Paying tax on money that you have invested in a bank can be a source of frustration for many. However, you can move your money and make it work for you with a bit of creativity! The UAE is an attractive prospect for many, given its Islamic finance that prevents taxation on bank accounts and its status as a safe and secure banking destination.
The seven emirates of the UAE, which includes Abu Dhabi and Dubai, have become a hub of global business and hundreds of thousands of people from more than 200 countries around the world have made it their residence for many reasons – including liberal tax regulation.
Banking inside the country is easy for residents, but it is also possible for non-residents to make the most of the UAE’s banking system though there is a different set of rules and processes for this to happen and more supporting documents are required, and you may not have access to the full suite of banking options as a non-resident.
Whatever your circumstances are, if you wish to establish a UAE bank account talk to Setup Zone in partnership with Beyond Limits Business Center. We are able to help advise you on the banks and account options and other services, such as internet banking and loans, that will best suit your needs. We are here to help you get the most out of your hard-earned savings!
Requirements of Bank Account Opening in the United Arab Emirates
|Trade License & All registration Docs||Passport Copy|
|Passport copy of UBOs||Residency Visa|
|Passport copy of the company manager||Salary Certificate|
|Proof of Residential Address|