Corporate Resolutions | Company Formation in the UAE
By Abdelhamid Mohamed | 13/08/2026
A board resolution to open a bank account for a company in the UAE is an official document issued based on the consensus of the board members, granting specific individuals the authority to manage the company’s accounts officially. This document includes essential details such as the bank’s name, the type of account requested, its purpose, and the names of the authorized signatories.
Opening a corporate bank account in the UAE is not just a legal formality, but a fundamental pillar of any business entity’s success. It confirms the company’s credibility, facilitates money management, separates personal and business transactions, supports tax and legal compliance, and opens the door to financing and banking facilities that support expansion locally and internationally. In this article, we explain how to issue the resolution, the core and additional documents banks require in 2026, the main reasons applications get rejected and how to avoid them, as well as the differences between entity types and the ongoing compliance requirements after opening the account.
Components and Steps of a Board Resolution to Open a Bank Account
Board members make sure the resolution text includes the following elements:
- Bank name: Identifying the bank where the account will be opened.
- Trade entity or company name: Clearly stating the name of the party requesting the account.
- Company location: The official address of the company’s premises.
- Type of account: Current, investment, donations, or other types.
- Purpose of opening the account: Clarifying the objective, such as funding a project or managing a specific activity.
- Names of authorized signatories: Explicitly designating the persons authorized to sign cheques and transactions.
- Signature specimens: Attaching signature samples of the authorized individuals.
- Resolution date: The date on which the board issued the resolution.
Steps to Issue the Resolution
- Board meeting: Holding a meeting to discuss opening the bank account.
- Voting and approval: Voting on opening the account and ratifying the resolution.
- Drafting the resolution: Formally preparing the resolution document with all the above details.
- Signing the resolution: Having the chairperson and board members sign the resolution text.
- Submitting the request to the bank: Attaching the board resolution together with the forms required by the bank when submitting the account opening request.
Why Is Notarising the Resolution Before a Notary Recommended?
Most banks in the UAE require that the board resolution be formally notarised by a notary before they accept it, to ensure it is legally enforceable and subject to applicable law. You can review the legal provisions governing notarisation via the Ministry of Justice’s electronic legislation database at
elaws.moj.gov.ae.
In practice, banks often ask for a notarised, Arabic–English bilingual copy of the resolution, bearing the company’s stamp and original signatures, and many will reject non‐notarised or single‐language versions.
Documents Required to Open a Corporate Bank Account in Dubai
Banks in the UAE require a core set of documents, most notably:
- Copies of Emirates ID for residents, or passports, or residence visas for all partners and directors.
- A clear copy of the trade licence issued by the Department of Economic Development or the relevant free zone authority.
- The company’s memorandum and articles of association, setting out the corporate structure, management powers and share distribution.
- A valid lease agreement proving the company’s official address within the UAE.
- An introductory letter about the company’s activity, briefly explaining its business, services and objectives.
- Bank statements, personal or corporate, especially for newly established companies.
- Financial or banking references from previous institutions, particularly for new companies.
- The board resolution document authorising the request to open the account.
Additional Documents Banks Commonly Request in 2026
In addition to the core documents, banks have become more stringent about compliance requirements and often ask for:
- Ultimate Beneficial Owner (UBO) declaration: Clarifying the ownership chain down to natural persons, usually covering anyone holding 25% or more.
- Proof of source of funds: Personal or corporate bank statements for the last 3–6 months, sale or investment contracts, payroll records, or audited financial statements for existing businesses.
- Short business plan (1–3 pages): Outlining the activity, target markets, key customers and suppliers, and expected cash flows.
- Company structure chart: Where there are holding companies, a simple diagram linking the company to the upstream entities and ultimately the natural person owners.
- Bank‐specific KYC form: Along with an in‐person or digital identification process, since most banks require their own forms to be completed and may insist on the personal presence of signatories or identification via
UAE Pass
depending on the product.
How to Open a Corporate Bank Account in the UAE
- Choose the right bank: Compare banks in terms of fees, ease of procedures, minimum balance, and availability of digital services.
- Prepare the required documents: Gather all the documents mentioned above, taking into account any additional paperwork the bank may request.
- Book an appointment with the bank: Some banks require an appointment in advance via phone or their online platform.
- Apply online or at the branch: Visit the branch in person or complete the application through the bank’s website if the service is available.
- Approval and account opening: The bank informs the business owner of approval after reviewing the application, then activates the account within a short period.
- Receiving account details and services: Obtain the account details and activate online banking services to manage financial operations.
