How to Open a Bank Account in UAE?

A personal bank account is an account for use by a person for that individual’s own needs. A personal bank account in UAE mentions one’s account at the bank that is used for non-business purposes.

An individual – non-resident in UAE or resident in UAE is additionally qualified for a private/personal bank account in UAE. The majority of the banks in the UAE permit non-residents to open a Savings Account and not a Current Account. Non-residents are not able to get a checkbook yet, non-residents will be issued a debit card to withdraw the cash. As a non-resident will be subject to a maximum or a minimum balance.

Requirements and conditions for an opening personal bank account in UAE for non-residents as follows:

• The physical presence of the applicant is required in UAE
• Copy of passport with UAE entry stamp page
• Profile of the applicant (CV)
• Original bank reference letter from the company/personal bank account of the applicant
• Personal bank statement of last six months
• The majority of the banks in UAE require a monthly average balance to open a non-resident personal account and it depends on the bank to bank.

How to open a company/corporate bank account?

UAE is one of the best investor’s friendly business center point in the world. Bank account in Dubai offers the companies as well as an investor’s customer-friendly and stress-free services once the candidate meets appropriate requirements by the banks. Company bank account opening in the Dubai process is a simple task only if you know the correct documentation requirements of the banks. For the company account in Dubai, the bankers may request further inquiries or supporting documents to open the bank account. We MSZ corporate services provider can assist you to open your bank account in UAE.

Required documents for a corporate bank account in UAE

• Trade license copy
• Memorandum of Association/Articles of association copy
• Share certificate copy
• Incorporation certificate copy
• Passport copy with UAE entry page of shareholders
• Shareholder’s Emirates ID copy
• Shareholder’s bank statement of last six months
• Shareholder’s visa page copy
• List some existing clients/prospective clients
• Utility bill of the shareholders for the proof of address
• In case the shareholder is having a company outside the UAE, a copy of corporate legal documents, as well as bank statements, is required

MSZ corporate services provider can assist investors as well as companies to set up a company and opening a bank account in Dubai either it is a personal or company bank account. We also assist in investor visa and license renewal. The UAE enjoys a great banking system known for its excellent client service throughout the world. MSZ corporate services provider will assist you in the Dubai company formation with the bank account. MSZ corporate services provider has already assisted many businessmen as well as entrepreneurs in opening a bank account in Dubai. MSZ corporate services provider has a team of experts professionals who can guide and suggest you the bank that completely meets your business needs.

Advantages you will get when you decide to open a bank account in UAE

• You will get a more secure as well as a reliable banking service
• Your record will need low maintenance cost
• Your account will be confidential
• You will have the option to take advantage of online banking services
• You will have the option to deposit and also withdraw cash simply

A business owner cannot get enough advantages from the banking services in Dubai. To open a non-residential bank account in the United Arab Emirates, you should follow a method to confirm your identity. You will likewise need to present a few documents to the bank executives. We will assist you in this process and guarantee that you get the best services.

For more information on opening a bank account in UAE, Get in touch with our experts to provide you with the best advice, Call us now +971562181007 or email at info@msz.ae