As key facilitators of trade between UAE and Egypt that catered to the needs of Egyptian expatriates living in the Gulf, Banque Misr became a valued Institution in the MENA region.
Currently, with over 40 years of experience in building on its operational benefits within UAE, it has established 5 branches in Dubai, Abu Dhabi, Al Ain, Sharjah, and Ras Al Khaimah offering a wide range of corporate, investment, and personal banking services.
General Information
- Saving and settlement (current) accounts
- Personal and corporate accounts for local UAE and foreign companies incorporated OUTSIDE the UAE
- Min. monthly balance – AED 10 000 (~USD 2 730), and for Elite Private Banking ~ USD 100 000
- Incoming transfer ~ AED 20 (~ USD 5.5)*, outgoing transfer ~ AED 150 (~ USD 41)*
- Bank cards
- Internet banking in English
- Pre-approval is applied for before the opening process starts, which helps to prognose your positive chances
- The beneficial owner is required to personally visit the UAE for the opening of account
* The bank fees are indicative and may ultimately differ depends on the banking package chosen by the client.
REQUIREMENTS FOR DOCUMENTS AND INFORMATION*
For a legal entity:
- Completed Company Profile;
- Business Plan;
- Resolution for opening an account and appointing a signatory to the account;
- Memorandum and Articles of Association.
UAE banks generally accept corporate documents without notarization.
If there is a corporate director/shareholder/secretary in the structure, it is necessary to provide the bank with all the documents listed above.
Since the UAE is not a party to the Hague Convention on Apostille, copies of all statutory documents for the corporate director/shareholder/secretary must be legalized by the UAE embassy in the country of issue.
- completed bank forms;
- statement of the company’s bank account for the last 6 months (in the case of a new company, bank and financial statements of the owner’s other company can be provided with the proof of his ownership);
- copies of existing contracts/invoices with counterparties;
- confirmation of the source of origin of funds, including the initial deposit;
- office lease agreement, cash flow chart, ownership structure chart, etc.
For an individual (directors / shareholders / beneficial owners / attorneys):
- Proof of ID (passport);
- Proof of address (not older than 3 months);
- CV;
- Bank reference letter and bank statements for the last 6 months.