GSL / Offshore and International Law / 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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Beginning of cooperation

March, 2008

Last contact

June, 2022

Last update

April, 2022

Key information and main requirements:
- 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, UAE offshore companies; personal accounts for residents and non-residents;
- the minimum average monthly balance in the account is 10 000 AED (~ 2 730 USD) - 3 500 000 AED (~ 953 000 USD);
- the beneficial owner must visit the UAE for account opening;
- USD payments are possible;
- the bank issues bank cards;
- pre-approval procedure: a positive answer means that the account is most likely to be opened;
- account maintenance fee is charged for certain tariffs;
- online banking in English

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

Beginning of cooperation
March, 2008
Last contact
June, 2022
Last update
April, 2022
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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
The bank does not have Russian-speaking staff
Bank’s shareholders
Investment Corporation of Dubai (UAE) - 55,64%; Public - 44,36%
Confidentiality
AML legislation is strictly observed
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    Minimum requirements

    12 670
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    12 670
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Minimum balance, €
    The minimum balance of the account is AED 10 000 - AED 3 500 000 (depending on the 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

    13
    Outcoming transfer, €
    0
    Incoming transfer, €
    0
    Account maintenance, €/year
    No restrictions
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Foreign currency transfer fee is 78.80 (~21 USD) and 52.50 (~14 USD) - online
    Incoming transfer, €
    There is no charge for incoming payments
    Account maintenance, €/year
    The account maintenance fee is charged only for the Prime plan and ranges from 157.50 AED (~43 USD) 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

    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 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
    Personal; Corporate; Savings; Current
    Chances to open an account
    Predictable
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