NON-RESIDENT BANK ACCOUNT
A non-resident account in the UAE is a bank account specifically designed for individuals or businesses that are not residents of the country. It allows non-residents to establish a banking relationship in Dubai and benefit from the services offered by local banks.
Non-resident accounts provide access to international banking facilities, easy fund transfers, and the ability to transact in multiple currencies.
A non-resident bank account can make it simpler to manage your finances whilst you are living and working outside your home country.
What are the benefits of opening a bank account abroad?
In addition to providing you with a bank account in safe central location, a non-resident bank account offers a number of other benefits, these include:
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convenient and secure payment services
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no need to close and re-open your account if you move to another country
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ability to manage foreign exchange in a convenient, simple way
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getting access to international expertise and investment advice
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potentially tax-efficient savings and investments (you’ll need to declare any income or interest to the relevant tax authorities)