Requirements for opening a personal bank account in Dubai
There are two types of Personal Bank Accounts offered by Dubai banks for people with residents visas or non-residents accounts.
Bank Account for Non-Residents
If you are not a resident of the United Arab Emirates and would like to open a personal account, you have certain limitations on the choice of banks which open non-resident accounts. Though, there are good banks in Dubai to choose from which do offer non-resident personal accounts.
It is important to note, that for non-residents accounts banks have higher requirements as regards to the initial deposit and on the minimum balance to be kept on the account. Such requirements are different from bank to bank.
The list below is the general guideline of requirements to open your non-resident personal bank account:
Bank Account for Residents
Resident visa account you can open a resident personal account if you have a residents visa. The residents visa can be obtained either through your own company license in the UAE according to your license visa eligibility or if you own a property in the UAE of a certain value. The process of opening a personal account for the UAE resident is more flexible and there is a larger list of banks to choose from.
The official compliance regulations for a personal resident account opening are much easier. The documents you would generally need to provide are:
The requirements to maintain minimum balance for personal resident account in Dubai are absolutely minimal. The account can be used to receive transfers from corporate accounts and vice versa under the condition that your bank understands the nature of such transactions.
The overall benefits of having a personal bank account are listed below: