{"id":2360,"date":"2022-03-15T10:44:08","date_gmt":"2022-03-15T10:44:08","guid":{"rendered":"https:\/\/www.squareyards.ae\/blog\/?p=2360"},"modified":"2024-06-12T11:20:26","modified_gmt":"2024-06-12T11:20:26","slug":"open-a-bank-account-in-dubai-accart","status":"publish","type":"post","link":"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart","title":{"rendered":"A Guide to Opening a Bank Account in Dubai"},"content":{"rendered":"<p style=\"text-align: justify;\">The process of &#8220;<em>Open a Bank Account in Dubai<\/em>&#8221; is pretty straightforward and requires minimum effort. Like any other financial institution, the banks in Dubai also require the submission of some necessary documents, with the minimum amount defined as deposited money for opening a new bank account. In this blog, we will help you discover all the policies and steps that are required by a user to follow while opening a business, current, and savings account in Dubai.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-6a04b6b19a215\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-6a04b6b19a215\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Open_a_Bank_Account_in_Dubai\" title=\"Open a Bank Account in Dubai\">Open a Bank Account in Dubai<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Requirements_for_Open_a_Bank_Account_in_Dubai\" title=\"Requirements for Open a Bank Account in Dubai\">Requirements for Open a Bank Account in Dubai<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Pick_your_Preferred_Bank\" title=\"Pick your Preferred Bank\">Pick your Preferred Bank<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Choose_Your_Account_Type\" title=\"Choose Your Account Type\">Choose Your Account Type<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Savings_Account\" title=\"Savings Account\">Savings Account<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Current_Account\" title=\"Current Account\">Current Account<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Collect_all_the_Relevant_Documents\" title=\"Collect all the Relevant Documents\">Collect all the Relevant Documents<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Open_a_Bank_Account_in_Dubai_for_Non-Residents\" title=\"Open a Bank Account in Dubai for Non-Residents\">Open a Bank Account in Dubai for Non-Residents<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Documents_Required_for_Submission_by_a_Non-Resident\" title=\"Documents Required for Submission by a Non-Resident\">Documents Required for Submission by a Non-Resident<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Open_a_Cooperate_Bank_Account_in_Dubai\" title=\"Open a Cooperate Bank Account in Dubai\">Open a Cooperate Bank Account in Dubai<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Documents_Required_for_Open_a_Cooperate_Bank_Account\" title=\"Documents Required for Open a Cooperate Bank Account\">Documents Required for Open a Cooperate Bank Account<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Balance_Required_to_Open_a_Corporate_Bank_Account\" title=\"Balance Required to Open a Corporate Bank Account\">Balance Required to Open a Corporate Bank Account<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#How_Can_Tourists_Open_a_Bank_Account_in_Dubai\" title=\"How Can Tourists Open a Bank Account in Dubai?\">How Can Tourists Open a Bank Account in Dubai?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Other_Bank_Charges\" title=\"Other Bank Charges\">Other Bank Charges<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs)\">Frequently Asked Questions (FAQs)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#What_much_is_one_charged_to_pay_while_opening_a_bank_account_in_Dubai\" title=\"What much is one charged to pay while opening a bank account in Dubai?\">What much is one charged to pay while opening a bank account in Dubai?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#What_are_the_services_that_a_bank_offers_after_opening_a_new_bank_account\" title=\"What are the services that a bank offers after opening a new bank account?\">What are the services that a bank offers after opening a new bank account?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#What_are_the_types_of_loans_you_can_get_from_your_banks\" title=\"What are the types of loans you can get from your banks?\">What are the types of loans you can get from your banks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#What_is_the_different_type_of_bank_account_you_can_open\" title=\"What is the different type of bank account you can open?\">What is the different type of bank account you can open?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.squareyards.ae\/blog\/open-a-bank-account-in-dubai-accart\/#What_is_the_difference_between_a_savings_account_and_a_current_account\" title=\"What is the difference between a savings account and a current account?\">What is the difference between a savings account and a current account?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Open_a_Bank_Account_in_Dubai\"><\/span>Open a Bank Account in Dubai<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Bank-Account-in-Dubai.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2362 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Bank-Account-in-Dubai.png\" alt=\"Open a Bank Account in Dubai\" width=\"1110\" height=\"555\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Bank-Account-in-Dubai.png 1110w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Bank-Account-in-Dubai-300x150.png 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Bank-Account-in-Dubai-1024x512.png 1024w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Bank-Account-in-Dubai-768x384.png 768w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">The procedure behind in opening a new account in the city is fairly simple. It is easy for both a salaried employee and a businessman to open their respective bank accounts. But the only thing that they are required to keep in mind is that a salaried employee is not bound to keep any sort of minimum balance in their account. Whereas a businessman or someone who is opening a personal account is supposed to always keep a minimum balance in their accounts.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Requirements_for_Open_a_Bank_Account_in_Dubai\"><\/span>Requirements for Open a Bank Account in Dubai<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">If you are an individual who is residing in the city, then the following steps will help you to open a new bank account easily in Dubai.