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Dubai - UAE
Bank Account
As a hub for international trade and commerce, Dubai offers a wide range of banking options for both individuals and business owners. Opening a bank account in Dubai is not only convenient but also essential for those looking to take advantage of the city's economic opportunities.
Having a bank account in Dubai provides easy access to financial services, secure money transactions, and a reliable platform for managing personal or business finances. If you're a non-resident, you generally can't open a bank account in Dubai unless under special circumstances. To be eligible for a bank account, you must be a UAE resident, either as a salaried employee, investor, or business owner.
Current/Salary Accounts
Designed for day-to-day transactions, salary transfers, paying suppliers, managing payroll, and bill payments. They usually come with debit cards, chequebooks (for residents), and online banking facilities.
Savings Accounts
Designed for accumulating savings, these accounts typically offer higher interest rates than current accounts but with limited access to funds.
Offshore Accounts
These accounts are held in a foreign currency and can offer privacy and tax benefits. However, regulations around offshore accounts can be complex.
Popular Banks in Dubai
- Emirates NBD
- Dubai Islamic Bank
- Commercial Bank of Dubai
- Mashreq Bank
- Abu Dhabi Commercial Bank (ADCB)
- Union National Bank (UNB)