The possibility to set up a company and open a bank account in the UAE, for example, in Dubai, without being physically present there may appear attractive, as it can reduce both time and financial costs. But how feasible is this scenario in practice?
- Company registration in UAE free zones can be completed remotely, while mainland incorporation often requires the founder’s physical presence for key formalities.
- Obtaining a UAE residence visa always requires in-person medical examination, biometrics, and Emirates ID procedures within the country.
- Most UAE banks require physical presence to open accounts, although some permit remote account opening if the founder already holds a valid UAE residence visa.
Company Registration Process in the UAE
Company incorporation in the UAE, including in Dubai, can take place either on the country’s mainland or in one of the UAE’s free zones. The requirements regarding physical presence in the UAE vary depending on the jurisdiction.
For instance, formation of a mainland company in the UAE requires the founder to be physically present in order to complete certain steps. Registration in a free zone, however, can be carried out without travelling to the UAE.
Below are the stages of company registration and the way each of them can be carried out:
| Registration Stage | How it is Carried Out |
|---|---|
|
Obtaining the necessary consultations |
Remotely, both on the mainland and in free zones. |
|
Choosing the business activity, company name, and company structure |
Remotely, both on the mainland and in free zones. |
|
Preparing and signing the constitutional documents |
Mainland: physical presence may be required to sign and notarise the documents. Free zones: remotely. |
|
Obtaining preliminary approval |
On the mainland and in free zones, via the online portals of the registration authorities. |
|
Renting an office space |
Mainland: a lease agreement for a physical office is required; it can be entered into remotely. Free zones:a “virtual” office can be arranged remotely. |
|
Submitting the registration documents and paying the fees |
Mainland: documents can be submitted through the online portals of the registration authorities, though the founders or an authorised representative may need to be present in person. Free Zones: via the online portals of the registration authorities. |
|
Obtaining a licence listing the permitted business activities |
On the mainland and in free zones, via the online portals of the registration authorities. |
Thus, although many stages of the registration process can be completed without travelling to Dubai, the founder’s physical presence may be required when setting up a mainland company in order to certify the constitutional documents and to submit the documents for registration.
Obtaining a UAE Residence Visa
Setting up a company in Dubai or other emirates is one of the most popular ways to obtain a UAE residence visa. This process, in turn, requires the founder to be physically present in the Emirates.
In particular, the visa application involves mandatory steps that can only be completed in person at authorised medical centres and at ICP service centres in the UAE.
| Step | Description |
|---|---|
|
Medical examination for applicants over the age of 18 |
|
|
Biometrics |
|
These steps are also required for the subsequent issuance of the Emirates ID, which is a mandatory document for UAE residents.
Opening a Bank Account in the UAE
Setting up a UAE company is typically accompanied by opening a bank account in the UAE. To prepare for opening a bank account, it is not necessary to visit the country. For instance, the following steps can be carried out remotely:
- choosing a bank,
- coordinating the required documents with an account manager,
- filling out the application form,
- submitting documents for preliminary review of the company structure and the beneficial owner.
The policies of most banks in Dubai and the UAE require the physical presence of the founder (for a corporate account) or of the beneficial owner (for a personal account). During an in-person meeting, a bank manager typically:
- carries out client identification,
- asks questions about the intended use of the account, and
- performs other standard bank procedures.
At the same time, a number of banks have recently started to open accounts remotely in certain cases. As a result, if the founder already holds a UAE residence visa at the time of company registration, the bank account can be opened remotely.
Conclusion
Currently, it is possible to register a company in the UAE without travelling to the country by choosing one of its free zones. A significant portion of the procedures involved in registering a mainland company can also be completed remotely.
Physical presence will be required at the subsequent stage of obtaining a UAE residence visa, in particular for:
- the medical examination, and
- the submission of biometric data.
As for opening a bank account, most banks in Dubai and the UAE require the applicant to be physically present in the country. However, currently a number of banks allow for remote account opening.
Accordingly, if the founder holds a valid UAE residence visa, both company registration and account opening can be completed without a personal visit to the country.
Tags: Bank, Company Formation, UAE
