How many days do I need to spend in the UAE to register a company and to open a bank account?

November 07, 2018

The duration required to register a company and open a bank account in the UAE can vary depending on several factors, including the type of company (mainland or free zone), the specific requirements of the licensing authority and bank, and the efficiency of the service providers involved. Here’s a general overview:

1. Company Registration:
   • Mainland Company: Registering a mainland company typically involves several steps, including obtaining initial approvals, drafting legal documents, and completing the registration process with the relevant authorities such as the Department of Economic Development (DED). This process can take anywhere from a few days to several weeks, depending on factors such as the complexity of the company structure, the completeness of documentation, and the efficiency of the authorities.
   • Free Zone Company: Registering a company in a free zone often involves a streamlined process compared to mainland registration. Free zones offer various packages and services designed to expedite company setup, including pre-approved business activities, ready-to-use office space, and online application portals. Depending on the chosen free zone and package, company registration can be completed in as little as a few days.
2. Bank Account Opening:
   • Mainland Company: Opening a corporate bank account for a mainland company typically requires submitting the company’s incorporation documents, shareholder information, and other relevant paperwork to the chosen bank. The timeframe for opening a bank account can vary depending on the bank’s internal procedures, due diligence requirements, and the completeness of the documentation provided. In general, it may take anywhere from a few days to a couple of weeks to open a corporate bank account for a mainland company.
   • Free Zone Company: Opening a bank account for a free zone company follows a similar process to mainland companies, but may benefit from streamlined procedures offered by some banks in collaboration with free zone authorities. The timeframe for opening a bank account for a free zone company can vary depending on the bank’s requirements and the completeness of the documentation provided. It typically ranges from a few days to a couple of weeks.

Overall, while it’s possible to complete company registration and bank account opening relatively quickly in the UAE, factors such as the specific requirements of the authorities and banks, the completeness of documentation, and any additional services or packages chosen can impact the overall timeframe. Working with experienced business consultants or PRO services can help streamline the process and ensure compliance with all regulatory requirements.