Emirates NBD

FACTS & INFO

• Requirements

  REQUIREMENTS FOR ACCOUNT SETUP:

  • The client’s personal attendance will be required in one of the branches.
  • The initial deposit and the minimum balance requirements start from US$1m.
  • The corporate account can only be opened for local companies. If you need our assistance with a company formation in the UAE, our experienced staff will be glad to help you.
  • The account will be activated within 2-3 business days (upon receipt by the bank of all duly completed forms and relevant information)

  DOCUMENTS REQUIRED:

  For the Company:

  Company Under Formation (Free Zone)

  • Memorandum and articles of association.
  • Letter from Free Zone Authority addressed to NBD to open the account of the company.
  • Letter/documents giving ownership details.
  • Passport copies and residence visa of the authorised signatory as well as all shareholders.
  • Bank reference letter for the signing authority.

  Free Zone Establishment (FZE)

  • Trade cicense copy.
  • Share certificate copy.
  • Letter/documents giving owner details.

  Free Zone Company (FZCO)

  • Trade license copy.
  • Memorandum and articles of association.
  • Share certificate(s) if any.
  • Passport copies and residence visa of the authorised signatory as well as all shareholders.
  • Board resolution (if any).
  • Bank reference letter for the signing authority.

  For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:

  • Notarized copy of a valid passport. The passport must be signed and the signature must match the signature in the application form. The photograph must be clear and of good quality.
  • Original or notarized copy of a utility bill / bank statement dated within 3 months as verification of residential address.
  • Original or notarized copy of a bank reference letter, dated within 3 months.
  • Power of attorney (where applicable).
  • Personal CV.
  • Copy of valid visit visa.
  • If you have entered the UAE using an e-gate card, ensure it is valid and a copy is obtained for bank records.

  IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

  If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, Starting Business will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

  Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

  Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.

• About the Bank

  Emirates NBD is one of the largest financial institutions (by asset size) in the Middle East, and the flagship bank for the Dubai government. Emirates NBD has the largest branch network in the UAE, with representative offices and branches in Egypt, Jersey, China, India, Iran, Saudi Arabia, Qatar, Singapore, and the UK.

  Emirates NBD provides fully fledged financial services across retail banking, private banking, wholesale banking, global markets and trading, investment banking, brokerage, asset management, merchant acquiring and cards processing.

  Moody’s long term credit rating is Baa1; Fitch: A+; Capital Intelligence: A.

• Facilities

  WHAT EMIRATES NBD BANK OFFERS:

  • Accounts in all major currencies.
  • Savings accounts.
  • Current accounts.
  • Fixed deposit accounts.
  • Full range of banking services.
  • Wide range of debit/credit Visa and MasterCard products.
  • Private banking.
  • Tax and wealth management.
  • Cash management.
  • Trade finance.
  • Treasury.
  • Online banking.
  • Business banking package with low minimum monthly average relationship balance (MMAB) of AED50,000.
  • Business banking plus package with with low MMAB of AED200,000.
  • Business banking select package with with low MMAB of AED500,000.
  • Customer support in Arabic, French and English.
  • Approximate timeframe for account allocation from 2 to 3 business days upon receipt of the original documents by the bank and personal face-to-face meeting.

  BANK TARIFFS AND CHARGES

  The Bank's tariffs and charges depend on the package chosen. Generally, however, Emirates NBD bank can be considered a medium-cost bank with respect to account maintenance and bank transfer fees. The account maintenance is free of charge; however, the minimum monthly average relationship balances have to be maintained to enjoy the respective package privileges, failing which the bank has the right to downgrade the relationship. A fee for non-maintenance of balance will be charged if the monthly average relationship balance falls below the required amount. The minimum monthly average relationship balance is AED50,000, and the fee for non-maintenance of balance can range from AED200 to AED500 per month.

  Inward remittances are free of charge and foreign currency remittances are ranged from AED60 to AED85.

  PLEASE NOTE: Bank tariffs may be changed anytime at the sole discretion of the bank. Therefore, we suggest that you contact us or visit the bank’s website for updated details on specific fees and charges.

  The Starting Business professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit, or minimum balance.