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Opening a personal bank account in UAE

You have to have a personal bank account in the Emirates to receive wages, manage your personal finances and access financial services. Our professionals will help you navigate the account opening process with ease and get the bank’s approval.

Personal banking account

Individuals should rather choose local banks for opening an account. Opening a personal account is simpler than a corporate one – the list of documents required by banks is considerably shorter. If you’re unfamiliar with UAE legislation and are considering opening an account for the first time, it is better to seek help from professionals

Price of opening

  • The price of opening a personal bank account starts at $2,000, and the entire process takes at least 5 business days.

Account opening steps

  • Consultation with AWATERA relocation agents

    AWATERA offers a turn-key service designed to assist you with opening your business overseas. We will assist you with the choice of a suitable bank, help you make a list of required submissions, and explain the legal aspects of banking and use of funds in the UAE.

  • Preparation of documents

    You will be asked to prepare a set of documents according to the bank’s list, and send them to the bank for review. It is advisable to seek professional assistance to make sure the bank issues a favorable determination on your submissions.

  • Interview with the bank's manager

    UAE banks espouse a system they call Know Your Customer, which implies that the potential customer has a duty to answer all questions asked by the bank to the bank’s satisfaction. The idea behind this system is to have better control of transactions and minimize risk exposure.

Our Clients' FAQ

As of June 2024, there are no issues with opening accounts for Russian citizens. Several factors can complicate the account opening process, and each case needs to be examined individually. The only reason for a bank’s denial that cannot be influenced is political exposure (PEP) and sanctions.

 If the bank rejects the application, we apply to another bank at no extra cost to you, or we fully refund your money. This condition applies only if the requested information and documents are supplied promptly.

You need a personal bank account in the UAE if you are a foreigner who plans to live, work or do business in the Emirates. The following categories of persons need personal accounts in the UAE:

  •     Foreigners working in the UAE (a local bank account to receive wages);
  •     Entrepreneurs and investors (to manage personal assets, property or other investments in the UAE);
  •     Those planning to live in, or frequently visit the UAE.

Helpful Reading

Write to us and we will be happy to help you