Dubai is one of the most modern and developed global business and financial centers. There is a variety of banks in the country – both for commercial purposes and with a full set of private banking services.
Banks in the UAE, that offer private banking services, can be divided into two main groups:
- Conventional large and medium-size local and international banks, which operate in the UAE, and offer both various ordinary banking services and preferred and private banking. For preferred banking servicing in such banks, according to the international standards, a comparatively small amount of the minimum balance in the accounts is required – on average from 100 thousand dollars. The minimum amount for private banking in such banks usually starts from 500 thousands. In this case, in fact, this type of servicing, in most cases, is a hybrid of conventional banking and private banking – you have a manager, who deals with your issues, and the terms of work, which are offered by the bank, are a bit better in comparison with regular onces. At the same time the costs of the main banking services remains the same as it is for the conventional banking services. The offer of the services of private banking in this segment are somewhat limited comparing with the private banking in its classical form.
- Classical international private banking comprises international banks, the majority of which have their subsidiaries in the Dubai international financial centre, the UAE. These banks offer the full range of services, which are offered by the international private banking: family office services, investment strategies, concierge services, personal communication with the manager and much more. The costs of services of such private banking are certainly higher than in the banks of the first category, and is comparable to the usual conditions in the industry of international private banking. The minimum balance, which is required to be available on the accounts of such banks, fluctuates from 1 million dollars and more.
Private banking – is the additional convenience and comfort when working with your bank, and also getting additional benefits, that are provided to you by the bank.
Our company provides assistance in opening all types of accounts in the UAE – conventional private, corporate, preferred and also in banks, which offer private banking services.