns.
Calculation Basis	Based on the value added to goods or services.	Based on taxable income (revenue minus expenses).
Exemptions	Some sectors like healthcare, education, and financial services.	Free Zone companies with qualifying activities and SMEs with profits below AED 375,000.
Purpose	A revenue source from consumption to diversify government income.	Aligns with global tax standards and generates government revenue from business profits.

Simplify Your Tax and Business Journey with Shuraa India

VAT and corporate tax both play an important role in how businesses operate in the UAE. While VAT in UAE affects the cost of goods and services for customers, corporate tax directly impacts a company’s profits. Understanding these taxes is essential for businesses to stay compliant and manage their finances effectively. With proper tax planning, businesses can reduce their tax burden and focus on growing their operations.

At Shuraa India, we’re here to make things easier for you. Our team of experts, including business consultants, legal advisors, and PRO executives, can handle all your business setup and tax-related needs in the UAE. Whether you already have a business or are planning to start one, we’re ready to help. Contact us today and let us make your journey in the UAE smooth and stress-free.

January 21, 2025

Opening a bank account for a UAE Free Zone company
Opening a bank account for a Freezone Company is a crucial aspect of doing business. It allows for the smooth flow of financial transactions and enables businesses to operate efficiently. In this blog, we will learn about Freezone Company Bank Account opening in detail.

Furthermore, to successfully open a bank account, one needs to follow specific procedures. Choosing the right bank is crucial, as it needs to be authorized to operate within the Freezone jurisdiction. Furthermore, the next step is to gather all the necessary documents. This includes company registration papers, identification documents of authorized signatories, and proof of address.

Opening a bank account involves filling out forms, signing documents, and meeting with the bank representative. Moreover, the bank may also conduct a background check to verify the authenticity of the business and its owners. Furthermore, once the account is opened, businesses can begin to conduct transactions and manage their finances effectively.

What is a Business Bank Account?

A business bank account is created for businesses in the UAE-free zones. It aids in tracking business transactions and separating them from personal ones. Furthermore, this enables the investor to calculate tax liabilities and regulate cash flow more effectively. It is important to find a suitable bank that offers the necessary solutions for your company, making it a one-stop solution for all your financial needs.

By opening a free zone bank account, investors can easily track their company’s expenses, calculate tax liabilities, and regulate cash flow more efficiently. Furthermore, this will eliminate the need for additional assistance and make your bank a one-stop solution for all your business’s financial requirements.

Benefits of Having a Free Zone Company Bank Account

Businesses can reap various benefits by having a Freezone Company bank account. Furthermore, it increases the credibility and legitimacy of the business, improves cash flow management, and minimizes the risks of cash handling. A Freezone Company bank account also ensures compliance with regulatory laws.

Here are some of the essential benefits of Free zone Company Bank Account:
- Efficient management of financial transactions within the Free zone.
- Easy and convenient payment of bills and invoices.
- Ability to process transactions in multiple currencies.
- Access to a range of banking services such as loans, overdrafts, and credit facilities.
- Enhanced credibility and legitimacy of the business.
- Better cash flow management and tracking of financial records.
- Reduced risks associated with carrying large amounts of cash.
- Compliance with regulatory requirements and laws related to financial transactions.
- Improved access to financial information and reports for informed decision-making.
- Enhanced security measures to protect against fraud and other financial risks.
Why Is a Business Bank Account Important?

There are several reasons why a business bank account is crucial for your company. Firstly, it helps to separate your personal and business finances, which simplifies accounting and tax reporting. Additionally, a business bank account provides a record of all your business transactions, making it easier to track and manage your cash flow.

It also enables you to easily accept payments from clients and customers and make payments to suppliers and vendors. Furthermore, a business bank account provides access to financing options, such as loans or lines of credit, to help grow your business. Finally, a business bank account can offer additional services, such as online banking and mobile banking, that allow you to manage your finances more efficiently.

Types of Free Zone Bank Accounts in the UAE

When setting up your business in a free zone, you can opt for zero tax liabilities and select from three types of free zone bank accounts. Moreover, each type of account serves a different purpose, enabling you to choose the one that best suits your business needs.

