BUSINESS ACCOUNT IN UAE

Features:

• Minimum Balance Requirement: Maintain an average monthly balance of AED 10,000.
• No Monthly Fee: No fee if balance requirement is met.
• Fee for Falling Below Balance: AED 100 if the monthly balance requirement is not maintained.
• E-Statements: Receive electronic statements for account management.
• 24×7 Debit Card Facility: For authorized signatories, providing easy access to funds.
• Online Banking: Access and manage your account online anytime.
• Dedicated Relationship Manager: Personalized support and advice.
• Foreign Exchange Services: Buy and sell services for major GCC and international currencies, including:
  • UAE Dirham
  • Saudi Riyal
  • Kuwaiti Dinar
  • US Dollar
  • Euro
  • British Pound Sterling
  • Japanese Yen

Documents Required:

1. Filled Application Form
2. Attested Constitution Documents:
   • Trade License
   • Power of Attorney (POA)
   • Memorandum of Association (MOA)
3. Passport Copies: Of all partners and signatories, including sponsor

Note: Ensure all documents are properly attested and complete to facilitate smooth processing.

Features & Benefits:

• Dedicated Relationship Manager: Access to personalized service and expert advice.
• Exclusive Pricing: Special rates on the bank’s products and services.
• Free Counter Transactions: Up to 75 free counter transactions every month.
• Balance Requirements: Maintain an average monthly credit balance of AED 50,000, or have total business facilities between AED 500,000 and AED 2,000,000 with an average monthly utilization of 50% or higher.

Service Charge:

• AED 200 per Month: Applies if the above conditions are not met.

Documents Required:

1. Company Profile and Legal Documents:
   • Passport copies of all owners
   • Commercial Registration
   • Business and/or Trade License
   • Articles of Association or Partnership Documents
   • Chamber of Commerce Certificate
2. Financial Statements:
   • Audited/In-house financial statements for the past 3 years
   • Bank statements for the past 12 months
3. Additional Documentation:
   • Facilities request letter
   • Any other documents as required by the bank

Features & Benefits:

• Dedicated Relationship Managers: Receive personalized service and expert advice.
• Exclusive Pricing: Special rates on the bank’s products and services.
• Free Unlimited Counter Transactions: No charges for in-branch transactions.
• Special Foreign Exchange Rates: Competitive rates for currency exchange.
• Monthly Credit Balance Requirement: Maintain an average monthly balance of AED 250,000 or have total business facilities of AED 2,000,000 with an average monthly utilization of 50% or higher to avoid service charges.

Service Charge:

• AED 300 per Month: Applies if the above conditions are not met.

Documents Required:

1. Company Profile and Legal Documents:
   • Passport copies of all owners
   • Commercial Registration
   • Business and/or Trade License
   • Articles of Association or Partnership Documents
   • Chamber of Commerce Certificate
2. Financial Statements:
   • Audited/In-house financial statements for the past 3 years
   • Bank statements for the past 12 months
3. Additional Documentation:
   • Facilities request letter
   • Any other documents as required by the bank

Note: Originals of all documents will be required for verification.

Features:

• Free Initial Chequebook: Enjoy your first chequebook at no charge.
• 24-Hour Cash Deposit Facilities: Access to cash deposit services at your convenience.
• Unlimited Cash and Cheque Withdrawals: No limits on withdrawals for Premium Accounts.

Documentation Requirements:

• For Individuals:
  • Original Valid Passport
  • Residence Visa
• For Companies, Organizations, and Government Bodies:
  • Specific, relevant documents as required at the time of application.

Eligibility Requirements:

• Minimum Monthly Balance: Maintain a minimum balance of AED 50,000.

Features:

• International Debit Card: Access to global banking services.
• Cheque Book: For business transactions.
• Mobile & Internet Banking: Manage your account anytime, anywhere.
• Free e-Statements: Monthly digital account statements at no cost.
• Utility Bill Payment Facility: Convenient payment options for business utilities.
• No Minimum Balance Requirement: Flexibility in managing your funds.
• Auto Sweep Facility: Automatic transfer of excess funds to earn interest or meet requirements.
• Free Domestic Remittances: Unlimited domestic transfers at no charge.
• Free Teller Transactions: Unlimited transactions at bank branches.

Eligibility:

• Available in AED Only: This account is denominated in AED.
• Restricted to Emiratis and GCC Nationals: Only eligible for citizens of the UAE and other GCC countries.
• Valid e-Trader License Required: Proof of a valid e-Trader license is mandatory.
• Yearly Fee: AED 1,800, collected upfront.

Features & Benefits:

• Dedicated Relationship Officer: Personalized support and advice for your business.
• Business Gold Debit Card: High ATM and POS transaction limits.
• Special ADIB Business Gold Cheque Books: Tailored for business needs.
• Multi-Currency Accounts: Open your account in over 15 currencies, including USD, EUR, GBP, JPY, CNY, etc.
• Free Telex Transfers: Manage your business transactions on the go with ADIB Business Internet Banking.
• Islamic Banking Principle: Based on Qard Hasan, where deposits are considered as a non-profit bearing loan to ADIB. The bank is obliged to return the amount upon request.

Eligibility:

• Minimum Monthly Average Relationship Balance: AED 25,000.
• Monthly Maintenance Fees: AED 75.

