The following are instructions for connecting a Bluetooth device for serial communication on Arch Linux using BlueZ 5.31.
The following packages are required:
bluez:bluetoothdbluez-utils:bluetoothctl,rfcomm
- 
Start daemon:
systemctl start bluetooth - 
Pair using
bluetoothctl:power on agent on scan on ... wait ... scan off pair <dev> - 
Create serial device:
rfcomm bind 0 <dev> 
You should now have /dev/rfcomm0.
- 
Remove serial device:
rfcomm release 0 - 
Unpair using
bluetoothctl:remove <dev> power off - 
Stop daemon:
systemctl stop bluetooth 
Check rfkill list to make sure that the Bluetooth device is not blocked.
Awesome guide! It helped me out just perfect.
If I may add a few things for people reading it:
Tested with debian kernel 4.10 on a Cubieboard2 using CSR8510 dongle from adafruit (product ID 1327).