Every business requires a system for managing its funds. The business account is used for tracking the money to be paid to the creditors, the cash balance, the funds owed to the business, and the payroll to be paid to the employees. The business account is different from the personal or private bank account because it is intended specifically for business activities. This bank account helps the owner of the business to keep the transactions of the business separate from their personal finances. This account generally accompanies special conditions for their business.

• Ensure that all the pre-requisites are in place before applying for an account
• Apply for account opening online or at a branch or a kiosk
• Customer is provided account number instantly (only in the case of online applications/digital kiosk applications)
• Sales officer connects with customer to review application and update information as required
• Sales officer collects signatures/verifies original documents from customer and submits the updated application with signature for bank processing
• Customer can check the status of their application online (only in the case of online applications/digital kiosk applications)
• Customer may be contacted to upload additional documents/information, if and when required
• Customer is informed of the decision by the bank

Following steps and documentation should be completed and available prior to application:

Company pre-requisites

• Trade License
• Memorandum of Association / Articles of Association / Share Certificate / Partners Agreement
• Bank Statements
• Address Proof
• Proof of Purchase / Invoice

Stakeholders

• Passport / Visa of all signatories
• Emirates ID of all signatories
• Bank Statements
• Address Proof
• CV / Brief Introduction