Documents Required:

1. For Business Entities:
   • Trade License: Proof of business registration.
   • Commercial Registration: Certificate of business registration.
   • Chamber of Commerce Membership Certificate: Proof of membership.
   • Memorandum of Association: Document detailing the business structure and operations.
   • Power of Attorney (POA): If applicable, detailing the authority of signatories.
2. For Signatories:
   • Original Valid Passport: For identification.
   • Passport Copies: For all partners, including residence visa for signatories.
   • Emirates ID: For the signers.

HSBC Business Select Packages (BSP)

HSBC’s Business Select Packages offer hassle-free banking solutions tailored for businesses, featuring three types of accounts: Standard Corporate Account, BSP Basic Account, and BSP Premium Account.

HSBC BSP Basic Account Features:

• Low Minimum Account Balance: Maintain flexibility with a low minimum balance requirement for all Current Accounts.
• Preferential Forex Rates: Enjoy favorable rates on foreign exchange transactions in USD, GBP, EUR, or JPY.
• Multi-Currency Availability: Available in AED and other major foreign currencies.
• Free Transactions: No charges for cash and cheque transactions via business HSBC ATMs and cash/cheque deposit machines.
• Complimentary Phone Banking: Convenient banking services at the touch of a button.
• Extended Hours Banking: Access Business Customer Service Centres with extended banking hours across the UAE.

Additional Features:

• Unlimited Cheque Transactions:
  • Cheque Deposit Machine
  • Inward Clearing Cheques
  • House Cheques
• Cheque Transaction Limit: 10 credits over the branch counter.
• Free Cash Transactions:
  • Cash Deposit Machine/ATM Withdrawals
  • 10 credits and 10 debits over the branch counter.
• Transaction Charges:
  • Free for Deposit Machine/ATM Withdrawals.
  • AED 20 for transactions exceeding the threshold over the branch counter.
• Business Telephone Banking: Free subscription and maintenance.
• Transfer Fees:
  • AED 90 for manual outward foreign currency transfers (FCY TT).
  • AED 65 for manual outward local transfers.
  • AED 30 for electronic outward FCY/local transfers.
  • AED 10 for inward SWIFT transfers not involving FX conversion.
• Monthly Fee: AED 300 monthly maintenance fee, with an additional AED 100 fee if the balance is not maintained.
• Currency Types: Accounts available in USD, GBP, EUR, or JPY.
• Minimum Balance: AED 5,000 (or equivalent) per account at the relationship level.

Preferential Forex Margins:

• GBP (Buy/Sell): 0.0210/0.0213
• EUR (Buy/Sell): 0.0130/0.0133
• JPY (Buy/Sell): 0.00011/0.00014
• USD (Buy/Sell): 0.0160/0.0165

With the HSBC BSP Basic Account, businesses can enjoy efficient and cost-effective banking tailored to their needs.

ADIB Business One Account

Looking for a basic account package to support your business ambitions? The ADIB Business One account offers a minimum average balance of AED 5,000 and a competitive fee structure.

Features & Benefits:

• Business Classic Debit Card: Access your funds with ease.
• Business Classic Cheque Books: Personalized cheque books for your business needs.
• Multi-Currency Options: Open your account in over 15 currencies, including USD, EUR, GBP, JPY, and CNY.
• Business Internet Banking: Bank on the go with free telex transfers via ADIB Business Internet Banking.

Note: This account follows the Islamic principle of Qard Hasan, meaning your deposits are considered a non-profit bearing loan to ADIB, which the bank is obliged to return upon request. You have the option to maintain your account in currencies such as AED, EURO, USD, JPY, and GBP.

Eligibility:

• Minimum Balance: Maintain a minimum monthly average balance of AED 5,000.
• Maintenance Fees: AED 100 per month.

Required Documents:

• Business Documentation: Trade license, commercial registration, chamber of commerce membership certificate, memorandum of association, and any amendments, along with any power of attorney (POA) if applicable.
• Partner Identification: Original valid passports and copies for all partners, including residence visas for signatories.
• Signer’s Identification: Original valid passports and Emirates IDs for the signers.
• Additional Documents: Any other documents requested by the bank.

ADIB Business Elite Account

The ADIB Business Elite account offers personalized service with a dedicated relationship manager for businesses maintaining a minimum average balance of AED 200,000.

Features & Benefits:

• Dedicated Relationship Manager: Personalized support tailored to your business needs.
• Unlimited Teller Transactions: Enjoy free and unlimited teller transactions.
• Business Platinum Debit Card: High ATM and POS limits for your convenience.
• Personalized Cheque Books: Receive ADIB Business Platinum cheque books.
• Multi-Currency Account: Open your account in over 15 currencies, including USD, EUR, GBP, JPY, and CNY.
• Business Internet Banking: Bank on the go with free telex transfers.
• Preferred Rates: Benefit from preferred rates on FX and investment accounts.
• Free Monthly E-Statements: Receive e-statements at no additional cost.

Note: This account is based on the Islamic principle of Qard Hasan, where your deposits are considered a non-profit bearing loan to ADIB. The bank is obliged to return the lent amount upon request. You can also choose to maintain your account in any of the following currencies: AED, EURO, US Dollar, JPY, and GBP.

Eligibility:

• Minimum Balance: Maintain a minimum monthly average relationship balance of AED 200,000.
• Maintenance Fees: AED 25 per month.

Required Documents:

• Company Documents: Trade license, commercial registration, chamber of commerce membership certificate, memorandum of association and any amendments, and POA (if any).
• Partners’ Documents: Original and valid passport copies of all partners, including residence visa for signatories.
• Signer’s Documents: Original and valid passport and Emirates ID for the signer(s).