Bank accounts

Bank accounts

Businessmen who want to place their funds in a reliable and affordable place for servicing usuallly choose UAE banks.

Of course, when you hear that such a reliable and organized financial system, as in the Emirates, allows to open a bank account to people who are not related to the UAE, this is at least surprising. However, you can find banking institutions in the Emirates that will help you with it. It is worth noting that there are some conditions for such operations.

    •  Opening an account in Dubai by persons with a residence permit (residents);

There are several ways to obtain a residence permit: registration of a local company in the FEZ or outside the FEZ, official work or the purchase of real estate in the amount of 1 million dirham ($ 270 thousand). In this case, on the way to open an account in any bank in Dubai, you will not have any obstacles.

All what is required for persons holding a residence permit is to pass all the necessary requirements and to arrive at the appointed time at the banking institution. After signing the contract, banking institutions will offer not only a debit card, but also a credit card or checkbook.

How to increase the chances of opening an account in Dubai if you are a non-resident?

It is worth noting that not many banks are ready to continue the dialogue on opening an account if you do not have a residence permit in the UAE. If there is a full package of documents and everything is fine with them, but there is no resident visa, then an account opening will be denied.

There is a great opportunity for residents to open an account in the UAE with a high percentage and low cost of service.

    •  Opening an account in Dubai for companies in the UAE;

Bank accounts for legal entities are opened in UAE banks upon provision of a package of required documents. Such documents will include standard documents: copies of passports, visas of founders, founding documents and agreements, as well as additional references or recommendation letters from banks that served the founders of the company earlier.

Bank accounts in the UAE can be opened for local companies (mainland companies), companies in Free Economic Zones and offshore companies. The procedure for issuing an account will not cause difficulties, however, it is worth noting that banks have new requirements for companies, which may be an obstacle to opening a bank account in the UAE.

If you decide to open a corporate account in UAE banks, we highly recommend to contact a specialist. Professionals will select a bank that will meet all your requirements, help in collecting all the necessary documents, help you and your company make an impression and will present you from the most beneficial side for the bank.