Commercial Bank of Dubai is now one of the leading banks in the UAE, offering innovative and bespoke personal and business banking services through state-of-the-art digital channels, including mobile and online banking, and through an extensive branch and ATM network.
CBD Bank Financial Services & Online Banking
- Corporate banking
- Business banking
- Retail banking
- Trade Finance
- Treasury
- Cash management
- Islamic banking
Online banking: CBD’s mobile banking app
Corporate Account Types and Minimum Required Balance
- Premium: Minimum balance of AED 350,000/month
- Gold: Minimum balance of AED 1,000,000/month
- Platinum: Minimum balance of AED 3,000,000/month
Currencies: AED (UAE Dirham); USD (US Dollar); GBP (British Pound); EUR (Euro)
Language: Arabic, English
Cards: VISA
Documents Required to Open Corporate Account
- Trade License: Valid commercial license issued by the UAE government.
- Memorandum of Association (MoA): Document outlining the company’s objectives and structure.
- Passport Copies: For all partners and authorized signatories.
- Emirates ID Copies: For all partners and authorized signatories.
- Visa Copies: For expatriate partners and authorized signatories.
- Office Tenancy Contract (Ejari): Proof of physical office space in the UAE.
- Share Certificate: Document indicating the ownership structure of the company.
- Parent Company’s Legal Documents: If applicable, documents from the parent company.
- Bank Statements: Last 6 months of bank statements (personal and/or company).
- Utility Bills: Proof of address for the company and authorized signatories.
- VAT Certificate: Proof of VAT registration (if applicable).
- Business Plan: Overview of the company’s business model and objectives.
- Client List: List of existing or prospective clients (suppliers/buyers).
- Invoices: Debit and credit invoices, shipping documents, customs clearance documents.
Corporate Account Opening Procedure
- Select Account Type: Determine the most suitable account type based on your business needs.
- Gather Documents: Collect all required documents as listed above.
- Submit Application: Submit the completed application form along with the required documents to CBD.
- Verification Process: CBD will review and verify the submitted documents.
- Account Approval: Upon successful verification, your corporate account will be approved and activated.
- Access Banking Services: You will receive your debit card, cheque book, and access to CBD’s online banking services.
Approximate time frame to open corporate account: 2-3 weeks
Personal Account Types and Eligibility
- Current: Minimum salary of AED 5,000
- CBD Elite: Minimum Total Deposits and/or Investments with CBD AED 400,000 or Minimum Monthly Salary Transfer to CBD AED 50,000
- CBD Private: Minimum Total Deposits and/or Investments with CBD AED 3,500,000 or Minimum Monthly Salary Transfer to CBD AED 150,000 AED
