Documents Required to Open Company Bank Account
Nov 2, 2024
There are over 10 banks in Saudi Arabia. Accounts can often be opened online for single-owner or single-shareholder companies. However, some banks may require an in-person visit for signature verification.
Most banks require the following documents:
1. Commercial Registration(CR) Arabic & English
2. MISA Digital License
3. Articles Of Association (AOA)
4. Activity List Arabic & English
5. Company National Address
6. Owner’s / Shareholder’s Iqama ID
7. Owner’s / Shareholder’s Passport ID
8. Owner’s / Shareholder’s National Address
9. Company Stamp with CR Number (Asked by some banks)
Requirements might vary from bank to bank.
CR and AOA, Activity Lists can be downloaded from the Saudi Business Center Portal
The MISA Digital license can be downloaded from the MISA Portal
How long does it take to open a bank account?
It can take anywhere between 3 working days to 2 Weeks, depending on the
Complete the required KYC of the founders from the bank.
A useful tip is to open a personal bank account at the same bank where you plan to open your corporate account. This often speeds up the KYC process.
Almost all banks in Saudi Arabia allow personal bank accounts to be opened online. Some banks like Alinma, SAB, Riyadh Bank also allow opening company bank account online:
Here are lists of different bank accounts in Saudi Arabia.
Alinma Bank
https://www.alinma.com
Saudi National Bank(SNB) / AlAhli Bank
https://www.alahli.com
Saudi Alawwal Bank (SAB)
https://www.sabb.com
Bank Albilad
https://www.bankalbilad.com
Al Rajhi Bank
https://www.alrajhibank.com.sa
Riyad Bank
https://www.riyadbank.com
Banque Saudi Fransi
https://www.alfransi.com.sa
Arab National Bank (ANB)
https://www.anb.com.sa
Bank AlJazira
https://www.bankaljazira.com/en-us
