Open a Bank Account in the UAE

The United Arab Emirates is one of the richest countries in the world. Many people dream of obtaining a visa for subsequent relocation, residence permit, or citizenship. Also, the UAE is one of the largest offshore zones, and taxes from international activities of registered companies also make up an important share of the state budget. But, in order to live and operate in this country, you need a bank account. Lawtter Solutions offers clients the opportunity to open a bank account in the UAE on favorable terms.

Service cost

1000 EUR*

Terms

1-3 months

Support

Multilingual

Type

With a personal visit

Opening an account

Basic information about opening a bank account in the UAE

Can a non-resident open a bank account in the UAE? Yes, the United Arab Emirates has special economic zones for non-residents. They exist in practically all regions: Dubai, Abu Dhabi, and others. Here, companies wishing to do business outside the UAE can register and enjoy the tax benefits of the jurisdiction.

Individuals can open an account for current financial transactions and receiving salaries and an investment account for bank deposits. A bank card can be obtained. Corporate accounts are available for legal entities, which allow settlements between companies. Accounts can be opened in different currencies. For example, you can open a UAE bank account in dirhams (local currency), US dollars, etc.

Bank accounts have minimum balance requirements. You must have at least 50,000 dirhams (about $13,700) in your account. There is no account maintenance fee in many financial organizations. It is important to know that if a company plans to cooperate with counterparties from the United States, there may be requirements to provide additional information and reporting on transactions.

You cannot open an account in the Arab Emirates remotely while being abroad. Account documents are issued only in the personal presence of the person who opens the account.

 

 

Advantages of opening a bank account in the UAE

 

Opening a bank account in the UAE allows customers to get several important benefits. The main ones are as follows.

1

Stability

The UAE is one of the most stable countries in the Middle East. It has a stable political situation, a developed economy, and a huge banking sector.
2

Respectable jurisdiction

Counterparties from most countries are ready to cooperate with a company that has a bank account in the Emirates.
3

Favorable conditions

Many financial organizations do not charge account maintenance fees and offer low commissions for financial transactions.
4

Technology

Banks in the Arab Emirates use the latest security technologies and offer convenient mobile banking.
5

Free deposit and withdrawal of funds

In the UAE, there are no currency controls or other cash flow restrictions.