Business Setup in the UAE with AC Business Experts DMCC

Bank Account

A bank account is a mandatory requirement for doing business and investing in the UAE. However, opening or closing an account involves compliance requirements, document checks, and strict banking procedures. Any mistake or delay at this stage can cost time, money, and reputation.

ACBE helps clients navigate every step correctly and with minimal risk.

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Bank Account

Why a Bank Account is Essential

To conduct business and handle daily transactions.

Without a bank account, it is nearly impossible for a company to operate: clients cannot make payments, and suppliers cannot receive them. A corporate account is essential for issuing invoices, receiving funds, and paying rent, salaries, and taxes.

To receive salaries and manage savings.

For individuals, having a bank account in the UAE is a requirement for employment and obtaining a residence visa. It allows employees to receive salaries, cover expenses, and access modern banking services, including mobile transfers and payment cards.

To invest.

A bank account provides access to investment products, foreign exchange transactions, and international transfers. For entrepreneurs, it enables business expansion abroad, while for private clients, it allows asset diversification.

To close a company and liquidate operations.

If a business ceases activity, the corporate account must be formally closed. This is a mandatory step in the liquidation process and confirms that no debts or obligations remain to banks or regulators.

Types of Accounts

ACBE helps select the right option based on the client’s objectives, status, and banking requirements.

Personal Accounts

Salary accounts. Used for receiving wages and covering daily expenses. These accounts are often opened for employees at the request of the employer. They provide a convenient way to receive income, pay for services, and use bank cards.
Savings accounts. Suitable for those who want not only to store funds but also to grow them. Interest may be accrued on balances, and transfers between own and external accounts are available.
Investment accounts. Designed for individuals seeking to manage capital and invest in international markets. These accounts provide access to stocks, bonds, funds, and other instruments.

Corporate Accounts

For new and existing companies. Essential for starting a business in the UAE. A corporate account allows a company to receive payments from clients, settle with partners, and conduct official operations. If the current bank’s terms become unfavorable or its requirements too strict, a new account can be opened.
Overseas corporate accounts. Suitable for companies operating in multiple countries or entering international markets. These accounts help diversify risks, access global financial instruments, and work with foreign clients and investors.

ACBE supports the process for both residents and non-residents. We select the bank, prepare the documentation, and handle negotiations with relationship managers to ensure the client gains access to the required services in the shortest possible time.

Key Considerations When Opening and Closing Accounts

Opening an account.

Personal presence is almost always required. For non-residents, the choice of banks is limited, and documentation undergoes thorough review. Compliance checks may take weeks and can result in rejection.
Closing an account.

You cannot simply stop using it. The balance must be cleared, a closure request submitted, potential fees paid, and official confirmation obtained. For corporate accounts, this is a mandatory step in the company liquidation process. Mistakes can lead to fines and complications when opening a new account in the future.

We analyze the client’s profile and the requirements of the banks.
We select the right bank, whether local or international.
We review and prepare documentation in line with compliance standards.
We provide full support in account opening — from application submission to account activation.
We assist with proper account closure: clearing the balance, completing the procedure, and obtaining official confirmation.
We minimize the risk of rejection and accelerate the process through our experience and established partnerships.
Opening and closing bank accounts in the UAE is not just a formality — it is an integral part of a company’s and an entrepreneur’s financial reputation. With ACBE, you receive a complete solution: from bank selection to official confirmation that all procedures have been properly completed.
We handle communication with banks and oversee documentation, while you focus on growing your business.

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