How non-residents can open a bank account in Dubai

Whether you are thinking of moving to the Dubai for work, or you are interested in creating a company or planning to invest there, having a bank account will be necessary. 

Having a bank account in Dubai offers numerous advantages for the corporate as well as for individual sectors. It opens up a gate of opportunities and provides and eases your trading or service needs both globally and locally. 

As both businesses and individuals require an effective and functional financial instrument to solve any kind of problem for making money transfers, a bank account will be necessary in Dubai.

Beneficial features of a bank account in the UAE

If you open a bank account in Dubai, you can manage your private finances, and do your company’s local as well as global transactions. 

Bank Accounts in Dubai

Foreigners can open a bank account in Dubai in either of the two categories – personal or corporate.

Personal bank account for Non-resident in the UAE

If you are a non-resident of the UAE, you can open a personal bank account but with certain restrictions on the choice of banks as well as the characteristics they offer. 

Most banks in Dubai allow non-residents to open only savings accounts and not current accounts. Generally, non-residents are given a credit card to withdraw money but they are not qualified to obtain checkbooks. Also, non-residents are subjected to a minimum or maximum balance.

Requirements to open a personal bank account for non-residents 

Most banks in Dubai impose a minimum monthly average balance for opening a non-resident personal account in UAE.

Corporate bank account in UAE

If you require a bank account for your Dubai business purposes, you will have to open a company account. You have two primary options to choose from in Dubai: 

Both companies are 100% foreign-owned.

The requirement to open a corporate account in UAE

KYC Requirements

All UAE banks are regulated by the UAE Central bank and to meet global standards and requirements, the UAE Central Bank has placed a KYC (Know Your Customer) policy. It is a regular procedure that UAE banks will ask you specific questions and remark on your account transactions before you can open your personal or corporate account.

Whether it’s a personal bank account or a corporate bank account in Dubai, we can help you in opening one. Contact your Damalion expert now to open your UAE bank account. 

Opening a UAE bank account from abroad (non-residents) — who qualifies, clear documents (ID, address, tax, source of funds), remote onboarding options, payment flows, sector/country risk, and a practical path from first contact to activation.

For individuals, entrepreneurs, family offices, holding companies, SPVs and international groups • Damalion helps with scoping, file preparation and provider coordination so banks can review efficiently. Acceptance is always the bank’s decision.

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What helps UAE bank onboarding go faster?

Pick the correct account type (personal or corporate), show source of funds with documents, and describe expected use in simple terms: purpose, amounts, currencies, countries and counterparties. We prepare a clean, consistent file so compliance can complete KYC/AML checks without delays.

Documents most banks in the UAE ask for

• Valid passport and recent proof of address.
• Tax residency and status (TIN; FATCA/CRS where relevant).
• Source of funds proofs: salary, dividends, company sale, capital gains, inheritance — with traceable records.
• For non-residents (personal): passport with UAE entry stamp (if available), application form, bank reference, employer letter or profile of professional activity.
• For companies: trade licence (mainland or free zone), certificate of incorporation, articles/MoA, shareholder register, UBO chart, board/signatory powers, business description and expected transactions.
• Certified translations and attestations/apostilles where a bank requests them.

Account types at a glance

Topic	Personal (non-resident / resident)	Corporate (mainland / free zone)
Use	Savings, custody, everyday banking (limits for non-residents)	Operations, suppliers, payroll, client receipts
Documents	ID, address, tax status, source of funds, bank/employer letter	As personal + licence, incorporation set, UBO chart, signatory rules
Minimums	Often a minimum balance; fees vary by bank	Monthly fees and activity test; minimum balances common
Timeline	From a complete file to activation: days to weeks	Varies with sector risk, countries and payment pattern
Channels	In-person; some banks support video KYC and couriered signatures	In-person for signatories; some digital onboarding elements possible

How the process works

1. Bank selection. Match purpose, features, fees and minimums to your case; shortlist suitable banks.
2. Prepare the file. ID, address, tax status, source of funds; company papers if corporate.
3. Explain expected activity. Monthly volumes, currencies, countries, counterparties for the next 12 months.
4. Compliance checks. KYC, sanctions, PEP and AML review; answer follow-ups promptly with one clean evidence trail.
5. Activation. Account details issued, access set up, test payments completed.