1. Current Accounts

For daily transactions, a current account is an ideal option as it includes a visa or master card and a checkbook. This account enables you to manage payrolls in multiple currencies and receive or dispatch client payments. Additionally, it provides a convenient method for handling your day-to-day transactions.

2. Savings Account

If you are looking to earn higher interest on your funds, a savings account can be an excellent option. These accounts offer a significantly higher interest rate compared to current accounts, although there may be penalties for withdrawing funds. Furthermore, it also provides the option for fixed or variable interest rates and support for international currencies.

Requirements for Opening a Freezone Bank Account

To open a free zone bank account, there are specific requirements, including:
- All shareholders must be physically present when submitting signed documents.
- Foreign entities must have all necessary documents certified at the consulate of the emirate where the company is registered.
- The documents must also be certified by the UAE Ministry of Foreign Affairs.
- While it is possible for a foreign entity to open a bank account in the UAE, incorporating it with a local company is often easier and more cost-effective.
Documents Required for Free Zone Company Bank Account Opening

To open a Free Zone bank account, the following documents are required:
- A complete set of company formation documents, such as a trade license, MoA/local agent agreement, and civil partnership agreement.
- An office rental agreement.
- Residency visa and Emirates ID.
- Six months’ personal bank account statement.
Once you submit the signed documents, you must wait for compliance approval. After that, your preferred bank will open your free zone bank account with all the approved documents.

Conclusion: Free Zone Company Bank Account Opening Made Easy

In conclusion, opening a free zone company bank account in the UAE offers many benefits to businesses such as tracking company expenses, separating business transactions from personal ones, and improving cash flow management.

The two types of bank accounts, including the current and savings accounts, provide businesses with options to suit their financial needs. However, opening a free zone company bank account requires specific documents, including a complete set of company formation documents, residency visas, Emirates IDs, utility bills, and personal bank account statements.

All shareholders must also be present during document submission, and foreign entities must have their documents certified by the UAE Ministry of Foreign Affairs. Despite these requirements, opening a free zone company bank account can be an efficient and cost-effective solution for businesses looking to expand their operations in the UAE.
May 22, 2023
Auditing Services in Dubai
In essence, audit services in UAE improve the reliability of financial data that clients generate for use by creditors, investors, and other stakeholders. We make a lot of effort to provide our clients with useful information that will, whenever possible, assist them to enhance their operations.

We also support large, medium-sized, complicated, and growth-oriented enterprises in the UAE thanks to our deep local understanding and genuinely global mindset. Moreover, our fundamental values of professionalism, ethics, quality, and diligence serve as the cornerstone of our audit services in UAE.

Types of Auditing Firms and Audit Services in Dubai

Auditing is the name for the accounting service provided by public accounting firms or certified public accountants (CPA) in businesses. During an audit, an outsider looks at a company’s financial or business data for a number of reasons.

Businesses in Dubai utilise financial audit services to reassure their stakeholders about the accuracy of their financial data and complete compliance with the law. These are the several types of audit services in UAE:

1. Internal Audit

Within an organization, this kind of audit takes place. The company’s owner requests the audit, which is done by a different person. Businesses that have shareholders or board members use this audit to keep them informed about the company’s financial situation. To verify the financial objectives, an internal audit is ideal.

Following are the main justifications for performing the internal audit:
- Recommending upgrades.
- Regulating efficiency.
- Ensuring that the company adheres to all applicable rules and regulations.
- Reviewing and confirming financial data
- Deciding on risk management strategies and policies.
- Checking the operational procedures.
The Institute of Internal Auditors (IIA) defines an operational audit as a systematic process of evaluating the efficacy, efficiency, and economy of operations inside an organization. In essence, it aids in tightening internal controls, cutting expenses, and eliminating irregularities.

This can be carried out by an internal auditor of the firm or outsourced; it is their duty to offer a solution to the company’s problems, which will encourage management to take appropriate action.

The moment has come to evaluate the efficacy and efficiency of your operational activities. Therefore, to find solutions to streamline your procedures, you can rely on our team of professionals.

