Where should I setup a bank account in UAE?
We asked expats in UAE what banks they use and there advice about banking. They advised...
"Before retiring in the UAE, expats should be aware of the cost of living, which is generally higher than in other countries. They should also be aware of the local laws and regulations, as well as the cultural norms and expectations. Additionally, expats should research the healthcare system and the availability of medical insurance. It is also important to understand the taxation system and the process for obtaining a residence visa. Finally, expats should familiarize themselves with the local language, as English is not widely spoken in the UAE," wrote a member who made the move to UAE.
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William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
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"There are many offshore banks which are appropriate for most expats (be careful if you're US). Local banks, even branches of larger, international banks, are really just locally-owned franchises. Don't expect the same type or level of service you might get back at home or you may become frustrated. There are different values here regarding "customer service." Offshore banks based out of the Isle of Man and other offshore centers often have accounts explicitly focused on the international expat. These will include features like international debit cards, domestic and international payments, multi-currency accounts. They're especially appropriate if you travel a lot. You should always check what type of insurance cover they carry for your deposits. Local banks offer local and international accounts with most of the features you'd expect from a bank. They're not very different from what you might expect at home in terms of services they provide. However, the laws regarding debt are different here. See below," explained one expat living in Dubai, UAE.
Other Questions:
- What do I need to know before retiring in the UAE?
- How do I meet people in the UAE?
- What is life like in the UAE?
- Is there a lot of crime in the UAE?
- Is there a lot of diversity? Are people in the UAE accepting of differences?
- What are the schools in the UAE like?
- Is the cost of living in the UAE high?
- What advice do you have for expats having a baby in the UAE?
- What are healthcare services like in the UAE?
- Is the cost of living in the UAE high?
- What type of recreational facilities are in the UAE?
- What is the weather like in the UAE?
- Are there good restaurants in the UAE?
- Where will I buy groceries and do other shopping in the UAE?
- What are the visa & residency requirements in the UAE?
- Are healthcare and health insurance expensive in the UAE?
- What do I need to know when buying property in the UAE?
- Are foreigners allowed to own property in the UAE?
- What appliances are typically included in a rental?
Where should I setup a bank account in UAE?
If you live in the UAE, newcomers to the UAE would love to hear your answer to this question.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.