Opening a bank account in Dubai
For companies that are based outside of Dubai and are in need of banking services for business transactions; opening a bank account in Dubai has never been easier. There are many websites that can tell you how to open a bank account in Dubai.
There are certain conditions that you need to fulfil to be able to hold a bank account in Dubai. The two most important ones are that the person should be able to provide the necessary documentation proof of their identity, the nature of their business and the kind of transactions that they wish to make with this bank account. These requirements vary for different UAE banking authorities. One should choose the bank that best meets your needs and offers the most convenient banking solutions for all kinds of issues. Only then shall you be able to get the best business bank account in Dubai. It is important to keep these things in mind when opening a bank account in Dubai. If you're still not sure how the whole process goes, you should check one of the many great tutorials available online that teach how to open a bank account in Dubai.
There are a large number of both local as well as foreign banks in Dubai. They offer a multitude of services. From basic banking services to specialised bank favors, you can get whatever you want provided you make the right moves.
Corporate loans, business lease, private services and many other problems and issues can be addressed by the best business bank account in Dubai in this way.
How to open a bank account in Dubai remotely?
Opening a bank account in Dubai for non residents
According to many online tutorials that teach how to open a bank account in Dubai for non-residents, it is possible to establish a bank account without a resident visa only if the person is present in UAE to complete the task. There are certain limitations that are imposed on opening a bank account in Dubai for non residents. No check-books shall be issued to the account holder and the option of credit card is available only if the person makes a security deposit in the account first. Apart from these two changes, bank account in Dubai for non-residents is the same as a regular bank account. So, you can say that in all other respects, opening a bank account in Dubai for non residents is just like opening a regular bank account. These details shall remove all questions that people have on how to open a bank account in Dubai without residency visa.
Check regulations for a bank account in Dubai
- Persons who have resident visa of UAE and who are capable of visiting the bank in person to set up the account
- Onshore companies operating in Dubai or other parts of the UAE provided the company executive or owner has a resident VISA
It is imperative that issued bank checks not be bounced. The best business bank account in Dubai is the one that has enough money to cover for the check. Bounced checks can lead to serious consequences because UAE has strict laws to deal with fraudulent transactions.
Credit card regulations for bank accounts in Dubai
There are certain restrictions when it comes to getting a credit card. One of them is the clause that demands that the bank account holder place sufficient money in the account as a security deposit before applying for the credit card. It is a kind of guarantee that the bearer is capable of fulfilling the credit card expense. The amount of money needed for the security deposit largely depends on the kind of credit card you are applying for along with its monthly limit.
Debit card rules are regulations for Dubai bank accounts
For individuals (residents as well as non-residents of UAE) and onshore companies operational in Dubai or any other Emirate of the country, bank accounts come with debit cards equipped with ATM facility. This allows for easier transactions, access to instant money and the ability to withdraw money anywhere whenever it is needed.
Offshore companies based in UAE or any other Emirates are not issued any debit card.
You can set your debit card limit by defining the daily/monthly transactions that you make with it. Also, it is not possible to withdraw more than the amount of money that is present in your bank account.
Rules and regulations about online and internet banking in Dubai bank accounts
You can not only check your current balance in your account but can also make online transfers to other accounts very easily. Many internet banking portals allow clients to pay their utility bills, landline bill, mobile carrier service charges, house rents and other liabilities online. You can also put in requests for certain banking services online such as insurance policies, or details on leasing and loans. All these facilities and many more are available to the best business bank account in Dubai.