Main steps to open a personal or business bank account in Dubai

Damalion is the leading platform that helps:

• foreign non-residents to open a bank account in Dubai
• foreign non-resident corporations to open a corporate bank account in Dubai.

Dubai is one of the most significant financial centers in the Middle East and this has reflected in its banking area. Several professionals in the banking sector had claimed that Dubai is a favorable banking haven for people and businesses from around the world. 

Dubai’s banking system offers a friendly environment to foreign investors

The Dubai banking system is suitable for everyone and it welcomes everyone. And once you’ve opened a Dubai bank account, you are likely to receive interest rate (which varies from bank to bank), access to ATM/debit card, a 24-hour ATM facility, access to a branch, bill payment facilities, and a first free cheque book (exclusively for residents) 

If you have just moved to Dubai and want to bring your finances in order, you’ll be delighted to know that the process to open a bank account in Dubai is reasonably simple. 

Whether you need a non-resident bank account in Dubai or something to support your financial life there, you won’t be disappointed.

Requirements for opening a bank account in Dubai for residents 

If you are a resident, you can open a bank account in Dubai following the process outlined below. 

Select the applicable bank 

Choosing the relevant financial institution is a significant and crucial task that has to be done carefully. If you are opening a personal or business bank account in Dubai, some banks may require you to maintain a minimum balance. Also, if you want to open a salary account, it’s best to ask your company about the bank they work with.

Select a bank account type 

When you are planning to open a bank account in Dubai, you can decide whether to open a Current Account or Savings Account. 

• Current accounts: these accounts are primarily used for salary transactions, but they are also ideal for everyday transactions and transfers and they come with checkbooks. Generally, banks in the UAE offer two kinds of current accounts, with and without salary transfers. 
• Savings accounts: these accounts are better fitted to those who want to save money for assets and to deal with any unanticipated circumstances. These accounts generally offer higher interest rates than current accounts, but may have restricted access to funds, and presume penalties for withdrawals. 

Submit the required documents to Dubai bank 

Whether it is a Savings or Current Account, the following documents are required. 

• passport 
• no-objection letter 
• visa (for new arrivals to the UAE) 
• Emirates ID card 
• document that states your salary 
• proof of address 

If you are still waiting for your Emirates ID, you can use a copy of your application.

However, Damalion helps you open a bank account even if you are a non-resident without visa.

Opening a personal bank account in Dubai as a non-resident foreigner 

With expatriates making up most of the Emirati population, the country’s economy and banking systems are well set up to cope with foreign workers opening bank accounts. 

But a non-resident will not receive a checkbook, in its stead, debit cards will be issued and can be used to withdraw or deposit funds at ATMs. The Dubai bank will also verify the applicant’s documents before opening the account. 

Opening an account from outside of the country will not be especially easy, as many accounts require a signature in the presence of a bank officer. Alternatively, it can be remotely opened by giving a financial advisor legal approval to act on the owner’s behalf. Note that not all banks will accept this solution. 

The documents required to open a non-resident account in Dubai 

Here is a list of documents required to open a non-resident bank account in Dubai 

• valid passport 
• utility bills (gas bill, electric bill not older than 3 months)
• copy of the last six months of the customer’s bank statements 

Opening a corporate bank account in Dubai 

If a bank account is required for commercial reasons, the owner needs to establish a company first and then open the account. 

While the requirements of opening a corporate account differ from bank to bank, the presence of a director and shareholder is necessary. 

Expats in the market for corporate accounts require an extra set of documents. While these documents vary according to the bank and type of company, they might include the following: 

• Company trade license 
• Certificate of registration 
• copy of the passport of the director 
• Share certificates 
• The company’s Existing contracts 
• The Company memorandum and articles of association 
• The company’s corporate documents 
• Passport and visa copies for shareholders and authorized signatories 
• Disclosure of the type of business activities and the company’s source of funds.

Here are the main processes for opening a bank account for corporate use in Dubai: 

• Filling out an application form, mentioning detailed company records. 
• Once the application is approved, the bank will verify information about the company’s management team and financial projections. Followed by an interview. And once this stage is completed, the corporate bank accounts will be opened. 

There might be a monthly average balance requirement which varies depending on the type of bank selected. Make sure to check and confirm with the bank to know the accurate figures. 

Note that after opening a bank account in Dubai, there might be miscellaneous bank charges attached.

Do you need help opening a bank account in Dubai, either for yourself or for your company? If so, let’s go ahead together and contact your Damalion expert now. 

Main steps to open a personal or business bank account in Dubai — who is eligible, simple document list, remote onboarding options, expected activity, sector/country checks, and a clear path from first contact to account use.

For individuals, entrepreneurs, family offices, holding companies, SPVs and international groups • Damalion helps you prepare a complete file so banks can review efficiently. Final approval remains the bank’s decision.

Last updated:

What makes Dubai bank onboarding faster?

Pick the right account type (personal or corporate), explain the use of the account, and provide clear source of funds papers. State expected payments: amounts, currencies, countries, and main counterparties. Keep answers short and consistent.

Documents most banks ask for

• Valid passport and recent proof of address.
• UAE visa and Emirates ID (or application receipt if still in process).
• Tax residency and status (TIN; FATCA/CRS where relevant).
• Source of funds proof: salary, business income, dividends, capital gains, inheritance — with traceable documents.
• For companies: trade licence, certificate of registration, articles, shareholder/UBO chart, authorised signatories, business description.
• Expected activity for 12 months: incoming/outgoing ranges, currencies, countries, typical counterparties.
• Certified translations and attestations if requested by the bank (see FAQ on legalisation).

