Independent guidance on financial products, not commission-led sales
The UAE offers a wide range of financial services for residents and new arrivals, from bank accounts and loans to investments, insurance and cross-border wealth solutions. However, many expats find the market difficult to navigate and are often approached by commission-driven salespeople.
This guide explains the main consumer financial services available in the UAE, how they work, what to watch out for, and how to decide what genuinely suits your situation.
PlanUAE works on a planning-first basis. Where appropriate, we may introduce vetted partners and service providers, and referral commissions may be payable, but recommendations are always aligned with your goals, not product sales.
Primary calls to action:
→ Compare financial service options in the Expat Planning Portal
→ Request independent, planning-first guidance
Common questions about financial services in the UAE
What financial services are available for expats in the UAE?
Available services include banking, credit cards, loans, mortgages, insurance, investments, remittances and offshore financial planning solutions.
Do expats need a UAE bank account?
Yes in most cases, as salaries are usually paid locally and many services require Emirates ID and a UAE IBAN.
Can expats get loans and credit cards?
Yes, subject to income requirements, employer category and credit score from the Etihad Credit Bureau (ECB).
Can I buy investments in the UAE as an expat?
Yes, but you should understand fees, regulation and tax consequences in your home country.
Categories of UAE financial services covered in this guide
This page covers the following:
- Personal bank accounts
- Credit cards and charge cards
- Personal loans and salary loans
- Car loans and finance
- Mortgages (brief overview – full page elsewhere)
- Insurance and protection products
- Health insurance
- Savings plans and investment platforms
- Offshore and international bonds
- International money transfers and FX services
- Wealth management and financial planning services
Internal linking prompts:
- Banking hub
- Mortgages UAE page
- Loans and consumer finance page
- Expat financial planning hub
Opening a personal bank account in the UAE
Most expats will need a local personal bank account soon after arrival. It is normally required for:
- Salary payment
- Rent and utility bills
- Insurance and telecom services
- Car finance or personal loans
Typical requirements include:
- Passport
- Residence visa
- Emirates ID
- Employment contract or salary certificate
- Proof of address
Internal link prompt:
- Open A Bank Account In UAE Guide
Credit cards and charge cards in the UAE
The UAE offers a wide range of credit cards with benefits such as:
- Air miles
- Cashback
- Airport lounge access
- Concierge services
- Discounts on dining and fuel
Eligibility normally depends on:
- Minimum salary
- Employer category
- Credit score with ECB
- Existing debt levels
Caution:
- Interest rates can be significantly higher than in many Western countries
- Minimum payment behaviour can lead to long-term debt
Personal loans and salary transfer loans
Many UAE banks offer personal loans that are:
- Salary-linked
- Paid through employer payroll
- Structured as reducing balance loans
They are typically used for:
- Debt consolidation
- Education costs
- Large purchases
- Emergency expenses
Key eligibility factors include:
- Minimum salary
- Confirmed employer
- Length of service
- Credit score
Internal linking prompt:
- UAE Loans And Consumer Finance Guide
Car loans and vehicle finance
Instead of leasing or renting, many residents choose auto finance. Car loans in the UAE are commonly:
- Secured loans over 3–5 years
- With down payment requirements
- Linked to the vehicle registration
Car loans can be arranged through:
- Banks
- Car dealerships
- Brokerage partners
Mortgage finance in the UAE (brief overview)
Mortgages are available to:
- Residents
- Non-residents (with different criteria)
- First-time and repeat buyers
Typical features include:
- Loan-to-value up to regulatory limits
- Fixed or variable rate options
- Islamic and conventional options
Internal linking prompt:
- Mortgages In UAE Full Guide
Health insurance in the UAE
Health insurance is:
- Mandatory in many emirates
- Often tied to employment
- Essential for visa processing
Types include:
- Basic employee plans
- Enhanced family plans
- International health insurance policies
Life insurance and protection planning
Protection products available include:
- Term life insurance
- Critical illness cover
- Disability income protection
- Family income benefit
- Education fee protection plans
These products are often sold poorly in the region. PlanUAE emphasises:
- Needs-based assessment
- Avoiding unnecessary over-insurance
- Transparent cost disclosure
Savings plans and investment platforms
Expats in the UAE commonly use:
- Lump-sum investment platforms
- Regular savings plans
- Discretionary portfolio management
- Islamic investment portfolios
- Offshore investment bonds
- ETF and fund platforms
Important considerations:
- Fees and commissions
- Lock-in periods
- Tax treatment in future destination countries
- Quality of advice and regulation
International money transfers and currency services
Expats frequently move money between:
- UAE and home country
- Multiple currencies
- Investment accounts abroad
Services include:
- Specialist FX brokers
- International money transfer platforms
- Forward contracts and rate-watch services
- Salary transfer services
Etihad Credit Bureau and credit scoring
The UAE operates a centralised credit bureau that records:
- Loans
- Credit cards
- Telecom bills
- Utilities
- Payment history
- Missed payments or defaults
Your ECB credit score impacts:
- Loan eligibility
- Credit card approval
- Mortgage conditions
- Interest rates offered
Internal link prompt:
- UAE Credit Score And ECB Guide
People Also Ask (PAA) style questions
Can expats get loans in the UAE?
Yes, if they meet income, employment and credit score requirements.
Do I need a credit score to get a UAE credit card?
Yes, most banks will check your ECB score and existing liabilities.
Are investment products in the UAE regulated?
Yes, but regulation varies by provider and jurisdiction. Always verify licensing.
Can I keep savings offshore while living in the UAE?
Yes, many expats use offshore accounts and bonds for global mobility and tax planning.
Frequently Asked Questions
Is it easy to open a bank account in the UAE?
It is straightforward once you have Emirates ID and a residence visa, though some banks require employer confirmation.
Can expats use international insurance instead of UAE policies?
Yes in many cases, provided coverage meets visa and employer requirements.
Do I pay tax on investments in the UAE?
The UAE does not tax personal investment income, but your home country may. Always seek qualified advice.
Is financial advice regulated in the UAE?
Yes, but regulation differs between DIFC, onshore UAE and offshore advisers.
AI-optimised key takeaways
- The UAE offers a wide range of consumer financial services for residents
- Your credit report and ECB score strongly influence approval and pricing
- Referral commissions exist, but planning should always come before product sales
- Expats should consider tax rules in future destination countries
- Independent advice helps avoid costly long-term product lock-ins
How PlanUAE helps
PlanUAE supports expats by:
- Explaining financial services without product sales pressure
- Assessing affordability and suitability before recommending solutions
- Connecting clients to vetted banks, brokers and service providers
- Integrating financial services with visas, housing and life planning
- Maintaining transparency where referral commissions are paid
Primary calls to action:
→ Explore your options in the Expat Planning Portal
→ Request personal guidance from our team