Opening an account in Dubai - requirements, procedure & costs

Opening an account Dubai

Opening a bank account in Dubai is becoming increasingly popular. On the one hand, because more people are emigrating to Dubai and need local banking solutions. But banks are particularly popular with non-residents due to their high level of security and modern online banking.

We have been helping people open bank accounts and banking solutions in Dubai for over 10 years. Both with local banks such as ENBD, as well as with major international banks such as HSBC, Citibank and Co.

Advantages

An overview of the most important reasons why you should open an account in Dubai.

High security

There has never been a bank run or bank failure in the UAE in its entire history. The banks offer a high level of security.

Modern online banking

Compared to other offshore banks, Dubai offers modern online banking via desktop or mobile app.

Multi-currency

Depending on the bank, over 30 different currencies are offered and supported

IBAN

The banking system in the UAE is structured with an IBAN, similar to Europe.

Support

Every bank has English as its corporate language and you get very good support in English.

Process

We support you step by step in opening a bank account in Dubai.

1st consultation

In the first step, we advise and weigh up whether Freezone or Mainland makes more sense, which location is suitable and how the company should be set up.

2. company formation

The company is then incorporated, including the incorporation documents and office address. For Mainland companies, we help with EJARI registration.

3. Emirates ID / VISA

After establishment, entry is via EVISA. A medical test and biometrics are then carried out on site in Dubai in order to obtain the EID and the RV.

4. account opening

As soon as you have the Emirates ID, we start opening bank accounts, both private and business, including debit and credit cards.

5. tax registration

In order to remain legally compliant from a tax perspective, we register the company with the FTA and advise on compliance and legal tax optimization.

6. ongoing support

We are your ongoing contact for all questions relating to company formation in Dubai. From taxes and banking to VISA and emigration.

Ready for Dubai?

Our services

We offer the complete support for bank account opening in Dubai.

FAQ

Below are the most frequently asked questions about opening a bank account in Dubai.

How much does it cost to set up a company in Dubai?

The cost of setting up a company depends heavily on whether a mainland or freezone company is required, which licenses are needed and ultimately how many VISAs the company should carry.

These 3 aspects are decisive for the costs.

How long does the process take?

The company formation process usually takes 1 week. This is followed by (optional) entry to carry out the medical test and biometrics for the Emirates ID. This again takes one week. The next step is to open an account, which takes a few working days on site.

Will my family also get a VISA?

Yes, you can sponsor your family's VISA as a spouse or apply for their VISA or hire family members in the company.

Do I have to live in Dubai?

No, you do not have to live in Dubai and run a company here. However, you should enter the country once or twice a year to maintain your VISA.

What is the difference between Freezone and Mainland?

The key difference is that Freezone companies can only operate in Freezone and worldwide without restriction. No services may be provided locally in the Mainland. Anyone selling goods or services locally requires a mainland company.

Are there differences within the free zones?

Yes, each free zone has its own licenses and infrastructure. For example, JAFZA has a port and storage facilities, while DIEZ has many licenses for (digital) services.

Do I absolutely need an Emirates ID?

An Emirates ID is mandatory for opening local accounts. It may also be required in the event of emigration.

Does Dubai Setup also support emigration?

Yes, we not only provide support with the company setup, but also with the entire emigration process.

What do our customers say?

Experience

For years, we have been helping people with emigration, company formation, real estate, trusts and much more in Dubai. We are proud of the genuine reviews we have received from our clients. (Source: Google & Trustpilot)

I can unconditionally recommend Clemens. He accompanied me during my emigration from Germany to Dubai and was of enormous help from the very beginning. I received a very quick response after my first WhatsApp message. Even though we didn't know each other yet, he took the time to answer my questions in detail without charging me. Shortly thereafter, he even offered me a free consultation call where I could ask him countless questions.

Every single question was answered competently, understandably, and patiently. I was particularly impressed by his enormous expertise. He not only has excellent knowledge of emigration to Dubai but also thinks of many details that one would never have considered. Even during my time in Germany, he pointed out important topics to me, saving me from many mistakes and unnecessary problems. What sets Clemens apart from many other advisors is his honesty, his availability, and his genuine interest in helping his clients.

