How to open a bank account in Dubai
The bank account in Dubai can be opened for your offshore or onshore company registered in Dubai or other Emirates of UAE (corporate account) as well as for the physical person – resident or non-resident of UAE (private account).
It is also possible to open bank account for foreign offshore or onshore company, (registered outside of UAE). Details – see account for foreign company.
Dubai bank account, UAE - opening without personal visit / presence
Some of the web sites indicate that it is possible to open a bank account in Dubai without personal visit to the bank. As according to the UAE Central Bank regulations the personal presence at the time of account opening is obligatory.
Opening the bank account in Dubai without such personal visit is the violation of this regulations and may result risks for the customer and for the service provider.
Exceptions are the cases of account opening in the private banking in Dubai whereby the customer may meet with the banker abroad or in the case of customer identification and signature verification in the foreign branch of the UAE bank.
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Dubai bank account, UAE - opening without visa (residency visa)
There is a number of forums and web sites which have different into on the issue if it is possible to open bank account in Dubai without UAE residency visa. And such info is often quite contradictive as some web sites say it is possible, some – it is not. Let's clarify this question.
The bank account in Dubai for a physical person without UAE residency visa is possible to open. However such account would have a couple of limitations – no cheque book can be issued and the credit card can be issued only under the condition of the respective security deposit at the bank.
Dubai bank account, UAE - opening without visa (residency visa) › Read more
Dubai bank accounts – cheques regulations
The bank cheques are the very common mean of payments in Dubai and other Emirates of UAE. The cheque books may be issued to corporate as well as private accounts in UAE. Important note – there is no possibility to issue cheque books for private accounts opened for the UAE non-residents.
Cheque books can be received by:
- Physical persons having residency visa in UAE.
- Onshore companies in Dubai and other Emirates of UAE under the condition that the company director has the UAE residency visa.
Dubai bank accounts – credit cards regulations
The credit cards are widely spread in Dubai and other Emirates of UAE and credit card payments are widely accepted practically in all places in United Arab Emirates.
The banks in Dubai offer all types of major credit cards whereby, if you do not have the constant income in UAE, in order to receive the credit card you would have to reserve some amount of money on your bank account as the security deposit for the credit card. The amount of such deposit on the account depends on the type of the credit card you apply and the monthly maximum limit on such credit card.
