BankRas Al Khaimah
RAKBANK business account opening in the UAE
RAKBANK has one of the longest-running small-business banking operations in the UAE, and it is the bank most often willing to look at a newly formed company.
Bank account opening
Fixed price, one-off
1Your company
Bank account opening5,000.001,362
VAT250.0068
What we do for it
- 01Eligibility and profile assessment
- 02Documentation preparation
- 03KYC and compliance structuring
- 04Bank selection advisory
- 05Follow-up and coordination with the bank
- Wio
- Mashreq
- FAB
- ADCB
- Emirates Islamic
- Emirates NBD
- UBL
- RAKBANK
What actually decides the application
Every UAE bank applies the same anti-money-laundering framework, so the licence is never the deciding factor. What decides it is whether the bank can see a real business behind the licence. In practice that means four things.
- A resident shareholder. An application where no owner holds a UAE residence visa is materially harder at every bank, not only this one.
- Activity that matches reality. A general trading licence held by a consultancy is the single most common reason a file stalls. The activity on the licence should describe what the money will actually be for.
- Evidence of the trade. Signed contracts, invoices, a supplier agreement, a website that existed before the application. Not a business plan.
- A story that holds together. Where the funds come from, who the counterparties are, and why a UAE company is the right vehicle. Compliance is reading for coherence.
What the process looks like
- 01
Document pack
Trade licence, MOA or incorporation certificate, share certificate, passports and visas for every shareholder, and proof of address for each of them.
- 02
Business profile
What the company does, expected turnover, main countries traded with, and the customers or suppliers already lined up.
- 03
Bank meeting
Usually in person for a first corporate account. We arrange it with a named officer rather than a branch queue.
- 04
Compliance review
The stage that takes the time, and where a thin file goes quiet. Additional questions here are normal and are not a rejection.
- 05
Account opened
Account number and online banking issued, followed by cheque book and cards.
Timelines depend more on the file than on the bank: typically two to eight weeks, and longer where the structure calls for enhanced due diligence. A prepared application with a resident shareholder and a clear activity sits at the shorter end.
Opening a UAE corporate account is the part that trips most people up
We know exactly what each bank's compliance team will ask, because we've done it a thousand times. Approval always rests with the bank, but a clean, well-briefed file is what makes it straightforward.
Terms, fees and eligibility
RAKBANK sets its own minimum balance, monthly charges and eligibility criteria, and changes them, so we do not repeat last year's figures here. We tell you the current terms on a call and confirm them with the bank before you commit to anything.
Where OMC comes in
We are not a bank and we cannot approve an account. What we do is the part that decides most applications: getting the file right before it is submitted, submitting it to a named account-opening officer rather than a general queue, and telling you when another bank suits your company better.
The National Bank of Ras Al Khaimah P.S.C. Reviewed 22 July 2026. Account terms and eligibility are set by the bank and change. Confirm them with us or with the bank before you rely on them.
Other UAE banks
FABAbu Dhabi
FAB is the UAE's largest bank by assets, formed from the 2017 merger of National Bank of Abu Dhabi and First Gulf Bank.
Read the guide
- Wio
- Mashreq
- FAB
- ADCB
- Emirates Islamic
- Emirates NBD
- UBL
Ready to open your UAE corporate account?
Bank account opening is a fixed price, ordered on its own or with your company setup. Or ask us first which bank suits you.
Bank Account OpeningI had a great experience with OMC. The entire process was smooth, professional, and well-organized. Kashif was extremely helpful with the company registration process and guided me through every step with patience and clarity. Zubair provided excellent support with tax accounting, making everything easy to understand and ensuring all requirements were handled correctly. Roxy was also very efficient in assisting with the bank account opening process, making it quick and hassle-free. I truly appreciate the team's professionalism, responsiveness, and dedication. I highly recommend Oxford Management Consultancy to anyone looking to start a business in the UAE.
Bank account opening · Fixed price, one-off
Bank account opening5,000.001,362
VAT250.0068