The UAE is an international business hub whose upward development trend is highly likely to continue for many years to come, and the country offers excellent banking that we highly recommend to individuals and entrepreneurs alike. Do not miss an opportunity to set up a personal bank account from the comfort of your home and take advantage of top-notch private banking services that are sure to meet your needs. Of course, it is much harder for a non-resident to open an account abroad, so you should choose the bank that is ready to onboard foreigners. In this post, we will recommend a bank that complies with the above requirements. The only possible drawback is that you cannot apply by yourself, but the good news is that you can open a bank account in the UAE with the help of specialists from International Wealth or other trusted sources. Do not hesitate to follow the link above and talk to an expert – it’s free!
The Recommended Bank
Reliable banks work with non-residents via agents and never advertise the fact that they open accounts to non-residents. Why is it? Well, all financial operations that involve non-residents are considered risky by international regulators, which attracts too much attention. Banks do not want unnecessary audits for no reason, so they prefer to onboard foreigners in a confidential manner. This is the reason why we don’t mention the bank’s name: you can get in touch with an expert by following the above link and find out more.
We will recommend a private bank that is based in Dubai and is part of an international financial group with a high reputation in the world of business. The range of services it offers is sure to satisfy your banking needs, and it is present worldwide in Beijing, Singapore, Indonesia, the Middle East, and the UK.
The bank is known as one of the most stable, reliable, and respectable institutions in the Middle East, and it serves individuals and families, welcomes non-residents, and provides customized services to HNWIs and UHNWIs.
If you are on the lookout for investment opportunities, the bank is just what you need: it has an investment department that seeks new opportunities to offer to customers who wish to grow their capital. They explore different economic sectors across the globe, so they are sure to offer an exceptional opportunity you have never thought of.
The offices of the financial institution are located in Singapore, the United Kingdom, Saudi Arabia, and Dubai. However, it does not prevent it from providing services to customers based in any part of the world, including Africa, Europe, and Southeast Asia.
The services offered by the bank are appreciated internationally as the organization is a holder of multiple awards for great achievements in private banking, capital management, and so on. If you decide to opt for this Dubai bank, you may rest assured that your capital is in reliable hands from this time on!
Range of Services
Let’s look at the services that the recommended UAE bank may offer:
- Customized insurance coverage. You will be able to get an insurance policy to cover all the risks you need.
- Professional services of real estate consultants that will give you advice on different matters.
- A full range of services related to professional management of real estate assets and trusts.
- The bank can grant you a loan if you provide collateral in the form of life insurance, IPO shares, investments, or real estate.
- You can delegate your investment portfolio management to the bank to achieve your financial goals and maximize profits with the help of professionals.
- If you need to complete a trade transaction, you can delegate it to banking experts as well.
- Good investment opportunities are not so easy to find, so the bank will do the job for you and provide you with useful information and expert guidance.
- Almost any bank issues debit and credit cards and this one is no exception. However, you will also get access to special offers, like Visa Elevate, Skywards Signature, Visa Infinite, or MasterCard Titanium.
- Needless to say, all the standard modern banking services, like easy currency exchange, seamless money transfers, and convenient apps for account management will be available to you as well.
Managing your Account with the Dubai Bank
Some people find it more convenient to manage their finances over the phone, while others usually use a computer for that purpose. No matter what category you belong to, the UAE bank will provide a user-friendly mobile app and a secure online banking platform for you to be able to use either device. Manage your money online and save on transaction fees!
Dubai Bank: Fees
Let’s take a look at the fees payable by the Dubai bank users.
First of all, there are some services provided free of charge:
- Transferring funds via mobile or Internet apps
- You will also get an account statement for free if you conclude an agreement on service frequency
Here are fee-based services:
- Commission payable for cross-border AED transfers to the UAE Central Bank: AED 105
- Withdrawal/deposit of funds in foreign currency: the minimum fee is AED 21.20, while the standard rate is 0.79% of the amount
- The fee for card issuance and usage depends on the card type
- Cash withdrawal in AED comes at AED 2.10 to 21.00 depending on the country where the money is sent
Package of Documents
If you are a non-resident, you will have to comply with certain requirements and submit a package of documents to set up an account:
- Proof of the legal origin of funds
- International passport
- Duly filled out bank forms, including those related to the KYC (Know Your Customer) procedure
- A detailed CV that shows your experience and background
- A minimum deposit in USD or EUR*
*As for the minimum deposit, it is usually set at 3 million. However, the bank is ready to be flexible and consider your individual situation. Alternative arrangements may include depositing the full amount in installments over a period of 1 year.
The bank we recommend opens accounts that cannot be used for commercial purposes, so you are only allowed to use them for trusts, funds, and personal goals.
Interested in opening an account with a private bank in Dubai? You can follow the above link to read more detailed information and discuss your situation with a financial expert free of charge using a live chat during office hours. We wish you excellent banking!