From setting up a Dubai company to opening a bank account.
JCME is your one-stop shop.

COMPANY&BANK ACCOUNTEstablishment of a Dubai company and Bank Account Set-up

TAX BENEFITSTax Benefits of a Company in Dubai

VISA TYPETypes of Visas in Dubai

Let us talk about the hot topic, tax. As is in many OECD nations, including the U.S. and Japan, corporations are subject to corporate inhabitant tax, corporate business tax, property tax, business office tax, and more, with the list continuing to expand by the day. On the other hand, Dubai has limited tax obligations that allow companies to thrive and grow their business opportunities.

The only costs to concern yourself with when it comes to maintaining a corporation in Dubai are the License fees, local sponsor fees, and agency fees. Generally speaking, they are usually within 30 to 40,000 AED. All of which have fixed prices allowing maintenance costs not to fluctuate, irrespective of profit.

Suppose a Japanese corporation with a profit of 2.68 million AED pays 23% corporate tax per year under the Japanese tax system. In that case, the remaining corporate funds after tax are 2 million AED, whereas if the corporation pays 30 to 40,000 AED per year under the Dubai tax system for licensing fees, etc., the same corporation with a profit of 2.68 million AED would have 2.66 million AED available as after-tax funds.

For an individual with an annual income of 1.34 million yen, if he/she pays approximately 45% income tax + inhabitant tax in Japan, the amount of money remaining after taxes would be approximately 738,000 AED. In contrast, if you move to Dubai and have a similar income of 1.34 million yen, you will be left with the full 1.34 million AED as there is no income tax and no inhabitant tax.

*Take note that UAE has imposed a 5% VAT rate since 2018

COMPANYOpening a Corporate Bank Account in Dubai

Necessary documents for establishing a company in Dubai

  • ● Passport (valid for at least 6 months)
  • ● Diploma or degree certificate (depending on the license to be obtained)
  • ● Email address
  • ● Emirates ID
  • ● If you do not have an Emirates ID, your address and telephone number
  • ● 3 passport size photos for identification

Obtaining your License and Registering your Business

Licenses can be obtained in 2-4 business days.
(On the condition that all documents are ready at the point of application)
*Please note that the required dates posted by relevant authorities are subject to change.

[Documents you will be provided with]
Trade license, ULA, MOA & AOA, Establishment Card, Certificate of Formation, as well as a Company Stamp

Bank Account Set-up

  • Required documents for opening a corporate bank account
  • ● All documents at the time of incorporation
  • ● Translated bank statements for 6 months
  • ● Utility bills
  • ● EJARI of office/home address
  • ● Company profile
  • ● Details of suppliers and clients
  • ● Company website
  • ● Contracts with clients or suppliers.

About Emirates NBD

Emirates NBD Bank PJSC is a government owned bank in Dubai and one of the largest banking groups in the Middle East in terms of assets.

Today, Emirates NBD employs over 9,000 people from 70 different nationalities, making it one of the largest employers in the UAE.

We provide support for opening an account with Emirates NBD.

PRICEFees for Company and Bank Account Set-up


Support fee

Timeline from application to
License acquisition

Company Set-up in Dubai


Licensing fee: from AED 15,000 ($4,085)
Office fee: from AED 15,000 ($4,085)

Support fee

AED 10,000 ($2,722)

Timeline from application to
License acquisition

5-7 business days

*The amount and the number of days required for completion will vary depending on the type of license, the area of registration (mainland or free zone), and the office chosen.

*In recent years, the measures against international financial crimes have been strengthened, making it more difficult to open an account. Depending on your personal information, you may not be able to open an account.

  • Can a foreigner establish a local company in Dubai and open a corporate or personal account?

    Certainly, as a foreigner, establishing a local company in Dubai enables you to apply for a Residence Visa. Once the Residence Visa is obtained, you can proceed to open corporate or personal accounts.

  • How much time and cost is required to establish a corporation?

    Corporation establishment typically takes 5 to 7 business days upon receipt and submission of all necessary documents. It's possible to complete the incorporation process remotely, without the need to be physically present in Dubai.

    The approximate cost for incorporation is around 25,000 AED. Please reach out to us for comprehensive details, as the complexity and expenses may vary based on the type of license required.

  • Can I open a local bank account in Dubai even if I am a resident in another country?

    Yes, as a non-resident in Dubai, you can open a bank account once you obtain a resident visa in the country.

  • What kind of documents do I need to open a corporate bank account?

    Yes, you can open a corporate bank account in Dubai with a Dubai resident visa even if you are a resident in another country.
    Generally speaking corporate bank accounts are a lot difficult to open compared to personal bank accounts, hence, they are priced higher than opening personal account.
    If the shareholder of the local company is an individual, the following documents are required:
    1. Trade license of Dubai company
    2. Certificate of Incorporation of Dubai company
    3. MOA (Memorandum of Association) & AOA (Articles of Association) of the Dubai company
    4. Office lease/occupancy agreement for office in UAE
    5. Company Profile
    a. Estimated yearly Turnover
    b. Breakdown of prostective 3 suppliers and 3 clients
    6. Copies of Passport, Visa and Emirates ID
    7. Resumes of all shareholders and owners - in English
    8. Proof of residence in the UAE - DEWA invoices, rental agreements, etc.

    If you currently are a Business Owner:
    9. Latest 6 months bank statements of your company- in English (if it is in a different language it needs to be legally translated to English)
    10. Contracts and invoices (if necessary) - English / Legal translation
    11. Certified Trade License - English / Legal translation
    12. Certificate of shareholding of the Japanese corporation - English / Legal Translation

    If you are currently a Freelancer, Employee or Unemployed:
    9. Latest 6 months bank statement of your personal account - English / Legal Translation

    *Required documents may vary depending on the bank you choose and your situation.
    *When all required documents are in place, we will begin the process of opening a bank account.
    *In recent years, it has become more difficult to open a bank account due to the tightened measures against international financial crimes. Depending on your personal information, we may not be able to open an account for you.

  • Is it necessary to rent an office space and hire staff for the company's operations?

    It is not necessarily required to have a physical office or staff.

  • What is the Corporate Tax regulation effective in Dubai from June 2023?

    Corporations with an annual turnover surpassing 3,000,000 AED (approximately $817,000) will incur a 9% tax on the 'net profit' after deducting expenses.

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