WhatsApp quoteCrucially, opening a business account with RAKBANK is a realistic goal for a well-prepared company, and preparation is exactly what GoldenKey provides. For most clients, 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. The most common businesses Portuguese nationals open through GoldenKey are in technology, hospitality, engineering and renewable energy, although RAKBANK supports almost any activity. To be clear, portuguese nationals are a smaller community active in engineering, hospitality and technology, so the RAKBANK authority, the banks and the immigration officers see Portuguese applications every day and process them without hesitation.
Why RAKBANK
Importantly, 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 request is approved faster. GoldenKey has prepared RAKBANK files for Portuguese clients in technology, hospitality, engineering and renewable energy, which means we know which Portugal documents need attestation and which can be submitted as plain copies.
How RAKBANK works with GoldenKey
Step 1Profile review
We assess your business profile against RAKBANK's appetite — activity, nationalities, turnover — and confirm the fit first. We keep a written record of this step so your file for a RAKBANK business account for Portuguese owners is audit-ready.
Step 2Document pack
GoldenKey assembles the trade licence, memorandum, passport and visa copies, proof of address, business profile and supporting invoices or contracts.
Step 3Introduction and meeting
GoldenKey introduces you to a business banking officer at RAKBANK and joins the application meeting, in person or online. Your portal shows the status of this step for a RAKBANK business account for Portuguese owners in real time.
Step 4Compliance and activation
After compliance review by RAKBANK, any queries are answered with our help and the account is opened.
Documents required
To be clear, gather these documents and GoldenKey will take care of the rest of a RAKBANK business account for Portuguese owners.
- A business profile describing products, customers, suppliers and countries of operation
- Sample invoices, contracts or purchase orders where available
- A police clearance certificate from Portugal if the activity or the Golden Visa category requires it
- Educational certificates attested by the Portugal authorities and the UAE embassy, for professional activities
- A bank statement from your Portugal bank for the last three months, which banks use to understand your profile
- Trade licence, certificate of incorporation and memorandum of association
Pricing
The figures below for a RAKBANK business account for Portuguese owners are updated by GoldenKey whenever the issuing authority changes its fees, so the price you see is the current one. As a rule, all prices for a RAKBANK business account for Portuguese owners are indicative, shown in AED and confirmed in writing before you pay.
| 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 2026-10-07.
Why the UAE
Residence visas for owners and families come with the company, which makes a RAKBANK business account for Portuguese owners a route to relocation as well as a business decision. Crucially, since 2021, most mainland activities have allowed 100% foreign ownership, and free zones have always offered it, so a RAKBANK business account for Portuguese owners no longer requires a local partner.
Why GoldenKey
Most of our RAKBANK clients come to us through referrals from other entrepreneurs, and that is why we take pride in keeping every promise we put in writing. Our quotations for a RAKBANK business account for Portuguese owners list every government fee and our service fee on one page, in writing, before you pay anything. GoldenKey is based in Ajman Free Zone and has helped entrepreneurs from more than 60 countries with a RAKBANK business account for Portuguese owners, so the paperwork, approvals and timing hold no surprises for us.
Call or WhatsApp GoldenKey today and a consultant will walk you through a RAKBANK business account for Portuguese owners step by step, with no obligation and no pressure.
Frequently asked questions
Does GoldenKey guarantee a RAKBANK account?
No consultant can. RAKBANK's compliance team makes the decision. What GoldenKey does is prepare a complete, consistent submission and introduce you to the right banking officer, which is where most of the difference is made.
Is a minimum balance required at RAKBANK?
On the ground, most UAE banks apply a minimum average balance or a monthly fee below it. GoldenKey confirms the current RAKBANK terms for your package before you apply.
Can a free zone company open an account with RAKBANK?
Yes. RAKBANK accepts companies from the main free zones, subject to its review. A clear activity and a UAE-resident signatory help.
Do Portuguese nationals need a UAE visa before applying for RAKBANK?
No. You can apply for the licence from Portugal with scanned documents, and the investor UAE residence visa is processed afterwards.
Can a Portuguese citizen own 100% of a company in RAKBANK?
Yes. Portuguese nationals can own the full share capital of a RAKBANK company with no local partner, exactly like any other nationality.
