Benefiting from services such as internet banking, using all the banking services of a global citizen, the possibility of completely safe deposits with profit, having financial facilities such as granting loans to companies, the possibility of currency exchange with dollars, euros, etc. Also, the possibility of receiving a check book and an ATM card are some of the services and facilities that you will benefit from by opening an account in Dubai, and you can use the convenient possibilities of buying a house, car, boat, etc. with bank installments. Also. After a short period of account circulation, you can benefit from the services of obtaining residence in all European countries and Canada
What are the benefits of opening a bank account in Dubai?
The most important advantage of opening an account in Dubai is that most of the world’s reputable and famous financial institutions and banks have branches in the UAE, which is an important advantage for people who intend to keep their capital in reputable banks.
Capital stability
Investors are always worried about economic changes and look for stability in their economic affairs. What is important in this context is having a bank account in the UAE for saving capital and feeling calm during economic fluctuations.
Access to payment channels and banking facilities
When you open a new account in the United Arab Emirates, you get access to a series of payment channels, especially in the UAE as one of the active centers of currency and economic exchanges. These payment channels, the most important of which is the creation of SWIFT code and iBen code, are of special importance for capital owners.
Increase in currency capital and financial circulation
Mainly those who invest and create bank deposits in the Persian Gulf countries. In addition to determining their capital from the currency of the destination country, they fill a part with international currencies, which will increase the value of the capital after some time.
Receive deposit interest
All over the world, some people make deposits in banks to receive interest, and the UAE is no exception to this rule. What is different is the investment deposit interest rate, which determines a reasonable interest for bank account depositors in the UAE.
Why is a commercial license issued but the bank account is not returned?
In order to answer this question, it is necessary to know that the Department of Economics is a government complex in the UAE. Obtaining a corporate bank account requires many approvals, including the approval of the World Bank. This process will lengthen the process a bit.
Therefore, it is not the case that you can simply open a business account just by mentioning that you intend to deposit large sums of money into your account (even under the title of investment). Rather, banks will not consider your desired amount as a priority, no matter how high it is. Rather, for them, the source of income and answers to the questions they will ask you are a priority.
Opening a business (corporate) account
Opening a company or business bank account is only for people who have a personal account in the UAE. It is also necessary that they have worked with this account for at least a few months.
The time required from the start of the work to the opening of the account will be between two weeks and several months later. People who have already registered a company and have a physical office in Dubai should consider this point. In such cases, before opening a bank account, they will be asked questions that they should know the answers to:
What activity do you need a company account for?
Do you have a business account in another country besides UAE?
What will be the amount of money that will be the balance or average balance of your account?
About how much is your business per year?
Do you have a physical office or not?
Do you have an active company phone line?
How many employees are active in your company?
What is your source of income?
And other such questions that the bank may ask you.
In response to the above questions, it is necessary to provide clear and transparent answers. until the bank is completely convinced
For example, failure to answer accurately and clearly about the amount of money you will put in the account, or the amount of your financial turnover, will make the process longer.
Documents required to open a personal account in the UAE
To open a bank account in Dubai and the UAE, you need the following:
Original and copy of passport
Picture
Employee salary certificate
Address of residence by providing property document or lease copy
Copy of payment of the last bills of residence
Valid Emirates ID (ID Card)
United Arab Emirates residence visa
Opening a bank account in Dubai in which banks is a priority:
Institutions such as Al Mashreq Bank, Maria Bank, NBD Bank, HSBC Bank, Abu Dhabi Bank, etc. are among the banks where opening a bank account will be beneficial and appropriate. According to the conditions of each bank, it is also possible to receive loans and checkbooks.
Types of bank accounts
Savings account: A person deposits a deposit in the desired bank to an account in his name, and every month there must be a specific balance in the account.
Current account: they have no limit on the number of transactions and are popular among companies. In these types of accounts, it is possible to transact high amounts systematically.
Salary account: It can be used in companies as an account to which employees’ salaries are deposited.
Fixed deposit: high interest rate is one of the advantages of this type of deposit and this has increased its yield.
Business account: helps businesses to track accounts. Most banks These types of accounts offer free credit cards and customer service is available around the clock.
By opening corporate bank accounts in Dubai, traders, merchants and business owners can manage their business transactions and review payment and receipt reports. As a result, opening a bank account in Dubai is one of the requirements of the company.