Costs and timelines

• Setup fees, monthly account fees, payment/card fees (vary by bank and account tier).
• Minimum balance rules are common; falling below may trigger fees.
• From complete submission to active account: a few days to a few weeks, depending on profile and bank.

Related reading

• Opening a UAE bank account from abroad 
• More articles on bank accounts

Frequently asked questions

1) Can a non-resident open a personal account in the UAE?

Yes. Banks may allow non-resident savings accounts with limits. Current accounts usually require UAE residency (visa and Emirates ID). Each bank applies its own risk policy.

2) Is in-person signing always required?

Many banks require at least one in-person identity verification or witnessed signature. Some banks use video KYC and couriered signatures when their policy allows it.

3) Which core documents are checked for individuals?

Valid passport, recent proof of address, tax status (FATCA/CRS where applicable), and documented source of funds (salary, dividends, sale proceeds, inheritance, etc.).

4) What extra documents do companies need?

Trade licence, certificate of incorporation, MoA/AoA, shareholder/UBO register, signatory powers/board resolution, business description, and expected payment flows.

5) Will banks ask for attestations or apostilles?

Yes, if required by the bank’s policy. Foreign documents may need notarisation and UAE Embassy/MoFA attestation or apostille, depending on origin and bank rules.

6) How do banks assess tax information?

Clients provide tax residency and any US indicia for FATCA; banks collect self-certifications for CRS. Clients remain responsible for their tax compliance.

7) How is source of funds reviewed?

Banks verify how funds were earned and transferred using contracts, payslips, audited accounts, bank statements and other traceable documents.

8) Are PEP and sanctions checks applied?

Yes. Banks screen for politically exposed persons and sanctions. Higher-risk cases face enhanced due diligence and may be declined.

9) Can foreign companies (including free zone entities) open accounts?

Yes, subject to genuine activity, licencing, UBO transparency and acceptable payment flows. Requirements vary by bank and sector.

10) What are common minimum balance rules?

Many accounts require a monthly minimum balance. Falling below may incur fees. Levels differ by bank and account tier.

11) Which currencies are available?

AED is standard. Multi-currency accounts are common (e.g., USD, EUR, GBP), subject to bank offering and risk policy.

12) Are cards and online banking provided to non-residents?

Non-resident accounts may include debit cards and online banking. Cheque books are typically for resident current accounts only.

13) How long does onboarding take?

Once the file is complete, onboarding may take from a few days to a few weeks, depending on due diligence outcomes and responsiveness to follow-ups.

14) What if documents are not in English or Arabic?

Banks may request certified translations. Some may also require notarisation and attestation for foreign-language documents.

15) Can an account be declined without detailed reasons?

Yes. Approval is discretionary under each bank’s risk framework and applicable regulations. A different bank may be a better fit for the same profile.

16) What happens if false information is given?

Providing false or misleading information can result in rejection, account closure, reporting to authorities and other legal consequences under UAE law.

17) Are there sector or country risks that slow onboarding?

Yes. Higher-risk sectors, complex ownership, cash-intensive activity, or exposure to higher-risk countries usually trigger enhanced checks.

18) Can accounts be opened fully remotely?

Some banks allow remote steps (video KYC, digital forms). Many still require in-person verification for final activation or for corporate signatories.

19) What should companies prepare about transactions?

Clear 12-month estimates of incoming and outgoing payments, currencies, countries, typical counterparties, and a rationale for the UAE account.

20) Who should give legal or tax advice?

Banks do not give legal or tax advice. Clients should seek independent advisors for legal, tax and accounting matters in relevant jurisdictions.