2. External Audit

A third party, such as an accountant or a tax authority, conducts this audit. Although an external auditor is independent of your company and all employees, he or she must adhere to the Generally Acknowledged Auditing Standards (GAAS).

The major objective of the external audit is to only assess the correctness of the accounting records. Investors typically need external audits so they may feel confident in the veracity of the data and information pertaining to their company.

As soon as they are through auditing the organisation, the external auditors submit the audit report. Finally, these reports provide information about the entire procedure as well as the errors.

3. Financial Audit

This is one of the most prevalent audit kinds, and the majority of these audits are external audits. The auditor examines the integrity and accuracy of the company’s financial accounts during financial audits. In this approach, only auditors examine the transactions, practices, and balances. Following the audit, the third party provides investors, creditors, and lenders with the audit conclusion regarding the company.

Annual financial statements for public limited companies file with an auditor’s report that attests to them. In fact, the Commercial Companies Law mandates that every mainland company conducts an annual audit of its financial records.

However, all government agencies, financial institutions, shareholders, the general public, and other stakeholders have access to these audited financial statements. This provides assurance that management has prepared the financial statements in accordance with the relevant financial reporting framework.

As a result, this indicates a true and fair view of the business performance. Lastly, this is necessary to bridge the ownership and control gaps in the organization.

4. Tax Audit

Businesses must get ready for the tax audit that the tax authorities will conduct. Tax audit will examine the taxpayer’s accounting and bookkeeping records as well as VAT return submissions to confirm the taxpayer’s tax liability. Tax audits examine the company’s objectives, planning strategies, operational practices, and results in terms of tax compliance.

5. IT Audit

The IT audits have a big impact on software or IT companies. These audits spots issues with software development, data processing, and computer systems. This audit guarantees that users will receive accurate information while keeping data safe from unauthorized access. We provide IT auditing services for financial statements that adhere to IT standards.

6. Risk Management

Risk advisory services assist in assessing a company’s culture, systems, and processes to pinpoint and resolve issues. Therefore, this can aid in decision-making, support organizational goals, and guard against loss, harm, or damage to the company. Risk management can only integrate into your organization’s management, procedures, and technology in order to improve business.

Additionally, from risk assessment to any extent, our highly effective team manages risk initiatives across all facets of a company. Since employees are the company’s foundation, directors alone are unable to create and maintain effective risk management procedures. As a result, we must include team members at all levels in the process of sharing accountability and responsibility for managing business risk.

7. Compliance Audit

A compliance audit is carried out to make sure that your company is adhering to the rules and legislation pertinent to your particular industry. However, it also covers all of your legal and contractual requirements and their compliance. A compliance audit report is typically required by financial institutions or governmental organizations to attest that all daily operations and activities are being legally compliant with the protocols.

This varies from business to business; for example, a compliance audit for a financial institution will be regarding personal data, disaster recovery, or information backup; a medical facility business would be audited on personal information, surgery contracts, or any other law regarding.

Conclusion

Whereas numerous layers of complexity are added as a result of the thousands of rules that are periodically produced and occasionally changed by more sophisticated ones. We oversee these changes and will keep you informed of any proactive remedies. We are registered auditors in Dubai.

For the integrity and openness of the business’s financials, Shuraa India provides the best financial audit services in the UAE. However, the evaluation of a company’s financial statements is known as a financial audit. The outcome of the financial audit is a report that has been attested by the auditor and demonstrates that the company has provided a true, accurate, and objective financial statement.
February 14, 2023
VAT Registration Services in Dubai
VAT registration services in Dubai help your business seamlessly collect tax from your customers on behalf of the UAE government. Being a foreign investor, you might want to get started with a new enterprise in Dubai. Dubai makes for an excellent investment opportunity with its lucrative market opportunities, supporting workforce, strategic location, and access to international markets.

However, depending on the type of business you want to leverage in Dubai, you will need to apply for VAT registration.

Value-added services in Dubai, or VAT, is a type of tax that is levied on goods and services. It is a standard form of indirect tax that has been successfully adopted by more than 150 countries worldwide. Introduced in the year 2018 in the UAE, the VAT collection process helps business owners collect tax from customers on behalf of the Federal Tax Authority (FTA). The FTA is the government department recognized in the UAE for implementing VAT and other tax-related procedures.

