Opening a personal bank account in UAE is just like opening any other account. Why should banking services be any different when most items are accessible for home delivery in a nation that has made luxury into an art form? 

Simply give them a call after you have your resident visa, then sit back and let them send a representative to your house or office.

The UAE is frequently associated with money, bank accounts, and tax systems due to its reputation as a “tax-free” nation. 

Citizens from all over the world migrate to the desert nation to either work for a UAE-based company or launch their own business, and it is understandable why People working in the UAE are able to save more money than they would in the majority of their home countries since there is no income tax.

How to Open a Bank Account In UAE

You must first be in the UAE if you want to learn how to open a bank account in UAE there as a non-resident. According to UAE law, account holders are required to physically show up at the bank to verify their identification and sign paperwork.

The only option to open an account without being physically present is to visit your local branch of a major international bank that conducts business in the UAE, such as HSBC or CitiBank.

Dubai also permits you to hire financial officers to attend on your behalf, but not all banks accept this.

In the United Arab Emirates, there are four different kinds of banks:

  • Commercial: locally founded banks and outposts of foreign banks that provide commercial banking services; these institutions lend money for business activity, disperse loans, and oversee the accounts of people and businesses.
  • Industrial: offers loans to people and enterprises primarily for growth objectives; this can include a loan required to launch a business. merchant/investment: engaged in the purchase and sale of stocks
  • Islamic: financial institutions are those that follow Sharia law.

Opening a Bank Account with a Residency Visa Requirements

You can open a personal or corporate bank account in UAE once you have your residency visa. A current account is another name for a personal bank account. Similar to the savings account, each bank has its own requirements, although the following documents are typically needed to start a bank account:

  • Your ID and visa for residency in the UAE (original and copy)
  • Your ID from Emirates (original and copy)
  • A letter from your employer stating your salary, an original trade licence if you are self-employed, or your spouse’s labour card/work ID (original and copy) if you are sponsored by them. 
  • Also required is proof of residency in the UAE, which can be a rental agreement, utility bill, or letter of employment.

Banks additionally demand that you deposit a specific sum in order to open an account in addition to these papers and a minimum salary to open a bank account in Dubai. In the UAE, banks often demand between 3,000 and 5,000 AED (820–1,360 USD).

A bank account in UAE can be opened quickly and easily. Within a few hours, you should have access to the account. In Dubai, it is typical for banks to offer financial representatives who will make house calls if you don’t want to leave your house. If this is a service you’re interested in, inquire with your desired bank.

Can a foreigner open a bank account in UAE?

There are ways for foreigners to open their bank accounts because the bulk of Emiratis are ex-pats. Yes, in a nutshell, however, there is an important differential that will affect where you may bank and what kinds of accounts you can open. Your residency status in the UAE is as of now.

Why is the issue of domicile relevant when deciding whether to set up a line of financial products?

That’s because the majority of banks demand that you show your passport, copies of your passport photo, and a letter of approval from your employer or the party who is sponsoring your visa. 

The second of these prerequisites means that you must be a UAE resident to create a foreign or offshore bank account. You’ll discover, though, that some financial products are only available to locals.

Requirements For Opening a Bank Account as a Non-Resident

The question always arises with Expats without residency how to open a bank account in UAE for non-residents. A chequebook is not typically provided with this account. The majority of financial institutions will instead provide ATM cards so customers can withdraw cash while they wait for their residency visas.

Although each bank has its own requirements for opening an account, generally speaking, the following papers are required:

  • Passport with the UAE entry stamp (original and copy);
  • Passport photo;
  • Completed application form;
  • Proof that your residency visa, or Emirate ID card, is being processed;
  • Document stating your employer’s name and salary details;
  • Letter of recommendation from the previous bank;
  • Letter of No Objection from either your sponsor or employer.

You can be bound by a minimum or maximum balance if you’re a non-resident. Keep in mind that the amount is frequently considered and that there are severe consequences if you drop below the balance.

Savings account opening will require more time than opening a bank account with a resident visa. Expecting immediate access to your savings account is unrealistic.

Requirements for Opening a Bank Account in UAE

What can you anticipate if you apply for a non-resident bank account in UAE for your personal use or your company’s use? Here are the things you should be aware of.

The following documents are required in order to create a personal bank account in UAE as a non-resident:

  • Copy of your passport with the UAE entry page
  • An original copy of a reference letter from your bank where you have a personal/corporate account from your country of origin or any other country
  • An updated CV
  • An original copy of the last six months of your bank statements from anywhere around the globe or your home country

There are two other important considerations about non-resident bank accounts. First, non-residents must maintain an average monthly balance of $100,000 USD with most Emirati banks. The federal government chose to place stringent rules on its financial sector, despite the fact that they may seem excessive. Last but not least, the UAE requires the applicant to be present to open the account.


It is crucial to remember that every financial institution has unique regulations regarding bank accounts. If you want to begin doing business in the UAE. We cover all you need to know about using financial services in the UAE in this article, including how to open a bank account there, what documentation is required, and how to close an account.   

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