Account Holding & Golden Visa Process

04 Apr 2023

To open an account for an overseas buyer in the UAE, you will need to follow the steps below:

  1. Choose a bank: 

First, choose a bank in the UAE that offers services to non-residents. Some of the popular banks in the UAE are Emirates NBD, Abu Dhabi Commercial Bank, and Dubai Islamic Bank.

  1. Submit necessary documents: 

The bank will require the buyer to submit necessary documents, such as a passport, proof of address, and other identification documents. To open an account for an overseas buyer in the UAE, the buyer will need to provide the following documents:

  • Passport copy
  • UAE entry visa or Emirates ID
  • Proof of address (utility bill or tenancy contract)
  • Bank reference letter
  • Company registration documents (if applicable)
  1. Meet minimum requirements: 

Depending on the bank, there may be minimum requirements for opening an account. This may include a minimum deposit or a minimum balance that must be maintained in the account.

The minimum requirement for cash to open an account will depend on the bank's policy and the type of account being opened. It's best to contact the bank directly for more information on their specific requirements.

  1. Complete application: 

Fill out the account application form and submit it along with the required documents.

  1. Wait for approval: 

The bank will review the application and will notify the buyer if it has been approved. Once approved, the bank will provide the buyer with the account details.


How to get a normal visa process fees and all in UAE. ( what would be the charges)

The visa processing fees and charges in the UAE vary depending on the type of visa, nationality, and other factors. Here are the general steps and fees for obtaining a normal visa in the UAE:

  1. Determine the type of visa you need: There are various types of visas in the UAE, including tourist visas, work visas, and student visas. The fees and requirements vary depending on the type of visa.
  2. Submit your application: You can submit your application through a visa application center, online or through an authorized travel agency. The process typically involves submitting an application form along with supporting documents such as a passport copy, photograph, and proof of accommodation and travel itinerary.
  3. Pay the visa fees: The visa fees also vary depending on the type of visa and the length of stay. The fees can be paid online, through the visa application center or travel agency. For a tourist visa, the fees can range from AED 300 to AED 700 depending on the length of stay, while a visit visa can cost between AED 700 to AED 2,000. Employment visas and residency visas usually involve additional fees and requirements.
  4. Wait for processing: Processing times for visas can vary, so it's important to apply well in advance. You may be required to submit additional documents or attend an interview.
  5. Receive your visa: Once your visa is approved, it will be stamped in your passport or issued as an e-visa.

It is important to note that visa fees and requirements can change at any time, so it is recommended to check the official UAE government website or consult with a travel agency for the most up-to-date information.

How to get a golden Visa requirement. This included opening an account End to End 

To obtain a Golden Visa in the UAE, you need to meet certain requirements and follow certain procedures. Here is a general overview of the process:

  1. Eligibility criteria: 

You must meet at least one of the following criteria to be eligible for a Golden Visa:

  • Investors: You must have a property investment of at least AED 5 million (USD 1.36 million) or have invested AED 10 million (USD 2.72 million) in a company in the UAE.
  • Entrepreneurs: You must have a business that has a minimum capital of AED 500,000 (USD 136,000) or have the approval of an accredited business incubator in the UAE.
  • Specialized talents and researchers: You must have a PhD degree from a recognized university, a special talent in the field of science, knowledge, or culture, or be a leading professional in a priority sector in the UAE.
  • Outstanding students: You must have a minimum GPA of 3.8 in a UAE-based university and have a distinction in any of the following fields: mathematics, physics, biology, engineering, or computer science.
  • Executive directors: You must be a current executive director of a company that meets certain criteria.
  1. Documentation: 

Requirements for the Golden visa depend on the type of residence, whether investor, talent, entrepreneur, etc. generally you will need to gather the required documents, which typically include:

  • A valid passport
  • Proof of residency
  • Proof of investment or ownership in a company
  • A business plan (for entrepreneurs)
  • A letter of recommendation from a recognized organization (for specialized talents and researchers)
  • A transcript (for outstanding students)
  • A letter from the company you are a director of (for executive directors)
  1. Application: You can apply for the Golden Visa through the Federal Authority for Identity and Citizenship (ICA) or through the General Directorate of Residency and Foreigners Affairs (GDRFA). You will need to fill out an application form and pay the required fees.
  2. Cost: The cost of a UAE Golden Visa varies depending on the type of service and visa category. For those applying from within the UAE, the cost is between AED 2,800 and AED 3,800, while those applying from outside the country will pay between AED 3,800 and AED 4,800. An application fee of AED 150 for the 10-year visa is also required. A medical examination, processing charge for an Emirates ID, and UAE health insurance, which starts at AED 800, are also necessary.
  3. Bank account opening: To open a bank account, you will need to provide the bank with your personal and business information, as well as the necessary documents to verify your identity and the source of your funds.
  4. Visa issuance: Once your application is approved, you will receive your Golden Visa, which is valid for 5 or 10 years, depending on the category you fall under.

Recent update: The UAE government has extended the validity of the Golden Visa from 5 to 10 years, making it more appealing to those who want to live and work in the UAE. Golden Visa holders can get a multiple-entry visa for 6 months to complete the Golden Visa procedures, and they are permitted to stay outside of the UAE for more than 6 months. Expats have 6 months to either change their status and get another residence visa or leave the country.

Overall, the process of obtaining a Golden Visa in the UAE can be complex and time-consuming, and it is recommended that you seek the advice of a professional to assist you with the process.