Practical Tips to Improve Approval Chances and Avoid Rejection
In 2026, banks reject corporate account applications more for compliance and risk reasons than for formalities. Key rejection reasons include incomplete or inconsistent documentation, lack of real local presence (office or staff), unclear source of funds, engaging in high‐risk activities without clear licensing, dealing with sanctioned parties or jurisdictions, and failing to logically explain expected transaction flows.
To reduce these risks:
- Standardise data across passport, licence, memorandum of association and IDs (names, dates, addresses).
- Clearly set out the full final ownership chain (UBO) down to natural persons and attach documents for intermediate entities where applicable.
- Provide well‐supported proof of funds through 6‐month statements accompanied by a signed summary explaining how the funds were accumulated.
- Show real economic substance in the UAE via an actual lease, local customers or suppliers, and a business website or phone number.
- Align the licensed activity with the business plan and with the nature of expected transfers in terms of currencies, countries and transaction volumes.
Document Validity and Common “Freshness” Rules
Many banks apply informal rules about how “fresh” submitted documents must be, and failing to meet these can result in the application being returned or delayed:
Key Differences: Mainland vs Free Zone vs Offshore Companies
The document package required varies slightly depending on the company’s legal type, so it’s wise to review the bank’s checklist before applying:
Timeline, Fees and Minimum Balance
Timeline: In practice, processing often takes from two weeks to several weeks at traditional banks, and may be faster at digital or newly licensed banks.
Fees and minimum balance: These vary widely between banks and across service packages, so it is advisable to ask about account opening fees, minimum balance, transfer charges and monthly maintenance fees before applying.
After Opening the Account: Ongoing Compliance to Avoid Freezing or Closure
The process doesn’t end once the account is opened. Banks carry out periodic KYC reviews and may at any time request:
- Updates to UBO information when ownership changes.
- Proof that the trade licence remains valid and that business activity is ongoing.
- Explanations for unusual transfers or changes in account usage patterns.
Keeping the company’s file continuously updated significantly reduces the risk of account freezes or urgent information requests from the bank.
Official Reference Bodies for Notarisation and Legal Procedures in the UAE
Depending on the bank’s location and the place of incorporation, the authority responsible for attesting the board resolution or completing related procedures may differ. The main official bodies you can refer to for enquiries or completing procedures include:
- The official portal of the UAE Government for general business‐related government services:
u.ae - Ministry of Justice, which oversees notaries and notarisation at the federal level:
moj.gov.ae - Dubai Courts, providing notarisation services for companies operating in Dubai:
dc.gov.ae - Abu Dhabi Judicial Department for companies registered in Abu Dhabi:
adjd.gov.ae - Ras Al Khaimah Courts for companies registered in Ras Al Khaimah:
courts.rak.ae - Ministry of Foreign Affairs and International Cooperation for attesting documents intended for use abroad:
mofa.gov.ae - Public Prosecution for enquiries related to relevant legal procedures:
pp.gov.ae - Ministry of Justice’s electronic legislation database for legal texts governing notarisation:
elaws.moj.gov.ae - UAE Pass unified digital identity platform, used in many government and banking e‐services:
uaepass.ae
Frequently Asked Questions
Can a non‐resident open a corporate account in the UAE?
Yes, some banks allow non‐residents to open corporate accounts, but under specific conditions such as having a local partner or a free zone licence supported by the required documents.
Is notarising the board resolution to open a bank account before a notary mandatory?
Yes, the resolution should be formally notarised by a public or private notary in Dubai to ensure its legal enforceability and status as an official document that can be submitted to the bank.
How long does it take to open a corporate account in the UAE?
There is no standard duration. Typically the process takes 3–10 working days after submitting all required documents, but it can extend to several weeks depending on the bank and the nature of the company’s activity.
Is it possible to open a corporate bank account remotely in the UAE?
Some digital banks allow the account to be opened almost entirely online for UAE residents, sometimes using UAE Pass. Traditional banks, however, usually require the business owner to attend in person to complete final signatures.
We Assist You at Every Step
At the private notary office in Dubai, we work with you from notarising partners’ resolutions to choosing the best bank and completing all procedures to open the account with minimal effort and in the shortest possible time. Contact us today for a free consultation, available 24/7 throughout the week.
Abdul Hamid is a legal consultant with extensive experience in providing legal advice in the United Arab Emirates. His expertise focuses on legal drafting, resolving commercial disputes, and drafting and reviewing corporate and employment contracts.