Nonresident Personal bank account in Dubai and UAE

There are various situations and reasons why you may need to open a personal offshore bank account, and this is the case when the account in Dubai, UAE may be the best solution. It is important to note that when we use the term ”offshore,” we mean that you open an account outside of the country of your main residence. Such country for account opening can be, for example, Switzerland, UK, UAE, Singapore, etc. The reasons why you may need to open an offshore personal account abroad can include such scenarios as:

• Safekeeping your money in the stable country with a reliable banking system
• Obtaining useful and practical solution for your international banking requirements – getting and receiving payments, making deposits, etc.
• You have a property in Dubai or plan to buy it. For such purposes, you would definitely need a current or savings bank account for the processing of the purchase and the following property administration. Another property-related case when you will have to open a personal/individual account in Dubai – if you have a property in the United Arab Emirates and want to sell it. As according to the UAE Land Department regulations applicable since 2017, the sales-purchase price for the property has to be provided in the form of the personal cheque issued in the name of the seller. Such cheque can be deposited on your personal account only.
• Having easy and global access to a reliable and comfortable banking solution for you and your family. The offshore type of the account may be the best option for it.

Benefits of Individual Bank Account:

The United Arab Emirates is branded for its stable and secure banking system thus opening a personal resident, or non-resident bank account in Dubai is the solution which gives you best benefits. Such advantages include:

• High trustworthiness and safety. The banking system of the UAE is highly regulated regarding the requirements to the banks thus is highly secure.
• Global access – as the banks are very high-tech oriented you have a number of ways to access your individual over secure and developed internet and telephone banking.
• 24-hours service – most of the UAE banks have the round-the-clock client support service.
• Large selection of banks and current and savings offshore banking solutions thus you always find the right one for you

Documents required – to open an individual bank account in Dubai

There are standard documents which are required for opening of your offshore account in a UAE bank. Such documents include

• Passport copy and, if applicable, your UAE residency visa.
• Bank reference letter (or bank statement) from your individual account from another bank.
• Utility bill ( the bill for water, electricity, etc. with the indication of your residential address).
• Your professional cv – with the short description of your professional activities.
• Other supporting documents which may be requested, for example, if you inform the Dubai bank that you would receive dividends form your business – documents on such business if you get money from sale or rent of a property – documents on such property.

As you can see, the list of required documents is typical when compared with banks in other international offshore jurisdictions whereby provides you all the benefits of current and savings account you expect from it as a resident or non-resident.