Hi Folks,

i know it has already been discussed in the forum but i have to bring up again this issue and I am looking for realiable, checkable information this time:

WHERE IN DUBAI CAN I OPEN UP A BANK ACCOUNT (PREFEREBLY WITH ONLINE ACCESS) WITHOUT A RESIDENCE VISA?

- I have 4 properties in Dubai and therfore i am eligible for a Visa in 2009-2010 (but not now)
- currently I have an online Account (savings) with Citibank. My other accounts had to be closed as my Visa vanished when i finished work 2006 in Dubai. They told me as soon as you have the Visa Sir we can open up other accounts for you, no problem!

I will be in Dubai in Dezember 2008 again. As i am not really satisfied with the Services offered from Citibank i am looking for a new bank. I have several payments to be done within the next 12 month and yearly rent incomes upcoming (around 300-500k) by 2010. I need a bank which is offering something for my needs without having a residence visa and additionally i need reasonable interest rates on my money parked in my bank account or other investment options (at Citibank they do not offer anything at all without a Visa -only Interest rate which is about 1%).

I spoke to many people -at Citibank- and they all told me 'Sorry Sir, without a Visa you cannot open any accounts here in UAE, no one can even not with other Banks!'. For me it's really hard to believe precisely because Dubai wants to be the new financial and banking city... how, if people cannot open up bank accounts? In other countries all over the world this is possible...
Thus folks, please provide me with information about this topic and best case list up solutions Anyone here having the same problem?

Thank you!

Im in the UK and opened an account with HSBC Bur Dubai recently.Firstly I had to open an account with my local HSBC branch before I could open one over there.I then got the releavant forms and opened the account for £100.

DoBuy: Do you mean that it cost you £100 to open this HSBC account, or you had to deposit £100 as a minimum to open it?

Hmm, i read this option before somewhere... But what kind of account did you open? Savings Account? And what kind of investment options do they offer to you? What interest rate do they pay you? Do you have online access? What does it cost?
There MUST be another way! It can't be that i first have to travel to UK and than to Dubai just to open a bank account

Fanny,it cost me £100 to open it,this was not a deposit.I was told before that I had to keep at least 5000aed in there at all times otherwise I would be charged around 100aed per month.Although its only around 2 months old and its empty,so far I havent been charged.
DayFox its just a regular savings account.I dont know what the interest is.I dont really care as the rental money I will have going in wont be there long enough to worry.
I emailed them only a couple of days ago to find out if I can access it online.No answer yet.
I would think you could open an account with HSBC dubai by first opening one at a local HSBC where ever in the world you are.I would imagine you could also open one direct but for me it was far easier doing it through a local branch.

or you open a HSBC Premier ACCOUNT in UK and then get your personal relationship manager to open a Premier account in Dubai FOR FREE. You get internet banking and you can see all your accounts globally in one page. Pretty useful if your investing all over the place!

Good Luck!

Emirates NBD, i had a savings account with Emirates for 6 months till i got my residency, excellent online banking, you can execute transfers etc easily, the rates on their deposits are not amazing but its better than nothing, check their website for the most recent rates, mebank.ae

is anyone aware whether Barclays have presence in Dubai and if they are able to assst with opening an account in Dubai without having to visit the place?.

The question would be if they open an account for you without a Residence Visa!

Yes, there are 2 branches. I tried to personally open an account at the "Bank Street" branch last year while on I was there on holiday... they lost the form, didnt answer the phone or respond to emails. From the UK, Barclays refuse to open an account over there even though it says on their webiste that they could. the Barclays UAE operation is rubbish, save youself a headache and avoid!