Ahmed Al-Sudani was arrested at a medical centre at Arncliffe, in Sydney's south, on Friday after reports of two sexual assaults the previous month.
NSW Police allege the 45-year-old doctor sexually touched a 28-year-old woman during a consultation on June 4.
The Monterey man is also accused of raping a 19-year-old woman during a consultation on June 26.
Two interim apprehended violence orders have been taken out on behalf of the complainants.
Al-Sudani appeared at Sutherland Local Court on Friday, when he was granted bail after promising to pay $1 million if he breached any conditions.
He has agreed to pay a $200,000 deposit to the court towards the sum.
The 45-year-old has been barred from acting as a medical practitioner and has been ordered to hand over his passport to police.
His release has been postponed until Wednesday to give prosecutors time to potentially appeal the bail decision in the NSW Supreme Court.
According to his online profile, Al-Sudani has 17 years of experience in medicine and has been working as a GP in Australia since 2011.
The matter will next come before Downing Centre Local Court on September 10.
1800 RESPECT (1800 737 732)
National Sexual Abuse and Redress Support Service 1800 211 028
