💳 Banking & Finance

1. Can I Open a UAE Business Bank Account for a Free Zone Company?

Yes, Free Zone companies can open local business bank accounts for UAE financial operations.

2. How Long Does It Take to Open a Free Zone Bank Account?

Typically 5–15 working days after obtaining a Dubai Free Zone license.

3. Which Banks Accept Free Zone Companies?

Major UAE banks like Emirates NBD and Mashreq support Free Zone business accounts.

4. Are There Minimum Balance Requirements for Free Zone Accounts?

Yes, typically AED 10,000–50,000, depending on the bank for UAE business banking.

5. Can I Open Multiple Bank Accounts for a Free Zone Company?

Yes, multiple business accounts are allowed for flexible UAE financial management.

6. Is Online Banking Available for Free Zone Companies?

Yes, UAE banks offer full digital banking services for Free Zone businesses.

7. Can Foreign Owners Open Bank Accounts Remotely?

Some banks allow remote account opening via video verification for UAE Free Zone companies.

8. Do I Need a UAE Visa to Open a Business Bank Account?

Usually, at least one shareholder needs a UAE visa for bank account setup.

9. Do Free Zone Companies Need Accounting Records?

Yes, basic bookkeeping is mandatory for UAE Free Zone compliance.

10. Is VAT Registration Required for Free Zone Companies?

Yes, if annual revenue exceeds AED 375,000, for UAE VAT compliance.