Opening a Bank Account in the UAE
Open a bank account in the United Arab Emirates, one of the safest and most stable nations in the world.
Learn about a non-reportable UAE bank account globally.
Due to the Common Reporting Standard (CRS), which requires all of your financial information to be reported to the nation where you reside as your tax residence (a jurisdiction that participates in the CRS), the majority of offshore jurisdictions are currently facing significant issues. Even banks in Singapore and Switzerland are unable to guarantee the confidentiality of consumer data these days. UAE banks are the best choice because information about bank accounts held by residents of the UAE is not required to be reported. In addition, UAE banks perform well economically and are independent of other global financial institutions, which makes the UAE a very appealing location for foreign investors and businesspeople.
Learn about a non-reportable UAE bank account worldwide.
Top banks in the UAE based on 1Pro Centre DMCC version
Emirates Islamic Bank (EIB)
Emirates NBD (ENBD)
Dubai Islamic Bank (DIB)
First Abu Dhabi Bank (FAB)
How we can help you register for an account in the United Arab Emirates banking system
With more than 14 years of experience opening all kinds of bank accounts in the United Arab Emirates, 1Pro Centre DMCC is able to take advantage of its solid relationships with the leading banks in the country to satisfy all the needs necessary for both individuals and businesses to open bank accounts there. Our hyper-individualized approach to each and every one of our clients has allowed us to maintain a 100% success rate in bank account openings since 2018.
With us you will get:
Successfully open a UAE bank account with
assistance of 1Pro Centre DMCC
|Scope of Service
|Package 1 – 500 USD
|Introduction to Banker
1Pro Centre DMCC will provide list of trusted bankers in the UAE with following information:
|Package 2 – Starting from: 1000 USD
|Consultation & Assessment
The service includes:
|Package 3 – Starting from: 3000 USD
|Complete Assistance for Bank Account Opening
The service includes:
Bank account opening in UAE FAQs
There are 28 foreign banks and 22 local banks in the UAE.
The top three biggest local banks in the UAE are First Abu Dhabi Bank, Emirates NBD, and Abu Dhabi Commercial Bank, based on total assets at the end of the 2017 year.
While all banks in the UAE, both local and foreign, are secure and offer efficient services, local banks tend to be more accommodating to SME companies regarding the approval for opening a bank account and accessing credit facilities.
In 2017, the UAE ranked fourth globally in terms of wealth inflows, demonstrating its status as a secure financial jurisdiction. Thus, maintaining a bank account in UAE banks is unquestionably safe.
A Current Bank Account in the UAE is one where the signatory is a UAE Resident, while a Call Account is for non-residents.
Opening a bank account in local UAE banks does not incur any fees.
Yes, UAE banks provide multicurrency bank accounts in AED, USD, Euro, GBP, CHF, etc., without additional service fees or mandatory minimum or average balances.
You can apply for a current (resident) personal bank account at any local or foreign UAE bank, selecting the one that aligns with your requirements and meets its minimum balance criteria.
Yes, foreigners can open a personal bank account in UAE, with most banks requiring a minimum monthly average balance of AED 100,000 (USD 27,249) for non-resident accounts.
The timeframe for opening a resident personal account is 3-7 business days, while for a non-resident personal account, it is 5-10 business days, subject to variations based on individual cases.
- Required documents include Emirates ID
- Passport copy
- Valid UAE residence visa
- Utility bill (issued within the last 3 months)
- Salary certificate or employment contract.
- Documents needed for a non-resident personal account include a passport copy
- Proof of address (issued within the last 3 months)
- Document verifying the source of the applicant’s income
Yes, it is possible to have multiple bank accounts with different UAE banks for various reasons, such as taking advantage of different benefits.
Yes, the presence of the signatory is mandatory for applying for bank account opening in the UAE, and the original passport must be verified in person.
There is no specific minimum initial deposit required to open a bank account in the UAE, but banks typically mandate maintaining a monthly average balance based on the chosen package.
For information on the Common Reporting Standard (CRS) in the UAE banking system and which bank accounts are considered reportable or non-reportable, please refer to our expert blog.
Explore our expert blog to discover the process of opening a corporate bank account in the UAE.
Opening a corporate bank account in the UAE takes a minimum of 3 weeks, with different timelines for specific cases, especially when the signatory is a UAE resident.