We open personal accounts only for self-employed individuals and high-risk nationalities. Salary accounts and personal loan services are not available

Bank Account Opening In Dubai, UAE

The current economic stability of the United Arab Emirates is very satisfactory for financial institutions such as banks, etc. Most business people are looking for a New Company bank account opening in Dubai, UAE to protect their monetary assets. But sometimes it becomes tough to prepare the documents by yourself.

Then it’s time to consult with Taskmaster consultants in Dubai, UAE they will help you to open a bank account in the UAE and also guide you through all the processes of opening a bank account in Dubai.

The process of opening a bank account in Dubai is stress stress-full task and includes a considerable value of documentation although needs are different from bank to bank. All norms banking services are provided by the Bank of Dubai such as savings, deposits, and current accounts.

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Types of Bank Account Openings in Dubai, UAE

There are many types of bank accounts, that cater to residents and non-residents of the country.

Basic Documents required for bank account opening in Dubai

The necessary documents required to open a bank account in Dubai are:

Services provided by Banks in Dubai

Banks are financial institutions included in lending and borrowing money. Banks collect client deposits in return for paying an annum interest payment to customers. Banks play a crucial role in the economy providing services for those who want to save and also providing finance to business that wants to invest and expand. These business investments and loans are important to enable economic development.

cost of opening bank account

How much does it cost to open a bank account in Dubai?

The cost for opening a bank account in Dubai in case you are an investor who wants to do so –

What truly shocking is that similar to the units of banks in other countries, local banks in the UAE do not collect any costs when opening a bank account in UAE.

There are many minimum monthly average balance classifications for local banks, and all local banks are needed to sustain a minimum monthly estimate balance.

Based on the banks eligibility criteria in UAE, the minimum balance maintenance generally ranges between AED 50k to 500k. For eg. The minimum average balance to be maintained in ENBD is 50k.

Incase you fail to maintain the minimum balance amount you will be penalized between 250 – 500 AED based on the type of account you are holding.

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Minimum salary to open a bank account in Dubai?

For a bank account opening in UAE, you need to find out the minimum salary requirement that banks require. The minimum salary for a bank account opening is different and based on the bank, although, this is generally approx. AED 3,000. This is vital to note that so many banks give new customers sign-up rewards along with other benefits in case they fulfill and are eligible for their account needs. To locate if your chosen bank has any deals, this is worthwhile to check with them.

Types of Banks in Dubai

Commercial banks – A commercial bank gives money for commercial activity, provides loans, and manages the accounts of people and companies.

Industrial banks – This kind of bank supports productive activities.

Investment banks – Investment banks are involved in the selling and purchasing of stocks.

Islamic banks – Islamic banks are becoming more influential now. This kind of bank means that business is to be done according to religious rules.

The Banks in UAE have extended their services to cater consumers wary of Islamic financial needs with Sharia’s banking services. There are 8 full-fledged Islamic banks and 23 Islamic windows formed by traditional banks in the country. As a whole, these units account for 19% of the overall banking sector wealth.

Advantages of Bank Account Opening in Dubai

• Banks in Dubai provide complete secrecy of your personal information.
• Easy and reliable capital transfer in Dubai or out of Dubai.
• Safe and protective online banking and phone banking system.
• Accessibility to international banks and their services.
• Multiple currency exchange options are available.
• Access to personal, commercial, and car loan facilities.
• Offer credit cards
• Reasonable rates of interest.
• More than one currency account.
• Joint account option
• ATM Services
• Rapport manager who would be your direct contact and support.

Eligibility Criteria for Bank Account Opening in Dubai

• Applicant presence is compulsory in Dubai.
• A valid passport is a must with the UAE entry page.
• Applicant’s profile is a must.
• Original reference letter of the bank from the company or personal bank account of the applicant from anywhere in the world.
• Latest 6 months bank statement.
• Most banks in Dubai demand a monthly average balance to open a bank account in Dubai which is based on the bank-to-bank.

Jurisdictions to Open a Bank Account In Dubai

Free Zone – Freezone company bank account opening in Dubai is a bit of a difficult task. But no need to worry as we are here to help you open a company bank account in Freezone.

Mainland – Mainland account helps business owners to track their costs and handle their funds. Taskmaster professionals help business owners in a mainland company bank account opening in Dubai.

Offshore – Offshore banks usually act in the same way as traditional banks but with flexibility. So, if you are wanting, then we will help you with an offshore company bank account opening in Dubai

If you are a foreigner and want to open a bank account in Dubai, UAE then there’s good news for them as Taskmaster professionals provide bank account opening services to other nationalities as well that comprise – AfghanistanIndiaIranIsraelTajikistan, and a lot more, that you can find in our website. So, do not think twice, grab this amazing opportunity, and secure your bank account in Dubai with us.

How HISAB helps you?

Taskmaster consultants will assist you and your company to establish a company and bank account opening in Dubai. Our professionals also help to prepare application forms for bank account opening and banker’s introduction and fixing appointments. We guide you through every step that we take in the process of opening a bank account in Dubai.

If you want to get help with bank account opening in Dubai, UAE then Our professionals at Taskmaster will cover you properly. We understand our clients’ all requirements and we act according to your wishes.

Taskmaster offers our customers a broad range of services about bank account opening in Dubai and maintaining all the processes. We have a team of qualified professionals, who can advise you of the bank that will complete your all business needs.

Frequently Asked Questions on Bank Account Openings in Dubai

How do I open a savings account in Dubai?

To open a savings bank account in Dubai, you may either visit the nearest branch of the bank of your choice or you can apply through internet banking as well.

Opening an SME bank account is simple but the paperwork seems daunting no need to worry, Taskmaster professionals will help you to open an SME bank account in Dubai.

Yes, a foreign tourist can open a bank account in Dubai with the help of Taskmaster professionals who will help you to open a bank account on your behalf.

To open a bank account in Dubai as a student, you have to get your Emirates ID. Provide your all information to us we will help you open a bank account on your behalf.

To open a bank account in Dubai non-residents, you just need to complete the KYC requirements and prepare all the documents. Taskmaster professionals will help you in the process efficiently.

This is not possible as according to UAE law, the application should be present physically in Dubai to confirm the bank account opening in Dubai process as the bank office ask some questions and witness your signature on the application.

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