Managing your funds in the UAE is a primary responsibility for expats. The UAE banking industry accommodates individuals with a big financial gain. The UAE is essentially a series of oil boom cities with an ultra-progressive commercial sector. You can establish a personal or corporate residents individual account in Dubai if you have a resident visa. Expats without a residency visa can only create a savings account, but many banks will provide you an ATM card so you may withdraw money.
The UAE has become almost associated with money, bank accounts, and tax systems due to its status as a “tax-free” country. Expats from all over the world rush to the desert country to work for a UAE-based firm or start their own business, and it’s easy to see why: working in the UAE allows people to save more money than they would in most of their home countries.
The International Accounting Standard, the International Financial Reporting Standards, and, most recently, the capital adequacy criteria in line with Basel III norms have all been accepted by UAE banks. All banks in the UAE provide services in both English and Arabic.
