An individual using a bank account is a personal account to meet personal needs. In Dubai, a personal account is used for non-business purposes.
In Dubai, an individual-resident or a non-resident is qualified for a personal/private bank account. Most banks allow non-residents to have a bank savings account. The non-residents are given a debit card for money withdrawal and are expected to have a proper balance.
Requirements for personal bank account opening in Dubai for non-residents:
- Applicants profile
- Passport copy with entry page of UAE
- Presence of applicant in Dubai/UAE is mandatory
There is also a need for a reference letter of the applicant from the company/personal bank account. This letter should be from the origin country or anywhere else in the world.
Latest bank statement for the last six months from the origin country or any place in the world. In case the applicant has one owner of the company who is inside the UAE or has only one company account, the bank statement for six months with legal documents is enough to prove his share.
Most of the banks in Dubai require monthly average balance for a non -resident personal account in Dubai and it differs from bank to bank.
How to Open Bank account in Dubai / Corporate Bank Account in Dubai
Dubai is investor-friendly and offers hassle-free transactions promoting business growth. The bank account in Dubai gives companies and investors hassle-free services and customer friendly services as the applicant meets bank’s requirements. The bank account in Dubai is an easy task.
You need to support documents to open a bank account. It is crucial for the applicants to give the required information so that the process of documentation is easy.
Corporate Bank Documents Required to open an Account in Dubai
- MOA/AOA copy
- Trade license copy
- Share certificate copy
- Incorporation certificate copy
- Passport copy with UAE entry stamp
- Emirates ID copy of shareholders, if they have UAE residency
- Visa page copy of shareholders
- Bank statement of last 6 months of shareholders
- Utility bill of shareholders with address proof
- Prospective or existing clients list
These are the regular documents required by the bankers to open in Dubai a corporate account. Bankers may ask for more clarification if there are transactions done on contracts or invoices. The applicants will be requested to support further documents while they are