How to open a bank account in Dubai for individuals
Economic stability of the United Arab Emirates plays an important role for the reputation of its financial institutions which are widely recognized as ones of the most secure in the world. According to statistics data about the general economic situation in the world, UAE banks and financial funds considered to be one of the safest places in the world for investments, keeping cash assets and the best place for implementation business ideas. More and more businessmen prefer to open bank account in Dubai (UAE), while at the same time financial institutions in UAE open their doors for new clients, offering them favorable conditions and providing them with best services.
If you would like to open bank account in Dubai or any other Emirate of the UAE, our experienced consultants will help you to open a bank account in Dubai (Individual or corporate) within the shortest period of time and any bank of the UAE on your choice. In this article you can find more detailed information about how to open a bank account in Dubai or any other Emirate of UAE for private banking. If you are interested in information about corporate bank account, please check our other articles accordingly.
It is important to notice, that there are some specific terms and conditions applied in order to open Dubai bank account for individuals, however in general it is quite easy procedure.
It is allowed to open bank account in Dubai (UAE) both for UAE residents and non-UAE residents. However, non-UAE residents have several extra conditions:
- Non-UAE resident bank account holder can get a credit card only after putting security deposit on his/her account
- No checkbook is available
However, non-UAE resident bank account holders can have the following same benefits as residents:
- Debit card for ATM payments and other financial operations all over the world
- Online banking
How to open a bank account in Dubai, requirements, terms and conditions
There are certain standard requirements which are applicable to anybody who wants to open a bank account in Dubai, UAE:
- All application forms and registration documents should be signed by the applicant personally in presence of bank representative
- Original copy of passport is required for personal identification
There are additional requirements for non-UAE residents:
- In order to open Dubai bank account in UAE for a non-UAE resident applicant, he/she should present a copy of the passport page with entry stamp
- proforma-invoice or receipt of public utilities payment (phone, electricity, water, etc.) in order to prove person identity of the applicant and place of his/her residence registration
- bank statement of an existing account from any other bank. Sometimes, UAE bank can require Reference Letter to be attached to the statement.
- Curriculum Vitae of the applicant
Main requirements for UAE resident applicants to open bank account:
- Applicant Visa Copy
- Emirates ID Copy
- In case the applicant is on father's or husband's visa - NOC from the sponsor that he/she does not mind if the applicant will open a bank account in Dubai, UAE
Apart from all requirements mentioned above, a bank can request some additional documents. The final list of the documents varies individually. If you would like to open a bank account in Dubai, our consultants will help you and explain you how to open bank account in Dubai in the shortest period of time with a minimal cost considering your preferences.
How to open bank account in Dubai with online banking option?
The UAE bank system offers its account holders an easy and fast way of managing their accounts through internet. Online banking became a useful tool in a modern financial world which facilitates a lot of services. UAE online banking offers its customers a possibility to conduct most of their financial operations online – starting from utility payments and up to transfer of monetary assets on the accounts of other banks. Moreover, it is important to mention that online systems of UAE banks are highly secured and protect its customers from frauds. One of the main benefits of online banking is a possibility to control your bank account from anywhere in the world.
If you open Dubai bank account, almost all the banks will automatically provide you with online banking option, regardless your residency.
Our company is an officially registered business consultant on the territory of UAE. Our specialists can provide you with the best consultancy services and explain you step-by-step how to open bank account in Dubai for individuals. We will also help you to choose your bank according to your requirements and preferences. In order to get more detailed information about how to open a bank account in Dubai or any other Emirate, please send us online request or call us (phone/Skype), and our professionals will answer all your questions.