Opening a personal bank account for expats in the UAE
Find out how to setup a personal bank account in the UAE below!
Why open a personal bank account in the UAE?
If you are thinking to relocate yourself, or at least your assets abroad, you should definitely consider the United Arab Emirates! First of all, it is one of the few countries where setting up a personal account for non-residents is possible! Further, with a personal bank account in the UAE you will also benefit from high confidentiality and security of your assets as well as attractive interest rates for savings and deposit accounts.
Who can apply for a personal bank account in the UAE?
Generally, anyone can apply for a personal bank account. No matter if you are a citizen, foreign resident or even a non-resident of the UAE. If you are a non-resident though, you have to keep in mind that your presence at the bank will be required. So a trip to the UAE to finish the personal account setup will be inevitable.
How to apply for a personal bank account?
Every bank in the UAE, even the international branches, fall under the regulation of the Central Bank of United Arab Emirates. Since over the past few years regulations have gotten more strict, the process of setting up a personal bank account has become more tricky and time-consuming.
There are many great banks to choose from in the UAE. It can be quite an overwhelming process, trying to find the perfect bank to suit your every need. We will be happy to assist you with the setup of your personal bank account and find the right fit for you! Contact us now!
In general, to apply for a personal bank account the following documents will be required:
- Copy of your valid passport
- Original copy of your bank statements for the past six months
- Proof of address document
- Residency visa and emirates ID
Remember that each bank establishes their own requirements and may request additional documents.
You may also want to consider the following:
- How to start/relocate your business to Dubai?
- How to sponsor yourself/your family?
- How to apply for a visa and which one to choose?
- How to buy/rent property in Dubai without being scammed?
- How to register for tax with the local authorities?
- How to benefit from tax exemption?
- How NOT to spend a fortune on all of the above?
Just leave the bureaucracy to us!
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