There are several details around the VAT registration services in the UAE, including the eligibility, types of VAT services, refund status, etc., that you must know as a foreign investor.

VAT Registration Services in Dubai for Businesses

If you are dealing with taxable goods and services for your business, you will have to register for VAT mandatorily. Similarly, VAT registration services in Dubai are applicable for an established enterprise both in the mainland and the free zone. All you have to do is check for the eligibility criteria and to get started with the registration process.

To comply with the UAE VAT laws, businesses must have a TRN number. A Tax Registration Number is a 15-digit number that is assigned to a business owner or vendor if they are eligible for VAT registration. It is given by the Federal Tax Authority and stays valid through the UAE for trade purposes. The TRN number serves a myriad of benefits for businesses apart from being proof of VAT compliance-
- TRN is also proof of the operating status of any company in the UAE.
- It helps in filing returns and receiving reimbursements for VAT.
- TRN number allows companies to claim their input VAT-related expenses from the UAE government.
Types of VAT Registration Services in Dubai

There are different types of VAT registration services in Dubai. Based on the revenue of your company and the taxable income, there are different kinds of VAT registration services applicable.

1. Voluntary VAT Registration Services in Dubai

The voluntary VAT services are applicable for businesses that earn a business revenue of AED 187,500- 375,000 annually in the last 12 months at least. If your business turnover falls in this category, you can get a voluntary VAT registration followed by a TRN number.

If you do not wish to get it, you will not be fined by the UAE government. Voluntary VAT registration services in Dubai also apply if you anticipate the business turnover in the next 30 days of your application will be greater than AED 187,500.

2. Mandatory VAT Registration Services in Dubai

For businesses with an annual turnover of more than AED 375,000, VAT registration is mandatory. This means you will be required to get a Tax Registration Number to let your business operate seamlessly in Dubai and the rest of the Emirates. Once you receive your TRN number, you will be able to collect VAT from your customer for the goods and services you sell.

What is the Deadline for VAT Registration in Dubai?

Businesses exceeding AED 375,000 in taxable supplies or imports must register for VAT within 30 days in UAE. Ever since the UAE government implemented the VAT registration services in Dubai, applications are invited from businesses across industries, domains, and budgets.

The Federal Tax Authority has provided an online portal for businesses to register for VAT and receive their TRN numbers hassle-free. However, you need to be prepared with all the prerequisites before moving on with the application process. You can apply for VAT registration throughout the year depending upon the acceptance of category-wise applications by FTA.

VAT Registration Services for Foreign Investors

Foreign business owners are not residents of Dubai but conduct trade operations in the UAE. If you sell goods or services in Dubai without any sponsor accounting for the VAT due, you will be required to register for VAT. Just like other businesses, you will receive a Tax Registration Number upon successful registration.

How to Apply for VAT Registration in Dubai?

Businesses need to apply for VAT as a government obligation. While the deadlines based on business turnover or type of VAT are announced from time to time by the government. You should also know the application process. This will help you understand the details required to complete your application and prepare the documents in advance. Make sure you’re thorough with the following procedure to avoid any delays or hindrances
1. Create an account on the eService Portal of FTA
2. Once you log in to your account, you will find an online VAT registration form. The details required in the form will be-
- Details if your business
- Personal details
- Contact information of your business
- Banking details
- Declaration of any business relationships
- Information about the VAT registration. (The FTA provides this)
- Declaration for VAT registration services in UAE
1. After filling in all the details, click on review and submit.
Documents required for VAT registration services in Dubai
- Passport copy of the business owner(s)
- Copy of your business trade license
- UAE-based identification details
- Company’s account details and IBAN
- Record of your business revenue in the past year
- Memorandum of Association (MOA)
- Customs Authority Registration Code
Hassle-free VAT Registration with Shuraa India

At Shuraa India, we understand the importance of completing the legalities and the documentation involved for your business. That’s why we’re here to offer you expert advice at every step of the way for your business in Dubai.

