Opening a Bank Account Abroad: Country-by-Country Guide

Opening a bank account in a foreign country is one of the first practical steps most expats face — and one that can prove surprisingly frustrating without adequate preparation. Requirements vary enormously between jurisdictions, from the remarkably straightforward to the bureaucratically tortuous. This guide covers the key steps and local nuances across the most popular expat destinations for internationally mobile individuals in 2026.

A central tension to be aware of: most countries require proof of local address to open an account, but you often need a bank account to complete the paperwork for your new address. Being prepared with a range of documentation and, where possible, initiating the process before arrival, can reduce this friction significantly.

United Arab Emirates (Dubai and Abu Dhabi)

The UAE is one of the more accessible banking markets for expatriates. Banks actively compete for expat business, and account opening — while not instantaneous — is generally achievable within a week or two.

Requirements typically include:

• Valid passport with UAE residency visa
• Emirates ID card (usually required once issued; some banks will open an account pending issuance)
• Employment contract or proof of business registration
• Salary transfer letter (from employer) or evidence of other income

Key banks for expats: Emirates NBD, HSBC UAE, RAKBank, Mashreq Bank, First Abu Dhabi Bank (FAB). HSBC is particularly popular with UK expats due to its international connectivity.

Minimum balance requirements: Vary by account tier. Many standard current accounts require AED 3,000–5,000 minimum monthly balance; priority banking from AED 100,000–350,000 depending on the bank.

Non-resident accounts: Some banks offer non-resident accounts for those without UAE residency, though these are typically more restricted and suited to investors rather than working expats.

Singapore

Singapore maintains a highly developed banking system and is generally welcoming to international clients, though requirements for account opening have become more stringent since 2020.

For residents:

• Passport and Singapore Employment Pass (EP) or S Pass
• Proof of address (utility bill, tenancy agreement, or letter from employer)
• Some banks accept the application before the EP is issued if supported by offer letter

For non-residents: DBS, OCBC, and UOB offer certain savings and investment accounts to non-residents, though the range is more limited. Some international private banks will open accounts for non-residents with suitable minimum deposits (typically SGD 200,000 or above).

Key banks: DBS, OCBC, UOB (the "big three" local banks); Citibank, HSBC, and Standard Chartered for international connectivity.

Minimum balances: Consumer accounts typically require a minimum daily average balance of SGD 500–3,000 to avoid monthly fees; private banking from SGD 200,000–350,000.

Practical tip: Some banks in Singapore now require a local phone number for verification purposes during the account-opening process — obtain a local SIM before your appointment.

Switzerland

Switzerland is one of the most famous banking jurisdictions in the world, but account-opening for non-residents at retail banks is notably restrictive. Swiss banks are rigorous about source-of-funds documentation and compliance screening.

For residents:

• Residence permit (B permit, C permit, or equivalent)
• Passport
• Proof of local address
• Employment contract or other evidence of income

Accounts for residents of Switzerland are relatively straightforward to open with the major banks (UBS — which absorbed Credit Suisse following the 2023 rescue, with the brands now fully integrated — Raiffeisen, PostFinance, and the cantonal banks such as ZKB).

For non-residents: Most retail banks will not open accounts for non-residents. Private banks (Julius Baer, Lombard Odier, Pictet, EFG, Vontobel) will accept non-resident clients with substantial assets, typically CHF 500,000 minimum and upwards. Source-of-funds documentation must be thorough.

Key consideration: Swiss banking secrecy in its traditional form no longer exists in the way it once did — Switzerland participates in the CRS and exchanges information with over 100 countries. Accounts are fully legal but not private from tax authorities.

Spain

Account-opening in Spain for non-residents is possible but requires a specific document: the Número de Identidad de Extranjero (NIE) — the Spanish tax identification number for foreigners. This must generally be obtained before an account can be opened.

For non-residents:

• Passport
• NIE (obtained from a Spanish consulate abroad or a local police station in Spain)
• Proof of address (home country or Spanish)
• Completed bank application forms

For residents (with residencia):

• Passport and NIE
• Empadronamiento (local registration certificate, obtained from the town hall)
• Proof of income or employment

Key banks: Santander, BBVA, CaixaBank, Bankinter. BBVA and Santander offer online non-resident account opening in some cases. For English-language service, some expats favour Sabadell (which has English-speaking expat services; note it sold its former UK subsidiary TSB to Santander in 2025) or use dedicated expat account solutions.

Non-resident tax: Note that holding a Spanish bank account as a non-resident creates an obligation to declare interest income on the annual non-resident income tax return (Modelo 210), even if the amounts are small.

Portugal

Portugal offers a relatively accessible banking environment and actively attracts international clients through its residency-by-investment programmes (the NHR regime and its successor the IFICI regime). A Número de Identificação Fiscal (NIF) — the Portuguese tax number — is required before opening an account.

Process:

1. Obtain a NIF (can be done via a Portuguese consulate or in person at a tax office — a fiscal representative can act on your behalf)
2. Open an account with NIF, passport, and proof of address

Key banks: Millennium BCP, Caixa Geral de Depósitos, BPI, Novo Banco, Bankinter Portugal. For international investors, Activo Bank and online banks are also popular.

