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once the company is formed you can get a bank account without residency visa however there will be additional documents required by the bank for eg – his home country business documents and its bank statement – other docs depends on his profile which bank will inform the client.
How to open a personal bank account for a foreigner in UAE. Without having a residence visa?
Answer- Some banks do open. However, they ask for a savings plan starting 1000 USD a month for 5 years. Transaction charges are AED 75 per transaction. Online access is provided. Documents required are –
a. Six months bank statement
b. Bank reference letter from a bank in the home country or elsewhere in English saying that conduct of the account is satisfactory
c. Personal presence with own passport is needed at the time of signing the application.We found this answer here in forum then send it to client.
Question: Are there other banks that can offer less monthly average balance? As per client, 1000USD per month is impossible for his small company. PLease note that this query is from existing client. His company is registered in RAK ICC and our team is in touch with him for renewal/closing.
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