Bank Account Opening

Bank Account Opening in Dubai

A personal bank account is an account for use by an entity for that person’s own needs. Personal bank account in Dubai belongs to one’s account at the bank that is used for non-business purposes.

An individual- resident in Dubai or non-resident in Dubai is also suitable for a private/ personal bank account in Dubai. Most of the banks in the Dubai UAE permit non-residents to open only a Savings Account and not a Current Account. Non- residents are not able to attain a checkbook however, non-residents will be given a debit card to withdraw the money. As a non-resident will be subjected to a minimum and/or maximum balance.

Conditions & Requirements for opening a personal bank account in Dubai for non-residents as follows;

  • Applicant presence is mandatory in Dubai/UAE
  • Passport copy with UAE entry page
  • Profile of the applicant (CV)
  • Original bank reference letter from the personal / company bank account of the aspirant from the country of origin or anywhere in the world (requirement varies bank to bank . mentioned document is advisable)
  • Original latest six months personal bank statement from the country of origin or anywhere in the world.
  • Most of the banks in Dubai / UAE requires the monthly average balance to open non -resident personal account in Dubai / UAE and it varies depends on the bank to bank.

Corporate Bank Account opening in Dubai

Dubai is one of the dominant investor’s friendly business hub in the world. In all business, hassle-free financial deals are playing a vital role in business growth.  Bank account in Dubai grants the investors and companies very customer friendly and hassle-free services once the aspirant meets apt requirements by the banks. Company bank account in Dubai process is an easy task if you know the right documentation and KYC requirements of the banks. At the time of the company account in Dubai, the bankers may ask further questions or supporting documents to open the bank account. So it’s very crucial to respond in this information by the applicants. We RVG Consultants can mentor you on KYC requirements, preceding to starting the bank account opening in Dubai and it makes easy documentation process to the applicants.

Documents Required for corporate Bank Account in Dubai

  • Copy of trade license
  • Copy of MOA/AOA
  • Copy of share certificate
  • Copy of Incorporation Certificate
  • Copy of passport with UAE entry stamp page of stockholders
  • Copy of Emirates ID of stockholders (if the shareholders having UAE residency)
  • Copy of Visa page of stockholders (if the shareholders having UAE residency)
  • List few prospective clients / or existing clients (suppliers/ buyers)
  • Copy of last 6 months bank statement of the stockholders
  • Copy of utility bill of the stockholders showing the proof of address

RVG Chartered Accountants can assist companies and investors to set up a company in Dubai and bank account opening for the companies. We also assist in preparing of bank account opening application forms and introduction of bankers & fixing appointments. For more details on the bank account opening process in Dubai, Consult with our banking account opening advisers. Call us + 971 48866844

 

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