He always replies quickly, gives valuable recommendations, and remains patient even when you ask the same question multiple times. Furthermore, he not only supports with the formal steps of emigration but also provides practical tips on living in Dubai, finding an apartment, dealing with authorities, banks, and many other important topics. I am more than satisfied with his support and can recommend him to anyone considering emigrating to Dubai. For me, Clemens deserves more than 5 stars. Thank you for the great support. I look forward to our continued collaboration.

Thami Benhaddou

Founder Benhaddou Creative

I established my company in Dubai with Dubai Setup. Clemens provided me with incredible support and top-notch advice throughout the process. The setup was completed within a few days and went absolutely smoothly. I had appointments for biometrics and my medical examination within three days, which is unbeatable.

Moritz Stelter

R1se Longevity Consulting
“I was a bit skeptical at first because you hear and see a lot of shady dealings on the market, but I can't confirm that at all with Dubai Setup and Clemens! 🙂 From the first contact 2 months ago to the complete processing, everything was super professional and extremely fast!"

Dominik Schlösser

CSO Heartbeat Consulting
“Everything went smoothly, from company formation, visa application to the detailed explanation of how everything works in Dubai. Competent, transparent, and extremely helpful. I can recommend them without reservation, they are the best contacts for setting up a company in Dubai.”

Christoph Feldmeier

Founder ONLYVISION
“Dear Dubai Setup Team, I'm very happy to have found you and just want to say “Thank you!” for the very good and transparent advice regarding my company's new founding and the excellent service. Top job, this must be acknowledged. Thank you very much!”

Alexander Felix

Founder Fit Consulting Group
“Dubai Setup has implemented exactly what I expected, allowing me to concentrate on my core business in the UAE! The path to establishing the company was made crystal clear and quantified, with no surprises whatsoever. The deadline was even shortened due to internal optimizations! Recommended!”

Dirk Osada

Founder OSENUM
“Clemens guided me through the entire process and was always available with a quick answer for any questions. Even when questions arose that were “outside” the scope of the service, the Dubai Setup team was there to offer advice. In summary, I can recommend Dubai Setup's service.”

Vincent Hahl

Diso Group
“I founded my company in Dubai through Dubai Setup and am absolutely satisfied with the entire process. The team was extremely competent, professional, and also German-speaking from the very beginning, which made communication and understanding the local requirements significantly easier.”

Philip Manhart

Aladdin Media
“From the initial contact to the final implementation, I was guided professionally, quickly, and, above all, transparently. Every question I had was answered thoroughly, and you can tell there's real expertise here. Recommended for anyone looking to emigrate to Dubai or start a business in the UAE.“

Gernot Kleindienst

CMO Heartbeat Consulting

“From the initial contact to the final implementation, I was supported professionally, quickly, and above all, transparently. All of my questions were answered thoroughly, and you can tell there's real expertise here. Highly recommended.For everyone who wants to emigrate to Dubai or start a business in the UAE.“

Gernot Kleindienst

CMO Heartbeat Consulting

“I founded my company in Dubai through Dubai Setup and am absolutely satisfied with the entire process. The team was extremely competent, professional, and also German-speaking from the very beginning, which made communication and understanding the local requirements significantly easier.”

Philip Manhart

Founder Aladdin Media

“Clemens guided me through the entire process and was always available with a quick answer for any questions. Even when questions arose that were “outside” the scope of the service, the Dubai Setup team was there to offer advice. In summary, I can recommend Dubai Setup's service.”

Vincent Hahl

Founder DISO GROUP

“Dubai Setup delivered exactly what I needed to focus on my core business in the UAE!
The path to the company was clearly shown and quantified, there were no surprises and the deadline was even shortened through internal optimizations! Recommended!”

Dirk Osada

Founder OSENM

“Dear Dubai Setup Team, I'm very happy to have found you and just want to say “Thank you!” for the very good and transparent advice regarding my company's new founding and the excellent service. Top job, this must be acknowledged. Thank you very much!”

Alexander Felix

Founder Fit Consulting Group

“Everything went smoothly, from company formation, visa application to the detailed explanation of how everything works in Dubai. Competent, transparent, and extremely helpful. I can recommend them without reservation, they are the best contacts for setting up a company in Dubai.”

Christoph Feldmeier

Founder ONLYVISION

Clemens Kohlbacher

Dubai Setup Specialist

Contact

Do you have questions about company formation, taxes, or immigrating to Dubai? Contact us now and get a non-binding consultation on your project.