You can talk to our prolific business experts, who will seamlessly guide you through the VAT register for assistance through email, please write to us at enquire@shuraa.in.
June 29, 2021
How to Open a UAE Business Bank Account Remotely from India
Dubai is one of the best places in the world to start and grow a business. Thanks to its great location, modern infrastructure, and supportive government policies, it has become a popular choice for entrepreneurs, small business owners, and big companies alike.

If you’re planning to start a business in Dubai, opening a business bank account is a must. A corporate bank account helps you manage your company’s finances, receive and send payments, handle employee salaries, and stay compliant with UAE regulations like VAT filing. Plus, it builds trust with clients, suppliers, and potential partners.

Regardless of whether you’re going Mainland, Free Zone, or Offshore, having a business bank account is a must. Each type of company comes with its own banking needs, and choosing the right setup from the start can save you time and hassle later.

Therefore, let us walk you through everything you need to know about opening a business bank account in Dubai.

Why Do You Need a Business Bank Account in Dubai?

Opening a business bank account in Dubai is a crucial step for any company operating in the UAE. Here’s why:

1. Legal Requirement

The UAE Central Bank mandates that all business transactions be conducted through a corporate bank account. Using a personal account for business purposes is not only discouraged but can lead to legal complications. This regulation ensures transparency and proper financial reporting.

2. Simplified International Transactions

Dubai’s banking institutions are adept at handling international transactions, offering services that simplify cross-border payments. For Indian entrepreneurs dealing with clients and suppliers worldwide, this means faster processing times, competitive exchange rates, and reduced transaction costs.

3. Access to Financial Services

Business accounts often come with additional services like payroll management, business loans, and trade finance. These services can be vital for the growth and expansion of your business.

4. Financial Management

Separating personal and business finances simplifies accounting and tax reporting. A dedicated business account helps in tracking expenses, managing cash flow, and preparing for audits.

5. Multi-Currency Account Options

Many banks in Dubai offer multi-currency accounts, allowing businesses to hold and transact in various currencies such as AED, USD, and EUR. This flexibility is particularly beneficial for Indian entrepreneurs engaged in international trade, as it mitigates currency exchange risks and facilitates smoother financial operations.

Types of Business Bank Accounts in Dubai, UAE

Dubai offers a variety of business bank account types to cater to different company structures and operational needs. Here’s an overview of the main types:

1. Mainland Business Accounts

Designed for companies registered under the UAE’s Department of Economic Development (DED), these accounts facilitate local trade and operations. They offer access to a broad range of banking services, including credit facilities and trade finance.

Popular Banks offering this: Emirates NBD, Mashreq, FAB, ADCB.

2. Free Zone Business Accounts

If your company is based in a free zone like IFZA, DIFC, RAKEZ, DMCC, Ajman, or Dubai Silicon Oasis, you’ll need a free zone business account. These businesses typically operate internationally and may have some limitations on direct business within the UAE unless they appoint a local distributor.

Free Zone business bank account is best for export/import businesses, IT startups, consultants, and e-commerce firms targeting global clients.

3. Offshore Business Accounts

Offshore corporate bank account is ideal for companies that operate internationally without a physical presence in the UAE, offshore accounts offer flexibility for global transactions. However, they are subject to stricter compliance checks and regulations.

4. SME Business Accounts

Specifically designed for small and medium-sized enterprises, these accounts often feature lower minimum balance requirements, reduced fees, and simplified account management to support growing businesses.

Banks offering SME-friendly accounts: RAKBANK, Emirates Islamic, Mashreq NeoBiz.

5. Islamic Business Accounts

For businesses seeking Sharia-compliant banking solutions, Islamic business accounts operate without interest and adhere to Islamic financial principles. Banks like Dubai Islamic Bank and Emirates Islamic Bank offer such services.

Popular banks: Dubai Islamic Bank, Abu Dhabi Islamic Bank (ADIB), Emirates Islamic.

Documents Required for Business Bank Account

Opening a business bank account in Dubai involves providing a set of documents that help the bank verify your company’s legal structure, ownership, and operations. Here are the commonly requested documents:
- Valid trade license (for business owners)
- Shareholder/Partner passport copies
- Emirates ID and residency visa (if applicable)
- Memorandum of Association (MOA)
- Company incorporation documents
- Proof of business activity (invoices, contracts, etc.)
- Office tenancy/lease agreement
- Company profile and business plan (if required)
Some banks may also conduct a background check, request additional documents, or ask for a personal meeting with the account signatory.

