How to Open a Bank Account in Dubai As a Non-Resident

If you’re gearing up for an extended stay or are moving to Dubai, it’s only natural to feel a cocktail of excitement, curiosity, and even a touch of doubt. One crucial task you shouldn’t overlook is opening a bank account in Dubai to ensure easy access to your finances. 

The type of account you can open will depend on your residency, as non-residents have limited options. With Dubai and Abu Dhabi as major economic hotspots, you’ll be spoilt for banking choices, whether you need a non-resident savings account in Dubai or something more long-term.

This guide will help you navigate the process of opening a bank account in Dubai as a non-resident and selecting a bank that aligns with your needs.

Do I Need to Have a Bank Account If I Live in Dubai?

It’s not a legal requirement to have a bank account if you live in Dubai, but it’s highly recommended to help manage daily finances. Under the Wage Protection System, you will need a bank account if you work in Dubai so your employer can pay you. It’ll also make it easier to pay bills, rent, and other expenses. It’s often essential to have a local bank account if you plan to buy a house in Dubai with a mortgage or take out any other loan.

Can Non-residents Open a Bank Account in Dubai?

Yes, non-residents can open a bank account in Dubai, but the account options are limited compared to residents. Non-resident accounts are typically savings accounts, as current accounts are only available to UAE residents. 

Before you become a resident, you can set up a savings account for the time being. To gain access to a current account, you’ll have to show evidence of your resident status by providing your Emirates ID along with your residence or work visa and a UAE phone number.

Types of accounts available to non-residents: 

• Savings Accounts
• Multi-currency Accounts
• Offshore Accounts 

Documents needed for non-residents:

1. Copy of your passport showing the UAE entry stamp
2. Proof of UK address in the form of a utility bill or bank statement
3. Bank reference letter from your UK bank 
4. Proof of income through a payslip or tax return
5. A minimum deposit of typically between AED 3,000 and AED 25,000 (£660 – £5,500) but varies by bank

Some things to consider when opening an account as a non-resident: 

• You may be faced with a higher minimum balance
• Certain banking features may be restricted compared to resident accounts.
• Most banks require you to visit a branch in person to open the account.

How to Open a Bank Account in Dubai as a Foreigner

Opening an account from outside the country may not be a walk in the park, but it is possible. Here are the options for foreigners opening a savings account in Dubai:

1. Traditional Banks (In-Person Visit Required)

If you want to open a savings account with a traditional, bank, such as Emirates NBD, ADCB, Mashreq, and Standard Chartered, you will need to visit the bank to complete sign-up and verification. 

2. International & Offshore Banks (Some Allow Remote Opening)

• HSBC Middle East – If you’re an HSBC customer in another country, you might be able to open a UAE account remotely.
• Standard Chartered – Offers remote account setup for priority banking clients.
• Mashreq Neo & Liv. by Emirates NBD – Some digital banking services may allow remote applications but usually require UAE residency.

3. Offshore Bank Accounts (Remote Possible)

Some UAE banks offer offshore accounts that can be opened remotely, but these typically require a high minimum deposit (AED 100,000+).

Documents Required to Set up a Bank Account as a Dubai Resident

For those with a residence visa, the process is straightforward. You’ll be able to leave the bank with an active account. Residents can open both savings and current accounts. The standard documents required for opening a personal account include:

• Copy of your passport
• Your Residency Visa
• Your Emirates ID
• An original copy of the last six months of your personal bank statements from anywhere around the globe or your home country
• Copy of a utility bill for proof of address

Some banks may require other documents, including but not limited to:

• An original copy of a reference letter from your bank where you have a personal/corporate account from your country of origin or any other country
• An updated curriculum vitae (CV)
• A letter of employment

For those in the process of becoming a resident, obtaining some of these documents might be tricky. However, given the large expatriate population in the UAE, most banks are accustomed to opening accounts for non-residents. For example, Citibank allows customers to present the registration form as proof that documentation is under process. 

If you plan to open a business account, again, further documentation may be required, such as:

• Valid trade licence
• Certificate of incorporation
• Shares certificates
• Company memorandum
• Articles of association
• Passport copies of shareholders & shareholders’ signatures

Each bank will have different requirements, so the information here should only be used as a guide. Your chosen bank will inform you of the exact documentation required for your application and will be happy to assist with any issues that may arise.

Why Open a Dubai Bank Account?

Relocating to a new country involves numerous logistical challenges, and managing your finances efficiently should be a priority. Here are some compelling reasons to open a Dubai bank account:

Ease of transactions: Having a local bank account simplifies daily financial transactions. This includes receiving a salary, paying bills, or simply managing your daily expenses.

Access to financial services: UAE banks offer a range of financial services that might not be readily accessible with an overseas account, such as personal loans, credit cards, or mortgages.

Currency advantages: Opening a bank account in Dubai allows you to handle transactions in the local currency, avoiding possible exchange rate fluctuations and conversion fees tied to foreign accounts.

Online banking facilities: Many UAE banks offer comprehensive online banking platforms, making it easy to manage your money from anywhere at any time.

