A Cyprus company can open a bank account in Dubai. We provide complete support and guidance in this regard including the attestation requirements. For more information, please write to bc@intuitconsultancy.com

2.  Assist the Cyprus offshore company clients in opening a bank account in Emirates NBD
and Barclays.
 Assist the clients with the attestation of the documents in Ministry of foreign Affairs
(MOFA) in U.A.E.
 As an alternative and an easier option, We assist the clients in opening a RAK Offshore
company and a bank account for the company.

3. For opening an account in :
1. Emirates NBD
 We can assist you in opening an account in Emirates NBD, Dubai for a fee of USD 1,750.
The bank account opening is subject to due diligence and KYC.
 For the same, the company documents are required to be notarized in the Registry in
Home Country and attested by U.A.E embassy in the home country and further attested
by Ministry of foreign Affairs (MOFA) in U.A.E.
 We can assist you with the attestation of the documents in MOFA and our fee for the
same is USD 1,500.
 Please note that the Ultimate beneficiary owner needs to visit U.A.E in order to open
the account as the bankers need to verify the passport and the application forms need to
be signed. However, if the authorized signatory is a different person then a
POA/Resolution will have to be given by the UBO to the authorized signatory which will
have to be attested as well.

4. 2. Barclays
 We can assist you in opening an account in Barclays for a fee of USD 1,750. The bank
account opening is subject to due diligence and KYC.
 For the same, the company documents are required to be notarized in the Registry in
Home Country and attested by U.A.E embassy in the home country and further attested
by Ministry of foreign Affairs (MOFA) in U.A.E.
 We can assist you with the attestation of the documents in MOFA and our fee for the
same is USD 1,500.
 For account opening in Barclays, visit of the Ultimate beneficiary owner is not
required. The UBO will have to visit Barclays branch in their home country for
signing of application forms & verification of passport.

5. Due diligence documents required for opening a bank account in Dubai for a Foreign
company:
1. Certificate of Incorporation
2. Memorandum of Association/Articles of Association
3. List of directors & shareholders or Original Incumbency Certificate (with details of total
share capital, value per share & names of the Directors & shareholders) or document
showing present directors & shareholders (share certificates & Consent of Directors).
4. Latest Original Certificate of Good Standing (if company is more than 1 year old)

6. 5. Original Shareholders Resolution– signed by all the shareholders of the company (We will
prepare & send it to you for signatures) (please note that it can be prepared only once
we receive the passport copy of the shareholders of the respective corporate applicants)
The above documents must be apostilled & attested as true copy from the company
registry where the company is incorporated & further attested in the UAE Embassy
in the country of Origin & Ministry of Foreign Affairs (MOFA), Dubai.
(In case Corporate Director/Corporate shareholder is again owned by another corporate
entity then we need the above & below documents of that corporate entity also. We need
the same for all the corporate owners till the final individual owners)
6. Passport Copy with signature page of all the Shareholders of the company
7. Brief company profile

7. Please note that it is mandatory for the authorized signatory to visit UAE to sign the
bank forms.
Documentation requirements of the authorized signatory
1. Original Passport for review
2. Latest 3 months bank statements from the personal account
3. CV

8.  It takes approximately 2 – 3 weeks for opening a bank account in Emirates NBD or
Barclays. However, this is just the approximate timeline and it is subject to approval by
the compliance department of the bank.
 The bank account opening is subject to due diligence and KYC.

9. We suggest the Cyprus Company clients to open a RAK Offshore Company.
Why RAK Offshore Company?
1. It is a much quicker and cost effective option for setting up a bank account in UAE.
2. The bank will not require any attestations of the company documents.
3. You will have more options in opening a bank account in local banks such as Emirates NBD,
Mashreq, Abu Dhabi Commercial bank.
 Please note that one visit of the authorized signatory to UAE is required to complete the
bank formalities.
 The total cost to open a RAK Offshore Company & bank account in UAE is USD 3,250.
 For RAK Offshore company formation
― Once the signed application forms and original due diligence documents are sent to us ,the
Company will be formed in less than 1 week.