Taskmaster Commercial Brokers LLC is a reputed company that aims to deliver a great level of client satisfaction with a one-stop shop for all your necessities. We can acquaint our clients with opening bank accounts in several jurisdictions, however, we specialize in bank account opening in Dubai. So, if you are looking to open a bank account in Dubai, UAE, then this article is for you.
The procedure for a bank account opening in Dubai is very simple and requires little effort. Dubai banks require some essential documents along with a minimum deposit for a new bank account opening.
Both a businessman and a salaried employee are able to open a bank account in Dubai, but the only this that they have to remember is that a salaried employee does not need to maintain a minimum amount in a bank account. Whereas a businessman is supposed to always maintain a minimum amount in their accounts.
Requirements for Open a Bank Account in Dubai
If you are living in the city, then the below-mentioned process is helpful for you to secure a new bank account opening in Dubai.
Choose your Preferred Bank
UAE offers many options of banks for an individual to select from. Hence, in case an applicant is expecting a salaried account opening or Company account for their business, then they have to check their eligibility as per different banks criteria.
Choose the Type of Account
Once, an applicant is done choosing the bank in which they want to open their account, they have to select the type of account they wish to start. The two kinds of bank accounts are a savings account and a current account.
A savings account is suitable for those applicants who want to keep the money for asset management and also meeting any emergency case. A savings account gives limited transactions.
A current account is suitable for those who indulge in high-amount transactions. The current account helps you to cover the monthly costs. This account aids the holder to access their funds at any time during the day.
Gather All the Appropriate Documents
Whether you want open a savings account or a current account. You need to prepare the required documents such as – Transcript visa, salary certificate, Emirates ID, and copy of passport.
Open A Bank Account in Dubai for Non-residents
A non-resident is able to open a bank account provided they select to secure a savings account and complete the specific criteria mentioned by the bank. The bank usually tends to first check their papers completely and once verification is done, assists them to open their bank account.
Documents Required for a Non-resident Bank Account Opening
Here is a list of essential documents that are necessary for a non-resident to open a bank account.
- All utility bills should be a transcript
- Account report of the last bank
- A proposal letter from the original bank
- A short history of the applicant
- Brief description of professional activities
- The qualification history of the applicant
- A valid passport
Open a Corporate Bank Account in Dubai, UAE
This is the fact that the procedures are different from bank to bank when opening a bank account. But it is also the fact that the one thing is common in every bank to have the shareholders’ and directors’ presence. Hence, below know the steps for a business bank account opening in Dubai.
- First, you need to fill out an application
- Fill in all the information required about you and your company.
- Attach your necessary documents
- Submit it to the bank
Documents Required for a Corporate Bank Account Opening
- Residency visa of the shareholder
- Passport copies of the shareholder
- Emirate ID of the shareholder
- A brief (idea) about the type of business you are operating
- A brief description of their funding sources
- A proposal letter from the business partner
- A blueprint of the business plan
- Memorandum of Association
- (Office Tenancy Contract)
Once the application approval is done, the bank verified all the details of your company and its financial projections.
(Then, the bank arranges an interview with the applicant.)
(Once the bank gets satisfactory information from the client then finally the bank opens the corporate account in Dubai.)
Major Banks for Corporate Banking in Dubai, UAE
- Emirates National Bank of Dubai (ENBD)
- Abu Dhabi Commercial Bank (ADCB)
- Dubai Islamic Bank
- Standard Chartered
- Abu Dhabi Islamic Bank
- Mashreq Bank
- First Abu Dhabi Bank
- RAK Bank
- National Bank of Fujairah
- Commercial Bank of Dubai
Freezone Bank Account Opening in Dubai, UAE
The Freezone company bank account opening in Dubai is designed to give the best use to companies. The objective is to make it simple for investors to stay on top of their business dealings. Taskmaster commercial broker is the easy way for a Freezone company bank account opening.
- The investor will be able to smoothly track business spending, determine their tax duties, and handle cash flow in case they had a free zone company account.
- It is important to find a bank that gives the services that are suitable for your company.
- A bank account that ensures best solutions for all the financial services for your company is an advantageous for business.
Mainland Bank Account Opening in Dubai, UAE
Mainland bank account aids business owner to manage funds and tracking costs. Most people are curious about a mainland company bank account opening in Dubai. The process varies from bank to bank for a corporate bank account opening. Taskmaster professionals offer guidance and help for a mainland company bank account opening easily.
- This account gives the facility of a cheque book to the account holder for making any transactions.
- The account user can smoothly transfer their funds using these accounts. This account also provides mobile or net banking services.
- Banking services like Business Loan, Trade Finance, Bank Guarantee etc. are also available through these bank accounts.
Offshore Bank Account Opening in Dubai, UAE
An offshore bank account can be started by an individual or under the name of a company. Such accounts give financial and legal benefits to a great extent to their clients. So, if you are looking for an offshore company bank account opening, then Taskmaster professionals are here to help you for the same.
- These kinds of accounts are tax-efficient savings and investments in different currencies.
- These accounts can handle foreign exchange.
- Link your local accounts to your protected, centrally located money.
- Access global expertise and acquisition advice
Easy Way to Open a Bank Account in Dubai, UAE
Taskmaster Commercial Broker LLC is a leading company in Dubai that assists individuals and businesses to open a bank account in Dubai. Taskmaster experts assist right from suggestion of the bank as per your business activity to documentation and until the bank account is opened. We will help you with Freezone, offshore, and the mainland, as well as gold & diamond jewelry and crypto bank account opening in an easy manner.
If you are a foreign citizen and looking to open a bank account in Dubai, UAE, then Taskmaster Commercial Broker is here to help you. We provide assistance to various nationalities for bank account opening in Dubai easily. The nationalities are – India, Iran, Afghanistan, Israel, Tajikistan, Bangladesh, and many more, which you can find on our website.
Taskmaster provides a comprehensive array of bank account opening in Dubai, so, connect with us now to get the best services for your bank account opening.