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EmiratesSetup

Personal Bank Account for UAE Residents

4br

4br

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Jul 23, 2020
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#1
I am researching the following:

- setting up a Dubai free zone company, with visa and Emirates ID
- setting up a corporate bank account for the above entity
- purchasing an apartment or home in Dubai

Before I would make the last step I would like to get a personal bank account in The UAE. Does anyone have any experience of doing this without a fixed address in The UAE? And general experience of having a personal account in The UAE.
 
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#3
Gediminas said:
You can use the hotels' address for this.

A personal bank account in UAE is a must if you want to receive a tax certificate (usually after 6 months).

What freezone are you thinking about?
Click to expand...

I am doing a lot of reading at the moment, but from what I am reading here it seems it those who incorporate outside Dubai, wish they had paid a little extra for a Dubai setup.

The main one that has caught my interest is Meydan Free Zone. Though I don't understand if I fit the criteria. I have an internet business where all the income is from advertising. I am not sure if that falls under the umbrella of the media free zone. The most detailed description I can find is: advertisement, marketing, and communication. My business activities would only involve me working from home. All my employees are in Eastern Europe.
 
#5
You can open a personal account in 2 ways. Pay a large minimum deposit on a fixed term basis about 50K. This can be done as a non resident.

Get your Emirates ID via your visa and every bank will open you a savings account which is basically a current account without any facilities. No overdraft or cheque book.

You can do both without a UAE address you can use your current address.

You would be better to use Project Management liscence as it doesn't have a set industry and then it covers you for mostly all consulting roles or coordinating projects.
 
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#6
CaptK said:
You can open a personal account in 2 ways. Pay a large minimum deposit on a fixed term basis about 50K. This can be done as a non resident.

Get your Emirates ID via your visa and every bank will open you a savings account which is basically a current account without any facilities. No overdraft or cheque book.

You can do both without a UAE address you can use your current address.

You would be better to use Project Management liscence as it doesn't have a set industry and then it covers you for mostly all consulting roles or coordinating projects.
Click to expand...
Very true, Many digital Bank App only require UAE number and Emirate ID nothing else.
Here is the app list

(Liv. UAE - Digital Lifestyle Bank) play.google.com/store/apps/details?id=com.liv.android&pid=Livwebsite
(RAKBANK Digital Banking) play.google.com/store/apps/details?id=com.rak
(Mashreq Neo) play.google.com/store/apps/details?id=com.mashreq.NeoApp
(FAB Mobile) play.google.com/store/apps/details?id=com.fab.personalbanking


You can check Dubai Internet CIty .
I think 16.2 Internet And Multimedia will be your best choice.
I attach the activity List below.

"purchasing an apartment or home in Dubai"

You can buy remotely Before you arrive .All can done remotely. You can directly from Developer No agent involve with Payment Plan .
(Emaar) properties.emaar.com/en/buy-from-us-directly/
(Dubai Holding) dp.ae/our-portfolio/homes-to-buy/
(Damac)damacproperties.com/en/view-online-and-book/

Dubai Land department App
(play.google.com/store/apps/details?id=ae.gov.dubailand.selfregistration)

YouTube Guide for Buying Home (From Dubai Land department)
youtube.com/watch?v=e2zTiup6XpY
 

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#8
Employee, spouse, family and investor visa.

There are a few companies that are willing to make you an employee for about 2K a year. That way you can get an employee visa and take advantage of the benefits.
 
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#9
CaptK said:
There are a few companies that are willing to make you an employee for about 2K a year.
Click to expand...
2k usd or uad?

how do I find such companies?

Who can tell me - how do I find such companies? What keywords should I look for in the internet?

Dubai fake employement - isn't it. And I don't want a fake illegal one, I want a fake but legal one, although not a *real* employement.
 
#10
minotari said:
Who can tell me - how do I find such companies? What keywords should I look for in the internet?

Dubai fake employement - isn't it. And I don't want a fake illegal one, I want a fake but legal one, although not a *real* employement.
Click to expand...
It's real employment. You are registered under the company and then your issued a visa which then allows you residency and ID card.
 
#15
CaptK said:
thats the best your going to get any other arrangements is between you and the company owner
Click to expand...
Ok.

My question also has been "how do I find such companies? What keywords should I look for in the internet?"

My goal is to get a legal employment document of any kind, which I then would use for opening a personal bank account and perhaps some other services. I don't need an actual job itself.
 
#16
gofreelance.ae
You can check this also.
Good option for what are looking for

minotari said:
Ok.

My question also has been "how do I find such companies? What keywords should I look for in the internet?"

My goal is to get a legal employment document of any kind, which I then would use for opening a personal bank account and perhaps some other services. I don't need an actual job itself.
Click to expand...
 
#17
minotari said:
Ok.

My question also has been "how do I find such companies? What keywords should I look for in the internet?"

My goal is to get a legal employment document of any kind, which I then would use for opening a personal bank account and perhaps some other services. I don't need an actual job itself.
Click to expand...
I know exactly what you want, contract, visa, Emirates ID which then gets you a bank account. This is not something that is advertised.
 
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