- October 8, 2021
- Posted by: Nikhil Sharma
- Category: Banks
Opening a bank account in UAE is a choice for non-residents and residents alike, but the specifics are based on the residence position of the person. The non-residents are allowed to open only a savings account. If you are a citizen of Syria and looking for an open bank account then here is good news for you bank account opening for Syria nationality in UAE is permitted now, and you are able to open your bank account in this country. To go ahead you just need to consult with the Taskmaster professionals who will surely help you with the bank account opening and make your process simple and hassle-free in the short possible time.
The UAE is famous, thanks to the nation’s perceived sustainability and relatively liberal banking atmosphere. And while the country is smaller than several other financial hubs, it stands above its weight in terms of privacy, banking, and financial services. As the epicenter of sustainability in the otherwise turbulent Middle Eastern, many of the cities can provide the kind of sustainable banking choices you are searching for.
Make A Call
Chat with us
That stated, banking in the United Arab Emirates as a citizen of Syria comes with limitations. This can be difficult to navigate, and in several cases, a personal visit would be required to open a bank account. Here we explore whether the country can be the most convenient banking center for you. We will discuss the bank account opening procedures as a citizen of Syria.
The Process of Bank Account Opening for Syria Nationality in UAE
If you do not make a plan to get residency in the United Arab Emirates, your bank account opening would be limited. The reason for that is the Syria national account is for the person that has already begun the procedure for acquiring a residency visa. Although, based on the bank, and the banker you request, there is yet many accounts opening facility available for Syrian national that does not intend on setting up in the United Arab Emirates.
Moreover, there are many limitations and restrictions as well that Syrian nationals require to be aware of baking. For instance, many non-residents cannot open checking bank accounts, are not permitted to have checkbooks, and sometimes have restrictive maximum and minimum regulations of account balances. In addition, the Bank of the UAE grants multiple currencies accounts with very main currencies available. Although, there are not available always and you would wish to confirm if the bank grants your desired currencies prior to bank account opening.
Banking in the UAE can be lucrative for some distinct reasons, stability, namely confidentiality, and diversification. But is vital to note that all the banks of the UAE adhere to the CRS and FATCA. In fact, the nation began to participate in the automatic exchange of information. Hence, in case your bank is here, expect your details to be automatically shared with the tax officials in your residence country or home country. In addition, Syrian citizens are highly limited in the kinds of bank accounts and items they can access in the United Arab Emirates. And, these limitations are compulsory by the Central Bank, hence they are something you can interact with within your manner.
Requirements for Bank Account Opening for Syria Nationality in UAE
The needs you have to meet for a bank account opening as a citizen of Syria are –
- Valid passport with the entry stamp of UAE
- Passport photo
- Duly filled application form
- Residency visa proof,
- Emirates ID
- Salary slips
- Letter of recommendation from your last bank
- No Objection Certificate from your employer or the local partner