Opening a company bank account in Saudi Arabia is a critical step after registering your business. Several banks support corporate accounts and may allow the process to be completed online for single-owner or single-shareholder entities. However, in some cases, a physical visit may be required to verify authorized signatures.
Most banks require the following documents for opening a corporate bank account:
- Commercial Registration (CR) in Arabic and English
- MISA Digital License
- Articles of Association (AOA)
- List of Business Activities in Arabic and English
- Company's National Address
- Iqama ID of Owner or Shareholder
- Passport ID of Owner or Shareholder
- National Address of Owner or Shareholder
- Company Stamp showing the CR Number (required by some banks)
Note: Requirements may vary slightly depending on the bank. CR, AOA, and activity lists can be downloaded from the Saudi Business Center Portal, while the MISA Digital License is available from the MISA Portal.
The time required to open a business bank account in Saudi Arabia ranges from 3 business days to 2 weeks, depending on the bank and the speed of Know Your Customer (KYC) verification.
A recommended tip: If possible, open a personal bank account in the same bank before applying for a corporate account. This can simplify and accelerate the KYC process.