Account types at a glance

Topic	Personal	Corporate
Use	Salary, savings, investments	Operations, suppliers, payroll, clients
Documents	ID, address, visa/Emirates ID, tax, source of funds	As personal + licence, registration, UBO chart, signatories
Minimums	Varies by bank; some require minimum balances	Monthly fees and minimum balances are common
Timeline	Faster when the file is complete and consistent	Depends on sector, countries and transaction pattern

Step-by-step — from contact to first payment

1. Choose the bank and account type. Match purpose, minimums and fees to your use case.
2. Prepare the documents. ID, address, visa/Emirates ID, tax status, source of funds; add company papers if corporate.
3. Describe payment flows. Give simple ranges for amounts, currencies, countries and counterparties.
4. Reply to compliance questions. Keep one clean trail of evidence.
5. Activation and first funding. IBAN is set, test payments clear, user rights are assigned.

Costs and typical timing

• Setup fee, monthly fee, payment and card fees (vary by bank and tier).
• Personal accounts may have minimum balances; corporate accounts often do.
• From complete file to active account: a few days to a few weeks, depending on profile and follow-ups.

Related reading

• Open a personal or business bank account in the UAE
• How to open a bank account in Dubai as a non-resident
• Opening a UAE bank account from abroad (non-residents)
• More articles on bank accounts

Frequently asked questions

1) Can non-residents open accounts in Dubai?

Yes. Banks accept non-resident clients when the profile is clear and documents are complete. Features may be limited (for example, no chequebook for some non-resident savings accounts). Decisions are case-by-case under each bank’s risk policy.

2) What is “source of funds” and how should I evidence it?

It is proof of how the money was earned and moved (salary, business income, dividends, capital gains, inheritance). Provide contracts, payslips, tax returns, audited accounts, bank statements and sale agreements as applicable. Documents must be traceable and consistent.

3) Are there limits on non-resident personal accounts?

Many banks allow only savings accounts for non-residents, with debit card access and no chequebook. Minimum balance rules and higher fees may apply. Terms differ by bank.

4) What corporate documents do banks usually ask for?

Trade licence, certificate of registration, articles, shareholder/UBO chart, specimen signatures/board resolutions, authorised signatories, business plan or activity description, and proof of source of funds for the company and UBOs.

5) Is remote onboarding available?

Several banks support online or video identification for certain profiles. Some may still request a physical meeting before final activation. Availability varies by bank and risk category.

6) Do I need document legalisation or apostille for UAE banking?

The UAE is not a party to the Apostille Convention. Foreign public documents commonly require consular/legalisation steps and, where asked, certified translations. Follow the bank’s list for the accepted form.

7) How does FATCA/CRS affect onboarding?

Banks must collect tax self-certifications and report under FATCA (for US indicia) and the OECD Common Reporting Standard (CRS). Provide accurate tax residency and TIN details for all relevant jurisdictions.

8) Have AML/CFT expectations changed recently in the UAE?

Yes. The UAE strengthened AML/CFT controls. In February 2024, FATF removed the UAE from its “grey list.” Banks continue to apply enhanced due diligence where required.

9) What is the UBO rule in the UAE?

Most UAE entities must maintain and file a register of Ultimate Beneficial Owners. Banks will align KYC with this framework and may request UBO proofs and declarations.

10) Do free zone companies face different banking checks?

Banks look at the real activity, location of management, and customer/supplier footprint. Free zone licences are accepted when the business purpose and expected flows are coherent and documented.

11) Which sectors face extra scrutiny?

Cash-intensive activities, complex cross-border flows, crypto-linked models, MSBs, high-risk jurisdictions, and any sanctions exposure are likely to trigger enhanced due diligence.

12) How are sanctions and PEP cases handled?

Banks screen against UN/EU/OFAC and local lists and apply enhanced checks for politically exposed persons (PEPs) and sanctioned parties. Extra documents and approvals may be required. Approvals are strictly case-by-case.

13) What languages are accepted for documents?

English and Arabic are widely accepted. Other languages may need certified translation and legalisation upon request.

14) How are UAE IBANs structured?

UAE uses IBAN for domestic and international payments. You will receive an IBAN when the account is opened and activated.

15) How long does onboarding take after submission?

When the file is complete and responses are prompt, it can take from a few days to a few weeks. Timelines depend on profile, sector, and follow-ups.

16) Why can a bank decline a file?

Each bank applies its own risk policy. Reasons include incomplete documents, unclear source of funds, sanctions or PEP considerations, sector or country risk, or business activity outside appetite.

17) Can companies hold multi-currency accounts?

Yes. Multi-currency accounts and dedicated sub-accounts are common. Availability depends on the bank and the client’s needs.

18) Are chequebooks still used?

Yes, mainly for resident current accounts. Non-resident savings accounts often do not include chequebooks.

19) How do recent UAE corporate tax rules affect bank onboarding?

Banks may request a tax profile for corporate clients. UAE corporate income tax applies for financial years starting on or after 1 June 2023, with standard 9% above the statutory threshold, and a domestic minimum top-up tax for large multinationals from 2025.

20) What should I do before first funding?

Confirm channel limits, user roles and approvals, and run small test payments. Keep records aligned with your stated payment flows to avoid alerts.