HSBC UAE Account for a Sole Establishment

Why HSBC UAE

Having a UAE residence visa and Emirates ID for at least one signatory makes a HSBC UAE file noticeably smoother. If HSBC UAE is not the right fit for your profile, we say so and introduce you to a bank that is, because a well-matched file is approved faster. Account opening at HSBC UAE is a compliance process, not a sales process: the bank wants to understand who you are, what you sell, who pays you and where the money comes from.

How HSBC UAE works with GoldenKey

1. 
   Step 1

   Profile review

   We assess your business profile against HSBC UAE's appetite — activity, nationalities, turnover — and confirm the fit first.

2. 
   Step 2

   Document pack

   We compile the licence, memorandum, passport and visa copies, address proof, business profile and sample contracts in the layout HSBC UAE expects. For a HSBC UAE account for a mainland business owned by one individual this step rarely needs your presence; scans and e-signatures are enough.

3. 
   Step 3

   Introduction and meeting

   Day to day, we arrange the meeting with a HSBC UAE relationship manager and sit alongside you to answer compliance questions.

4. 
   Step 4

   Compliance and activation

   Day to day, hSBC UAE's compliance team reviews the file, raises any follow-up questions (which we help answer) and activates the account on approval. If the authority raises a query on a HSBC UAE account for a mainland business owned by one individual at this stage, we handle it the same day.

Documents required

Gather these documents and GoldenKey will take care of the rest of a HSBC UAE account for a mainland business owned by one individual.

• Proof of residential address for each signatory
• A business profile describing products, customers, suppliers and countries of operation
• Office tenancy contract or flexi-desk agreement
• Sample invoices, contracts or purchase orders where available
• Passport, visa and Emirates ID copies of all shareholders and signatories
• Personal or corporate bank statements for the last three to six months

Pricing

Day to day, use the table below to compare packages for a HSBC UAE account for a mainland business owned by one individual; we will confirm the exact total for your case in a written quotation. Importantly, pricing for a HSBC UAE account for a mainland business owned by one individual depends on the package you choose; every option below includes GoldenKey's service and the government fees stated.

How HSBC UAE views a sole establishment

Sole establishments are assessed on the owner personally as much as on the business. HSBC UAE will look at the owner's visa, personal statements and the activity, and may offer a simpler account package for small professional practices.

Why the UAE

Residence visas for owners and families come with the company, which makes a HSBC UAE account for a mainland business owned by one individual a route to relocation as well as a business decision. There are no restrictions on repatriating profits or capital, so earnings from a HSBC UAE account for a mainland business owned by one individual can be moved to your home country or reinvested freely.

Why GoldenKey

GoldenKey's consultants have handled a HSBC UAE account for a mainland business owned by one individual for traders, consultants, tech business owners and family offices, which gives us a realistic view of what each authority approves quickly. GoldenKey builds its own CRM and client portal, so you can see the status of your HSBC UAE application, download your documents and pay invoices from your phone. Importantly, our quotations for a HSBC UAE account for a mainland business owned by one individual list every government fee and our service fee on one page, in writing, before any payment anything.

Frequently asked questions