Sometimes it becomes a difficult experience for a trader to have an account abroad. It may, however, be simplified if few precautions and procedure is followed. Opening a Dubai bank account in the Dubai Islands banks demands a considerable amount of paperwork, as they are quite stringent to allot an account number. The paperwork is almost standardized in whole of the UAE banks and it may not seek a lengthy process, provided all the formalities are complied with legal documents.

As such, it is quite a fair deal on the part of Dubai government, as there are huge numbers of traders and travelers that seek to have an account in Dubai Arab Emirates. Hence, to extend their security hand it becomes inevitable to go through a strict, legal process to ensure safety for the existing customers.

Expatriate can easily get an account opened in Dubai banks after providing various documents including original passport with a valid residence visa and an official document of identification. This document may be the driving license or the salary certificate of the current employer. This salary certificate is also termed as no-objection certificate (NOC) which grants employee the permission of employer. Regarding address proof, the tenant’s agreement may be asked for, followed by few passport sized photographs.

Moreover, in case of opening an account for dependents, you tend to act as a sponsor like your employer does for you. It must be noted that each country has its norms to work, so does, Dubai posses. Writing a bad cheque is considered to be a criminal offense and heavy duties in form of penalties may be levied on you. As such, it is a common issue due to which people of Dubai are dicey about this concept. Being a non-recoverable offense, they prefer to make and receive payments in cash. Besides the strictness, there are many kinds of accounts that may be allotted according to the preferences.

The features of Dubai banking are briefly discussed below:

Salary transfer: to open a salary account it is mandatory to get a NOC from the employer. This document contains the salary details of the employee and automatically the employer becomes the sponsor for this account. Additionally, it is important to show your passport with valid residence visa accompanied by few passport sized photographs.

Internet banking: unlike other countries, there are strict rules to avoid security destructs and other hustles. There are few banks providing facility of internet banking and payment of bills through net. Rather, for even meager changes in accounts, you may be called to bank.

Foreign currency accounts: due to the increasing number of expatriates in Dubai, there arose a need to open foreign currency accounts at local banks. They act as the lifeline for people who earn there and send the money to their homes. This service tends to convert Dh. into common currencies like dollars and pounds which are easily convertible to the required currency.

Loans to public: it is very amusing to receive calls for loans every time you are in Dubai. Dubai banks are experts in attracting new traders and people in Dubai for loans. There are all kinds of loans that are offered to the people, two of which are personal loan and auto loan. They are very common that attracts present gentry of Dubai.

• Personal loan: they can be taken manifolds of what you are earning. The limit may vary from 10 times to 25 times of the salary of a person depending on the duration he has been working for the company.

• Auto loans: they are apt for people who have small requirements as they feature low rates of interest and easy repayments as compared to personal loans.