Corporate Banking

At Taxonomy Global Business Advisory, we understand that setting up a corporate bank account is a crucial step in establishing your business in the UAE. Whether you’re launching a startup or expanding internationally, navigating the banking landscape can feel overwhelming — but it doesn’t have to be.

Our team provides personalized, end-to-end support to help you open your corporate bank account smoothly and efficiently. We work closely with both local and international banks, free zones, and regulatory bodies, giving you the insight and connections that make a real difference.

What Makes UAE Banking Different?

Business banking in the UAE is regulated carefully. Banks want to understand your business model, expected transaction volumes, source of funds, and overall risk profile. Having the right setup and presentation from the start helps tremendously.

With our support, you’ll:

Know which banks are most open to new business accounts in your sector

Be guided on required documentation, based on your free zone or license type

Prepare strong KYC documentation and avoid compliance gaps

Get updates at each stage of the application process

Strategic Free Zone Partnerships That Give You an Edge

Our strong Partnerships with key free zones ; including Sharjah Publishing City (SPC), Ajman Free Zone, Meydan Free Zone, and IFZA allow us to offer you a faster, more informed experience.

These partnerships mean:

Up-to-date knowledge of what each free zone requires for banking approvals

Faster turnaround times through coordinated processes

Real-time updates on banking trends for companies registered in each zone

Improved alignment between licensing and banking expectations

This inside access can be the difference between a delayed application and a smooth approval.

Required Documents for Corporate Banking

Some of the common documents required for companies with individual shareholders include:

✓ KYC documents
✓ 3 to 6 months Bank Statements
✓ Expected monthly and yearly turnover
✓ Company trade license
✓ Certificate of registration and share certificates
✓ Lease agreement
✓ Certificate of Good Standing
✓ Disclosure of the source of funds
✓ Business profile
✓ Business plan
✓ Memorandum and Articles of Association (Notarised and attested)
✓ Board Resolution appointing Manager and/or Director (Notarised and attested)
✓ Passport copies of all shareholders, directors, and general manager
✓ Copies of Emirates IDs of directors, shareholders, and general managers (for UAE residents)
✓ Supporting documents about your clients, suppliers, and transactions
Corporate Banking FAQs
It can take anywhere from 1 to 6 weeks, depending on:
  • The bank’s processing time
  • Your business activity type
  • Completeness of your documents
With the right setup and support, we often speed this up.
Typically, you’ll need:
  • A valid trade license
  • Company incorporation documents
  • Source of Funds declaration
  • Passport copies of shareholders and directors
  • Emirates ID (if applicable)
  • Proof of address for all stakeholders
  • Business plan or contracts (in some cases)
We support clients by reviewing and organizing all documentation before submission to reduce delays.
In most cases, yes—UAE banks usually require at least one authorized signatory to be physically present for the onboarding meeting or to sign documents. However, we can assist with:
  • Pre-approval
  • Document preparation
  • Scheduling
to make your visit as smooth and brief as possible.
Yes, most banks will request a KYC (Know Your Customer) interview—either in-person or via video. We brief you beforehand so you’re prepared and confident.
This varies between banks, but most UAE banks require:
  • AED 25,000 to AED 100,000 minimum monthly balance
  • Falling below may incur monthly fees
We help you select banks that match your financial profile to avoid unnecessary charges.
Yes, free zone companies can open accounts in local or international banks operating in the UAE. We work with banks familiar with different free zones and can guide you on specific requirements.
Common rejection reasons include:
  • Incomplete or inconsistent documentation
  • High-risk or unclear business activities
  • Lack of physical presence or local address
  • Mismatch between license and proposed transactions
Yes. Many UAE banks offer multi-currency corporate accounts (USD, EUR, GBP, etc.), especially useful for international transactions. We’ll help you choose the right bank if this is a priority.
It can. Banks assess:
  • Source of funds
  • Company ownership structure
  • Tax residency
For companies with foreign shareholders or complex structures, we ensure proper explanation to the bank and advise on cross-border tax planning.
You can:
  • Reapply with a stronger file
  • Approach a different bank
We help you understand rejection reasons and reposition your application correctly.

Banks We Work With

We provide seamless corporate bank account opening support in the UAE, enabled by our strong ties with key government and banking entities

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