Private Bank Account Opening

Account opening conditions

Residents

Proof of identity: Emirates ID card, original and photocopy of passport.

Proof of residence: such as utility bills, lease agreement, etc.

Proof of income: pay slips or other income documents for the last three months.

Non-residents

Proof of reason for opening an account: such as proof of purchase of property with a real estate agent to prove that the account is opened for legal purposes, such as real estate investment and rent collection.

Proof of source of funds: provide six months of bank statements, salary account statements for employees; business owners need personal bank statements and business account statements reflecting dividends.

Supplementary documents: a resume, proof of foreign address (utility bill or bank reference letter), passport copy.

1. Choose a bank

In the UAE, there are many banks that provide private banking services, such as Emirates NBD, ADCB, Mashreq, etc. When choosing a bank, you should consider the following factors:

Service types: Understand the types of private banking services provided by the bank, such as wealth management, investment consulting, loan services, etc., and choose a bank that meets your personal needs.

Fee structure: Understand the bank's account maintenance fees, transaction fees and other fees, and choose a bank with high cost-effectiveness.

Geographic location: Choose a bank that is close to your residence or workplace for easy business handling in the future.

2. Prepare documents

The following documents are required to open a private bank account:

Valid passport: Provide the original and a copy of your passport to ensure that it is valid.

Residence permit: If applicable, provide a UAE residence permit or long-term visa, such as a work visa, investment visa, etc.

Proof of identity: If you have applied for an Emirates ID, you need to provide the original and a copy; if you are in the process of applying, you can provide the receipt.

Proof of address: Provide proof of residential address in the UAE, such as utility bills, lease agreements, or bank statements.

Proof of income: Some banks may require proof of income source, such as an income certificate provided by the employer, a tax bill, or a bank statement. Freelancers or company owners may need to provide documents such as a business license.

3. Make an appointment and go to the bank

Make an appointment with the selected bank to open an account. You can make an appointment by phone, official website or bank app.

Go to the bank branch with the prepared documents at the appointment time, meet with the bank representative and submit the application form.

4. Fill in the application form and submit documents

Fill out the account opening application form at the bank, fill in your personal information, contact information, occupation, etc.

Submit the prepared documents, including passport, residence permit, identity certificate, address proof and income proof, etc.

5. Review and approval

The bank will review the submitted documents and information, including identity verification, address verification, and income verification.

After the review is passed, the bank will approve the account opening and provide account information, including account number, online banking login information, etc.

6. Activate your account

Depending on the bank's requirements, you may need to verify your identity or visit the bank to activate your account.

After activating your account, you can start using related banking services such as deposits, withdrawals, transfers, etc.