MCP

Corporate accounts for a new free zone company

What each bank asks before it opens the account.

Products, minimum balance, documents, how much of the process is remote, and the pain points founders report. A bank that publishes nothing keeps a gap on its page.

ADCB business banking
7-15 working days for clean files with UAE-resident shareholders; 4-8 weeks for non-resident or offshore-owned files
All free zones accepted; no specific refusals noted. Examples: DMCC, JAFZA, DAFZA, Meydan, RAKEZ.
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Emirates NBD business banking
a few days
Free zone companies are accepted provided they have a physical office or flexi-desk (not a virtual office). Dubai South has a formal MOU with Emirates NBD for streamlined account opening. ua…
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First Abu Dhabi Bank business banking
10-15 working days (agent estimate) to 3-5 weeks (agent estimate)
Accepts free zone companies (mainland, free zone, offshore). ADGM registered entities get preferential services.
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Mashreq NEO Biz
2-5 working days
All reputable free zones accepted, including DMCC, IFZA, Meydan, RAKEZ, ADGM, DIFC; cheap or blacklisted free zones may be rejected.
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RAKBANK business banking
2-3 business days (official); RAKEZ promo claims 60 minutes for eligible businesses; agent reports 1-3 weeks
RAKEZ and RAKIC free zones specifically mentioned as having strong relationship; other free zones likely accepted but not explicitly listed
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Ruya bank
2-3 business days (as quick as 48 hours for low-risk applicants). ruyabank.ae emirae.pro
Accepted: all free zones, including Ajman Free Zone and Dubai South, with streamlined partnerships. raqma.ai afz.gov.ae dubaisouthbh.com
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Wio Bank (Wio Business)
1-5 business days (typically 3 working days) (desk.wio.io, wio.io)
Accepts companies from major free zones including DMCC, DIFC, RAKEZ, IFZA, Meydan FZ, SPCFZ, UAQ FTZ, Ajman NuVentures, and others. Appetite may vary; flexi-desk licences may face more scrut…
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Zand Bank business
5-15 business days total (approval may be within 72 hours after document submission) (source: alsamainvest.com, velmontcrest.ae, zand.ae)
Routinely accepts many free zones including IFZA, DMCC, RAKEZ, SHAMS, Meydan, Sharjah Publishing City, Sharjah Media City, ADGM, DIFC; subject to eligibility criteria (source: velmontcrest.a…
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