Best Banks For Expats In The UAE part 2 – Part one is here.
Requirements to Open a Bank account in the UAE
Opening a bank account in the UAE is possible, provided that you know what requirements are needed. For information purposes only, these requirements can vary between banks and even depend on your nationality (and sometimes also depending on your profession). These requirements to open a bank account in the UAE might vary if you’re a UAE national or not.
1. Required Documents – UAE National
The required documents to open a bank account in the UAE, for a UAE national, can vary between banks and might even depend on your profession. The most common required documents will be:
- A copy of your passport (and sometimes also a residence permit)
- Two Emirates ID pictures (3cm x 4cm)
- Your company’s trade license (if you’re employed)
- A copy of your work contract (if you’re employed – and this might differ if you work under a limited or unlimited contract)
2. Required Documents – Expat with UAE Work Visa
The required documents to open a bank account in the UAE for an expat with a UAE work visa can vary between banks and might depend on your profession. The most common required documents will be:
- A copy of your passport (and sometimes also a residence permit)
- Two Emirates ID pictures (3cm x 4cm)
- UAE Labour Card
- Signed employment contract issued by your employer
- Copy of the labor card application form
3. Required Documents – Expat with UAE Residence Visa
The required documents to open a bank account in the UAE for an expat with a UAE residence visa can vary between banks and might depend on your profession. The most common required documents will be:
- A copy of your passport (and sometimes also a residence permit)
- Two Emirates ID pictures (3cm x 4cm)
- UAE signed resident visa counterfoil stamp
- Copy of the labor card application form
4. Required Documents – Expat without UAE Residence Visa or Work Visa
The required documents to open a bank account in the UAE for an expat without a UAE work visa or residence visa can vary between banks and might depend on your profession. The most common required documents will be:
- A copy of your passport (and sometimes also a residence permit)
- Two Emirates ID pictures (3cm x 4cm)
- Your company’s trade license (if you’re employed)
- A copy of your work contract (if you’re employed – and this might differ if you work under a limited or unlimited contract)
5. Required Documents – Expat with UAE Family Visa
The required documents to open a bank account in the UAE for an expat with a UAE family visa can vary between banks and might depend on your profession. The most common required documents will be:
- A copy of your passport (and sometimes also a residence permit)
- Two Emirates ID pictures (3cm x 4cm)
- Your husband’s/wife’s UAE signed family visa counterfoil stamp
- Copy of the labor card application form
Why Moving to UAE in 2022
The UAE’s capital is known for its skyscrapers and because it has more luxury hotels than any other city in the world. But as a global hub of culture, industry, and tourism, Abu Dhabi is well worth considering as a place to settle down.
Right now, many expats have already done just that. So what are the reasons why the UAE should be the next stop on your move abroad list?
World-Class Education Systems
With public schools mandated for all children by age 6, education in Abu Dhabi is widely available to both citizens and expats alike. Reflecting the diversity of its population, students may choose between Arabic language schools and international schools, such as British and American institutions.
Additionally, many home-schooling options cater to parents who value experiential education and those who can’t afford or don’t want to send their kids abroad for extended periods.
Although these options were designed to help compensate for the vast number of students in a single classroom, the UAE has recently rolled out a new education system that will see children split into much smaller groups and receive more individualized attention throughout their years of schooling.
Successful National Healthcare System
Although Abu Dhabi is home to many expats and international healthcare professionals, it’s also home to a well-developed national healthcare system. In fact, Abu Dhabi residents pay less in monthly health insurance premiums than they would for their auto insurance!
And with several hospitals and medical centers, including the well-equipped Sheikh Khalifa Medical City Hospital, all residents have access to a full range of healthcare services no matter how they choose to approach their private healthcare options.
Access to the World’s Best Cuisine
As residents of Abu Dhabi, you’ll be happy to know that you’re in one of the best spots in the world to indulge your epicurean tastes. With internationally acclaimed restaurants and award-winning chefs, it’s no wonder that travelers from around the globe flock here for luxury food tasting tours!
But that’s not to say that you need deep pockets to enjoy the best food the world has to offer. For example, Abu Dhabi is home to many traditional Emirati restaurants – perfect for satisfying your craving for Middle Eastern street food without having to travel down south.
Low Pollution Rates
As one of the world’s most well-developed countries, it should come as no surprise that the UAE has set strict environmental standards for itself. As a result, all local garbage is carefully recycled to reduce landfill waste and use the country’s natural energy resources. This includes electricity generated by burning gas extracted from landfills!
Plenty of Vacation Options
Between long stretches of prime golden beaches and desert dunes that rival many of the world’s most famous countries, there are many stellar options for enjoying a well-deserved vacation in Abu Dhabi. With roughly 365 days of sunshine every year, you’re guaranteed to find yourself feeling rejuvenated after your trip to Abu Dhabi – no matter what time of year you choose to visit!
High-Quality Housing Options
With a thriving real estate market and myriad property developers, there are plenty of housing options for people of all walks of life. Since the UAE is home to many expats who come from various countries, it’s important that they have an ample number of high-quality housing complexes to choose from.
This ensures that residents will never have to put up with any of the drawbacks of living in a community where you don’t fit in. In fact, the UAE has been so successful at attracting residents worldwide that they’ve even started building entire communities specifically designed for foreign buyers.
Conclusion
There are a lot of banks in UAE for expats. Many large international banks have branches and ATMs all over the country, so you should have no problem getting your hands on their services. Nonetheless, refer to this guide to know more about the banking system in the United Arab Emirates.
