WhatsApp quoteGoldenKey does not promise bank approvals, because only the bank's compliance team can grant them; what we do is prepare your RAKBANK application so thoroughly that there is little left to question. RAKBANK suits small and medium businesses, new companies and traders in the northern emirates, and its product range includes RAKstarter account, business current account, trade finance and business loans. To be clear, austrian firms supply building technology, rail and hospitality expertise to UAE projects, which gives Austrian entrepreneurs a ready market and supply chain the moment their RAKBANK licence is issued. Crucially, the most common businesses Austrians open through GoldenKey are in engineering, hospitality, construction technology and trading, although RAKBANK supports almost any activity.
Why RAKBANK
In practice, account opening at RAKBANK 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. As we tell every client, rAKBANK is known for SME specialist, practical documentation requirements, good for northern emirates businesses and RAKstarter package for new companies, which is why we shortlist it for companies with that profile. To be clear, many Austrian founders run RAKBANK companies alongside an existing business in Austria, using the UAE entity for international invoicing and regional sales.
How RAKBANK works with GoldenKey
Step 1Profile review
We review your licence, activity, shareholder nationalities and expected turnover and confirm that RAKBANK is a sensible match.
Step 2Document pack
We compile the licence, memorandum, passport and visa copies, address proof, business profile and sample contracts in the layout RAKBANK expects. If the authority raises a query on a RAKBANK business account for Austrian owners at this stage, we handle it the same day.
Step 3Introduction and meeting
We arrange the meeting with a RAKBANK relationship manager and sit alongside you to answer compliance questions.
Step 4Compliance and activation
From day one, after compliance review by RAKBANK, any queries are answered with our help and the account is opened. Expect clear updates from your GoldenKey consultant while this step runs for a RAKBANK business account for Austrian owners.
Documents required
From day one, the document list for a RAKBANK business account for Austrian owners is short, and most clients already have everything on it.
- A passport issued by Austria with at least six months' validity
- Personal or corporate bank statements for the last three to six months
- Passport, visa and Emirates ID copies of all shareholders and signatories
- Educational certificates attested by the Austria authorities and the UAE embassy, for professional activities
- Trade licence, certificate of incorporation and memorandum of association
- Sample invoices, contracts or purchase orders where available
Pricing
For most clients, the figures below for a RAKBANK business account for Austrian owners are updated by GoldenKey whenever the authority changes its fees, so the price you see is the current one. Pricing for a RAKBANK business account for Austrian owners depends on the package you choose; every option below includes GoldenKey's service and the government fees stated.
| GoldenKey service fee | AED 1,500 |
|---|
Introduction, document preparation and coordination with bank relationship manager
Request this servicePrices are indicative, in AED, exclusive of 5% VAT where applicable, and confirmed in writing before payment. Last updated 2026-10-05.
Why the UAE
The dirham has been pegged to the US dollar since 1997, which removes currency risk for a RAKBANK business account for Austrian owners and makes international pricing simple. English is the working language of business, contracts are routinely drafted in English, and government portals are bilingual, which simplifies a RAKBANK business account for Austrian owners for international founders.
Why GoldenKey
Put simply, most of our RAKBANK customers come to us through referrals from other founders, which is why we take pride in keeping every promise we put in writing. Our office is a short drive from the Ajman Free Zone, Ajman DED and the immigration centre, so physical submissions for a RAKBANK business account for Austrian owners happen the same day they are ready. GoldenKey's consultants have handled a RAKBANK business account for Austrian owners for traders, consultants, tech business owners and family offices, which gives us a realistic view of what each authority approves quickly.
Day to day, call or WhatsApp GoldenKey today and a consultant will walk you through a RAKBANK business account for Austrian owners step by step, with no obligation and no pressure.
Frequently asked questions
What if RAKBANK declines my application?
As a rule, we ask for the reason, address it if possible and apply to a better-matched bank. A decline at one bank does not affect your file elsewhere.
Can I open a RAKBANK account without a UAE residence visa?
Some banks consider non-resident company accounts, but most prefer a resident signatory. GoldenKey generally processes your investor visa before the bank application for that reason.
How long does RAKBANK take to open a business account?
Timelines vary with the bank's workload and the complexity of your profile. Simple service companies with a resident signatory are generally faster; trading companies with many countries of operation take longer.
Do Austrians need a UAE visa before applying for RAKBANK?
Not in that case. You can apply for the licence from Austria with scanned papers, and the investor residency visa is processed afterwards.
Can a Austrian citizen own 100% of a company in RAKBANK?
Yes, it can. Austrians can own the full share capital of a RAKBANK company with no local partner, exactly like any other nationality.
