A bank statement in the UAE is a key document that is often indispensable. It may be required for audits, tax reviews, visa procedures, or legal proceedings. While online banking provides access to transaction history, this access is limited to a specific period, which varies by bank. If statements for a previous year are required, you may need to visit a branch and submit a formal written request. In some cases, the bank may also request a power of attorney or supporting documents confirming the purpose of the statement.
Bank statements from the UAE
In the UAE, the speed at which your matters are resolved often depends on having the correct bank statement. The exact format and type of statement required will vary depending on the specific purpose and situation.
Non-UAE bank statements
When a company or entrepreneur enters the UAE market, one of the first requirements imposed by banks is the submission of bank statements from existing foreign accounts. These statements are typically required for:
Based on corporate bank statements, UAE banks assess a company’s financial stability and the legitimacy of its income sources. If the statements contain suspicious transactions or originate from a sanctioned bank, the review process may be suspended or significantly delayed.
The FLEXZO team carefully reviews corporate bank statements before they are submitted to UAE banks. We verify whether the issuing bank is subject to sanctions and assess the statements for transactions that could raise concerns with regulators or compliance teams.
Access to bank statements in the UAE
Tip: download and save your bank statements at least every six months. This can be done through your online banking portal or mobile banking app.
Key points when opening and closing accounts
When opening an account, some banks automatically issue an initial statement. This allows clients to immediately verify the starting balance and first transactions. Such a statement can be useful, for example, when applying for a residence visa.
When closing an account, the bank typically provides a final statement confirming that there are no outstanding balances or pending transactions. This is usually issued as a certified paper document or an official electronic version.
Important: Incorrectly prepared documents when opening or closing an account can lead to delays, refusal to close the account, and complications with visa or regulatory procedures.
Why needs bank statements
A bank statement is more than just a list of transactions — it is an official document that verifies the flow of funds in an account. In the UAE, bank statements are often required for the following purposes:
Tip: even if audits or visa procedures are not currently planned, keeping your bank statements on file is highly recommended — it helps prevent potential issues in the future.
Bank statement formats: which one to choose
In the UAE, banks offer several ways to obtain a statement. Each format serves a specific purpose, so it’s important to understand the differences before requesting one.
Online statement — available through internet banking or mobile apps in PDF or Excel format. Suitable for daily monitoring or submitting documents where electronic copies are accepted by regulators. Typically, online access is limited to the last 6–12 months.
Paper statement — issued at a bank branch with an official stamp and signature. Required for formal procedures where electronic copies are not accepted, such as court cases or visa applications. A branch visit is necessary to obtain this document.
Certified statement — obtained in-branch with a bank signature and seal. Used for audits, government authorities, foreign banks, or investment-related processes.
How to request a bank statement
In the UAE, bank statements can be obtained either personally or through an authorized representative, but it is important to follow the bank’s procedures.
In person: you can download PDF or Excel statements via your online banking portal, or visit a branch to request a paper or certified statement. For certified statements, a passport and the client’s signature are usually required.
Through an authorized representative: if you cannot visit the bank in person, you can authorize a third party either using a bank’s internal authorization form or a notarized Power of Attorney (POA), depending on the bank’s requirements.
Many banks allow document collection without a notarized POA. For example, ADCB provides a Customer Authorisation Form for Collection of Items, where the client lists the representative’s full name and the types of documents to be collected; the representative presents their passport or Emirates ID.
FAB offers two options via its official Form Centre: the Key Contact Person (KCP) Authorization Letter and the Power of Attorney (POA) Form, distinguishing between a simple authorization letter and a full notarized POA.
A notarized POA is usually required if the representative will carry out broader banking operations, such as transactions, account management, or complex requests, or if the bank’s policies specifically mandate it. A POA must be notarized in the UAE; if issued abroad, it requires consular or MOFAIC legalization for use in the Emirates. This process is regulated by the official notary authorities (MOJ/ADJD) and their rules for issuing POAs.
Tip: always check with the bank which documents are required for the specific type of statement you need. Banks may sometimes request additional proof of identity or clarification of the purpose. Doing this helps avoid unnecessary visits and delays.
Pitfalls when obtaining bank statements
If you require a certified statement or a properly prepared request, it is essential to take into account the specific requirements of each bank and to have all necessary documents ready in advance.
The FLEXZO team reviews corporate bank statements for use in the UAE. If you need guidance on correctly preparing documents or advice on any nuances, contact us.
For more useful insights on doing business in the UAE, follow our Telegram channel — @FlexzoUAE.
Bank statements from the UAE
In the UAE, the speed at which your matters are resolved often depends on having the correct bank statement. The exact format and type of statement required will vary depending on the specific purpose and situation.
- Personal bank statements are typically required for visa-related procedures, income verification, or court matters. In such cases, banks issue statements bearing an official stamp and signature, as only this certified format is accepted by government authorities and courts
- Corporate bank statements fall within the company’s compliance responsibilities. They are essential for audits, tax filings, and regulatory requests. Without them, accountants cannot finalize financial reports, and auditors cannot sign off on the balance sheet. During account closure or company liquidation, bank statements also serve as proof that the company has a zero balance and no outstanding obligations
Non-UAE bank statements
When a company or entrepreneur enters the UAE market, one of the first requirements imposed by banks is the submission of bank statements from existing foreign accounts. These statements are typically required for:
- Opening a corporate bank account — banks review the company’s operating history and cash flow patterns
- KYC and compliance procedures — regulators and banks require evidence that the business operates legitimately and that the source of funds is transparent
- Source of funds verification for compliance or investment purposes — the clearer and more consistent the transaction history, the smoother the approval of transactions and onboarding processes
Based on corporate bank statements, UAE banks assess a company’s financial stability and the legitimacy of its income sources. If the statements contain suspicious transactions or originate from a sanctioned bank, the review process may be suspended or significantly delayed.
