|Account Opening Period
|First Abu Dhabi bank
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First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) was created through a reorganization in 2016 and is now one of the most influential banks in the world. The bank has created a diversified portfolio of banking products and services, maintaining its leading position in the investment banking and corporate banking markets.
First Abu Dhabi Bank account opens the following advantages for the owner:
- access to the bank’s international network in more than 15 countries, including Great Britain (London) and France (Paris);
- the availability of an account with this bank adds to the client’s business reputation;
- ease of settlement within the UAE and abroad;
- high level of confidentiality and reliability;
- experienced staff;
- state-of-the-art Internet banking.
Account opening procedure
There are nuances in opening an account at First Abu Dhabi Bank. Non-resident individuals can open personal accounts provided that they have a resident visa. Corporate accounts can be opened only with the confirmation of the physical office in the UAE.
Legal entities planning to open an account with First Abu Dhabi Bank provide, among other things:
- originals and duly certified constituent documents of the legal entity, as well as papers that confirm the active status of the company;
- Information on the founders, beneficiaries, and management of the company, including originals and duly certified copies of passports, as well as receipts for payment of utility bills (as proof of residence);
- information on the types of activities and the sources of income.
To open a personal account, an individual provides original and certified copies of their passport, utility bill, and income information. The application form for opening an account is also filled out in this case. Bank clerks may ask for additional information and documents.
To open an account, you must call the bank manager or conduct negotiations via messenger. In addition, bank clients must comply with compliance requirements and confirm, if necessary, the legitimacy of the origin of the funds placed in the account.
It takes 3-4 weeks to open a First Abu Dhabi Bank account. Additional information and documents may be required as part of the application process. Prifinance lawyers will be happy to help with the nuances of opening a new bank account.
How Prifinance lawyers can help
If you aim to open a First Abu Dhabi Bank account, the lawyers of Prifinance will be happy to accompany the process from start to finish, including:
- evaluate the profitability and likelihood of this option in your particular case;
- gather the necessary information and documents to open an account;
- negotiate with local authorities and bank officials;
- provide comprehensive legal support to address issues that may arise while working on the account.
Provide input for detailed advice and suggestions on the issue.