Non-resident accounts: Portugal allows non-residents to open accounts without local residency, making it accessible for property buyers and investors.

Thailand

Thailand has historically been one of the more restrictive countries for expats seeking local bank accounts, though the situation has improved with digital account options.

Requirements for residents with long-term visa:

• Passport with valid long-term visa (retirement visa, LTR visa, or non-immigrant B)
• Work permit (for employment-based visa holders)
• Proof of address in Thailand (lease agreement, hotel letter, or address confirmation)
• In some cases, an introduction letter from a Thai national or employer

Non-residents: Limited options; some banks such as Bangkok Bank and Kasikorn (KBank) offer accounts, but the process is more restricted and dependent on the branch.

Key banks: Bangkok Bank, Kasikorn Bank (KBank), Siam Commercial Bank (SCB), Krungthai Bank. Bangkok Bank has a dedicated foreigner service at some branches and handles international transfers efficiently.

Practical consideration: Thailand's Long-Term Resident (LTR) visa programme, launched in 2022, streamlines many bureaucratic processes for high-net-worth individuals and has made opening accounts somewhat easier for LTR holders.

Greece

Greece has become an increasingly popular destination for expats, especially following the introduction of its 7% flat tax regime for foreign retirees and the non-dom scheme for those establishing a tax base.

Requirements:

• Passport
• AFM (Arithmos Forologikou Mitroou) — Greek tax registration number, obtained from the local tax office (Eforia)
• Proof of address (rental contract or property ownership)
• AMKA social security number (for residents)

Key banks: National Bank of Greece, Piraeus Bank, Alpha Bank, Eurobank. All have English-speaking staff in major urban branches.

EU residents: EU citizens can open accounts with the same documentation as Greeks; non-EU nationals face similar requirements to residents elsewhere.

Cyprus

Cyprus is a popular destination for HNW individuals, UK expats, and those seeking EU residency. Banking has historically been centred on Bank of Cyprus and Hellenic Bank, though the sector was significantly restructured following the 2013 financial crisis. Note that Hellenic Bank has been acquired by Eurobank (the Hellenic Bank–Eurobank Cyprus merger began in September 2025, with Hellenic Bank being renamed Eurobank Limited), consolidating the market further.

Requirements:

• Passport
• Tax Identification Code (TIC)
• Proof of address
• Source-of-funds documentation for larger deposits
• Employment contract or business documentation

Key banks: Bank of Cyprus, Hellenic Bank (now part of Eurobank), Eurobank Cyprus, and Astrobank. (RCB Bank, formerly a significant player in international business, surrendered its banking licence in December 2022 and is no longer a bank.) International private banks with Cyprus operations also serve larger clients.

Note: Post-2013, Cypriot banking has become significantly more conservative on account-opening for large cash deposits without robust source-of-funds evidence. This reflects enhanced compliance culture.

Canada

Canada's "Big Five" banks (RBC, TD, Scotiabank, BMO, CIBC) are generally open to new arrivals and account opening is often possible before arrival through an international arrivals programme.

Requirements for new arrivals:

• Passport
• Permanent Resident Card or work/study permit
• SIN (Social Insurance Number) — can be applied for on arrival
• Some banks will open accounts for new arrivals with just a passport before the SIN is issued

International accounts for non-residents: Canada is less welcoming to purely non-resident banking outside of investment accounts; most retail banking is for residents.

New Zealand

New Zealand's major banks (ANZ, Westpac, ASB, BNZ, Kiwibank) have become more flexible in allowing pre-arrival account opening for those with a visa or immigration confirmation.

Requirements:

• Passport and visa
• IRD number (Inland Revenue Department tax number — apply online)
• Proof of New Zealand address (can be a letter from an employer or relocation service at the start)

Practical tip: ANZ New Zealand's international onboarding programme is particularly accessible for arriving migrants and allows account opening before landing.

Documentation Principles That Apply Everywhere

Regardless of the country, certain principles apply universally for 2026:

1. Certified copies of identity documents: Many banks require apostille-certified copies for international clients. Plan ahead.
2. Source-of-funds explanation: For transfers above EUR/USD 10,000 equivalents, expect questions. Prepare a clear narrative with supporting documents.
3. Tax identification numbers: Most countries require you to provide your local and/or home country tax number at account opening.
4. Utility bills are becoming less accepted: Many expats do not have utility bills in their name initially. A tenancy agreement, solicitor's letter, or employer's accommodation letter is often a workable substitute.

How Global Investments Can Help

Global Investments supports internationally mobile clients in establishing appropriate banking infrastructure across multiple jurisdictions. While we do not directly open bank accounts on clients' behalf, our advisers have established relationships with banks and private banking institutions across key expat markets and can make introductions where appropriate.

We also advise on the broader financial picture — ensuring that banking arrangements align with your tax planning, investment strategy, and estate planning — so that your banking infrastructure supports rather than complicates your financial life.

This article is for general information only. Banking requirements change frequently and vary by institution. Always verify current requirements with the relevant bank and seek professional advice appropriate to your circumstances.