Dubai is one of the most preferred destinations for work and business today. Therefore, an increasing number of people are making Dubai their home for jobs and investment. The government of the UAE has introduced many schemes to attract talents and investors to the country, for which it has also ensured that people who make Dubai their home have access to all good things for a better living. Thus, due to the quality of life Dubai offers, it is fast becoming home to millions of people and businesses from across the globe.
Many global companies have moved to Dubai to set up their businesses as the city offers a favourable environment for company formation and investment. The efficient banking system in Dubai also plays a crucial role in completing the business setup process. The business setup process in Dubai is not complete unless you have a corporate bank account here. Dubai’s banking system is very flexible and accommodates both resident and non-resident investors to open an account.
In this blog, you will know how to open a bank account in Dubai, UAE.
An individual is eligible to open a bank account in Dubai even if they don’t live here. However, they can open only a savings account with no chequebook. Instead, they are given a debit card to withdraw money from their account. They will also have to manage minimum and maximum bank balances.
You will have to submit a copy of:
Residents can open a personal bank account easily (savings or current). Here are the essential documents required:
Opening a corporate bank account in Dubai is quite an easy process and essential while forming a company in Dubai. Though banks in Dubai are stringent, they have various options for both residents and non-residents businesses. Therefore, opening a bank account in Dubai is beneficial and mandatory if you are planning to start your business in Dubai. The benefits may include various financing assistance to make your investment process more straightforward.
The procedure is simple, but you may need professional assistance from a reputed business setup consultant in Dubai to adhere to the formalities of company formation and open a bank account.
Join hundreds of thousands of our happy customers amnd start being productive today.