At this step, the bank shall be provided with a set of documents in electronic format and supporting information on the company’s business, its economic indicators, proposed counterparties and cash flows.
Corporate documents (standard list)*:
If there are other legal entities in the structure, the same list of documents is requested for them.
* The list of documents is not exhaustive. The bank is not our related organization and has the right to request any other documents and information. Depending on the company’s jurisdiction, the list of documents may differ from the above list. Please contact specialists of GSL Law&Consulting for further information.
Business profile of the company:
Documents for individuals in the company’s structure:
Based on the provided information and scan copies of documents, we prepare and send an application for pre-approval of the bank where an account is to be opened.
If the company is incorporated in the UAE, notarization of the constitutional documents is not required. It is sufficient to provide documents certified by the free economic zone (FEZ) where the company is incorporated or the constitutional documents with a current QR code. The signatory must also get their signature certified by a Public Notary.
To open an account for a company that is not incorporated in the UAE, it is necessary to notarize, translate into English and apostille all constitutional documents in the country of the company’s incorporation. It should be noted that at the time of submitting the documents the date of the apostille must not be older than 3 months. The signatory must also personally get their signature certified by a Public Notary in the UAE.
Bank forms are also required to be signed at this step (they shall be signed by the company’s director).
Having received all the documents and the bank account opening fee, the bank will activate the account. A debit card for a EUR account will be ready 3 weeks after the account activation.
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Service
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Fee
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Step 1 – services in:
== collection and analysis of corporate and other documents required to be provided to the bank; == preparation of a detailed application for pre-approval, including complete information about the company, its business, owners and counterparties; == sending this application to the bank for approval; == working through additional issues; == preparation of a roadmap and detailed description of all further steps of the account opening procedure. |
USD 1 000
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Step 2 – services that include:
== consultations on preparation of a set of apostilled documents[2]; == preparation of bank forms and consultations on signing; == sending the set of documents to the bank; == interaction with the bank at all stages of the account opening procedure. |
USD 2 000
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Step 3 – payment of the rest of the full cost when handing over the complete set of documents to the bank
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USD 800
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Success fee
An additional success fee is charged if the account is opened faster than the average standard time required for the procedure, which is 2 months. |
+10% of the service fee
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Certification of a signature card by a Public Notary in the UAE[3]:
= in person / = by video call |
USD 750 / USD 2 300
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Assistance in opening accounts for companies not served by us
You can also contact our consultants to discuss the possibility of appointing us the company’s registered agent and reducing the service fee accordingly. |
+ 20% of the standard service fee
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Assistance in opening an account in a complex case:
1. In terms of business: - licensed activity (investment fund, cryptocurrency, fintech, production of tobacco products / alcohol / pharmaceutical products, precious metals, etc.); - trade complicated by the type of goods (raw materials / dual-use goods / medical goods); - payment agent business; - state-owned counterparties; - high-risk regions from the FATF list. 2. In terms of the structure: |
+ USD 450 of the basic service fee
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Subsequent assistance with the account:
- assistance with installation and configuration of online banking; - assistance with establishment of interaction with representatives of the bank on current matters (relationship manager, where applicable); - organization of the payment policy. |
First 3 months – USD 650.
Then – agreed monthly payment depending on required scope of work, complexity of the case, etc. |
[1] The service fees are effective as of February 2025.
[2] Please contact specialists of GSL Law&Consulting to order apostilled documents issued by state authorities.
[3] This service is subject to 5% VAT.