Power of attorney for opening and managing a company bank account

This power of attorney authorises the agent to carry out the steps of opening and managing a company bank account on the company’s behalf, within the limits the bank accepts. We prepare the power of attorney and coordinate its notarization route.

The bank’s due diligence

Under Central Bank guidance, banks verify that the person acting on behalf of a company is authorised, verify that person’s identity, and identify and verify the company’s beneficial owners.

Each bank applies its own policies in addition, and may require the attendance or verification of the persons concerned. A power of attorney does not exempt the company or its owners from these requirements and does not guarantee the opening of the account.

Powers in the power of attorney

The power of attorney is issued by the company through the person authorised to sign for it. It names the bank and the powers granted, such as submitting the account opening application, signing the bank forms, and operating the account within the limits set.

What we need to prepare the power of attorney

• The company’s trade licence and memorandum of association.
• Emirates ID or passport of the person signing for the company.
• Agent’s full name, nationality, and Emirates ID or passport number.
• The bank name and the powers to be granted.

Notarization

We coordinate the appropriate notarization route through Dubai Courts or the relevant federal channel, depending on the POA and the principal’s details.

• At Dubai Courts, remote notarization requires a valid Emirates ID.
• If the party holds a passport only, without an Emirates ID, Dubai Courts requires personal attendance before the notary public.

Steps

1. Send the documents over WhatsApp or email.
2. We prepare the power of attorney in the appropriate format for notarization based on the transaction details.
3. You review and approve the draft.
4. The principal completes the required notarization or signing step through the applicable channel.

Contact

WhatsApp: +971 56 161 6635

Email: info@poainminutes.ae

Related services

• Banking power of attorney
• Company formation power of attorney

Official references

• Central Bank of the UAE: requirements for legal person customers
• Central Bank of the UAE: guidance on customer due diligence