What are the actual benefits of an Emirates ID?

[OKboomer]

I am struggling to figure out what the benefits of having an Emirates ID are (assuming one does not plan to actually live in the UAE):

1) on its own useless for opening a bank account in the UAE (as they need salary proof + rental agreement), both of which costs money to arrange
2) does not help proving tax residency in the UAE, if asked elsewhere
3) gives visa-free access to neighboring GCC states that are anyway visa-free for most nationalities

So, am i missing something? Or are there no actual benefits of having an Emirates ID unless you really just want to spend a lot of time in the UAE? Any global entrepreneurs / optimizers can share some perks?

 

[Nomado]

What are the benefits of having an id card ?

It's just telling the world‌ you're officially resident of the uae. Not much more.

 

[OKboomer]

Well, many IDs people get on this forum have some extra perks or Plan B theoretical‍ nice-to-haves

 

[daniels27]

It is very useful in many cases. Let's say you book Dubai - Auckland -‌ Dubai. That lad in Auckland may not want to board you unless you have a‍ onward ticket or an Emirates ID. Or you need a visa for Absurdistan and are⁠ in Dubai.. They may even refuse you the visa unless you have an onward ticket⁤ or an Emirates ID.

See, it is very good to have it.

 

[Nicholas Van Orton]

Just chiming in to point out that number 1)︂ is incorrect. With an Emirates ID and no salary you may anyway get your personal︃ bank account opened. Been there, done that.
Number 2), since the UAE does not issue︄ a TIN, it can be argued that you may just leave that space blank or︅ just say "the country does not issue a TIN".
Number 3) visa-free access? That's passport︆ related and not residency related (you travel with your passport, not with a residency card)︇ - so not relevant...

With your Emirates ID and proof of residence you will open︈ brokerage accounts without moving from the UAE (IBKR, Swissquote, Saxo Bank et al have offices︉ there, let alone solid private banks like Mirabaud), and you'll be treated as a resident,︊ so not sure what your point here is or what are your intentions when obtaining︋ the ID, but there are many practical uses, if you dig a little.

NVO

 

[OKboomer]

1) I could not get a single retail bank to open me an account with︅ no salary. I am amazed that in a country full of crooks and wanted criminals︆ as residents, a non-salary profile raises questions... Private banks are busting my balls regarding crypto︇ SoF and their managers seem shady in their suggestions
I also was told i need︈ a proper contract and water bills, so i need to invest money into renting some︉ apartment, which even in the worst places will probably set me back hundreds of bucks︊ per month + headaches with owning your place that inevitably come. I don't imagine also︋ i will get a good acc if i live in Deira on paper.
2) lack︌ of TIN is becoming harder and harder to justify to banks
3) actually not true.︍ For many nationalities emirates id does serve as an extension of passport in terms of︎ visa-free travelling. Some other countries' permits do as well

 

[Nicholas Van Orton]

1) I don't know what else to say. I talked first-hand experience and completely opposite to︄ your case, or I wouldn't even have posted it. Maybe things have changed that much.︅
Regarding renting etc, when I first got there I rented a place that was also︆ offered to me for a quick sale at 200K...place is now valued at 560K, I︇ mean like, insane, but I digress. You may find yearly rents in decent areas for︈ around 20-24K (approx $6K or $500 a month). Utility bills (DEWA basically) will vary based︉ on consumption, though there's a minimum applicable fee of a few AED, that is all︊ he proof you need. Depending on your risk appetite and real interest in the country,︋ you may find some opportunities in Labor-oriented areas (Al Khor, Deira, International CIty, IMPZ, etc)︌ for around $70-90K which would be enough. Depending on how rich you are, going for︍ the Golden 2-year visa on AED700K property purchase (you will find bargains in Dubai Marina︎ or JVT that are worth the hassle), would kill many birds with one stone. Give️ it a throught. (PS: On property sales, source of funds push is not that much‌ enforced yet, though things are changing rapidly).
2) As simple as "country does not issue‍ TIN" and proof of residence in the UAE still works. Again, not talking out loud,⁠ just first-hand experience.
3) Not a single country I know (western) would accept what you⁤ say, but again,what do I know...just not interested in exploring it, anyway.

 

[OKboomer]

Thank you for the detailed reply.‌ I will check out those options

 

[TRGali]

If you don't have a salary to receive on the account, you can offer the‌ bank the be part of their premium clients. It usually comes with the requirement to‍ hold a min. balance on the account. Like around 100k USD.

 

[cuno]

which one you mean ? I don't see‍ these perks anywhere ?

 

[daniels27]

Like there is COVID and you can only enter when you have an‌ ID. Like you can open bank accounts on an XY passport without the banks reporting‍ to your citizenship country where you actually spend time. Like you can open a driving⁠ licence that you can then use when driving in country X.