
RESIDENT BANK
ACCOUNT
After setting up a company in the UAE you can apply for a personal and corporate Bank Account opening as a UAE Resident.
Such Bank Accounts are the most beneficial for foreign investors because they are non-reportable and provide many opportunities to bank account holders.
Non-reportable bank account
Cheque book
Any bank facilities
Online banking
Debit and credit cards
Dedicated Account Manager

NON-RESIDENT
BANK ACCOUNT
If you did not obtain UAE Residency and are willing to open a UAE Bank Account for yourself or your business, then there will be certain restrictions which you will face after opening a Non-resident Bank Account in UAE.
It should be mentioned that such a bank account will be:
Reportable to the jurisdictions of the owners’ tax residency
Takes more time to open
Limited in bank facilities
Limited in online banking
Not allowed for issuing credit or debit cards

OFFSHORE
BANK ACCOUNT
If you want to open an Offshore Bank Account in UAE here are the benefits and restrictions of such Bank Accounts:
Extra secured and have the highest privacy level
Allow 100% repatriation of capital and profits
Fast to open
Can be opened without UAE Residence Visa
Have no currency or funds transfer restrictions
Have user-friendly online banking system
Not eligible for cheque books, credit or debit cards and ATMs
Before choosing which type of bank account to open and which UAE bank to choose - contact our experts to get a free advice and we will find the best solution which will suit your business needs and budget the best.
HOW WE CAN HELP YOU
OPEN YOUR BANK ACCOUNT IN UAE
At My Business Consulting DMCC we are proud to leverage over 11 years’ experience in opening all types of personal and corporate Bank Accounts in UAE, strong connections with the TOP UAE Banks, and serve our Clients to meet all the requirements for a successful opening of a Bank Account in the UAE.
Our hyper-personalized approach to all Clients resulted in 100% Bank Account Opening Success Rate in 2018 and 98% Success Rate in 2017.
WITH US YOU WILL GET:

Follow-up of Bank Account opening

Regular updates on the status of your application

Introduction to your official Relationship Manager

Scheduling the meeting with Relationship Officer of a chosen bank

Full assistance during UAE Bank Account opening application and interview

Coordination with Relationship Officer before account opening application meeting

Assessment of individual/corporate background
WHY TO CHOOSE UAE BANKS
These days, the vast majority of offshore jurisdictions are facing serious problems due to implementation of the Common Reporting Standard (CRS), under which all your financial data is reported to the country of your tax residency (in a CRS participating jurisdictions). Today, even Swiss and Singapore banks can't ensure 100% secrecy of their customers' data.
In this spotlight, UAE banks are the best option as the UAE Resident bank account information is non-reportable. Aside from that UAE banks have a strong economic performance and autonomy from international financial organizations what makes UAE a highly desired destination for foreign businessmen and investors to park their monetary assets.

Full exemption from taxation of interest

Economic Stability
1 USD = 3.6725 AED since 1997

No currency exchange regulations

Best Modern Online Banking

Innovative Banking Facilities with Apple Pay, Samsung Pay

Multicurrency Bank Accounts

Dedicated Relationship Manager

UAE ranked World's 2nd safest country

Access to Global Investment Opportunities
Learn more about reportable and non-reportable UAE Bank Accounts in in-depth article of our expert: “CRS and Its Impact on UAE Bank Account Holders”
TOP-5 UAE BANKS
By My Business Consulting DMCC
The procedure for opening a Corporate Bank Account in the UAE varies from bank to bank. Below we provide the list of TOP-5 UAE Banks with which we work for many years in a row and highly recommend them to our clients.
In the provided list you can find the Bank Account Opening packages with minimum maintenance balance total from all currencies on account, with and without dedicated Relationship Manager (RM).
When opening a Bank Account in the UAE there is a bewildering array of complex steps and procedures you have to go through. Therefore, My Business Consulting DMCC offers its services to help you open a Corporate or Personal Bank Account which would save you a big chunk of your precious time.
BANK ACCOUNT OPENING IN UAE FAQs
Emirates ID
Passport copy
Valid UAE Residence Visa
Utility Bill issued within last 3 months for your UAE residential premises, rented or owned
Salary Certificate from employer or contract with the employer (for employees). For investors, it should be the latest corporate document, showing ownership in the company
Passport Copy
Proof of address issued within the last 3 months
CV
Document proving the source of the applicant’s income (it can be the latest 3 months personal bank statement or corporate bank statement which applicant owns).
Still have questions? Please, contact our Experts in UAE Corporate Services and Bank Account Management for the professional advise at [email protected] or call by clicking on the form below.
SET UP YOUR BUSINESS WITH US
UAE FREE ZONES
AJMAN FREE ZONE AUTHORITY (AFZ)
DUBAI MULTI COMMODITIES CENTER (DMCC)
DUBAI SOUTH FREE ZONE (ex.DUBAI WORLD CENTRAL)
DUBAI WORLD TRADE CENTER (DWTC)
JEBEL ALI FREE ZONE AUTHORITY (JAFZA)
KHALIFA INDUSTRIAL ZONE ABU DHABI (KIZAD)
RAS AL KHAIMAH ECONOMIC ZONE (RAKEZ)