How to open a bank account in Incognito Bank 2 (UAE)
GSL reference about the bank What is it?
Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.
GSL rating
Beginning of cooperation
December, 2024
Last contact
January, 2025
Last update
January, 2025
established on 2004, and is an actively developing public joint-stock company;
opens current accounts for UAE companies;
onboards companies from any UAE emirate and/or free zone;
balance requirements: AED 25000 for corporate accounts (if the required balance is not maintained, a monthly fee of AED 125 will be deducted from the client’s account);
accepts companies with citizens of any country in the structure (no restrictions);
accepts companies with any type of activity (no restrictions);
a visit to the branch by the signatory is required for verification purposes and signing of forms;
the signatory must hold an Emirates ID;
available currencies: AED, USD, EUR, GBP;
does not issue bank cards or checkbooks;
specializes in investment products, asset management, financing, and payments, including those to CIS countries (Belarus, Kyrgyzstan, Uzbekistan, Kazakhstan, Azerbaijan, etc.);
Internet banking (mobile app) is available in English and Arabic;
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
Compare banks
Minimum requirements
—
Minimum balance, €
—
Transactions permitted per month
6 540
Initial deposit of funds, €
1
Deadline for the initial deposit, month
Transactions permitted per month
No restrictions on the number of transfers for current accounts
Deadline for the initial deposit, month
The minimum account balance requirement is AED 25 000 for corporate accounts. Initial payment is equal to the minimum account balance
Minimum turnover, €/year
No restrictions on minimum turnovers
How fast payments are executed
Same day or next day
Your request has been sent!
An error has occurred, please try again.
Tariffs and services
N/A
Outcoming transfer, €
N/A
Incoming transfer, €
N/A
Account maintenance, €/year
N/A
Payment limit for credit cards, €/day
Account maintenance, €/year
Account maintenance fee is deducted when the minimum account balance is reduced - 125 AED per month
Distant access to the account
Internet banking in English and Arabic
Financial products
The principal lines of business are investment, consumer and commercial finance
Credit/debit cards
Does not issue bank cards or checkbooks
Account opening procedure
Days to open for incoming transfers
Case by case
Days to open for outcoming transfers
Case by case
References
Not necessary
Purpose of the account
Current
Visit to the bank
A visit to the branch by the signatory is required for verification purposes and signing of forms
Required
For a legal entity: License; Memorandum and Articles of Association; Director’s resolution for opening an account and appointing a signatory to the account; Completed business plan of the company; Office or flexi desk lease agreement; Certificate showing the number of shares of each shareholder of the company; Statement of the company’s bank account for the last 6 months (in the case of a new company, a statement of the owner’s personal account showing the source of income can be provided instead); Copies of existing contracts with counterparties (if any).
For an individual (directors / shareholders / beneficial owners / attorneys): Proof of ID (passport), a copy of the UAE visa and Emirates ID for the signatory to the account and all shareholders of the company; CV for the signatory to the account and all shareholders of the company; Statement of a personal bank account of the signatory for the last 6 months (the bank accepts account statements without translation into English).
The list is not exhaustive. The bank may request any further documents and information.
The United Arab Emirates is one of the most popular jurisdictions for incorporation of companies conducting IT business, engaged in software development and selli...
The procedure of redomiciliation of a company consists in a change of the country of incorporation while retaining all existing business relations. The national l...
Add a comment