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Introducing online submission of identification documents in UAE

February 1, 2017

As per the regulations set by Central Bank of the UAE, all banks need to maintain valid identity documents / information for their customers, at all times. This helps the banks know / understand their customers and their financial dealings to be able to serve them better and manage risks prudently.

 

KYC (Know Your Customer) requirements have always been in place and Banks have been taking KYC documents in accordance with the guidelines issued by the Central Bank of the UAE from time to time.

 

 

 

If you do not provide the required KYC documents to the Bank it can happen potential discontinuation of services, or even a possible exit, of your accounts.

 

What documents do you need to submit to fulfill KYC requirements?

 

Individual Customer
  • Latest Emirates ID

  • Passport

  • Visa

  • Proof of Residential Address in UAE (Utility bill or other bank statement from last 3 months)

  • FATCA self-declaration Form

 

Entity / Organization / Company
  • Emirates ID Card for all shareholders with >5% holding

  • Passport for all shareholders with >5% holding

  • Visa for all shareholders with >5% holding

  • Proof of Operating Address in UAE (Utility bill or other bank statement from last 3 months)

  • Trade License or Certificate of incorporation

  • Memorandum & Articles of Association

  • Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account

  • FATCA self-declaration Form

 

 

 

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