Documents Required to Open a Hubpay Business Account

Starting a business in the UAE is an exciting venture, but the requirements for opening a corporate account can be a challenge. At Hubpay, we've streamlined our digital onboarding process to get you financially live in as little as one business day.

To ensure a smooth and fast setup, it’s essential to have the right documents ready. This guide provides a clear checklist of what you'll need, whether you're an onshore SME, an offshore company, or a high-volume treasury client.

1. For Onshore & Free Zone Companies (LLCs, FZCOs)

This checklist applies to most businesses registered on the UAE mainland or within a free zone like DMCC or SPC.

Key business documents:

• Valid Trade License: Your license must be active, and the registered name must match your application.

• Memorandum of Association (MOA) / Articles of Association (AOA): This is required for all LLC and partnership entities.

• Proof of Business Address: A valid tenancy contract, office lease agreement, or a recent utility bill (e.g., DEWA) dated within the last 90 days.

• Company Bank Statement: A recent 3-month bank statement is required. If your company is newly incorporated, we require a 6-month personal bank statement from the Ultimate Beneficial Owner (UBO).

KYC Documents (for all UBOs with 25%+ ownership):

• Passport Copy

• Emirates ID (for UAE residents) or a valid government-issued ID from the country of residence.

• CV or LinkedIn Profile of the primary UBO.

2. For Offshore Companies (RAK ICC, JAFZA Offshore, etc.)

Onboarding for offshore entities requires a few additional documents to ensure full compliance with the strict regulatory standards set by our regulator, Abu Dhabi Global Market (ADGM).

In addition to the documents listed above, you will need:

• Certificate of Good Standing & Certificate of Incumbency: These documents verify that your company is in good legal standing and list the current directors and authorized signatories.

• Registered Agent's Trade License: A valid trade license of your registered agent is required.

• Top 3 Payers and Payees: A simple list of the names of the top three businesses you expect to pay and receive funds from.

• Completed KYB Profile: We will provide a "Know Your Business" profile for your agent to complete on your behalf.

Having these documents prepared in advance will ensure our compliance team can review and approve your application without any delays.