Dubai bank after visa cancellation

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SirTararam

New member
AFAIK having a Dubai bank with Dubai residency doesn't make you CRS reported.

How about when you are moving permanently out of the country / leaving the company that sponsors your visa and you get your visa cancelled.

a) If you decide to switch the status of your bank account to non-resident, will you need to provide a tax id from the new tax residency? Which means the account will be CRS reported.
or
b) Practically, you can just keep the account until the expiration of your Emirates ID without changing anything / notifying the bank of your visa status, and be able to use it?

Thanks.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
No Bank will keep your account open in the UAE when you mention them that you are non-resident.

If you open an non-resident Bank Account in the UAE you need to minimum go with a Private Banker and still you need some nexus to the country like a Property Downpayment Plan so an obviously reason why you need a Bank Account in the UAE.

When you just don't do anything latest your EID expires you get the account closed.

From all what I have seen never ever I would use a Bank Account in the UAE which is in some kind grace period or you just use a shitty bank and you are happy about a compliance shortcoming till it bides your ass.

BVute then please don't come here and claime UAE is so bad.
 
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