How to open a bank account in Un Bank

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

March, 2024

Last contact

November, 2024

Last update

June, 2024
  • the bank is licensed by the Central Bank of the UAE;
  • the bank has branches in Pakistan, UAE, Bahrain, Qatar and Oman;
  • the bank opens savings (deposit) and settlement accounts;
  • the bank opens accounts for local companies: LLC, Free Zone Company (there are no restrictions on the emirate / FEZ of company registration), it is possible to open an account for a non-resident company on condition of making a deposit (USD 5 000 000);
  • the bank opens personal accounts for residents and non-residents;
  • accepts citizens of the Russian Federation and the Republic of Belarus;
  • the bank opens accounts in AED, USD, EUR, CNY;
  • minimum account balance – AED 500 000;
  • the beneficiary’s visit to the UAE is required to open an account;
  • proof of residence in the UAE is NOT required;
  • the bank accepts companies with flexi desk;
  • the bank is ready to consider non-resident companies for account opening;
  • bank cards can be issued;
  • pre-approval is possible before opening an account;
  • transactions from the Russian Federation are possible (only for incoming payments);
  • transfer fee – AED 100 (~ USD 27)*;
  • account maintenance fee is charged in case of minimum balance reduction and is from AED 25 (~ USD 7)* per month;
  • Internet bank in English

*These are approximate tariffs, as they may ultimately differ depending on the client’s chosen service programme with the bank

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

Not rated
Global rating
Not rated
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1969
History
The bank was founded in 1969
Personnel
There are English-speaking staff
Bank’s shareholders
The bank's shares are listed on the stock exchange. The largest shareholder of the Bank is a British investment company
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

    100 000
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    100 000
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    Minimum account balance - AED 500 000 / USD 100 000 / EUR 100 000
    Transactions permitted per month
    No restrictions on the number of transfers
    Initial deposit of funds, €
    The initial deposit is equal to the minimum account balance
    Deadline for the initial deposit, month
    To be entered when the account is opened
    Minimum turnover, €/year
    No special requirements for company turnover
    How fast payments are executed
    Same day or next day

    Tariffs and services
    Tariffs and services

    25
    Outcoming transfer, €
    0
    Incoming transfer, €
    75
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    The transfer fee is from AED 100
    Incoming transfer, €
    The bank does not charge a fee for incoming transfer
    Account maintenance, €/year
    Account maintenance fee will be charged if the minimum balance is reduced and is from AED 25 (~ USDS 7) per month
    Distant access to the account
    Internet banking in English
    Financial products
    The Bank provides a wide range of banking and financial services
    Credit/debit cards
    Bank cards can be issued

    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
    A visit by the beneficiary to the UAE is required to open an account
    Required
    For a corporate account: completed bank forms for the company and the owner; bank statements for the last 6 months (if the company is new, you can provide account statements from another company of the owner); copies of current contracts with counterparties; office lease agreements, cash flow chart, ownership structure chart, etc.

    If there is more than one shareholder in the company, each shareholder must have an Emirates ID if the shareholding is more than 25%.

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

    The list is not exhaustive. The bank has the right to request any other documents and information
    Types of accounts
    Savings; Current
    Chances to open an account
    Predictable

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    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    3 250
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    3 250
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    239
    1
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