Global عربي
KSA عربي
Global عربي
The population of the UAE is composed of almost 88 percent expatriates. It is not merely a number but rather millions of international travelers, professional investors, and business people managing life, work, and investment in a foreign land.
So, it matters when they inquire: Can a foreigner open a bank account in the UAE?
Most banks offer non-residents to open savings accounts, but may require a residence visa to obtain full banking facilities. Administrative work may be tough, and the minimum balances can be high, sometimes AED 5,000 to AED 100,000. The banks are also bound by stringent anti-money laundering rules applicable under the UAE Federal Law No. 14 of 2018.
Whether you’re moving, investing, or simply navigating your cross-border finances, knowing the rules can save you both time and money.
In this guide, you’ll learn which account types banks provide and witness the actual criteria. In the end, you’ll be confident enough to move the work overseas, invest as an expat, or run the business internationally.
Read more about: UAE Golden Visa
Yes, non-residents (tourists/visitors or expats without a UAE visa) can open a bank account in the UAE, but the options are restricted, while residents tend to have more choices. Most banks provide savings or simple deposit accounts that do not have cheque books, credit cards, debit cards, online access, or multi-currency.
The non-resident accounts can only be availed at a small number of large banks such as Emirates NBD, Mashreq, ADCB, FAB, DIB, RAKBANK, and HSBC UAE.
Most accounts that fall into this category will require a higher minimum balance, usually beginning at AED 25,000 and rising to AED 100,000 or maybe even AED 500,000 in the case of priority banking.
Real-World Experiences
At Reddit, people write about how difficult the process can be;
“I opened an account with ENBD and ADCB as a non-resident. ENBD has no minimum balance requirements and has a period of one week to deposit 30,000 AED after opening an account, and EIB has a requirement of an initial 60,009 AED within 7 days and must be held for 6 months. The ADCB requires here AED 200,000 or property”.
So any foreigner can open a bank account in the UAE, and the type of account they open may also differ based on the account’s purpose and their residency.
A full-service personal account can be opened in the UAE in case of employment and obtaining a residence visa and an Emirates ID.
Even if you are a non-resident, such as an investor, frequent visitor, or a global professional, you can also open a savings or deposit account, though with limited features.
And in case you are the owner or intend to register a business in the UAE, you can open a corporate or business account in the name of your business.
- Eligibility
In order to open a personal account of a resident, you need a valid residence Visa of the UAE and an Emirates ID. They are usually offered to people who live and work in the UAE.
- Types
They also offer multiple account types, such as current and savings, joint accounts, and even minor accounts for kids. Such accounts have unrestricted banking and flexibility.
- Features
The debit cards and cheque books are available to residents. They also provide full online and mobile banking, salary-linked accounts, personal loans, credit cards, and investment facilities such as fixed deposits or mutual funds.
- Eligibility
To open an account, non-residents are permitted to open a current account with a valid passport and an entry stamp in the UAE, like a tourist or visit visa.
Since they do not possess an Emirates ID, more detailed checks on their adherence will be required, along with additional documents similar to the validation of their income and referrals to the financial institution.
- Types
The non-resident accounts would typically be in the form of savings or fixed deposit accounts. Such accounts lack the complete features of the banking service and are mostly used for storing and transferring funds.
- Features
A debit card is normally issued by most banks against non-resident accounts; however, no cheques or overdraft facilities are extended.
The balance requirement is higher than in resident accounts and usually starts with AED 25,000 and goes up to AED 60,000, and sometimes AED 100,000 to AED 500,000, depending on the premium accounts or priority banking service.
- Eligibility
To establish a business account, you will be required to keep or represent a company that is registered lawfully in the UAE, whether in the Mainland, a Free Zone, or an offshore location.
Some documents are needed for these accounts, such as a valid trade license, MoA/AoA, shareholder’s passports, business plan, and source of funds. And, the review process can be even more convenient for offshore firms.
- Types
The business accounts are linked to strength everyday business activities, and can be opened in various currencies, such as the AED, USD, or EUR. Such accounts have the characteristics of the current accounts and business-specific facilities exclusive to trade and transactions.
- Features
The facilities provided by business accounts usually consist of cheque books, corporate debit cards, payroll management tools, and the ability to carry out international transfers/multi-currency transactions.
Banks have been offering digital banking, trade financing services, and business credit lines to increase the growth and business activities.
Nowadays, having a local bank account in the UAE matters a lot, even in case you do not live here, but as an investor you do investing from abroad. It assists in all matters, ranging from managing expenses, funds transfer, and establishing financial roots. And the way it happens to people is not the same.
The account holders who are residents can get all banking services with fewer documents. Non-residents can also open accounts,
but it is stricter; only savings and deposit accounts can be opened, and it may be slower as additional checks may be done. This can save you a great deal of time and frustration to know these distinctions upfront.
- Proof of Identity: You have to attach your original passport, and a clear copy of the valid UAE residence visa stamp is to be attached to it.
- Emirates ID: It is a document that is required, and in some banks, the receipt of such an application could be accepted even in the case that the physical card has not been issued.
- Proof of Employment or Income: You will need to provide evidence of work or income, such as a salary certificate, a copy of the work contract, or last pay slip, which must not be more than 3 months old.
- Proof of UAE Address: You will also need to provide some address proof documents in the UAE to the banks. This may be a tenancy agreement, a utility bill, or any formal document issued in the last 3 months.
