My 0.02 from the real UAE world...I would definitely refrain from opening a) non-resident accounts (no bank will do that for you, forget the fake news from aggressive sales guys telling you otherwise), unless you're willing to pony up AED1M and get the property investor visa; and b) don't open let's say bogus/shell/not.enough-substance companies anywhere in the UAE except perhaps in Dubai and/or Abu Dhabi (if you're extremely lucky you might open with the bank mentioned below, not at all a certainty), as it¡s now mostly a waste of time and money (money that will be collected by any agency that pitches you for it, even those already mentioned here). I'll explain in as much detail as typing at this hour of the night will allow me. I've so much changed my take on how to do things in the UAE that I barely recognize myself from merely 6 months ago (reality teaches quicker than any book, that's a given).
I obtained my Emirates ID through a very different approach than those sought here. I understand
@rowena has got a legit/substance-based business, so anyone in his shoes (issuing recurring invoices to customers and having a real business on/off-line) may well try the company set-up route. But things have changed anyway, and even in this case it's going to be a tough endeavour as a foreigner. However, I feel that's not the route most of the people here willing to go offshore through the UAE want (come on, let's be a bit honest here, isn't it for getting away from the predatory totalitarian west regimes that are dawning upon us?), hence you need to be forewarned that things in the region have changed enormously, not in the last 10 years, but in just the last couple of years. Or 6 months, for that matter. It's one of the pleasantries of being ruled by a 'ruler'...
My route ended up through a local sponsor, as the co-owner of a company. Even using such a bullet-proof route (on an LLC Corporation, not a simple LTD or FZE), where there was once an initial timing estimate of 4 weeks, it ended up being 8 months (almost 9 if you count the
bank account opening).
Before that, I had spoken to people in Ajman Creative City , Fujairah CC, and also some Dubai freezones like Media City, Airport or Jabal Ali, on taking the 'best-seller' route of establishing a freezone Co, and none of them guaranteed a bank account opening for the company. They just, literally, said 'it's very hard nowadays, but not impossible'. And they seemed to have the same script to read from. I got the list of requirements from different banks and the 'less strict' of them all, Noor Bank (definitely forget
Emirates NBD and its subsidiaries/participated banks), is already asking for tons of information to get things done and don't count on seeing it through in less than 8 weeks, period).
Personally, I ended up with a bank a/c at an international bank, and will next open with a local one (only one of the top dogs from Abu Dhabi, I would refrain from going with the smaller regional banks -even those supposedly guaranteed by the state, like UAQ bank, etc-).
That's a long-story short that I hope may help someone.
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