<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Pick_your_Preferred_Bank\"><\/span>Pick your Preferred Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">There are various options of banks available for a user to choose from such as Mashreq Bank, Citibank, HSBC, Emirates NBD, etc. Therefore, if a user is hoping to open a salaried account, then they are advised to first confirm the same with their companies and check for their association. This acts as an added advantage for the user, as they can then withdraw their salary as soon as it gets credited to their account. Whereas, if one opens the same account in some other bank that is not associated with your organisation then you might face a bit of difficulty while withdrawing your money the same day. In case you are in search of opening a business or a personal bank account in Dubai, then a user is required to maintain a minimum balance to open a bank account in Dubai. As now, they\u2019re a penalty charged on the same if a user fails to maintain the same by the Central Bank of UAE.<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Choose_Your_Account_Type\"><\/span>Choose Your Account Type<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Once, a user is done selecting the bank that they wish to open their account, they are required to choose the kind of account they want to open. The two types of bank account are a savings account and a current account.<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"list-style-type: none;\">\n<ul style=\"text-align: justify;\">\n<li>\n<h4 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Savings_Account\"><\/span>Savings Account<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">This type of bank account is best suited for those users who wish to save their money for dealing with assets and even meeting any unexpected situations. This type of account delivers limited transactions. You will also some banks that do not even share a debit card with their customers for the purpose of safely securing their money for the future.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Collect-all-the-Relevant-Documents.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2363 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Collect-all-the-Relevant-Documents.png\" alt=\"Collect all the Relevant Documents for open bank account\" width=\"1110\" height=\"555\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Collect-all-the-Relevant-Documents.png 1110w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Collect-all-the-Relevant-Documents-300x150.png 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Collect-all-the-Relevant-Documents-1024x512.png 1024w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Collect-all-the-Relevant-Documents-768x384.png 768w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/><\/a><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"list-style-type: none;\">\n<ul style=\"text-align: justify;\">\n<li>\n<h4 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Current_Account\"><\/span>Current Account<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">This type of account is best suited for users who indulge in a lot of salary transactions. This bank account helps you to cover the monthly expenses. This type of account helps the user to withdraw their money at any point in time in the day.<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Collect_all_the_Relevant_Documents\"><\/span>Collect all the Relevant Documents<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Whether you are an owner of a savings account or a current account. A user is required to submit these necessary documents.<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"list-style-type: none;\">\n<ul style=\"text-align: justify;\">\n<li>Transcript Visa<\/li>\n<li>User\u2019s Salary Certificate<\/li>\n<li>ID proof for Emirates<\/li>\n<li>Copy of user\u2019s original passport along with its copy.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Users should be aware that it is important for them to have an Emirates ID card while applying for opening a bank account in Dubai. But it is also true that getting a card may take a little longer. Therefore, in such situations, the user is advised to use a copy of their registration form instead.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Open_a_Bank_Account_in_Dubai_for_Non-Residents\"><\/span>Open a Bank Account in Dubai for Non-Residents<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">If you are wondering whether or not you can open a bank account in Dubai for non-residents. Then, the answer to this question is, yes! A non-resident can also open a bank account provided they choose to open a savings account and meet the specific criteria listed by the bank. The bank normally tends to first check their documents properly and when verified, helps them to open their bank account. Also, the bank does not issue them a chequebook and offer the user a debit card.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-Dubai-Bank-Accounts-for-Non-Residents.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2364 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-Dubai-Bank-Accounts-for-Non-Residents.png\" alt=\"Open a Bank Account in Dubai for Non-Residents\" width=\"1110\" height=\"555\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-Dubai-Bank-Accounts-for-Non-Residents.png 1110w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-Dubai-Bank-Accounts-for-Non-Residents-300x150.png 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-Dubai-Bank-Accounts-for-Non-Residents-1024x512.png 1024w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-Dubai-Bank-Accounts-for-Non-Residents-768x384.png 768w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/><\/a><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Documents_Required_for_Submission_by_a_Non-Resident\"><\/span>Documents Required for Submission by a Non-Resident<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">After knowing what documents, a resident of Dubai does is supposed to have. Here is the list of documents that are required by a non-resident to have to open a bank account in Dubai.<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"list-style-type: none;\">\n<ul style=\"text-align: justify;\">\n<li>Transcript bills for all utilities of the user.