I shall be moving to Doha next month and would like to know if a Residents Permit is needed to open a bank account. If it is, what do most people do with respect to salary payment etc before RP is issued.
My opinion differs from Maria – if I’ve understood what she says – I’m sure the following information is correct.
You can open a bank account in any bank and not necessarily the same bank in which your Company has an account unless the HR policies of your Company dictate otherwise. Your company will directly wire transfer your salary to that account. At the time of opening that bank account, the bank will ask you for a salary certificate from your company – stating that your salary will be transferred here – passport and RP copies. If you work on the rig (offshore) perhaps your Company might pay you cash USD/Euro/QR (again dictated by Company policy).
With savings accounts – you do not get a “Cheque” book facility. The gulf region has a lot of cash transactions.
All banks accounts insist on a minimum balance to be maintained. Min balance for current accounts are higher.
I save the money in AhliBank's deposits with my passport number although i do have a bank account in bahrain as i am a resident there but majority of the funds in qatar so far deposited in AhliBank (to buy a car here).
I do knw a friend who has a bank account even though he doesn't hv an RP - said he got it through influence - although its unlikely everybody can get one opened without an RP.
The benefit of Ahli Bank is that u are eligible for its weekly draws which entitles you to 2,000 QR wins or salary for a lifetime wins however the deposit earns 0% interest.
Most of the money saved i repatriate to india which earns me minimum 15% return.
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My opinion differs from Maria – if I’ve understood what she says – I’m sure the following information is correct.
You can open a bank account in any bank and not necessarily the same bank in which your Company has an account unless the HR policies of your Company dictate otherwise. Your company will directly wire transfer your salary to that account. At the time of opening that bank account, the bank will ask you for a salary certificate from your company – stating that your salary will be transferred here – passport and RP copies. If you work on the rig (offshore) perhaps your Company might pay you cash USD/Euro/QR (again dictated by Company policy).
With savings accounts – you do not get a “Cheque” book facility. The gulf region has a lot of cash transactions.
All banks accounts insist on a minimum balance to be maintained. Min balance for current accounts are higher.
rlasrado/maria.
thanks, loooks like a savings account it is
is credited in the bank by the company where it has 'Savings Account' for all his employees.
I save the money in AhliBank's deposits with my passport number although i do have a bank account in bahrain as i am a resident there but majority of the funds in qatar so far deposited in AhliBank (to buy a car here).
I do knw a friend who has a bank account even though he doesn't hv an RP - said he got it through influence - although its unlikely everybody can get one opened without an RP.
The benefit of Ahli Bank is that u are eligible for its weekly draws which entitles you to 2,000 QR wins or salary for a lifetime wins however the deposit earns 0% interest.
Most of the money saved i repatriate to india which earns me minimum 15% return.