Bank account introduction in UAE

The financial sector of the United Arab Emirates is one of the largest in the Persian Gulf region and has an impeccable reputation. Due to the high requirements for such institutions and their state capital, the banks of Dubai and the UAE are on the list of the most reliable financial institutions in the world. There are some other important advantages of the banking system in the Emirates: lower tariffs for services, simplified reporting system, high quality of services and loyalty to customers. Almost all banks of the United Arab Emirates provide the possibility of remote access to accounts via online and mobile applications.

At the moment, banks provide an opportunity to open accounts for individuals and legal entities. It is also possible to open an account for non-residents of the UAE. Our company will help you to obtain a bank account in the UAE. We will choose the most suitable bank and collect all the necessary documents to open the account as soon as possible. In case your bank account application has been denied in the UAE, our company will help you solve this problem.

Opening a bank account for individuals

There are no formal restrictions for individuals to open bank accounts, but there are some requirements to be met. The key point here is that the legal age in the UAE is 21 years old. That is why, the person managing the account should be older than 21. There are also subtle aspects when opening an account for residents and non-residents of the country.

Bank accounts for non-residents of the UAE

If an individual does not have a resident visa, for example, residing in the country with a tourist visa, the opening of a bank account may involve some difficulties and the identity of a potential account holder can be subject to a more thorough examination. Some banks may refuse to open an account, and if it is opened, it may have some certain limitations. In particular, it will be impossible to use a checkbook and qualify for a loan, but other services will be available.

  • the original and a copy of the international passport with a stamp certifying the entry into the territory of the UAE;
  • a copy of the visa;
  • personal bank account statement for the period of 3 months prior to the date of application;
  • a brief CV;
  • utility bill receipt from the place of permanent residence;
  • the bank may require additional documents in certain cases.

All documents must be in English (our company can help you with the translation and legalization of documents). Your personal presence in the bank is also required.

Bank accounts for residents of the UAE

If you are a resident of the UAE, you can open an account in almost any bank in the country. Depending on the bank, the account opening procedure will take from several days to several weeks. There are no restrictions in using the account. You can get a credit and debit card, checkbook, as well as online banking.

  • the original and a copy of the passport;
  • a copy of the resident visa;
  • a copy of the license (for business owners);
  • salary confirmation or an employment contract (for employees).

All documents must be in English (our company can help you with the translation and legalization of documents). Your personal presence in the bank is also required.

We will help you open a bank account with ease!

+971 5 02238 997

Bank account opening for legal entities

In the United Arab Emirates, it is possible to open corporate accounts for companies incorporated both in the UAE and abroad, although local banks do not welcome opening accounts for legal entities that are not incorporated in the UAE.

Bank accounts for companies registered in the UAE

Opening a bank account for such companies is a simple and straightforward process, provided that the shareholders have all the necessary documents for the company, as well as their personal documents.

Bank account for companies that are not registered in the UAE

This procedure is possible if the incorporation documents are certified in the consulate of the UAE in the country of incorporation (if there is no consulate in this country, the documents are subject to certification at the nearest UAE consulate in another country) and the Ministry of Foreign Affairs of the UAE.

  • a scanned copy of the valid passport and visa (300 DPI, color). The passport copy must be signed by the passport holder on the front page;
  • the current license and its copy;
  • authorization of the signature (if there are partners).

In order to open an account it is necessary to fill in the bank forms, as well as a form for online banking access. To open a corporate bank account in the UAE, the director must visit the bank in person and provide the bank officer with his or her passport.

We will help you open a bank account with ease!

+971 5 02238 997