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Opening a Bank account

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Manchester
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Opening a Bank account

I live in the UK and need to open a bank account in Dubai when i come over as my appartments rent needs to paid into it ...can someone tell me which bank i can go to and what docs etc do i need..

thanks

Dubai
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for Dubai, Bahrain, Saudi Arabia
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1. Re: Opening a Bank account

Emirates Bank is quite reputed and has branches all across Dubai.

You need your passport and an employer's certificate (not necessarily in Dubai).

I assume you don't have a Resident Visa and therefore you will be allowed to open a Savings Account and not a Chequing Account. Not a major problem except they wont give you a Credit Card. Be sure to request Internet Access to your account while you are in Dubai as they wont give it of you request it from abroad.

Abu Dhabi, United...
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2. Re: Opening a Bank account

Go to any bank with your original passport, along with 2/3 passport-sized photos, passport copy and residence visa copy. If you don't have a residence visa you may be required to submit evidence of your apartment ownership (e.g. copy of contract). When I first came here a copy of my job offer letter was accepted instead of residence visa, but it was asked for the visa later.

Internet banking is definitely a feature you should look for (it is not offered by all banks in the UAE).

You should probably take into consideration the cost of transferring money back to the UK. For example, HSBC in UAE offers free transfers to HSBC UK and Jersey (includes first direct). Barclays in the UAE offer free transfers to Barclays in the UK, I believe.

Dubai
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3. Re: Opening a Bank account

Just a note....do not leave vast amounts of money here as an expat because all money here (whether you live here or not) is subject to Shariah Law.

You could consider an offshore account in Jersey-Citibank is the only bank offshore to offer a AED current account/savings account. This means you could have your rent paid into it, its not subject to Shariah law, and you can convert back to GBP when you feel the time is right (like now-6.25-great for me sending money home every month but no so good for tourists coming here from UK) Bear in mind tho, most offshore bank accounts require you to have a minimum balance-usually $100,000 or currency equivalent

Manchester
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4. Re: Opening a Bank account

thanks for all your help guys ...i have a staff account with Barclays so will see if they let me open one in Dubai

Glasgow
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5. Re: Opening a Bank account

Stadybelle

Just a quick question if you don't mind on the Sharia law bit of your reply. Whats the risk involved?

Cheers

Dubai, United Arab...
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6. Re: Opening a Bank account

^^^ What Stadybell refers to is potential issues when, god forbid, the owner of the apartment dies without having made a will and/or without having had the will attested by the authorities here.

There is some confusion about this issues, but it could well be that in such cases any property etc. owned is treated as per Shariah Law when it comes to inheritance, which means that it may be distributed differently from the wishes of the owner. This Gulfnews article explains a little bit more: gulfnews.com/uaessentials/…10139165.html

Glasgow
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7. Re: Opening a Bank account

Much obliged GW.

Konstanz, Germany
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8. Re: Opening a Bank account

I have been in a similar situation recently and have been told by more then one bank the following:

- a non-resident can open a savings account

- a deposit of 20.000 US Dollars is required to open the account

I found they tell you something else when you call them / look at the information on their web pages.

9. Re: Opening a Bank account

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