- Passport-Sized Photo: As some of the banks might request a recent passport-sized photo, it is a good idea to have one on hand in the unlikely circumstance that it will be necessary.
Some banks also accept Emirates ID application receipts instead of the physical card to begin the process, with the ID submitted later.
Read more about: What Are The Types of Residency Visas in the UAE?
- Proof of Identity: You should have a valid passport that has not been cancelled and includes the stamp of arrival in the UAE or a copy of the visit or tourist page in the passport.
- Proof of Address: In order to open an account with banks, they will demand evidence of residential address. It might be your final utility bill, bank statement, or lease that has to have your name and home address on it.
- Recent Bank Statements: You will be obliged to provide your bank statements for the past 6 months. These would help the bank to understand your financial habits and income.
- Bank Reference Letter: You should have a reference letter from your home country bank. It should confirm your account relationship, the time of the period since the account has been active, and your overall status with the bank.
- Professional Background: There are some banks requesting a simple CV or a summary of the professional history. This enables them to find your occupation and where you work.
- Source of Funds Documentation: You should have clear documents that tell more about where your funds are coming from. This can be the information about a job, papers of a business owner, or investment records.
Some banks may request additional documents for high-net-worth or priority services.
These expats, investors, and business owners are all foreigners who require banks that are adaptable, dependable, and international in nature. The UAE has a mature and highly regulated financial market with several powerful choices, which are both resident and non-resident focused.
Some banks will better suit digitalization purposes, others provide access to the world, and some offer a couple of banks that provide Sharia-compliant or premium services. The following are the best options, which are rated highly by residents and non-residents.
FAB, headquartered in the UAE, is the second-largest bank for high earners or investors with plenty of provisions. It provides a broad suite of personal and commercial accounts, including wealth management, multi-currency, and commercial banking.
The bank also works with Free Zone companies and provides premium services for its more financially stronger customers. While onboarding an account is more intensive and requires extra paperwork, it’s great for customers seeking stability and scale.
HSBC is recognized by its worldwide presence and cross-country banking convenience. It is ideal for expats and global nomads, and investors who are multinational. HSBC proposes multi-currency accounts, effective online facilities, and an optional remote-onboarding of the Premier customers.
Its Premier and Advance services are particularly appreciated by high net worth individuals and frequent travelers who must have access to funds, investments, and financial advice in diverse markets consistently.
ADCB provides strong services to salaried expatriates and small entrepreneurs. It has convenient mobile services for its current and savings accounts, such as debit card, no requirement to transfer salaries in certain cases, multi-currency access to residents, and easy integration for businesses in Free Zones.
Emirates NBD is also one of the largest and most convenient banks in the Middle East that provides very good expat banking services. They have current and savings accounts that provide credit cards, loans, and investments to the citizens. While the basic deposit accounts offer debit cards in case eligibility is met, for non-residents. The bank is well-networked with its branches and has a very established app.
Mashreq is recognized for convenient services and an innovative digital platform, such as NEO, for personal and corporate clients. It provides individual expat banking services at competitive interest rates as well as salary and wealth management tools. For the matter of account opening and money transfer, Mashreq is also fast due to its focus on technology.
Many expat professionals and businessmen use RAK Bank as it has a straightforward procedure and useful customer care. It offers both the regular and Sharia-compliant personal and business accounts. Under non-resident account options, there are set packages clearly labelled as Elite or premium banking.
As the UAE’s first Islamic bank, the DIB offers Sharia-compliant accounts for residents or non-residents. It has savings, current, and business accounts that follow the Islamic finance laws. The investors and entrepreneurs who believe in DIB opt for sharia-compliant ethical banking.
If you’re a…
- Foreign-based Investor: Consider HSBC or FAB, because it conducts international transactions better than most.
- Freelancer or Consultant: Consider Mashreq NeoBiz or such platforms as Wio Business because it has no problems with remote access, and low balance.
- Free Zone Entrepreneur: The ADCB or Emirates NBD can adjust very well with Free Zone documents.
1- Can I open a bank account online from outside the UAE?
No, because in the UAE, most banks still limit you to opening an account in person at a branch, especially when you are not a resident.
Opening an account remotely is somewhat unusual and only applies to a choice of high-end services or banks. Such an exceptional access might include video-based onboarding by approved foreign clients of a few banks, such as HSBC Premier.
2- What is the minimum balance for UAE bank accounts?
Some entry-level savings accounts might only require a minimum yearly balance of AED 3,000 to AED 5,000 in case you are a resident.
Non-resident accounts typically begin at AED 25,000 or 50,000 a year but can stretch to 100,000 or more at the highest level. There are banking institutions such as Citibank that have higher requirements, e.g., AED 35,000 even on a Basic current account.
3- Can freelancers or remote workers open bank accounts in the UAE?
Yes, increasingly digital banking options, such as Wio Business or Mashreq NeoBiz, are specifically designed for freelancers and remote workers.
These bank accounts usually do not have any minimum balance, but a simple invoicing system and a low monthly fee are required. The traditional banks would still require residency or registration of a company, but these new digital platforms are far easier to access.
Read more about: UAE Green Visa vs. Blue Visa, 2025 Updates
Disclamer:
This post is for educational purposes only, and does not constitute investment advice or a solicitation to take any financial action. It should not be relied upon when making investment or financing decisions.
