Requirements for Opening a Bank Account in the UAE
- passport
- the no-objection letter (a letter from your employer or your school/university which states that you have contractual obligations in your home country which you will return to)
- visa (if you are a new arrival to the UAE)
- Emirates ID card (or the copy of your application if you’re still waiting for it).
- document that states your employer or sponsor and your salary and proof of address in the form of a utility bill or rental agreement.
- letter of recommendation from another bank (you can easily procure this from the bank you use in your country of origin or residence) - not obligatory.
- every bank will also require to hold a minimum amount every month and the amount will depend on the specific institution and the products offered.
Requirements for Opening a Bank Account as a Non-Resident
To open a personal bank account in the UAE as a non-resident, the following documents are mandatory:
- Copy of your passport with the UAE entry page
- An original copy of a reference letter from your bank where you have a personal/corporate account from your country of origin or any other country
- An updated curriculum vitae (CV)
- An original copy of the last six months of your personal bank statements from anywhere around the globe or your home country
PLEASE NOTE!
If you are from a country where the official language is not English, it’s best to get all of your documents translated. Lastly, the Central Bank in the UAE mandated a Know Your Customer (KYC) policy for all banks to ensure that they remain compliant with international standards. Bank tellers or other representatives may ask you questions about transactions before or after opening the account.
The applicant, whether an expatriate or visitor, must be physically present to confirm the opening of the account because a bank officer must witness your signing of the application and other documents. In some cases, you can enlist the help of a financial advisor to serve as your representative to help you open your account remotely.
Some options for international bank accounts in the UAE include