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)

“Von der ersten Kontaktaufnahme bis zur finalen Umsetzung wurde ich professionell, schnell und vor allem transparent begleitet. Jede meiner Fragen wurde ausführlich beantwortet, und man merkt, dass hier echte Expertise vorhanden ist. Empfehlung für alle, die nach Dubai auswandern oder in de VAE gründen möchten. “

Gernot Kleindienst

CMO Heartbeat Consulting

“Ich habe meine Firmengründung in Dubai über Dubai Setup durchgeführt und bin absolut zufrieden mit dem gesamten Prozess. Das Team war von Anfang an äußerst kompetent, professionell und eben auch deutschsprachig, was die Kommunikation und das Verständnis der lokalen Anforderungen erheblich erleichtert hat.”

Philip Manhart

Founder Aladdin Media

“Clemens hat mich durch den gesamten Prozess geführt und stand bei Fragen immer mit schneller Antwort zur Seite. Auch wenn sich Fragen ergaben, die “außerhalb” der Dienstleistung standen, stand das Dubai Setup Team mit Rat zur Seite. Zusammenfassend kann ich den Service von Dubai Setup empfehlen.”

Vincent Hahl

Founder DISO GROUP

“Dubai Setup hat genau das umgesetzt, was ich erwartet habe, um mich auf mein Kerngeschäft in den VAE konzentrieren zu können!
Der Weg zur Firma wurde glasklar aufgezeigt und beziffert, es gab keinerlei Überraschungen und die Frist wurde sogar verkürzt, durch interne Optimierungen! Empfehlenswert!”

Dirk Osada

Founder OSENM

“Liebes Team von Dubai Setup, ich freue mich sehr, euch gefunden zu haben und möchte einfach für die sehr gute und transparente Beratung im Rahmen meiner Firmenneugründung und dem exzellenten Service “Danke!” sagen. Top Job, das muss einfach gewürdigt werden. Vielen Dank an das Team Clemens!”

Alexander Felix

Founder Fit Consulting Group

“Alles lief reibungslos, von der Firmengründung, Visum Beantragung bis hin zur ausführlichen Erklärung, wie alles in Dubai funktioniert. Kompetent, transparent und extrem hilfreich. Kann ich uneingeschränkt weiterempfehlen, die besten Ansprechpartner für eine Firmengründung in Dubai.”

Christoph Feldmeier

Founder ONLYVISION

Clemens Kohlbacher

Dubai Setup Specialist

office@dubaisetup.co

Contact

Do you have questions about company formation, tax or emigration to Dubai? Contact us now using the contact form, WhatsApp, e-mail or book an appointment for a non-binding initial consultation.