GSL / Offshore and International Law. Offshore companies registration. / Offshore Banking / Emirates NBD PJSC

How to open a bank account in Emirates NBD PJSC

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

March, 2008

Last contact

November, 2024

Last update

August, 2024
  • the leading bank in the region;
  • the bank opens savings (deposit) and business accounts;
  • the bank only opens accounts to local companies: LLC, Free Zone Company, some UAE offshore companies; personal accounts for residents and non-residents;
  • the bank does not open accounts for non-Emirati companies;
  • the bank works with USD, AED, EUR, GBP, CNY;
  • minimum average monthly account balance – from AED 200 000 (~ USD 54 400) – depending on tariff;
  • the account signatory / beneficial owner must visit the UAE for account opening;
  • the bank issues bank cards;
  • pre-approval procedure: a positive answer means that the account is most likely to be opened;
  • 5 any transactions per month are free of charge, each subsequent transaction – AED 20 (~ USD 5,5)*;
  • account maintenance fee is charged in case the minimum balance decreases and is 250 AED* (~ USD 68) per month;
  • online banking in English

* These fees are indicative and may vary depending on the banking package chosen by the client

GSL rating
rating
Beginning of cooperation
March, 2008
Last contact
November, 2024
Last update
August, 2024
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General information and rating
General information and rating

239
Global rating
1
Countrywide rating
—
Countrywide rating of the head bank
—
Global rating of the head bank
Year of foundation
2007
History
Emirate NBD was formed in October 2007 following the merger of Emirates Bank International (EBI) and National Bank of Dubai (NBD) and immediately became the largest (in terms of assets) Gulf bank with total market capitalization of USD 11.3 billion. And retains this status to date. The bank operates in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom, Singapore, and Jersey, and has representative offices in India and Iran
Personnel
There are English-speaking staff
Bank’s shareholders
Investment Corporation of Dubai (UAE) - 55,64%; Public - 44,36%
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements
    Minimum requirements

    50 600
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    50 600
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Minimum balance, €
    Minimum average monthly account balance - from AED 200 000 (~ USD 54 400) - depending on tariff
    Transactions permitted per month
    There are no restrictions on the number of transactions
    Initial deposit of funds, €
    The initial deposit equals the minimum balance
    Deadline for the initial deposit, month
    The initial deposit is made at the time of opening the account
    How fast payments are executed
    The payments are executed same day

    Tariffs and services
    Tariffs and services

    5
    Outcoming transfer, €
    5
    Incoming transfer, €
    0
    Account maintenance, €/year
    No restrictions
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    5 any transactions per month are free of charge, each subsequent transaction - AED 20 (~ USD 5,5)
    Incoming transfer, €
    5 any transactions per month are free of charge, each subsequent transaction - AED 20 (~ USD 5,5)
    Account maintenance, €/year
    Account maintenance fee is charged in case the minimum balance decreases and is 250 AED (~ USD 68) per month
    Distant access to the account
    Online banking in English
    Financial products
    The bank offers a wide range of banking and financial services, including bank accounts for corporate and individual clients, private banking, asset management, investments, and loans
    Credit/debit cards
    VISA, MasterCard

    Account opening procedure
    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    The account signatory / beneficial owner must visit the country for account opening
    Required
    For a corporate account: completed bank questionnaires for the company and owner; bank statements from the company account for the last 6 months (if the company is new, then bank statements from the owner’s other company account); copies of existing contracts with partners; office lease contract, cash flow chart, ownership structure chart, etc.

    For a personal account: proof of identity (passport); proof of address (not older than 3 months); Resident Visa; CV; bank reference letter + bank statements for the last 6 months.

    The list is not exhaustive. The bank may request any other documents and information
    Types of accounts
    Savings; Current
    Chances to open an account
    Predictable
    Offers
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    Obtaining a residence visa in the UAE. “Golden visa” for exceptional talents in the field of culture and art Service offer

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    USD 4 500

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    Banks of UAE

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    Digital Bank UAE
    3 250
    N/A
    N/A
    Nel Bank
    3 250
    N/A
    N/A
    Un Bank
    3 250
    N/A
    N/A
    Dubai Islamic Bank
    3 250
    N/A
    N/A
    Arab African International Bank
    3 250
    N/A
    N/A
    Sharjah Islamic Bank P.J.S.C
    3 250
    N/A
    N/A
    Commercial Bank of Dubai (CBD)
    3 250
    N/A
    N/A
    Banque Misr
    3 250
    N/A
    N/A
    Emirates Islamic Bank
    3 250
    N/A
    N/A
    Abu Dhabi Islamic Bank (ADIB)
    3 250
    N/A
    N/A
    Abu Dhabi Commercial Bank (ADCB)
    3 250
    N/A
    N/A
    Mashreqbank
    3 250
    N/A
    N/A
    Ajman Bank
    3 250
    N/A
    N/A
    Emirates NBD PJSC
    3 250
    239
    1
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