A personal bank account is an account for use by an individual for that person’s own needs. Personal bank account in Dubai refers 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 eligible for a private/ personal bank account in Dubai. Most of the banks in the Dubai UAE allow non-residents to open only a Savings Account and not a Current Account. Non- residents are not able to attain a cheque book however, non-residents will be given a debit card to withdraw the money. As a non-resident, will be subject to a minimum and/or maximum balance.
Conditions & Requirements for opening 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 applicant 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. (If applicant have only company account /or owner of company out side or inside UAE , then latest six month bank statement and also provide the Legal documents from the company proofing his ownership or share)
- Most of the banks in Dubai / UAE requires monthly average balance to open non -resident personal account in Dubai / UAE and it varies depends on the bank to bank .
How to Open Company Bank Account in Dubai / Corporate Bank Account in Dubai
Dubai is one of the leading investor’s friendly business hub in the world . In all business , hassle free financial transactions are playing a vital role in business growth. Bank account in Dubai offers the investors and companies very customer friendly and hassle free services once the applicant meets apt requirements by the banks . Company bank account in Dubai process is a easy task if you know the right documentation and KYC requirements of the banks . During the time of company account in Dubai the bankers may ask further questions or supporting documents to open the bank account . So its very critical to respond in this information by the applicants . We Nex Consultants can guide you on KYC requirements , prior 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 shareholders
- Copy of Emirates ID of shareholders (if the shareholders having UAE residency)
- Copy of Visa page of shareholders (if the shareholders having UAE residency)
- List few prospective clients / or existing clients (suppliers/ buyers)
- Copy of last 6 months bank statement of the shareholders
- Copy of utility bill of the shareholders showing the proof of address
- Copy of corporate legal documents and bank statements ( if the shareholder having company outside UAE)
Note : Above documents are the usual documents required /requested by the bankers while opening the corporate bank account in Dubai . Apart from the mentioned above documents and information , bankers might ask further clarification on transactions or invoices or contracts . The applicants will be informed by the bankers as and when they require any further documents or information on bank account opening in Dubai .
NEX CONSULTANTS can assist companies and investors to setup company in Dubai and bank account opening for the companies . We also assist for preparing of bank account opening application forms and introduction of bankers & fixing appointments . Do you want help in opening bank account for your company ? We’ve got you covered. You need a bank account for your business so that you can do hassle free transactions in Dubai.
The UAE enjoys a superb banking system known for its exceptional customer service throughout the world. Nex Consultants will help you in Dubai Company formation with bank account. We help you in opening bank accounts in domestic banks. The business owners generally are unaware of domestic and international bank organizations. Nex Consultants help them in opening accounts in those banks. We have already helped several businessmen and entrepreneurs in opening Bank Account in Dubai. We also help company owners in maintaining bank accounts.
Nex Consultants provides its clients with a complete range of services regarding bank account opening and maintaining. We have a team of specialist professionals who can suggest you the bank which completely meets your business needs. Our services will save your valuable time.
Benefits you will get when you choose to open a bank account in Dubai
- You will get a safer and reliable banking service
- Your account will be confidential
- Your account will require low maintenance cost
- You will be able to take advantage of online banking services
- You will be able to deposit and withdraw money easily
A business owner can’t get enough benefits from the banking services in Dubai. To open a non-residential bank account in the UAE, you will need to follow a procedure to verify your identity. You will also need to submit some documents to the bank executives. We help you in all this procedure and ensure that you get the best services of the bank. For more details on bank account opening process in Dubai, Consult with our banking account opening advisers .