How to Open a Corporate Bank Account for Meydan Free Zone Company

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What Is the Process to Open a Corporate Bank Account for Meydan Free Zone Company?

If you’re launching a business in Dubai, you must open a corporate bank account for Meydan Free Zone to ensure smooth financial operations. A UAE bank account enables you to manage transactions, receive global payments, and build trust with local and international partners.

In this guide, we explain the exact steps, requirements, and best bank options for opening a business bank account in Dubai under your Meydan Free Zone company license.

Why You Need a Corporate Bank Account in UAE

  • Receive AED and foreign currency payments
  • Pay suppliers, employees, and expenses
  • Build your company’s credit history
  • Meet compliance and tax regulations
  • Apply for POS machines or credit lines

Want expert help? Our Banking & Financial Advisory team will guide you step by step.

When Can You Apply?

Once your Meydan company registration is complete and you’ve received the following:

  • Trade License
  • Memorandum of Association (MOA)
  • Establishment card (immigration file)

You’re eligible to open a UAE corporate bank account.

Documents Required: Open a Corporate Bank Account for Meydan Free Zone

While banks may differ slightly, most require:

  • Meydan Free Zone trade license
  • Shareholder passport copies
  • Emirates ID (if applicable)
  • Office lease agreement (Flexi or physical office)
  • Business plan/summary of activity
  • Utility bill or address proof (for non-residents)

Some banks may ask for 6 months of personal bank statements.

Best UAE Banks for Meydan Companies

BankKey Features
Emirates NBDLarge network, strong online banking
RAKBANKFast account setup for free zone entities
Mashreq Neo BizDigital onboarding, ideal for startups
WIO BankFully digital, designed for small businesses
ADCBTrusted bank with tailored SME packages

Our team matches you with the best bank based on your activity and visa status.

Steps to Open a Business Bank Account

  1. Finalize your company registration with Meydan Free Zone
  2. Gather the required documents (see above)
  3. Please choose your preferred bank or get matched via our advisor
  4. Schedule an appointment (or apply online for digital banks)
  5. Undergo compliance & KYC screening
  6. Get IBAN & account access (usually within 7–10 days)

Need expert assistance?

Contact us now to get help with setting up your Meydan Free Zone bank account, or explore all setup services to complete your Dubai business launch smoothly.

FAQs: How to Open a Corporate Bank Account for Meydan Free Zone Company

Can I open a business bank account without a UAE residence visa?

Some digital banks (like WIO) allow it, but most traditional banks require at least one UAE visa holder in the company.

What's the minimum deposit required?

Ranges from AED 0 to AED 50,000 depending on the bank and account type.

How long does it take to open a bank account?

On average, 7–10 working days after document submission.

Are there monthly charges?

Yes, some banks charge AED 100–250 if the minimum balance isn't maintained. Choose zero-balance accounts if available.

Which banks are best for startups?

WIO, Mashreq Neo Biz, and RAKBANK are known for easy onboarding and SME support.

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