Many people looking to invest in Dubai wonder how they can open a bank account if they are not residents. Fortunately, there are options available, even for those without a residence visa.
The first option is to set up a company in Dubai. Once you register yourself as a shareholder of your own business, you can apply for an Emirates ID. This process typically takes around 15 days on average. Once you have received your Emirates ID, you can open an account with most banks in Dubai.
This is a popular route for entrepreneurs who wish to do business in Dubai more frequently.
There are also options for a bank account without a company
The second option is somewhat simpler, but does have some limitations. Some banks in the United Arab Emirates offer the possibility for non-residents to open a bank account, even without a chequebook. However, you must be physically present in Dubai to complete the process.
This option is particularly useful for people who do not wish to start a business but require a local bank account. This includes investors who have purchased a property or individuals who spend time in Dubai regularly.
In both cases, the rules can vary from bank to bank, so it is advisable to conduct thorough research beforehand or consult an advisor.
Edward Clarke is a seasoned property expert with extensive experience in international real estate investment, with a particular focus on Dubai’s fast-growing property market. Drawing on both personal investment experience and years of client advisory work, he helps investors make informed, realistic decisions when purchasing apartments, villas or off-plan developments in Dubai. With a pragmatic mindset, a sharp focus on returns and a strong commitment to transparency, Edward is a trusted point of contact for anyone considering a property investment in Dubai.
