The bank needs to understand your business
An application is more than a licence and a passport. UAE Central Bank guidance covers identifying customers and beneficial owners and verifying information against reliable sources. CBUAE: customer and beneficial owner identification.
Our practical recommendation is to prepare a coherent business description. Explain how you find customers, what they pay for and why the company needs a UAE account.
Organise four information groups
- Company: licence, registration documents and ownership structure.
- People: owners and the individuals who will manage the account.
- Business: contracts, invoices, website, client proposals or other available evidence.
- Payments: expected amounts, currencies, counterparty countries and source of funds.
This is a working preparation list, not a universal requirement for every bank. A newly incorporated company and an established business may need different evidence.
Check consistency
Compare the business description on your website, licence and application. If the company sells software development, explain how that relates to expected receipts. If there have been no transactions yet, say so and describe the plan. Do not create fictitious contracts to support an application.
Handle follow-up questions
Choose one person to coordinate answers and keep versions of the documents submitted. Respond to the actual question and flag changes in the information. Consistent communication helps manage the review, but does not determine the bank’s decision.
No intermediary can guarantee approval. MIHIA helps prepare banking applications and coordinate the review. An operating company may also benefit from organised bookkeeping.
The bank determines the final document list and account conditions. Source checked on 14 September 2026.