Bank Account

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Bank account Aug 17, 2005
Hi there!

Next week I will start working for a company registered in the Dubai free zone (Internet City).
I will be travelling alot across MEA so I will not spend much time in Dubai (max 5days/m)
However I will need to open a bank account in Dubai to get paid.

1)What kind of documents I need to do that?

2) My employer told me that he will get an "employment visa" - Is this the same with Residence Permit? - As far as I know I will not have a permanent address in Dubai - and I will stay in hotels there.

3) Any recommendation for banks with decent internet banking?
As I plan to transfer EUR or USD to my home country - whats the real exchange rate trough the bank account - I expect this to be a few percent in the banks pocket above the official rate

4) How long it takes them to issue a credit/debit card

5) Do you members and "forum addicts" have a regular place to hang out? maybe we can meet

Thx
Robert

RobertS
Dubai Forum User
Posts: 24
Location: Middle East & Africa

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Re: Bank account Aug 17, 2005
RobertS wrote:Hi there!

Next week I will start working for a company registered in the Dubai free zone (Internet City).
I will be travelling alot across MEA so I will not spend much time in Dubai (max 5days/m)
However I will need to open a bank account in Dubai to get paid.

1)What kind of documents I need to do that?



Original and photocopy of Passport plus entry permit/Residence Visa

2) My employer told me that he will get an "employment visa" - Is this the same with Residence Permit? - As far as I know I will not have a permanent address in Dubai - and I will stay in hotels there.


Ya, its the same thing. Having a residence permit doesnt require having a permanent address, the only condition is that you have to be in the country once every six months.


3) Any recommendation for banks with decent internet banking?
As I plan to transfer EUR or USD to my home country - whats the real exchange rate trough the bank account - I expect this to be a few percent in the banks pocket above the official rate


Your probably better off openning an account with a bank that has a branch in your home country i.e citibank, hsbc , etc ..

I use Emirates bank, there online banking is good (does what i need it to do) and i get paid in USD and the exchange rate is 3.65 .. its 3.68 outside



4) How long it takes them to issue a credit/debit card


it took 2 days with my bank ..

5) Do you members and "forum addicts" have a regular place to hang out? maybe we can meet


I am not a forum addict .. yet .. so i wouldn't know :)

Thx
Robert


Your welcome :P
MaaaD
Dubai Forums Zealot
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Posts: 3401

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Aug 17, 2005
Hey Robert,

I bank with HSBC, purely because my accounts back in the UK are with the same, so it makes it dead easy for transfering money and their internet banking is very good, where are many local banks in the UAE - no offense - but you'd think it was the dark ages, you have to go to the branch to do anything - yeah right - use the net!!!!! I never go to the branch for ANYTHING!

For credit cards you'll require a salary certificate and no objeciotn letter from your employer, plus they normally like to see 3 months salary having gone into your account before they issue you with one.

You can't get an account until you get your residence visa. Until then most companies issue cashable cheques and you can always send cash back via Western Union.

The exchange rate for dollars is alwasy 3.65, plus whatever their commission/fee is.
Chocoholic
Miss DubaiForums 2005
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Posts: 12833

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Aug 19, 2005
Yes, I did read your replies as soon as you posted them. Today while reading and reading other topics it come to my mind that if I expect next time usefull replies as yours from and other members there is at least one thing that I have to do:

THANK YOU!

On the other hand I was wandering if post like this with no info doesen't affect the readability :? of the forum for the people like i was before i registered - loking for info, info and more info

blah, blah....

I thinktomuch .... maybe ... or not ... do I?

Robert
RobertS
Dubai Forum User
Posts: 24
Location: Middle East & Africa

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Aug 19, 2005
Not at all buddy....

In your location it says MEA.... The only MEA I know of is Lebanon's national carrier Middle East Airlines... You don't mean that do you?
Liban
Dubai Forums Zealot
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Posts: 4683
Location: Dubai, UAE (Part of the Arab Nation)

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Aug 19, 2005
Liban wrote:Not at all buddy....

In your location it says MEA.... The only MEA I know of is Lebanon's national carrier Middle East Airlines... You don't mean that do you?


I hate abr. ! sorry. Now its clear.
Or is not? - Well - that's what signed up for in my employment contract - something like "extensive travel in MEA countries"
I already know - the first trip within 2w to Iran - than... who knows...

Robert
RobertS
Dubai Forum User
Posts: 24
Location: Middle East & Africa

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Aug 19, 2005
What kind of job do you have?
Liban
Dubai Forums Zealot
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Posts: 4683
Location: Dubai, UAE (Part of the Arab Nation)

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