<\/li>\n<li>Account Statements of the previous bank<\/li>\n<li>A recommendation letter from the user\u2019s original bank<\/li>\n<li>A brief history of the user<\/li>\n<li>A brief about the professional activities of a user<\/li>\n<li>The educational background history of the user<\/li>\n<li>Lastly, a passport<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Open_a_Cooperate_Bank_Account_in_Dubai\"><\/span>Open a Cooperate Bank Account in Dubai<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">It is true that the functions that are performed while opening a bank account differ from one bank to another. But it is also true that the one thing that is common in all the banks for you to have been the presence of their directors &amp; shareholders. Therefore, below is the way mentioned through which a user can open a business account in the city. The first step is for the user to fill in the application form by mentioning all the necessary details (company details to be pr\u00e9cised). These details should mention everything about the company i.e., the details of the client, the details of the supplier. Attached to this application form, a user is also supposed to submit the following documents.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Cooperate-Bank-Account-in-Dubai.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2365 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Cooperate-Bank-Account-in-Dubai.png\" alt=\"Open a Cooperate Bank Account in Dubai\" width=\"1110\" height=\"555\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Cooperate-Bank-Account-in-Dubai.png 1110w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Cooperate-Bank-Account-in-Dubai-300x150.png 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Cooperate-Bank-Account-in-Dubai-1024x512.png 1024w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/Open-a-Cooperate-Bank-Account-in-Dubai-768x384.png 768w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/><\/a><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Documents_Required_for_Open_a_Cooperate_Bank_Account\"><\/span>Documents Required for Open a Cooperate Bank Account<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<li style=\"list-style-type: none;\">\n<ul style=\"text-align: justify;\">\n<li>Shareholders Residency visa<\/li>\n<li>Shareholders Passport copies<\/li>\n<li>Shareholders Emirate ID card copy<\/li>\n<li>Directors Passport copy<\/li>\n<li>A brief about the kind of business the user is running.<\/li>\n<li>A brief about the source of their funds.<\/li>\n<li>All the existing contracts<\/li>\n<li>A recommendation letter from the user\u2019s business partner.<\/li>\n<li>A blueprint of the user\u2019s business plan<\/li>\n<li>All the necessary documents related to the corporate<\/li>\n<li>A Memorandum<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ol style=\"text-align: justify;\">\n<li>Once the user\u2019s application gets approved, the bank then verifies all the information related to the management team of your company along with their financial projections.<\/li>\n<li>\u00a0As soon as the background clearance is done, the bank then sets up an interview with its users.<\/li>\n<li>Once the user clears their interview successfully, the bank finally opens the corporate bank account in Dubai of its users.<\/li>\n<\/ol>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Balance_Required_to_Open_a_Corporate_Bank_Account\"><\/span>Balance Required to Open a Corporate Bank Account<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">A corporate account holder\u2019s monthly balance average totally depends on the kind of bank a user chooses for themselves. But on average the banks in the city require the user to at least maintain a minimum of AED 50K \u2013 AED 500K. Also, it is recommended for the user to cross-check the facts with their banks and precisely hear the figure that is required for you to maintain.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"How_Can_Tourists_Open_a_Bank_Account_in_Dubai\"><\/span>How Can Tourists Open a Bank Account in Dubai?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/How-Can-Tourists-Open-a-Bank-Account-in-Dubai_.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2366 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/How-Can-Tourists-Open-a-Bank-Account-in-Dubai_.png\" alt=\"How Can Tourists Open a Bank Account in Dubai\" width=\"1110\" height=\"555\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/How-Can-Tourists-Open-a-Bank-Account-in-Dubai_.png 1110w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/How-Can-Tourists-Open-a-Bank-Account-in-Dubai_-300x150.png 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/How-Can-Tourists-Open-a-Bank-Account-in-Dubai_-1024x512.png 1024w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/03\/How-Can-Tourists-Open-a-Bank-Account-in-Dubai_-768x384.png 768w\" sizes=\"auto, (max-width: 1110px) 100vw, 1110px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">A tourist too gets the service of open a bank account in Dubai. Not all but there are some banks that allow such offers to the tourists. But it is certain that a tourist can only open a savings account with minimum service options in their hands, which are pre-decided by banks. Even then there are various options of banks available to tourists to choose from. Tourists who are visiting the side of old Dubai can manage to get their hands on the banks available even there.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Other_Bank_Charges\"><\/span>Other Bank Charges<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"height: 1043px;\" width=\"695\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" width=\"143\"><span style=\"font-size: 10pt;\"><strong>Services<\/strong><\/span><\/td>\n<td style=\"text-align: center;\" width=\"119\"><span style=\"font-size: 10pt;\"><strong>Charges<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Charges for opening an account<\/td>\n<td style=\"text-align: center;\" width=\"119\">Not Applicable<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Min. balance<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 3,000<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Monthly min. balance fine<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 25<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Issuing a cheque book<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 25<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">order setup charge for standing<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 50 (Max.)