Can tourists open bank accounts in the UAE?

Dubai: Saudi Arabia's decision to allow visitors to open bank accounts using a “Visitor ID” has sparked regional interest in how financial access could evolve across the GCC. The move, announced by the Saudi Central Bank (SAMA), is being viewed as part of the Kingdom’s broader digital transformation and financial inclusion agenda.

While this development marks a new chapter in Saudi Arabia’s financial services landscape, it also raises a question: Could similar measures be considered elsewhere in the region, including the UAE?

As per SAMA’s announcement, individuals holding a visit visa in Saudi Arabia can now open a local bank account using a “Visitor ID” issued by the Ministry of Interior. This ID is digitally verifiable and is now accepted by banks as a valid identification document.

The aim, according to SAMA, is to enhance financial accessibility, streamline visitor experiences, and align with evolving global banking standards — especially as part of the Kingdom’s Vision 2030.

The UAE’s banking framework, supervised by the Central Bank of the UAE (CBUAE), currently requires individuals to hold a residence visa and Emirates ID to open standard personal or business bank accounts.

This reflects the country's robust approach to risk management, anti-money laundering (AML) compliance, and KYC (Know Your Customer) norms — all essential pillars of a secure and stable financial ecosystem.

While some UAE banks do offer non-resident or visitor accounts, these services come with limited functionality and stricter documentation requirements, such as:

These safeguards are in place to ensure that financial services are extended responsibly, and in alignment with local and international regulatory standards.

There is no official indication at this time that the UAE plans to introduce similar policies as Saudi Arabia. However, the UAE continues to lead on digital banking, fintech innovation, and financial inclusion initiatives in the region.

With large volumes of short-term visitors, business travellers, and investors passing through the country year-round, there may be future opportunities for policy evolution — if supported by appropriate digital infrastructure and regulatory safeguards.

That said, any such move would likely undergo detailed evaluation by UAE authorities, balancing the benefits of expanded access with the need to maintain financial system integrity and national security priorities.

For now, visitors to the UAE who need banking access can consider: