open a bank account in Dubai

I want to open a bank account in Dubai, what materials do I need to submit, how much does it cost and how long does it take? Do I need to go to Dubai by myself? Which banks can handle it ?

Opening a bank account in Dubai as a non-resident or business owner typically requires specific documentation, involves fees, and may take some time. Here's a breakdown:

1. Required Materials

For Individual Accounts:

Passport copy: Valid passport with visa stamps (if applicable).

Proof of address: Recent utility bill or rental agreement from your country of residence.

Proof of income or financial documents:

Bank statements (last 6 months).

Salary certificate (if employed).

Reference letter: From your home bank.

UAE residence visa (optional): Some banks require a residence visa, but others may open accounts for non-residents.

For Corporate Accounts:

Trade license: Copy of your UAE-registered company's trade license.

Memorandum of Association (MOA): Stating company ownership and structure.

Shareholder details: Passport copies of all shareholders.

Proof of address for shareholders.

Corporate bank statements: Typically for the last 6–12 months.

Company profile: Detailing your business activities, operations, and plans.

2. Costs Involved

Account opening fees: Range from $200 to $1,000, depending on the bank.

Minimum deposit/balance requirement:

Non-resident accounts: Typically $5,000–$50,000 minimum balance.

Corporate accounts: $10,000–$100,000, depending on the bank.

Additional fees:

Documentation attestation costs.

Courier fees for submitting documents.

3. Processing Time

Personal accounts: Typically 1–2 weeks for non-residents.

Corporate accounts: 2–4 weeks, depending on the complexity of your business.

4. Do You Need to Visit Dubai?

For some banks, personal presence is required to verify identity and sign documents. However:

Some banks allow remote account opening via authorized agents or representatives.

You may need to visit Dubai for account activation, even if the application is submitted remotely.

5. Recommended Banks in Dubai

For Non-Residents:

Mashreq Bank

Emirates NBD

RAK Bank

For Corporate Accounts:

HSBC UAE

ADCB (Abu Dhabi Commercial Bank)

FAB (First Abu Dhabi Bank)

Each bank has different policies, so it's good to contact them in advance to confirm requirements.