25 Feb How to Open a Bank Account in Dubai
A personal bank account is an individual account that is used for the personal needs of that individual. Dubai’s personal bank account refers to one’s account at the bank used for non-business purposes.
Also eligible for a private/personal bank account in Dubai is an individual resident in Dubai or a non-resident in Dubai. Most of the Dubai banks allow non-residents to only open a Savings Account and not a Current Account. Nevertheless, if non-residents are unable to obtain a checkbook, a debit card will be issued to non-residents to withdraw the money.
opening a personal bank account in dubai for non residents
- 1. Applicant must be present personally.
- 2. Complete the profile (CV) of the applicant.
- 3. A copy of a passport having a UAE entry page.
- 4. Original personal bank statement from the country of origin or anywhere in the world, of the latest six months. ( If the applicant posses only a company account or is the owner of a company within UAE or outside, both the legal documents proving the ownership, as well as the latest six-month banking statement, should be available).
- 5. The applicant must produce an original banking reference whether of the company or personal account from his original country or any part of the world (Conditions may vary from bank to bank, however, it is advisable to have the document).
- 6. Banks in UAE require one to maintain a certain amount of balance in the account for a non–resident to open a personal banking account, the procedure may vary from bank to bank.
Corporate bank account in Dubai
Procedure to be followed for Dubai to open a company bank account or corporate bank account in Dubai. Dubai is one of the world’s leading business centers for amicable investors. Free financial transfers play a vital role in business growth in all sectors.
Bank account in Dubai provides very customer-friendly and trouble-free services to investors and companies once the applicant meets the banks ‘ appropriate requirements. Business bank account in Dubai process is an easy task if you know the banks ‘ proper paperwork and KYC specifications.
During the account duration in Dubai, bankers can ask additional questions or supporting documents to open the bank account. It is therefore very important for the applicants to reply in this detail. We Shuraa Business setup Consultants can provide you with advice on KYC criteria before opening a bank account in Dubai and make it easy for applicants to register.
Documents needed for opening a corporate banking account in Dubai.
- Copy of MOA/AOA.
- Trading license.
- Share certificate.
- Passport with UAE entry page of shareholders
- Incorporation certificate
- Emirates ID of shareholders (In case shareholders have UAE residency)
- Visa page of shareholders(In case shareholders have UAE residency)
- Name of existing or prospective clients (suppliers/buyers)
- Banking statements of shareholders dating back to the last 6 months
- Utility bill of shareholders showing address proof.
- Corporate legal documents and bank statements (In case of a shareholder has a company outside UAE)
Note: The normal documents required/requested by bankers during the opening of the corporate bank account in Dubai are the above documents. Besides the documents and details mentioned above, bankers might ask for further clarity on transactions or invoices, or contracts.
The applicants will be told by the bankers when they need additional documents or information about the opening of bank accounts in Dubai.
We Shuraa Business setup CONSULTANTS will assist companies and investors in setting up a Dubai business and opening companies’ bank accounts.
We also help in the preparation of application forms for bank account opening and in the process of introducing bankers & fixing appointments.
Opening your company’s bank account?
Do you want assistance with opening your company’s bank account? We’ve got you covered, for your company you need a bank account to do trouble-free transactions in Dubai.
The UAE boasts a stellar banking system known around the world for its outstanding customer service. We Shuraa Business setup consultants can help you with a bank account to shape Dubai Company.
We are helping you open bank accounts in domestic banks. In general, business owners are ignorant of domestic and international banks.
We Shuraa Business setup Consultants help them open a bank account in Dubai. We have already helped many entrepreneurs and businessmen to open a bank account in Dubai.
We also support the owners of companies in managing bank accounts. We Shuraa Business setup Consultants provides its clients a wide range of services regarding the opening and management of bank accounts.
We have a team of qualified professionals who can recommend the bank that suits your business needs to the full. Our services are going to save you precious time.
Benefits you will get when you choose to open a bank account in Dubai
- Your account remains confidential
- Safe and reliable banking services
- Your account will require low upkeep costs
- Online banking services will be provided
- Easy withdrawal and deposit of money
A business owner can’t get enough advantages from the Dubai banking services. You’ll need to follow a procedure to verify your identity to open a non-residential bank account in the UAE.
You will also need to provide the bank executives with some papers. We guide you throughout this process and make sure you get the bank’s best services. For more information on the opening of bank accounts in Dubai, contact our bank account opening consultants.
Why Should You Get a Business Account in Dubai?
- Tracking Expenses
- Cash Flow
- Calculating the Tax
- Business Loan
- Card Payments
- For Professionalism
- Accurate Book-keeping
Features and Benefits of Business Account in Dubai
- Purchasing Power
- Minimum Account Balance
- Interest Rate
- Cheque Book Facility
- Online Access
- International Remittance
- Multiple Currency
Best Banks for Business Accounts in UAE
- Dubai Islamic Bank
- Abu Dhabi Islamic Bank
- Mashreq Bank
- RAK Bank
- Commercial Bank of Dubai