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">order payment for standing dishonoured<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 25<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Management cheque issue charge<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 30<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Account balance Receipt<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 50<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">No liability of certificate<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 100<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Release letter<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 50<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\" width=\"143\">Bounced cheque charge<\/td>\n<td style=\"text-align: center;\" width=\"119\">AED 100<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><strong>More Useful Articles for you :<\/strong><\/p>\n<table style=\"width: 97.0874%; height: 227px;\">\n<tbody>\n<tr>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong>Know The UAE Banking System<\/strong><\/span><\/p>\n<\/td>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/uae-banking-system-accart\">UAE Banking System<\/a><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong>Explore The Best Banks in Dubai<\/strong><\/span><\/p>\n<\/td>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/best-banks-in-dubai-accart\">Best Banks in Dubai<\/a><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong>Guide To Mortgage Rates in UAE<\/strong><\/span><\/p>\n<\/td>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/mortgage-rates-in-uae-lawart\">Mortgage Rates in UAE<\/a><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong>Apply For Personal Loan in the UAE<\/strong><\/span><\/p>\n<\/td>\n<td width=\"301\">\n<p><span style=\"font-size: 10pt;\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\">Personal Loan in the UAE<\/a><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"What_much_is_one_charged_to_pay_while_opening_a_bank_account_in_Dubai\"><\/span>What much is one charged to pay while opening a bank account in Dubai?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tA user is not supposed to pay any charge while opening a new bank account in Dubai.\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"What_are_the_services_that_a_bank_offers_after_opening_a_new_bank_account\"><\/span>What are the services that a bank offers after opening a new bank account?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tThe services that a user can avail after opening a bank account are 24 hours availability of ATM, debit card, credit cards, access to your bank\u2019s branch, facility to make payments of your bill and a cheque book for your account. \t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"What_are_the_types_of_loans_you_can_get_from_your_banks\"><\/span>What are the types of loans you can get from your banks?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tA user can avail various types of loans from their respective banks such as a home loan, car loan, personal loan etc. \t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"What_is_the_different_type_of_bank_account_you_can_open\"><\/span>What is the different type of bank account you can open?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tThere are two different types of bank accounts you can access. These are the savings account and current account.\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"What_is_the_difference_between_a_savings_account_and_a_current_account\"><\/span>What is the difference between a savings account and a current account?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tThe difference between a savings account and a current account is that a savings account is best suited for those users who wish to save their money for dealing with assets and even meeting any unexpected situations. Whereas a current account is best suited for users who indulge in a lot of salary transactions. This bank account helps you to cover the monthly expenses.\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\n<script type=\"application\/ld+json\">\n\t{\n\t\t\"@context\": \"https:\/\/schema.org\",\n\t\t\"@type\": \"FAQPage\",\n\t\t\"mainEntity\": [\n\t\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What much is one charged to pay while opening a bank account in Dubai?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"A user is not supposed to pay any charge while opening a new bank account in Dubai.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What are the services that a bank offers after opening a new bank account?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"The services that a user can avail after opening a bank account are 24 hours availability of ATM, debit card, credit cards, access to your bank\u2019s branch, facility to make payments of your bill and a cheque book for your account. \"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What are the types of loans you can get from your banks?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"A user can avail various types of loans from their respective banks such as a home loan, car loan, personal loan etc. \"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What is the different type of bank account you can open?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"There are two different types of bank accounts you can access. These are the savings account and current account.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What is the difference between a savings account and a current account?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"The difference between a savings account and a current account is that a savings account is best suited for those users who wish to save their money for dealing with assets and even meeting any unexpected situations. Whereas a current account is best suited for users who indulge in a lot of salary transactions. This bank account helps you to cover the monthly expenses.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t\t\t\t]\n\t}\n<\/script>\n\n","protected":false},"excerpt":{"rendered":"<p>The process of &#8220;Open a Bank Account in Dubai&#8221; is pretty straightforward and requires minimum effort. Like any other financial institution, the banks in Dubai also require the submission of some necessary documents, with the minimum amount defined as deposited money for opening a new bank account. In this blog, we will help you discover [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81,60,78,59],"class_list":["post-2360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-dubai","category-fintech","category-uae"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts\/2360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/comments?post=2360"}],"version-history":[{"count":5,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts\/2360\/revisions"}],"predecessor-version":[{"id":53092,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts\/2360\/revisions\/53092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/media\/2361"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/media?parent=2360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/categories?post=2360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}