Applying for a bank account in the UAE: Why business activity matters on your trade license

The UAE is also home to a diverse set of industries – trade, tourism, healthcare, and manufacturing. All these make UAE an attractive launchpad for those looking to start their own business. 

The UAE has a mix of local and foreign banks that serve the financial needs of businesses. Banks in the UAE are famous for providing a high level of privacy, which provides another level of protection for corporate customers. 

Businesses can apply for a corporate account with international banks. For small enterprises or startups, it may be ideal to apply for an account with a local bank as they offer more flexibility. 

Opening a bank account to conduct any kind of business is relatively straightforward. However, you need to be privy to the different measures and regulations when it comes to corporate banking activities. 

Here are a few things to note when starting a corporate bank account:

Specifying your business activity on your trade licence

Businesses can only conduct any type of activities after registering and getting a licence. This is one of the first steps when starting a business in UAE. The licence serves as validation for the bank to recognise your business. Without a licence, banks may not recognise your business and approve your account. 

You can choose from different types of licences, but what matters is that your business activity matches the licence you’re applying for. This is especially important if you are applying for a bank account. 

For example, if you are planning to sell products online, you may need an e-trader licence. This reflects that your business activity will be conducted through social media. A commercial licence may be more appropriate for business activities that require importing products abroad and selling them online. 

In case your business activity does not reflect what is on your trade licence, this may cause issues with your bank. This is why you need to make sure your business activity matches what is indicated on your licence. Specifying this clearly may help increase the chances of getting approval from a bank.

Different types of business licences

Choosing the right business activity is not only important in applying for a bank account, but also for obtaining the right licence. 

  • Commercial – If you are selling products, whether online or retail, you may need a commercial licence. 
  • Industrial – This often includes businesses that specialise in manufacturing goods. 
  • Professional – If you are running a marketing, events, or similar types of consultancy services, a professional licence may be more appropriate. 

The more accurate you are with your business activity, the less trouble you will face when opening a bank account. The right business activity and licence will make it easier for the banks to understand the nature of your business, so be sure you have proper documentation. 

Getting assistance for opening your bank account

The regulations and documentation involved in opening a corporate bank account can be confusing for those who are just starting out their business. You do not have to handle everything on your own, though. 

Our team at ExpressPRO can help in opening your corporate bank account to make sure all the details and the right documents are submitted. This takes away the extra burden in setting up your business, so you can focus on more important aspects. 

One of the biggest advantages of getting assistance from our team is we can connect you with trusted banks. We can help you choose which one is most suited to your business and can best serve your needs when it comes to financing and managing your account. 

We will handle the paperwork and communicate with the banks on your behalf. We will basically act as your representatives so you can dedicate more time and effort into setting up your business. 

Ready to open a bank account for your business in the UAE?

If you are planning to set up a corporate bank account for your business, we are here to help. Contact our team and learn how to get started. Fill out the form below so our team can assist you with your business setup and bank account opening.

Set up Your UAE Company with ExpressPRO

Please fill out the form below so our team can get in touch with you and guide you through the complete process.

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Sarwat Nasir
Sarwat Nasir
10:22 12 Jul 24
Jean helped us get our trade license sorted out. She is super friendly and professional and makes the process so easy. Everything was completed so fast. Highly recommend!
mohamed ramzy
mohamed ramzy
21:38 11 Jul 24
Express Pro provided outstanding service. Their professionalism, efficiency, and commitment to quality were evident throughout. The team was responsive, delivered on time, and exceeded our... expectations. Highly recommend!---read more
Nikhil Shah
Nikhil Shah
12:34 09 Jul 24
Thank you Irshaad for helping and opening company in soonest possible time 😊
Yousef Batter
Yousef Batter
15:13 08 Jul 24
Highly recommended. Ask for Paul
Maria Gamez
Maria Gamez
08:28 08 Jul 24
Ellie was an amazing support at setting up my business license. She answered all my questions and advised me on what the correct license was based on my needs and ideas. Thank you for all the help.
Saad Aalyani
Saad Aalyani
11:27 05 Jul 24
Excellent Business Registration service. Professional staff who guided me throughout with the procedure. Highly Recomended to everyone who wishes to register a business in the UAE.
SALLY BROON
SALLY BROON
06:32 27 Jun 24
ExpressPRO are very professional and efficient. Especially Sajid who is always available to answer any questions and help in any way. I would highly recommend them.
Matthew Norris
Matthew Norris
04:33 15 Jun 24
Paul and Hassan were excellent in guiding us through the process. I’d recommend these guys to anyone.We had a small issue with the freezone to begin with but once we arrived in Dubai, everything... was taken care of and completed very quickly. Paul and Hassan were always available to answer our questions and willing to help with anything we needed.Thank you both 🙌read more
Emma Ticehurst
Emma Ticehurst
03:12 15 Jun 24
Paul & Hassan did a great job of supporting us through a complex process. It was a relief to know we had them helping us at every step of the way.We did loose some time at the start of the process... as incorrect forms were completed, however this was the only slight bump in the road. Once we arrived in Dubai, the whole process, including our phone number and bank account was finalised within 2.5 weeks. The Express Pro team also sat with us whilst we set up the bank, to ensure the correct forms were submitted.Big thanks to Paul & Hassan, they were readily available at all times and no ask was too much for them. 😊😊read more
Sus Master69
Sus Master69
19:02 11 Jun 24
**Review for Express Pro Company - Trading License Setup**I recently used the services of Express Pro Company to assist me in setting up my trading license, and I couldn't be more satisfied. Hassan... Ali, the dedicated representative assigned to my case, displayed exceptional professionalism and expertise throughout the entire process.From the initial consultation to the final approval, Hassan was proactive in guiding me through every step with clarity and precision. His attention to detail and prompt responses to my inquiries ensured a smooth and efficient experience.Express Pro Company's knowledgeable team, coupled with Hassan's personalized assistance, made the daunting task of obtaining a trading license a seamless and stress-free endeavor. I highly recommend their services to anyone seeking reliable and efficient support in business setup.Thank you, Hassan Ali, and Express Pro Company, for your outstanding assistance in facilitating my trading license setup.read more
Sarah Morris
Sarah Morris
10:36 10 Jun 24
Fast and helpful service, Paul was very helpful at setting up a company in RAK for me.
Lessie Sabanal
Lessie Sabanal
07:08 07 Jun 24
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