Bank account in UAE

How to open bank account in UAE?
If You decide to start business in UAE or arrive as an emoloyee, You need a bank account to ensure Your settlements and everyday financial operations.
Both personal and corporate (business) bank accounts can be opened in UAE.
Bank account for UAE resident. If You are a holder of a residence visa it is not complicated to open an account. To become a resident, You need to establish company in UAE and apply for resident visa. The documents required to open personal account for resident:

  • a passport,
  • Emirates ID,
  • salary certificate (for employee),
  • personal bank statements, or proof of the source of funds in the case of an investor visa.

Corporate bank account
It is account for Your company needs, to make Your business payments and receive payments from Your partners. Therefore company documents required to open such account. These are:

  • Company establishment documents (incorporation certificate, shareholder certificate, articles of association, and memorandum of accosiation, licence)
  • Passports and visas of all shareholders‘
  • Utility bills to proove address
  • Certificate of incumbency
  • Description of business activity
    Filling bank questionnaire You have also give information on planned annual turnover and initial deposit on bank account.
    Famous banks in UAE
    Some banks have a requirement to a minimum salary You ought to receive to open bank account, other requires minimum balance freezed on account in certain amount. Anyhow, there are plenty of banks in Dubai, that You can choose from to start cooperation. The most famous banks in UAE:
  1. Emirates NBD.
  2. First Abu Dhabi Bank (FAB)
  3. Standard Chartered Bank
  4. Abu Dhabi Commercial Bank (ADCB)
  5. Mashreq Bank
  6. Dubai Islamic Bank (DIB)
  7. RAK Bank.

Bankl account for non-residents
For non-residents it is much more complicated. You must visit the bank in person and provide such documents:

  • Passport
  • Utility bill
  • Personal bank statements for 6 month period
  • CV
  • Information abount sources of income.
    Bank examines Your application longer and there is a big risk of being denied. We recommend to get residence in order to be sure in success.