RAKBANK Account for a Mainland LLC

Why RAKBANK

Having a UAE UAE residence visa and Emirates ID for at least one signatory makes a RAKBANK application noticeably smoother. 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. 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.

How RAKBANK works with GoldenKey

1. 
   Step 1

   Profile review

   On the ground, we review your licence, activity, shareholder nationalities and expected turnover and confirm that RAKBANK is a sensible match. For a RAKBANK account for a mainland limited liability company licensed by an economic department 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

   Crucially, we introduce you to a RAKBANK business banking officer and sit with you for the application meeting, in person or by video. Expect clear updates from your GoldenKey consultant while this step runs for a RAKBANK account for a mainland limited liability company licensed by an economic department.

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 mainland limited liability company licensed by an economic department.

• Proof of residential address for each signatory
• A CV for each shareholder and the company's website or social links
• A business profile describing products, customers, suppliers and countries of operation
• Personal or corporate bank statements for the last three to six months
• Sample invoices, contracts or purchase orders where available
• Office tenancy contract or flexi-desk agreement

Pricing

The figures below for a RAKBANK account for a mainland limited liability company licensed by an economic department are updated by GoldenKey whenever the licensing authority changes its fees, so the price you see is the current one. Day to day, pricing for a RAKBANK account for a mainland limited liability company licensed by an economic department depends on the package you choose; every option below includes GoldenKey's service and the government fees stated.

How RAKBANK views a mainland llc

Mainland LLCs are the most familiar structure for RAKBANK, because the licence, Ejari tenancy and Chamber membership give the bank an easy picture of a real UAE business. Expect questions on expected monthly turnover and the main counterparties.

Why the UAE

Since 2021, most mainland activities have allowed 100% foreign ownership, and free zones have always offered it, so a RAKBANK account for a mainland limited liability company licensed by an economic department no longer requires a local partner. Residence visas for owners and families come with the company, which makes a RAKBANK account for a mainland limited liability company licensed by an economic department a route to relocation as well as a business decision.

Why GoldenKey

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 request sit. Our quotations for a RAKBANK account for a mainland limited liability company licensed by an economic department list every government fee and our service fee on one page, in writing, before you pay anything. Because GoldenKey works with the licensing authority, the immigration department and the banks every single week, we know exactly which documents each of them will ask for on a RAKBANK file.

Frequently asked questions