Hi Alexei,

Yes, UAE banks are still opening business bank accounts for Russian nationals, but applications are subject to much more detailed compliance reviews than before. The additional scrutiny is driven by international sanctions requirements and the banks' internal risk policies—not simply by the applicant's nationality.

Here's what banks generally look at during the review:

• Source of funds and wealth to ensure the capital comes from legitimate, verifiable sources.
• Ownership structure to confirm there are no links to sanctioned individuals or entities.
• Business activities and trading partners, especially if transactions involve higher-risk jurisdictions.
• UAE residency status, as applicants with a valid UAE residence visa and Emirates ID often have a smoother onboarding experience.

It's also common for banks to request extra documents, which may include recent bank statements, supplier or customer agreements, business plans, and additional identification documents. Because of these enhanced checks, account approvals can take longer than standard applications.

We recently worked with a Russian entrepreneur who established a UAE technology consultancy. The bank requested additional compliance documents regarding the company's ownership structure and expected international transactions. Once everything was verified, the account was approved successfully.

If you're planning to apply, my recommendation is to prepare a complete compliance file from the start and choose a bank that regularly works with international business owners. Being transparent about your business model and funding source can make a significant difference during the review process.