Board Resolution for Opening a Bank Account in the UAE

Opening a corporate bank account in the UAE is not just a legal formality—it is a fundamental step in establishing and growing a successful business. One of the key requirements to initiate this process is a Board Resolution for Opening a Bank Account.

This official document, issued and signed by the company’s Board of Directors, authorizes specific individuals to manage the company’s account and carry out transactions. It includes essential details such as the chosen bank, type of account, signatories, and the purpose of the account.

In this article, we explain the importance of a board resolution, how it is drafted, the documents banks usually require, and whether notarization is mandatory in Dubai.

What is a Board Resolution for Opening a Bank Account?

A board resolution is an official record of a decision made by the company’s board of directors. When opening a corporate bank account in the UAE, the resolution specifies:

• The name of the bank where the account will be opened

• The company’s legal name and registered office address

• The type of account (current, savings, investment, etc.)

• The reason for opening the account (e.g., funding a project, managing company operations)

• The names and specimen signatures of the authorized signatories

• The date of the resolution and board approval

This resolution confirms that the decision has been formally approved and empowers the nominated individuals to operate the account.

Steps to Issue a Board Resolution for a Bank Account

1. Board Meeting – The directors convene to discuss and approve opening a bank account.

2. Voting and Approval – A majority vote is required to pass the resolution.

3. Drafting the Resolution – The resolution is written in an official format including all relevant details.

4. Signing – The resolution is signed by the chairman and board members.

5. Submission to the Bank – The resolution, along with supporting documents, is presented to the bank when applying for the account.

Bank Requirements for Opening a Corporate Account in the UAE

When submitting a board resolution, companies must also prepare several supporting documents. While requirements vary from one bank to another, the following are commonly requested:

• Passports, Emirates IDs, and residence visas of shareholders and directors

• Valid trade license issued by the Department of Economic Development or free zone authority

• Memorandum and Articles of Association of the company

• Tenancy contract or lease agreement showing the company’s registered address

• A company profile or business plan outlining the nature of activities

• Previous bank statements (personal or corporate) for reference

• Bank reference letters (especially for newly incorporated businesses)

• The notarized board resolution authorizing the bank account

Does the Board Resolution Need to Be Notarized?

Yes. In Dubai, banks usually require the board resolution to be notarized by a public or private notary. This ensures that the document is legally valid, enforceable, and recognized as an official company decision.

You can read more about the process here:
👉 Board Resolution Notarization in Dubai

How Long Does It Take to Open a Corporate Bank Account in the UAE?

On average, opening a company bank account takes between 3 to 10 business days after submitting all required documents and the notarized resolution. However, in some cases, especially for certain industries or offshore structures, the process may take longer.

Can Non-Residents Open a Corporate Bank Account in the UAE?

Yes, some banks allow non-residents to open company accounts under specific conditions. Typically, this requires a local partner, a free zone license, or additional financial references.

FAQs

1. What is a board resolution for opening a bank account?
   It is an official document passed by a company’s board authorizing account opening and designating signatories.
2. Who can sign the board resolution?
   Usually, the chairman and all directors present at the meeting must sign the resolution.
3. What documents are required by banks in the UAE?
   Banks typically require trade licenses, IDs, tenancy contracts, MOA, financial references, and the notarized board resolution.
4. Does the board resolution need notarization in Dubai?
   Yes. Notarization ensures legal validity and is often mandatory for bank compliance.
5. How long does it take to open a bank account once the resolution is ready?
   It normally takes around 3–10 business days, but some cases may require more time.

Conclusion

A Board Resolution for Opening a Bank Account in the UAE is a mandatory step for any company looking to establish corporate banking. Without it, the bank will not authorize account operations.

At our Private Notary Office in Dubai, we assist companies in drafting and notarizing board resolutions, preparing bank-compliant documentation, and guiding you through the account-opening process quickly and securely.

👉 Get your board resolution drafted and notarized for opening a company bank account today
👉 Contact us now for fast and secure service.