As we all know, Dubai is one of the friendly jurisdictions for foreign investors and business entrepreneurs in the world to set up a business. Whether you’re planning to move to Dubai to set up a company, make an investment or to work, having a UAE bank account is crucial. The process of opening a bank account in Dubai is straightforward and requires minimum effort. Dubai is a global hub for banking as well as a key location for international banking and is the top destination for banking professionals. If you are one of those who are looking for setting up their business in Dubai, you may have several questions regarding opening your bank account, the documentation required, if non-residents are permitted to open a UAE bank account and what types of accounts are available, etc.

A non-resident can open a bank account in Dubai for sure. However, you must meet the eligibility conditions and know about the limitations. Opening a bank account in Dubai involves several steps and it may vary between banks. They usually are:

1. Choose a Bank: Choosing the right bank is the first major step. There are some popular banks in Dubai such as Dubai Islamic Bank, Mashreq Bank ,HSBC, Emirates National Bank of Dubai, etc.
2. Check Eligibility: It includes minimum age requirement and resident status.
3. Submit required Documents.
4. Visit the Bank for further verification.
5. Fill out the Application.
6. Make initial deposit.
7. Await Approval.
8. Account Activation.
9. Online Banking Setup.

The documents required to open a bank account in Dubai depend on your residency status and type of account you’re opening. You should decide whether to open a Current Account or Savings Account. Current account is mainly used for salary transactions and savings account is suited to deal with unforeseen circumstances and to those who want to save money for assets.

Following are the documents you must submit to open a bank account in Dubai:

• Copy of passport
• Residence visa (original and copy)
• Original passport for validation
• Emirates ID
• Proof of income (business financial statements or pay stubs)
• Proof of residence (electricity bill)
• Business documents (trade license, MOA, articles of organization)
• Sponsor’s letter of no objection
• Passport size photo

To open a salary bank account, you should submit a salary certificate. If you don’t have a salary certificate, you can submit the following documents

• contract copy or appointment letter
• a pay slip less than 3 months old
• a recent statement of account where your salary is transferred

Hence, the standard minimum salary required to open a bank account in Dubai ranges between AED 3,000 and AED 10,000. It may vary based on banks.

Now that you’ve understood the steps to open a bank account in Dubai. Opening a bank account is a critical step for those who wants to set up their business in Dubai. However, the procedure can be complicated and time-consuming without proper guidance and preparation.

At Quick express, we give comprehensive support to shorten the process and assure successful bank account opening experience. Get in touch with us and we are here to assist you in every step to fulfil your dream of starting your business in Dubai!