Local Bank Account Opening

local bank account

Why do we see the opening of a bank account an essential service for expats who are relocating to Dubai?

Easy access to financial services:

An expat who has just arrived in Dubai may find it difficult to manage the finances without a local bank account. By providing assistance with opening a bank account, expats can easily access financial services, such as transferring money, paying bills, and managing their
finances.

Simplify the process of paying rent and bills:

Many landlords and utility companies in Dubai require payments to be made through local bank accounts. By opening a bank account, expats can simplify the process of paying rent and bills, avoiding the need to carry large sums of cash or use expensive wire transfer
services.

Building credit history:

Opening a local bank account can also help expats build their credit history in Dubai, which may be important if they plan to apply for
loans or credit in the future.

Avoidance of currency exchange fees:

Expats who use their home country bank accounts to conduct transactions in Dubai may incur currency exchange
fees, which can be costly. Having a local bank account will allow them to transact in local currency, avoiding unnecessary fees.

Overall, opening a bank account is an important service for expats relocating to Dubai, as it provides them with easy access to financial services, helps them avoid unnecessary fees, simplifies the process of paying rent and bills, and allows them to build their credit history.

Local Bank Account Opening