How to Open a Business Bank Account in Dubai, UAE?

Opening a corporate bank account in Dubai is an essential step for managing your company’s finances and building credibility with clients and partners. Here is the overview of the steps to make the process smooth and hassle-free:

1. Choose the Right Bank

Begin by researching banks that align with your business needs. Consider factors such as:
- Services offered (like online banking and international transfers)
- Minimum balance requirements
- Reputation and customer service Choosing the right banking partner will support your long-term growth.
2. Obtain a Valid Trade License

Ensure your business is legally registered and possesses a valid trade license issued by the Department of Economic Development (DED) or the respective free zone authority. This license is essential for opening a corporate bank account.

3. Prepare the Required Documents

Gather the necessary documentation before the application. Having all documents in order will expedite the account opening process.

4. Submit the Application

Visit the chosen bank to submit your application along with the prepared documents. Some banks may offer online application options, but a personal visit is often required for verification purposes.

5. Undergo Compliance and Verification

The bank will conduct a thorough review of your application, including compliance checks and verification of documents. This process ensures adherence to the UAE’s banking regulations and may take a few days to a couple of weeks.

6. Account Approval and Activation

Upon successful verification, the bank will approve your application and activate your business account. You will receive account details, and can then order checkbooks, debit cards, and set up online banking services.

7. Maintain Compliance and Minimum Balance

Ensure ongoing compliance with the bank’s requirements, including maintaining the stipulated minimum balance and submitting any periodic documentation as requested. Non-compliance can lead to account restrictions or closure.

Note: If you’re an Indian entrepreneur looking to set up your business and open a bank account in Dubai, Shuraa India is here to guide you every step of the way. From company formation to choosing the right bank, our team ensures a smooth and compliant setup tailored to your goals.

Can a Non-resident Open a Bank Account in Dubai?

Yes, non-residents can open a bank account in Dubai; however, the process is slightly more complex compared to residents. While Dubai offers attractive banking options to international clients, non-residents must meet specific requirements and provide additional documentation.

Be aware that not all banks are willing to offer services to non-residents, and the process may involve longer approval times, higher minimum balance requirements, and the necessity of an in-person visit to the bank. Despite these challenges, opening a bank account in Dubai can offer great financial flexibility and access to global banking services.

Types of Bank Accounts Available to Non-Residents

Non-residents typically have access to:
1. Personal Savings Accounts: These allow deposits and withdrawals, though they may have restrictions on certain transactions.
2. Corporate or Business Accounts: Suitable for non-resident business owners with a legally registered company in the UAE. Having a UAE resident as a shareholder or director can simplify the process.
If you’re a non-resident looking to open a bank account in Dubai, we highly recommend talking to our business setup and legal experts at Shuraa India. They can help you explore your options and guide you through alternative solutions.

Open Your Dubai Business Bank Account with Shuraa India

Opening a bank account in Dubai is a smart choice that comes with many benefits for both individuals and businesses. Whether you’re looking for a tax-efficient environment, secure banking, advanced services, or multi-currency accounts, Dubai has a lot to offer. For business owners, the city’s supportive business climate, strong banking system, and easy access to capital make it an excellent place to manage and grow your business.

But opening a bank account can be tricky due to local laws and regulations. That’s where Shuraa India comes in. We’re here to help with every step of the process, from setting up your company in Dubai and getting the right licenses to opening your bank account. We’ll work with you to understand your needs and find the best bank for your business.

Let Shuraa India make the process easy for you so you can focus on building your business in Dubai. Contact us today!

Frequently Asked Questions

1. What are the steps to open a non-resident bank account in Dubai?

To open a non-resident bank account in Dubai, follow these steps:
1. Select a bank that accepts non-residents.
2. Gather required documents such as your passport, proof of address, and bank reference letter.
3. Submit your application along with the documents to the chosen bank.
4. Undergo the bank’s verification process.
5. Upon approval, your account will be activated.
Note: Some banks may require an in-person visit for verification.

