The Question: What is the Minimum Amount of Money Allowed to Open an Account in Dubai?

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Can I open a bank account in Dubai as a non-resident? I am a Sudanese and also I am an American citizen. I would like to know what is the minimum amount of money allowed me to open an account in Dubai?

Answer:

One of the major requirements to be able to open a bank account in the United Arab Emirates is the Residency Visa. If you are not currently resident, and not planning to become one, then I recommend forming an Offshore (IBC) License that will allow you to open a Corporate Bank Account underneath.

The Offshore License option is the most cost-effective solution to served the need of opening a Bank Account. Meanwhile, the Corporate Bank Account will not limit you with your financial transactions and it will give you ZERO restrictions for any capital repatriation.

I hope the information above helps.

Author: Hassan Elhais

Date Updated: January 26, 2017

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