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Bank account opening in the UAE - review of the banking system

2017-10-12

The current economic state of the UAE is very sufficient for financial institutions and for bank account opening in the banks of UAE.

Why the account opening in the banks of the UAE is so useful to foreign entrepreneurs? Now we will explain this.

The United Arab Emirates has shown that their crude oil reserves are about 98 billion barrels (or 10% of the world's reserves) and have significant natural gas reserves.

Тhe main part of oil and gas wealth is concentrated in Abu Dhabi, which accounts approximately 90% of the total oil production in the country and has more than 90% of gas reserves. Dubai is also an important financial center in the UAE because of its significant financial and service industries. Together, the two countries are two important economies in the region. The other five emirates have a stable economic and political system.

Emirates banks of a highly developed financial system meet modern standards and customer requirements when it comes to opening a bank account in the UAE.

For this reason, the UAE financial institutions are recognized throughout the world and have an excellent reputation for the offered services.

Many businessmen are interested in bank account opening in the UAE, everyone wants personal and corporate bank accounts.

Bank account opening in the UAE - how is it going?

Personal presence is required for bank account opening in the UAE in accordance with the legal procedures of the financial institutions of the United Arab Emirates.

In addition, remotely bank account opening is considered as illegal and in this case the bank will not open. The reason for personal presence is that the original signature of documents and proof of identity are mandatory requirements allowing the applicant to open a corporate bank account in the UAE.

For successful opening, you need to contact us and provide us with a package of corporate documents. In this case, you will save a lot of time.

Below are listed the main banks with which we cooperate.

Bank account opening in the Mashreqbank

In the dynamic and highly competitive banking industry in United Arab Emirates, Mashreq Bank is known for innovative products and services. 50% of all households in the UAE cooperate with the bank due to a wide range of offering products in each business segment, so bank account opening in Mashreqbank is very attractive proposition. Their wide range of products and services includes credit cards, consumer loans, trade finance, project finance, electronic funds transferring at the sales points, ATMs, call center, treasury, correspondent banking, online banking and GSM banking, everything is based on the most modern technologies and high quality service.

Bank account opening in the UNITED ARAB BANK

Speaking about bank account opening in UNITED ARAB BANK (UAB), the bank was established in the middle of the 20th century as join venture between investors of the United Arab Emirates and French international financial conglomerate Societe Generale.

The bank is located in one of the emirates called Sharj and has twenty branches throughout the jurisdiction. The UAE offers its clients individual financial services in both corporate and retail business and has generally proven itself as the leading provider of solutions for a growing commercial and industrial base in seven emirates.

Bank account opening in Emirates NBD

Emirates NBD is one of the leading banking groups in the jurisdiction. As at the end of September 2016, total assets amounted 446 billion AED (that is equivalent to approximately $ 121 billion). The group has a leading retail banking franchise in the United Arab Emirates with more than 220 branches and more than 985 ATMs in the UAE and abroad. He is a major player in the corporate and retail banking arena of the UAE and has strong Islamic banks, global markets and treasury, investment banking, private banking, asset management and brokerage operations. Therefore, opening an account in Emirates NBD is also beneficial.

Are you interested in the wonders of the emirates? When you will be ready to open an account in the UAE – please, contact us for help! Thus, you will save a lot of time and will open an account more efficiently!