2. Can I open a bank account in the UAE without an Emirates ID?

Yes, it’s possible to open a bank account in the UAE without an Emirates ID. However, you will need to provide alternative identification documents, such as your passport, visa, and proof of address. Additionally, some banks may have specific requirements or restrictions for non-residents.

3. Can an Indian open a bank account in Dubai?

Yes, Indian nationals can open a bank account in Dubai. They must provide necessary documents, including a valid passport, proof of address, and a bank reference letter. Some banks may also require an in-person visit for verification.

4. Can I transfer money from an Indian bank account to a Dubai bank account?

Yes, you can transfer money from an Indian bank account to a Dubai bank account. This can be done through wire transfers using secure networks like SWIFT. Ensure you have the recipient’s bank details, including the SWIFT code, to complete the transaction.

5. Can I open a business bank account in the UAE without being physically present?

While some banks may offer online account opening services, many require the account signatory to be physically present in Dubai for identity verification and compliance checks.
February 25, 2021

Category: Bank Account UAE

How to Open a Bank Account in Dubai from India?

Banking Landscape in Dubai, UAE

Types of Banks Available

What are the Benefits of Banking in Dubai for Indians?

1. Multi-Currency Freedom

2. Next-Gen Digital Banking

3. Better Support for International Business and Investments

4. Smooth International Transactions

5. Flexible Account Options

6. Tax Efficiency & Wealth Growth

Types of UAE Bank Accounts You Can Open as an Indian

1. Personal Bank Accounts

2. Non-Resident / Offshore Bank Accounts

3. Corporate/Business Bank Accounts

4. Specialised Bank Accounts

Eligibility Criteria to Open a Bank Account in Dubai for Indians

1. Residency Status

2. Minimum Age Requirement

3. Financial Standing

4. Physical Presence (Important)

Documents Required for Indian Citizens

B. Documents Required for a Business Bank Account

How to Open a Bank Account in Dubai from India in 2026

1. Choose the Right Bank and Account Type

2. Prepare & Attest Your Documents

3. Initial Online Application

4. Video KYC or Physical Verification

5. Compliance Review (The Waiting Period)

6. Make the Initial Deposit

7. Account Activation

Best Banks in Dubai for Indians

Can You Open a Bank Account Remotely from India?

Key Compliance for Banking in Dubai

The Zero-Tolerance AML Policy:

Source of Funds vs. Source of Wealth:

FATCA and CRS Reporting:

Ultimate Beneficial Ownership (UBO):

Planning to Bank in Dubai? Start the Right Way

Faq

Q1. Can I open a business account without a UAE company?

Q2. Can an Indian company open a bank account in Dubai?

How to Open a Company Account in RAK Bank?

About RAK Bank (RAKBANK)

Benefits of Opening a Company Account with RAK Bank

1. Startup & SME-Friendly Banking

2. Lower Minimum Balance Compared to Big Banks

3. Smooth Local & International Transactions

4. Strong Online & Mobile Banking

5. Multi-Currency Account Options

6. Easy Integration with Business Operations

Types of Corporate Accounts Offered by RAK Bank

1. Business Current Account

2. Business Savings Account

3. Multi-Currency Business Account

4. SME Business Banking Accounts

5. Corporate Accounts for Large Enterprises

Who Can Open a RAK Bank Company Account?

RAK Bank Company Account Requirements

How to Open a Company Account in RAK Bank?

1. Complete Your Company Setup

2. Gather the Required Documents

3. Submit the Application to RAK Bank

4. Attend a Verification or KYC Meeting

5. Compliance & Due Diligence Review

6. Receive Approval from the Bank

7. Activate Your Account

Can Non-Residents Open a Company Account with RAK Bank?

Shareholder vs. Signatory:

Start Your UAE Business with Shuraa

How to Open an Emirates NBD Account

Why Choose Emirates NBD?

1. Strong Reputation & Reliability

2. Business-Friendly Banking

3. Easy Remittances to India

4. Digital Banking Convenience

5. Dedicated Relationship Managers

6. Support for New Businesses

Types of Emirates NBD Accounts

1. Personal Accounts