Opening a corporate bank account for a foreign company It is quite possible to open a bank account in Dubai for a foreign company. In addition, foreign companies can also open business accounts in Dubai, as long as they meet certain requirements. However, this process will be much more difficult than opening a personal account as a non-resident. As mentioned, we'll address this topic in another article.
Since expatriates make up the majority of the Emirati population, there are ways for foreigners to open their bank accounts. The short answer to this question is yes, but there is a fundamental distinction that will determine where you can bank and what types of accounts you can open. That is your state of residence in the United Arab Emirates. Opening an account from outside the country will not be particularly easy, as many accounts require a signature in the presence of a bank official.
Alternatively, you can open an account remotely, giving legal permission to a financial advisor to act on your behalf. Not all banks will accept this solution, so call first to find out. A final option is to use an online bank account like Ally Bank, which offers access to your money anywhere in the world (not having access to a physical office is an obvious drawback). The large non-Emirati population living in Dubai and Abu Dhabi means that banks are used to foreign citizens wanting to open a bank account for non-residents in Dubai.
And in some special cases, members of GlobalBanks Insiders can remotely open a bank account for non-residents in Dubai. Whether you need a bank account for non-residents in Dubai or if you need something to maintain your life there in the long term, you won't be disappointed. If you are staying or visiting the United Arab Emirates and have no intention of applying for residency, you can still open a non-resident bank account in Dubai. In fact, banking in Dubai was predictable and reliable for non-residents, offshore companies, companies from the United Arab Emirates doing business abroad, and various asset protection structures around the world.
What most people don't know (and discover too late) is that accounts for non-residents in Dubai often have restrictions and limitations. There are two other crucial points to keep in mind about the bank accounts of non-residents in Dubai and the other Emirates. Opening a bank account in Dubai from the United Kingdom won't be difficult as long as you have all the correct documentation. Foreign companies also didn't face much scrutiny and didn't need to be present in the United Arab Emirates to open a business account.
The continental company in the United Arab Emirates is the fastest in terms of opening bank accounts, but its annual maintenance is more expensive and requires a local citizen as a sponsor with 51% of the shares or a service agent with 0% of the shares. Both Dubai and Abu Dhabi (the country's two largest cities) are major economic hubs, so regardless of where you choose to stay, there will be plenty of banking options to meet your needs. We are at your disposal to ask us about which companies are the most suitable in the sector depending on the features they offer. For example, a “large initial deposit” will mean something completely different for a private banker in Dubai than for a banker in Panama.
But ultimately, there are strategies that almost anyone can follow to successfully open accounts for non-residents in Dubai.