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Opening a Bank Account in Dubai

Hi, Sunil here to help you open a bank account in Dubai

This is not a desire or a want, it is a need and everyone must have a Dubai bank account.

The banking system is the backbone of any and every solid economy around the world.

It is the channel through which we all conduct business today.

There are no exceptions to this.

Banks in Dubai are no different.

Below are some of the services offered by most Dubai banks:
  • Personal Loans
  • Business / Investment Loans
  • Personal Vehicle Loans
  • Credit Cards
  • Mortgages / Home Loans
  • Online Banking
  • Commercial Lending (automotive dealership financing etc)
  • Commercial Finance (construction and asset backed lending)
  • Customer Deposits (savings, CDs, etc)

There are multinational banks in Dubai as well as local banks. Below is a list of some of the bigger ones of each (names as of 2007):

Multinational Banks in Dubai

  • Citi Bank
  • Barclays Bank
  • ABN-Amro
  • HSBC
  • Standard Charted Bank
  • Lloyds TSB

Local Banks in Dubai

  • National Bank of Dubai
  • Dubai Islamic Bank
  • Emirates Banking Group
  • Mashreq Bank

Opening a Bank Account in Dubai?

Visitors cannot open a bank account. You will need a resident visa to open a Dubai bank account. If you work in Dubai or are hired by a Dubai employer and have to go there to work, your company should be able to arrange a bank account for you. Most companies already deal with a preferred provider for their employees. I highly recommend this route if you want to avoid the hassle.

Anyone else can simply apply at any bank. For example, if you do not work but own a property in Dubai and therefore have a residents visa, you can still apply to open bank account.

Two major documents are needed. Your passport with a visa stamp showing residency in Dubai as well as a letter of employment with your salary figure from your employer. I recommend making several copies of this letter and keeping it safe at home. You will need it for other things as well (i.e. applying for a credit card).

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