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Bank account opening
Opening a bank account in the UAE
Opening a bank account in the UAE is the first and most important step.
We’ll open an account with the UAE’s largest bank in just two weeks. For Dubai real estate investors, opening a bank account in the UAE is a crucial step, simplifying all financial transactions, from purchasing to financing and managing funds. Genesis Hub provides full assistance, working with the emirate’s largest banks.
Benefits of opening an account
• Transfers without exchange controls.
There are no exchange controls in the UAE, and there are no restrictions on transferring funds abroad.
• Highly reliable banks.
The dirham/dollar exchange rate has remained stable for decades.
A proven and stable banking system.
• Interest on deposits above inflation.
Up to 4% per annum with inflation below 1%. Inflation over the past five years has been negative on average.
• No income tax
On capital gains, luxury goods, dividends, etc.
Account Opening Process
We help you open an account using a reliable method—company opening
• We receive your documents and begin the company opening process.
• We open a company in the UAE to obtain an investor visa.
• You arrive in the UAE, undergo a medical check and biometrics, and become a UAE resident.
• We open your personal account in one of the largest UAE banks, depending on your goals.
Opening a Bank Account
For business in the UAE, you’ll need a corporate account. Atlant Capital can help you with this process.
Account Types
• Commercial – for transactions and accounting.
• Investment – for securities.
• Savings – for accumulating funds.
Documents required to begin the process
• A valid passport
• A passport-type photo
• Scanned color copies of your passport with a UAE entry stamp (if applicable)
Account Opening Documents
• Company Shareholder Register.
• Contracts with current and potential partners.
• Company presentation and website (preferably in English).
Atlant Capital will provide step-by-step instructions and all the important information you need to successfully open a UAE bank account.
What types of accounts are available in the UAE?
There are several main types of accounts available in the UAE: current, investment, and corporate. Companies registered in free trade zones or on the UAE mainland can open a corporate account. Foreign companies can also apply, but this requires document legalization and can be quite expensive, with a low approval rate.
Advantages and Disadvantages of Banks in the UAE
Advantages:
• Highly reliable and stable banking system.
• Guaranteed confidentiality of client data.
• High level of asset liquidity, ensuring access to funds at any time.
Disadvantages:
• A residence visa is required to open an account.
• Legalization of some documents entails additional costs.
Which are the most popular banks in the UAE?
ENBD (Emirates NBD)
• Opening time: 2–3 weeks
• Minimum balance: from $4,100
• Currency: AED, USD, EUR
ADIB (Abu Dhabi Islamic Bank)
• Opening time: 5–7 days
• No additional conditions
ADCB (Abu Dhabi Commercial Bank)
• Opening time: 4–6 weeks
• Minimum balance depends on the type of business
• Currency: AED, USD, EUR, other currencies by agreement
FAB (First Abu Dhabi Bank)
• Opening time: 4–6 weeks
• Minimum balance: approximately $68,000 (if not met, a service fee of AED 500 per month)
• Currency: AED, USD, EUR, CNY, other currencies by agreement
UAE Banks
• FAB
o National Bank of Abu Dhabi – the largest bank in the UAE
o The bank’s network consists of 73 branches and 499 ATMs
o Assets – AED 919 billion
• ADIB
o Abu Dhabi Islamic Bank – is one of the largest banks in the UAE
o In the UAE, ADIB has opened approximately 130 branches and installed more than 700 ATMs
o Assets – AED 45 billion
• ENBD
o Emirates NBD Bank – the second largest bank in the United Arab Emirates
o The network includes more than 220 branches and more than 900 ATMs throughout the country and abroad
o Assets – AED 742 billion
Why do clients choose us?
• We help with payments for our services, as well as with international transfers in rubles/dollars/dirhams and digital currencies with minimal labor costs and fees.
• Our team achieves the fastest possible results.
• We have extensive experience in opening companies and accounts, and now we help you relocate your business under the best conditions.