Opening a Bank Account in Dubai is a question that many people, whether citizens or residents of the UAE, have searched for in order to learn the specific steps for opening their own bank account. In the following lines, we will explain how to open the account and what the complete procedure is that is provided by Tasyeir to enjoy all the benefits.
Opening a Bank Account in Dubai
United Arab Emirates is home to a vast number of international and local banks, due to the massive investment in the country.
Once you open a bank account in one of the banks in the UAE, you will enjoy many special services, such as obtaining a credit card, loan facilities, and expenses in accordance with Islamic law.
An individual account in Dubai
Opening an individual account in Dubai bank requires providing certain required documents.
The requirements vary from bank to bank and from the type of account desired to be opened, but generally, the basic documents required to open an individual account in a Dubai bank are:
- Valid passport:
A valid and long-term passport with a personal photo is required.
- Residence visa:
A copy of a valid residence visa for the investor or foreign resident must be provided.
- Personal photo:
Dubai banks require a recent personal photo.
- Residence address:
Bank requires a copy of an electricity bill, landline phone bill, or lease agreement.
- Previous bank account:
If you have a previous bank account in another country, you need a copy of the bank account and also a statement for at least 6 months must be provided.
- Proof of income:
Requirements for proof of income vary from bank to bank, but generally, the bank requires salary data, income certificates, and employment records.
- Trade license (for investors):
Investors need to provide a copy of the trade license issued by the Dubai Department of Economic Development.
Documents Required to Open a Company Account in Dubai Bank
Every company or institution that wants to open an account in a Dubai bank must submit a set of documents, including:
- Providing proof of the company’s commercial license to open the institution’s account.
- A commercial register for the company authenticated by the Ministry of Foreign Affairs for foreign companies.
- Submitting a document authenticated by the Ministry of Justice for the person representing the company.
- A list of the names of the board of directors and partners.
- Providing the board of directors’ decision.
- Submitting the company’s establishment contract.
- A certificate authenticated by the Chamber of Commerce in the UAE.
- Providing a valid passport document.
Advantages of bank account in Dubai
There are several advantages to opening a bank account in Dubai, including:
- Ease of access to the bank account:
Internet banking services and mobile banking apps are available to bank customers in Dubai, that making access to bank accounts easy and convenient.
- Easy international transfers:
Dubai is a destination for many foreign investors and residents, that making international transfers easy and efficient.
- Safety and security:
Banks in Dubai follow strict procedures for safety and security, providing multi-layered protection for bank accounts.
- Multiple services:
Banks in Dubai offer a variety of services such as personal loans, mortgage financing, savings accounts, and more, making them a comprehensive option.
- Access to financing and investment:
Dubai Banks offer opportunities for financing and investment in accordance with local and international laws and regulations.
- Economic stability:
Dubai enjoys economic and political stability, that making it an attractive destination for investment and opening a bank account.
It should be noted that the available advantages may vary among different banks. Therefore, foreign investors and residents should research and compare the different banking services before making a final decision.
United Arab Emirates includes a large number of local and international banks, distributed throughout the country.
Tasyeir leading company in the field of administrative transactions
Tasyeir is considered one of the best companies that assist in opening a bank account in Dubai with utmost ease and convenience within a short period of time. This helps meet the financial needs of individuals and companies as quickly as possible, allowing them to enjoy all banking services.