Attractive interest rates: Some UAE banks offer competitive interest rates for savings and deposit accounts, which can be a lucrative opportunity for growing your savings.

How Much Money Do I Need to Open a Bank Account in Dubai?

As a non-resident, you will need a minimum deposit to open a bank account. Here are some of the minimum balances needed from popular Dubai banks:

Bank	Minimum Balance	Remarks
Emirates NBD	AED 3,000 – AED 50,000	Depends on account type
Mashreq Bank	AED 10,000 – AED 100,000	Non-resident accounts require higher balances
ADCB (Abu Dhabi Commercial Bank)	AED 5,000 – AED 50,000	Multi-currency options available
HSBC Middle East	AED 100,000	Priority banking options available
Standard Chartered	AED 25,000 – AED 100,000	Premium services for higher balances

Can I Open a Bank Account in Dubai Without an Income?

Certain banks will require a minimum monthly deposit, which is mainly for current accounts for residents. Most banks will need to see proof of income for you to open a bank account in the first place, regardless of whether you require a monthly minimum deposit or not. If you’re a non-resident, you can open a savings account without having an income, making it ideal for non-income earners, including non-residents, students, and freelancers.

Can I Open a Dubai Bank Account Online?

Yes, you can open a bank account online in Dubai, but the process and requirements depend on your residency status and the type of account you want to open.

For UAE Residents:

Many banks allow residents to start the account opening process online, but you may still need to visit a branch for final verification. Requirements typically include:

• Emirates ID
• Passport with residence visa
• Salary certificate (for salary accounts)
• Proof of address (DEWA bill, tenancy contract, etc.)

Some banks, like Emirates NBD, Mashreq, and ADIB, offer digital account opening via their mobile apps.

For Non-Residents:

Non-residents can open accounts remotely with select banks, but options are limited to savings accounts (not current accounts). Requirements usually include:

• Passport copy
• Proof of address (utility bill or bank statement from your home country)
• Bank reference letter
• Minimum deposit amount (varies by bank)

Banks like RAKBANK, Emirates NBD, and Mashreq allow non-residents to open accounts online or via relationship managers.

Choosing the Right Bank in Dubai

When planning for a long-term stay in the UAE, consider using a national or local bank for greater access and control over your money. Here are some of the most popular banks in the UAE, along with key features of their current accounts:

1. Emirates National Bank of Dubai (Emirates NBD):

• Offers a Standard Current Account with a free debit and credit card
• Accepts account opening with any approved foreign currency
• Provides an easy-to-use mobile application and pre-approved overdraft services
• 900+ ATMs and 220 branches

2. First Abu Dhabi Bank (FAB):

• Offers a Personal Current Account, which requires residency to apply
• Offers a free MasterCard debit card and premium lounge access at certain airports
• Boasts 630+ ATMs and 120 branches

3. Abu Dhabi Commercial Bank (ADCB):

• Provides the ADCB Current Account, perfect for those seeking financial flexibility
• Offers free internal transfers, a mobile application, and a host of online banking options
• 430+ ATMs and 48 branches

4. Dubai Islamic Bank (DIB):

• Provides the DIB Al Islami Current Account, which comes with bill-paying facilities for DEWA or SEWA (water and electricity) utilities and a free chequebook
• 90 branches in the UAE

5. Abu Dhabi Islamic Bank (ADIB):

• It offers a current account with higher withdrawal limits and an easy-to-use mobile app.
• 500+ ATMs and 60 branches

You’ll also find some well-represented international banks in Dubai/UAE, such as:

• HSBC – 24 branches in Dubai
• Standard Chartered Bank – 40 ATMs and 4 branches in Dubai
• Citibank – 11 branches in Dubai
  

Bank Charges and Other Considerations

While you can use many of your chosen bank’s ATMs free of charge around the country, one important charge to be aware of is tied to minimum balance requirements. 

The minimum balance for several of the accounts mentioned above is around 3,000 United Arab Dirham (AED), which is about £603. Incurring charges from dipping below this balance can be hefty, so it’s good practice to monitor your account balance regularly and understand your bank’s charge system.

There are alternative accounts called Zero Balance accounts that do not have a required minimum balance. According to bankbychoice.com, the best banks for zero-balance accounts in the UAE are:

• Mashreq Happiness Account
• ADIB Smart Banking Account
• Commercial Bank of Dubai(CBD) ESaver Account
• First Abu Dhabi Bank (FAB) iSave Account
• RAK Bank Fast Saver Online Account
• HSBC Esaver Account
• Emirates NBD Liv. Account
  

Additional resources:

• Pros and Cons of Living in Dubai
• Moving to Dubai – Expat Case Study
• Cost of Living in Dubai

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Disclaimer: The information contained in this article is provided for informational purposes only and should not be construed as financial advice on any subject matter. We are not financial advisors and we do not purport to advise on financial matters. The content herein is meant to be used as a general guide and does not take into account individual circumstances. It should not be relied upon for making financial decisions. All readers are advised to conduct their own independent research and/or speak with a qualified financial advisor before making any financial commitments. We will not be liable for any loss or damage, including without limitation to, any loss of profit which may arise directly or indirectly from use of or reliance on such information.