Opening a Corporate Bank Account in Dubai: Information and Comparison of Major Banks 

Overview of Major Savings and Current Account Options in Dubai

Bank Name 

Account Type 

Number
of Branches
 

Number
of ATMs
 

First Abu Dhabi Bank
(FAB)
 

FAB
Savings Account
 

74 

100+ 

Emirates NBD 

Emirates NBD
Savings Account
 

33 

1,081 

Abu Dhabi Commercial
Bank
(ADCB) 

ADCB
Savings Account
 

72 

450 

Emirates Islamic Bank 

Kunooz
Savings Account
 

50 

39 

Dubai Islamic Bank (DIB) 

DIB
Savings Account
 

90 

520 

Abu Dhabi Islamic Bank
(ADIB)
 

ADIB
SmartBanking Account
 

89 

577 

RAK Bank 

RAK Bank
Current Account
 

26 

131 

National Bank of Fujairah
(NBF)
 

NBF
Savings Account
 

48 

48 

Mashreq Bank 

Mashreq Bank
Savings Account
 

31 

31 

Standard Chartered Bank
(SC)
 

XtraSaver Account 

5 

42 

Situation-Based Banking Recommendations

Most Representative Bank in Dubai: Emirates NBD 

Top Digital Bank in Dubai: WIO Bank 

Commercial Account Opening: First Abu Dhabi Bank (FAB) 

SME Account Opening: Abu Dhabi Commercial Bank (ADCB) 

Savings Account Opening: Abu Dhabi Commercial Bank (ADCB) 

Cost of Opening a Corporate Bank Account in Dubai

When opening a corporate account in Dubai, there is no initial fee; however, each bank requires a minimum balance to be maintained. This table offers a detailed comparison of corporate account options and the minimum maintenance balances required by major banks in the UAE. 

Bank Name 

Corporate Account Name 

Minimum Maintenance
Balance
 

Emirates NBD 

Emirates NBD Business Banking 

AED 50,000 

Abu Dhabi
Commercial Bank
 

ADCB Premium Current Account 

AED 100,000 

Commercial Bank of Dubai 

My Business Account 

AED 20,000 

First Abu Dhabi Bank 

Business Advantage Account 

AED 10,000 

Abu Dhabi Islamic Bank 

Business Elite Account 

AED 500,000 

Key Features of Major Banks in Dubai

Emirates NBD

Emirates NBD, based in Dubai, offers corporate accounts with a low maintenance requirement, making it ideal for small and medium-sized businesses. The minimum balance is AED 50,000, and for those unable to maintain it, a monthly fee of AED 250 is applied. Corporate accounts come with no fees for domestic and international remittances, and a debit card is provided at no extra cost for individual business accounts. This account supports multiple currencies, including AED, USD, EUR, and GBP, which is advantageous for businesses engaged in international trade. However, the account may lack advanced features for larger corporations. 

Abu Dhabi Commercial Bank (ADCB)

Abu Dhabi Commercial Bank, headquartered in Abu Dhabi, provides six types of corporate accounts, each tailored to various business needs. While the high minimum balance of AED 100,000 might be challenging for some small businesses, ADCB compensates with a no-fee remittance policy and an array of account features, such as free window trading and internet banking. ADCB accounts are multi-currency (USD, EUR, AED, and GBP), and the bank has operated since 1985, offering both conventional and Sharia-compliant financial solutions. However, the high maintenance balance may make it less accessible to newly established corporations. 

Commercial Bank of Dubai (CBD)

Located in Dubai, the Commercial Bank of Dubai offers a corporate account that requires a minimum balance of AED 20,000, making it accessible for new and smaller businesses. There is no account fee, with a nominal AED 150 fee only applied if the balance falls below the minimum. CBD supports transactions in multiple currencies, including AED, USD, EUR, GBP, JPY, and CNY, though each account is limited to one currency, reducing flexibility. CBD also offers initial checkbooks and prepaid cards through the Dubai Chamber of Commerce. However, its corporate account lacks some of the functionalities found in other banks. 

First Abu Dhabi Bank (FAB)

First Abu Dhabi Bank provides a corporate account with a low minimum balance requirement of AED 10,000, suitable for businesses of various sizes, especially newer companies. Account holders benefit from no remittance fees for both domestic and international transactions, as well as access to a range of additional services like foreign exchange solutions, asset management, and insurance. While the bank assigns a dedicated manager for each account and offers free checks, it only allows transactions in AED, which may limit options for companies with extensive international dealings. 

Abu Dhabi Islamic Bank (ADIB)

Abu Dhabi Islamic Bank offers corporate accounts tailored to professional businesses, requiring a substantial minimum balance of AED 500,000. In return, ADIB provides extensive benefits, including a platinum debit card and access to ATM and POS services. The bank supports over 15 currencies for transactions and assigns a dedicated administrator to each corporate account to ensure businesses’ needs are met. While ADIB’s high maintenance balance may be a barrier for smaller companies, it is well-suited to established corporations seeking specialized banking solutions in line with Sharia principles. 

Major Benefits of Offshore Banks

Offshore banks offer several significant benefits due to their unique regulatory environment. These institutions are often subject to less stringent regulations compared to traditional banks, which enhances their financial management flexibility. Additionally, offshore banks provide access to a diverse range of investment opportunities, including foreign currencies, stocks, and other assets, which can help mitigate investment risks. 

Another key advantage of offshore banking is the high level of privacy and security they offer. Many offshore banks maintain strict confidentiality policies and do not disclose personal information to third parties without the account holder’s consent. This ensures that clients’ financial information remains secure and private. 

Premia TNC's Industry-Leading Corporate Management Services

Premia TNC offers a full spectrum of corporate management services, including the establishment and operation of companies in Dubaiaccounting settlementaudittax services, and visa assistance. Our expert team is dedicated to ensuring seamless corporate operations and compliance with all regulatory requirements. For any related assistance or inquiries, please do not hesitate to contact us. We are here to support your business needs with professionalism and efficiency. 

FAQs

What are the advantages of opening a Dubai corporate account?

A Dubai corporate account offers numerous benefits, including the ability to keep personal and business finances separate, streamlined tracking of operational expenses, and a more professional image for investors and shareholders. Additionally, it simplifies the process of collecting payments from customers and may ease access to corporate financing, such as business loans.

What is the minimum balance required for a Dubai corporate account?

The minimum balance requirement varies by bank, though it is generally advisable to maintain at least AED 50,000 to avoid potential fees related to insufficient balance.

Can I open a corporate account without funding?

No, an initial deposit is required to open a corporate account, though the amount depends on the bank's specific policies.

Can the bank reject my application to open a corporate account?

Yes, banks may decline applications for various reasons, including if the business is not registered in the UAE, lacks a valid business license, has poor credit history, or if the business or associated partners are considered high-risk or are based in high-risk countries.

Should Dubai corporate accounts be opened only by banks in the UAE?

No, you may open a Dubai corporate account with foreign banks, provided they support such accounts and meet the necessary regulatory requirements.

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