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Office Hours

9:00 AM - 5:00 PM

Monday - Friday

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Our Location

gold crest executive tower- cluster c - office number 1501

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Call Us Now

+971 4 276 5645

+971 52 772 0777

BANK ACCOUNT OPENING IN THE UAE

Establish a bank account in the UAE, one of the world's most stable and secure countries

Why to choose UAE banks

Discover one of the world's non-reportable UAE bank accounts

UAE banks have a strong economic performance and are autonomous from international financial institutions, making UAE a highly desirable destination for foreign businessmen and investors.

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Full exemption from taxation of interest

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Best Modern Online Banking

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Dedicated Relationship Manager

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Economic Stability 1 USD = 3.6725 AED since 1997

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Innovative Banking Facilities with Apple Pay, Samsung Pay

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UAE ranked World’s 2nd safest country

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No currency exchange regulations

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Multi Currency Bank Accounts

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Access to Global Investment Opportunities

Owners Solutions DMCC is here to assist you with bank account opening in UAE.

How can we help?

How we can assist you in opening a bank account in the United Arab Emirates

With us you will get:

  • Follow-up of Bank Account opening

  • Assessment of individual/corporate background

  • Regular updates on the status of your application

  • Full assistance during application and interview

  • Preparation of required documents with a company

    profile specially crafted for banks

  • Coordination with Relationship Officer before account opening application meeting

  • Meeting scheduling with Relationship Officer of a chosen bank

OWNERS SOLUTIONS DMCC

Successfully open a UAE bank account with assistance of OWNERS SOLUTIONS DMCC

Package Fees

2,500 AED

Service

Introduction to Banker

Scope of Service

  • Banker’s Email Address

  • Banker’s Mobile Number

  • Banker’s Location

  • Bank Tariff / List of Packages

  • Personal introduction via

  • online call

Bank account opening in UAE FAQs

How many banks are there in the UAE

There are 28 foreign and 22 local UAE banks.

TOP - 3 biggest UAE local banks

They are First Abu Dhabi Bank, Emirates NBD and Abu Dhabi Commercial Bank (based on total assets of banks at the end of the 2017 year).

Is it true that local UAE banks are better ?

All banks in UAE, local and foreign, are safe and provide efficient services. However, local banks are more flexible with SME companies in terms of chances of getting approval for Bank Account Opening in the UAE and credit facilities.

Is it safe to have a bank account in the UAE banks ?

In 2017 UAE raised to the 4th place as the country with the biggest wealth inflows, which proves UAE as a safe financial jurisdiction for investors to keep their monetary assets in the UAE Bank Accounts. So yes, it is absolutely safe.

How much will it cost to open a bank account in UAE local bank ?

UAE local banks don’t charge any fees for Bank Account Opening.

Do UAE banks provide multicurrency accounts ?

Yes, UAE banks provide multicurrency Bank Accounts in AED, USD, Euro, GBP, CHF etc. There is the possibility to apply to the multicurrency Bank Account in most UAE banks without additional service fees or maintain a minimum, or average balance for the Bank Account.

Can i apply for the Bank Account Opening at any UAE banks ?

You can apply for current (Resident) Personal Bank Account at any UAE local or foreign bank. Choose the right bank which offers all the facilities you are looking for, and where you can qualify to their minimum maintaining balance requirement.

Can foreigners open the personal Bank Account in UAE ?

Yes, as the foreigner you can open a Personal Bank Account in UAE. Most of the banks in Dubai/UAE require min AED 100,000 (USD 27,249) as the monthly average balance to open a Non-Resident Personal Bank Account in Dubai/UAE.

How long will it take to open Resident Personal Account and Non-Resident Personal Account at UAE banks ?

3-7 business days and 5-10 business days respectively. The time frame can vary from case to case.

What are the required documents to open the UAE Resident Personal Account ?

1-Emirates ID

2-Passport copy

3-Valid UAE Residence Visa

4-Utility Bill issued within last 3 months for your UAE residential premises, rented or owned

5-Salary Certificate from employer or contract with the employer (for employees). For investors, it should be the latest corporate document, showing ownership in the company

Any bank may require additional documents based on their special requirements and submitted case.

What are the required documents For opening a NON- Resident Personal Account in UAE ?

1-Passport Copy

2-Proof of address issued within the last 3 months

3-CV

4-Document proving the source of the applicant’s income (it can be the latest 3 months personal bank statement or corporate bank statement which applicant owns).

Make your application process hustle-free and hire a Professional Business Consultant when applying to the UAE Non-Resident Bank Account. Contact My Business Consulting DMCC for free expert advice.

Can i have two bank accounts with different UAE Banks ?

Yes, you can have as many bank accounts as you like in different UAE banks. There are several reasons to have more than one Bank Account. You can check the benefits of having an alternative corporate bank account in one UAE banks for your company in our expert blog.

Is the presence of the signatory required to apply to Bank Account Opening in UAE ?

Yes, the presence of the signatory is mandatory to apply to Bank Account opening in UAE. The banker should verify the original passport and meet the signatory personally. This rule is valid for all UAE Bank Accounts: Resident, Non-Resident and Offshore Bank Accounts in the UAE.

What is the initial deposit to open the Corporate Bank Account in UAE

There is no min amount of money required to open a bank account or the initial deposit in order to open the Bank Account, like in other countries. However, UAE banks require to maintain a monthly average balance for the Bank Account. During applying for Bank Account opening in the UAE, the specific package will be chosen upon your needs.

What is the CRS in regards to reporting the bank Account details ?

Please, check our expert blog to know more about CRS in the UAE banking system and what Bank Accounts are considered to be reportable and non-reportable.

When i can start open the Bank Account For my Company ?

you can start the process when the company documents issued and the visa of the shareholder and Emirates ID issued

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How long will it take to open the Corporate Bank Account in UAE

It will take min 3 weeks to open the Corporate Bank Account in UAE, but in the case when signatory is UAE resident. It applies different timings in each specific case.

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gold crest executive tower , cluster c , office number 1501 , Jumeirah Lake Towers , DMCC Free zone , Dubai , United Arab Emirates P.O.Box 338574