RAKBANK Account for General Trading Businesses

Why RAKBANK

Crucially, having a UAE residence visa and Emirates ID for at least one signatory makes a RAKBANK file noticeably smoother. On the ground, if RAKBANK is not the right fit for your profile, we say so and introduce you to a bank that is, because a well-matched application is approved faster. As a rule, rAKBANK is a sensible home for general trading because import, export, re-export and wholesale of a broad range of goods under one licence is a well-understood activity there and the approvals are routine.

How RAKBANK works with GoldenKey

1. 
   Step 1

   Profile review

   We assess your business profile against RAKBANK's appetite — activity, nationalities, turnover — and confirm the fit first. For a RAKBANK account for a general trading company this step rarely needs your presence; scans and e-signatures are enough.

2. 
   Step 2

   Document pack

   We compile the licence, memorandum, passport and visa copies, address proof, business profile and sample contracts in the layout RAKBANK expects.

3. 
   Step 3

   Introduction and meeting

   Put simply, we introduce you to a RAKBANK business banking officer and sit with you for the application meeting, in person or by video. Nothing is submitted for a RAKBANK account for a general trading company until you have reviewed and approved it.

4. 
   Step 4

   Compliance and activation

   In short, after compliance review by RAKBANK, any queries are answered with our help and the account is opened.

Documents required

Gather these documents and GoldenKey will take care of the rest of a RAKBANK account for a general trading company.

• Sample invoices, contracts or purchase orders where available
• Proof of residential address for each signatory
• Passport, visa and Emirates ID copies of all shareholders and signatories
• Trade licence, certificate of incorporation and memorandum of association
• A CV for each shareholder and the company's website or social links
• Personal or corporate bank statements for the last three to six months

Pricing

For most clients, the figures below for a RAKBANK account for a general trading company are updated by GoldenKey whenever the authority changes its fees, so the price you see is the current one. Crucially, pricing for a RAKBANK account for a general trading company depends on the package you choose; every option below includes GoldenKey's service and the government fees stated.

Why the UAE

There are no restrictions on repatriating profits or capital, so earnings from a RAKBANK account for a general trading company can be moved to your home country or reinvested freely. Banking, logistics, telecoms and digital government services in the UAE are among the most advanced in the region, which keeps the running costs of a RAKBANK account for a general trading company predictable.

Why GoldenKey

As we tell every client, because GoldenKey works with the licensing authority, the immigration department and the banks every single week, we know exactly which papers each of them will ask for on a RAKBANK file. Crucially, our office is a short drive from the Ajman Free Zone, Ajman DED and the immigration centre, so physical submissions for a RAKBANK account for a general trading company happen the same day they are ready. As we tell every client, if a document is missing or an approval is delayed on your RAKBANK file, we tell you immediately and explain the fix, rather than letting the application sit.

Frequently asked questions