Dubai bank account for non-residents

[pomegranate]

Hello,
Do you know if it is possible to open a bank account in Dubai for non-residents? Which bank could do that? can the account opening be done remotely?
-Thank you

 

[Fred]

Hi,

it's required by law of the UAE to open bank account in person - remote opening not possible.

Personal non-resident Bank Account is possible with the Private Banking Unit of Mashreq and ENBD with having some link to the country like Real Estate purchase etc.

Expect 6-12 months bank account opening time and a lot of KYC.

Without any link to the UAE you won't get banking with a local UAE Bank done.

Depending on what you are looking for our offer with getting you the Dubai Resdience Visa through Dubai Company Formation could get you Business & Personal Bank Account done.

 

[SoNewToAllShit]

Can you arrange for it @Fred ?

 

[Fred]

Can you arrange for it @Fred ?

6-12 months bank account opening - no thanks.

People already crying now and blaming me for 3 months compliance with ENBD.

 

[SoNewToAllShit]

6-12 months bank account opening - no thanks.

People already crying now and blaming me for 3 months compliance with ENBD.

so no way to get account openings in Dubai right now`?

 

[Fred]

so no way to get account openings in Dubai right now`?

Within 1 day if you have a Dubai Residence Visa through Dubai Company Formation.

OP was asking about non-resident Account opening. If you take in consideration how easy it is to get the Residence Visa in the UAE - non-resident banking simply doesn't makes sense.

 

[pomegranate]

Thank you for your answers. I guess I have the answer to my question:

non-resident banking simply doesn't makes sense.

I understand getting the Residence Visa in the UAE is not too complicated but it still requires spending time there and quite a few additional costs on the way (renting, being sponsored, etc.) - I will have to think it is worth it.

 

[Fred]

Thank you for your answers. I guess I have the answer to my question:

I understand getting the Residence Visa in the UAE is not too complicated but it still requires spending time there and quite a few additional costs on the way (renting, being sponsored, etc.) - I will have to think it is worth it.

renting or being sponsored isn't requried if you get the Residence Visa throug the Dubai Company Formation.

Don't get me wrong and I understand your point but exactly because of you have to take some money in hand to get things straighforward done in Dubai - the whole Banking still works great and isn't a dead cow like Georgia nowadays.

Look around in the forum and see how Georgia opened for everyone in 2018/2019 with a pulse and now they start enforcing CRS, making compliance issues and so on.

In 2021 in the Offshore World the rule is for sure - easy come easy go

 

[clemens]

OP was asking about non-resident Account opening. If you take in consideration how easy it is to get the Residence Visa in the UAE - non-resident banking simply doesn't makes sense.

that make sense.. personal visit is required to obtain Visa, company and bank account.

 

[mikestachurski]

Within 1 day if you have a Dubai Residence Visa through Dubai Company Formation.

OP was asking about non-resident Account opening. If you take in consideration how easy it is to get the Residence Visa in the UAE - non-resident banking simply doesn't makes sense.

Can you elaborate?

So if I get it right you say that you can get Dubai Residence Visa through forming a Company in Dubai and the Dubai Residence Visa will allow you to open bank account in Dubai which you can use as you pleased correct?

To open bank account you need to be in person in Dubai and have Residence Visa
To form a company in Dubai you can do it remotly

Did I understood you correctly?

 

[369]

what happens if you lose the residents visa because of not visiting the country ?

 

[csp dubai]

dubai is getting complicate , you need a seriuos provider , you will need rental contract , utility bill , if you want account in a decent bank , and not be closed at once

 

[Fred]

Can you elaborate?

So if I get it right you say that you can get Dubai Residence Visa through forming a Company in Dubai and the Dubai Residence Visa will allow you to open bank account in Dubai which you can use as you pleased correct?

To open bank account you need to be in person in Dubai and have Residence Visa
To form a company in Dubai you can do it remotly

Did I understood you correctly?

Yes - that's correct.

You did understood everything correctly.

what happens if you lose the residents visa because of not visiting the country ?

If we are talking about 1+ year the Residence Visa get's cancelled and the Bank Accounts set in a grace period.