How to open a bank account in Dubai (UAE)
Depending on whether you are opening a personal or corporate account, the requirements for the applicant and the set of required documents differ.
Both local and foreign companies that are registered in the country can open an account in Dubai. In addition, free economic zones with special tax and customs regimes – FEZs - operate on the territory of the country.
Foreigners are allowed to do business here without the participation of a local partner. In these zones, there is no VAT, customs duties and corporate tax for up to 50 years after starting a business. Most of these zones are located in Dubai.
To open a company's checking account, you will need:
- A resident visa and an electronic certificate of a resident of the UAE for all founders and directors with the right to sign or a mark of entry into the Emirates.
- The founding documents of the company.
- The founder's resume and the company's resume.
- Confirmation of authority to open an account.
- Confirmation of the legal address.
- The statement of the company's account, and for the new company – the accounts of the founders.
Possible problems and nuances
- There are restrictions on opening an account for non-residents. UAE banks often refuse to open accounts. In order for you to open an account, you will need to undergo a serious check.
- A mandatory requirement for most UAE banks is the presence of a real office in the country, which is leased under a contract and registered with the Dubai Land Department. At the application review stage, the bank will conduct an audit by visiting your office to make sure that you are really conducting your business.
- All banks have a KYC system, which requires an answer to all questions posed by the bank and the provision of all documents requested by the bank. In this way, financial organizations better control transactions and minimize risks.
- Most often, banks refuse to open an account due to incomplete documents, lack of confirmation of the origin of funds, blocking of other accounts, violation of the limit.
Why Nobilis?
We will guide you through each stage and ensure you have a hassle-free experience
We will help you prepare
all the documents
all the documents
We give guarantee approval
in our contract
in our contract
We follow you personally
to meetings with the bank
to meetings with the bank
We save your time
We have connections
with all major banks UAE
with all major banks UAE
Your personal discount is here
Fill out the form and get a personal 30% discount on our services
By clicking the "Get Discount" button, you accept the terms of use and agree to the privacy policy
