Banking
UAE — Banking: Opening an Account
UAE residents can open full current accounts with any major bank, typically requiring a residence visa, Emirates ID, passport, and salary certificate/employment letter. Non-residents can still open accounts, though options are more limited — most banks offer only savings accounts (not full current accounts) to non-residents, with minimum balances ranging roughly AED 25,000-500,000 depending on the bank. Physical presence in the UAE is usually required for onboarding, though some banks allow partial remote processing before final in-person verification. Clear, verifiable source of funds is one of the most important approval factors, and banks may decline applications at their discretion even with complete documentation, given strict UAE compliance/AML regulations.
Key facts
- Residents: full current accounts available with residence visa, Emirates ID, passport, and salary certificate.
- Non-residents: typically limited to savings accounts, with minimum balances of AED 25,000-500,000 depending on the bank.
- Physical presence is usually required for onboarding, though partial remote processing is available at some banks.
- Verifiable source of funds is a critical approval factor; banks retain discretion to decline applications even with full documentation.
Costs
- Non-resident minimum balance range: AED 25,000-500,000
Required documents
- Passport
- Residence visa and Emirates ID (residents)
- Salary certificate/employment letter (residents)
- Proof of address
- Bank reference letter (non-residents)
Common mistakes
- Assuming a full current account is available as a non-resident — most banks only offer savings accounts to non-residents.
- Underestimating the source-of-funds documentation banks require for approval.