In this article, we’ll be taking a look at how to open a bank account online in the UAE, including the specific steps you need to take and the requirements you will need to meet to successfully open.
This will include both online applications and remote applications for foreign non-residents.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Open a Bank Account Online in the UAE
- Personal Banking in the UAE
- How to Open a Bank Account Online in the UAE
- Frequently Asked Questions
- Ready to Explore Your Options?
Open a Bank Account Online in the UAE
To open a bank account online in the UAE as a foreign non-resident, you will need to carefully choose banks, be a qualified customer, and navigate challenging account opening requirements. This will include making a large deposit, which may need to be invested by the bank.
Not surprisingly, foreign non-residents who can travel to the UAE to open accounts will have more options available, including some of the more reputable banks in the region. This will include opening accounts with both local and foreign banks as well as a wider selection of accounts to choose from.
Residents of the UAE will have an easier time navigating account opening options. That said, as we have shared in past articles, residents may want to consider opening investment accounts in other countries instead.
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How to Open a Bank Account Online in the UAE
To open a bank account online (or remotely) in the UAE, you will need to select one of the available account opening options. In our experience, the banks that are best suited to foreign non-residents are international banks that cater to each applicant’s client profile. Fortunately, the UAE is home to a number of international banks, including many that are willing to open accounts for foreign non-residents.
Priority Banking in the UAE
Most of these international banks offer priority or premier banking services to foreign non-resident clients. In other words, foreign non-residents looking to open an account remotely will need to make a qualifying deposit. Depending on the bank, priority or premier deposits can range from USD 75,000 to USD 250,000.
Of course, applicants looking to open private bank accounts will be expected to deposit much larger sums, ranging from USD 500,000 to USD 3,000,000.
Personal Banking in the UAE
In most cases, people looking to bank in the UAE are looking for a combination of functional personal banking and premier banking for non-residents or expats.
In other words, they want to open an account in a banking jurisdiction that is separate from where they live and work, while still having access to strong international banks.
The UAE can meet these requirements. However, it may be worth considering all of the other options as well. In fact, in most cases, there are more easily accessible banking jurisdictions with lower deposit requirements for non-residents elsewhere.
Frequently Asked Questions
Below are two of the most common questions that we receive from people looking into how to open a bank account online in the UEA. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can I Open a Bank Account in UAE as a Non-Resident?
Yes, you can open a bank account in UAE as a non-resident. However, there are limited non-resident account opening options available. Additionally, in most cases, non-residents will need to visit the bank in person in order to open accounts. However, in certain cases, remote opening is possible. That said, in order to open accounts remotely, non-residents will be expected to make a large qualifying deposit.
How Can I Open a Bank Account in the UAE From Overseas?
To open a bank account in the UAE from overseas, you will need to apply with a bank that allows non-residents to open accounts remotely. Unfortunately, there are only a handful of banks that allow this as an option. Additionally, non-residents looking to open accounts from overseas will need to make a large deposit. In most cases, this will require premier or private banking and may involve discretionary account management.
Ready to Explore Your Options?
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