Open Bank Account in UAE
Banks Account opening has various requirements in terms of documents, minimum balance requirements, and specialization in certain sectors among others. The approach can Bank Account Opening Assistance in Dubai vary depending on the case. Based on the requirements and preferences of our clients, we will provide them with an inventory of suitable and reliable banks.
- Non-reportable bank account
- Cheque book
- Any bank facilities
- Online banking
- Debit and credit cards
- Dedicated Account Manage
- Reportable to the jurisdictions of the owners’ tax residency
- Takes more time to open
- Limited in bank facilities
- Limited in online banking
- Not allowed for issuing credit or debit cards
- Extra secured and have the highest privacy level
- Allow 100% repatriation of capital and profits
- Fast to open
- Can be opened without UAE Residence Visa
- Have no currency or funds transfer restrictions
- Have user-friendly online banking system
- Not eligible for cheque books, credit or debit cards and ATMs
How to Open Bank Account?
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At Cosmo we are assisting clients to open all types of personal and corporate accounts in UAE, strong knowledge about the Top UAE Banks and serve our Clients to meet all the requirements for a successful opening of a Bank Account in the UAE.
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Why to Choose UAE Banks?
Full exemption from taxation of interest
Innovative Banking Facilities
Best Modern Online Banking
UAE ranked World's 2nd safest country
Dedicated Relationship Manager
No currency exchange regulations
Economic Stability 1 USD = 3.6725 AED since 1997
Multicurrency Bank Accounts
Can foreigners open the Personal Bank Account in UAE?
Yes, as the foreigner you can open a Personal Bank Account in UAE. Most of the banks in Dubai/UAE require min AED 100,000 (USD 27,249) as the monthly average balance to open a Non-Resident Personal Bank Account in Dubai/UAE.
What are the required documents to open the UAE Resident Personal Account?
- Emirates ID
- Passport copy
- Valid UAE Residence Visa
- Utility Bill issued within last 3 months for your UAE residential premises, rented or owned
- Salary Certificate from employer or contract with the employer (for employees). For investors, it should be the latest corporate document, showing ownership in the company
What are the required documents for opening a Non-Resident Personal Account in UAE?
- Passport Copy
- Proof of address issued within the last 3 months
- Document proving the source of the applicant’s income (it can be the latest 3 months personal bank statement or corporate bank statement which applicant owns).
Make your application process hustle-free and hire a Professional Business Consultant when applying to the UAE Non-Resident Bank Account. Contact My Business Consulting DMCC for free expert advice.
Can I have two bank accounts with different UAE banks?
Yes, you can have as many bank accounts as you like in different UAE banks. There are several reasons to have more than one Bank Account. You can check the benefits of having an alternative corporate bank account in one UAE banks for your company in our expert blog.
How long will it take to open the Corporate Bank Account in UAE?
It will take min 3 weeks to open the Corporate Bank Account in UAE, but in the case when signatory is UAE resident. It applies different timings in each specific case.