The FLEXZO team carefully reviews corporate bank statements before they are submitted to UAE banks. We verify whether the issuing bank is subject to sanctions and assess the statements for transactions that could raise concerns with regulators or compliance teams.
Access to bank statements in the UAE
- UAE banks retain bank statements in online banking systems for a limited period, typically ranging from six to twelve months, depending on the bank. For example, Emirates NBD provides online access to statements for the most recent six months only; earlier records are not visible in the system
- With ADCB, electronic statements can be downloaded via online banking for selected periods, while stamped hard copies are issued only through a branch visit. Mashreq allows customers to download electronic statements in PDF or Excel format free of charge; however, certified paper statements are subject to a fee of AED 26.25 per cycle — one month per cycle for current accounts and three months for savings accounts
- To optimize storage and system performance, banks archive older records rather than keeping them accessible online. These archived statements can still be obtained upon request, usually through a branch application. Processing times may range from one to several business days, and banks may request additional documentation to confirm account ownership
Tip: download and save your bank statements at least every six months. This can be done through your online banking portal or mobile banking app.
Key points when opening and closing accounts
When opening an account, some banks automatically issue an initial statement. This allows clients to immediately verify the starting balance and first transactions. Such a statement can be useful, for example, when applying for a residence visa.
When closing an account, the bank typically provides a final statement confirming that there are no outstanding balances or pending transactions. This is usually issued as a certified paper document or an official electronic version.
Important: Incorrectly prepared documents when opening or closing an account can lead to delays, refusal to close the account, and complications with visa or regulatory procedures.
Why needs bank statements
A bank statement is more than just a list of transactions — it is an official document that verifies the flow of funds in an account. In the UAE, bank statements are often required for the following purposes:
- Audit and financial reporting — companies must provide auditors with accurate records of account activity
- Taxes and compliance — regulators may request statements to verify the source of funds
- Residency and visa procedures — banks and government authorities sometimes require statements for recent months to confirm financial standing
- Legal proceedings — in court cases, whether commercial disputes or personal financial matters, statements serve as official evidence of account activity
Tip: even if audits or visa procedures are not currently planned, keeping your bank statements on file is highly recommended — it helps prevent potential issues in the future.
Bank statement formats: which one to choose
In the UAE, banks offer several ways to obtain a statement. Each format serves a specific purpose, so it’s important to understand the differences before requesting one.
Online statement — available through internet banking or mobile apps in PDF or Excel format. Suitable for daily monitoring or submitting documents where electronic copies are accepted by regulators. Typically, online access is limited to the last 6–12 months.
Paper statement — issued at a bank branch with an official stamp and signature. Required for formal procedures where electronic copies are not accepted, such as court cases or visa applications. A branch visit is necessary to obtain this document.
Certified statement — obtained in-branch with a bank signature and seal. Used for audits, government authorities, foreign banks, or investment-related processes.
How to request a bank statement
In the UAE, bank statements can be obtained either personally or through an authorized representative, but it is important to follow the bank’s procedures.
In person: you can download PDF or Excel statements via your online banking portal, or visit a branch to request a paper or certified statement. For certified statements, a passport and the client’s signature are usually required.
Through an authorized representative: if you cannot visit the bank in person, you can authorize a third party either using a bank’s internal authorization form or a notarized Power of Attorney (POA), depending on the bank’s requirements.
Many banks allow document collection without a notarized POA. For example, ADCB provides a Customer Authorisation Form for Collection of Items, where the client lists the representative’s full name and the types of documents to be collected; the representative presents their passport or Emirates ID.
FAB offers two options via its official Form Centre: the Key Contact Person (KCP) Authorization Letter and the Power of Attorney (POA) Form, distinguishing between a simple authorization letter and a full notarized POA.
A notarized POA is usually required if the representative will carry out broader banking operations, such as transactions, account management, or complex requests, or if the bank’s policies specifically mandate it. A POA must be notarized in the UAE; if issued abroad, it requires consular or MOFAIC legalization for use in the Emirates. This process is regulated by the official notary authorities (MOJ/ADJD) and their rules for issuing POAs.
Tip: always check with the bank which documents are required for the specific type of statement you need. Banks may sometimes request additional proof of identity or clarification of the purpose. Doing this helps avoid unnecessary visits and delays.
Pitfalls when obtaining bank statements
- Fees for certified statements: standard account packages usually incur a fee for certified statements, while some premium plans may include certain services
- Duplicate or archived statements: banks may charge for retrieving historical statements (e.g., older than one year). For example, RAKBANK charges between AED 50 and AED 100 for such requests
- Additional documentation requirements: banks may ask you to specify the purpose of the statement, such as audit, tax review, legal proceedings, or visa applications. Failure to provide this information can result in the bank refusing the request
If you require a certified statement or a properly prepared request, it is essential to take into account the specific requirements of each bank and to have all necessary documents ready in advance.
The FLEXZO team reviews corporate bank statements for use in the UAE. If you need guidance on correctly preparing documents or advice on any nuances, contact us.
For more useful insights on doing business in the UAE, follow our Telegram channel — @FlexzoUAE.
