In today's dynamic global economy, setting up a business requires more than just a great idea and dedication. It demands a strong financial foundation to support growth and operational efficiency. For entrepreneurs and businesses eyeing opportunities in the UAE, opening an FAB (First Abu Dhabi Bank) Business Bank Account proves to be a strategic move.
First, Abu Dhabi Bank (FAB) is renowned globally as a premier provider of banking solutions. They offer a diverse array of customizable financial products and services, such as bank accounts, loans, credit cards, mortgages, and investment opportunities tailored for both individual and corporate clients.
FAB presents a comprehensive selection of business accounts distinguished by exclusive benefits and features. These accounts offer the convenience of online and mobile banking, enabling access from anywhere.
This guide explores the essential benefits of establishing an FAB business account, catering specifically to the vibrant business landscape of the United Arab Emirates.
First Abu Dhabi Bank (FAB) stands as a leading financial institution in the UAE, known for its comprehensive suite of banking services designed to both individual and corporate needs. For businesses, FAB offers a range of business banking solutions, including specialized accounts designed to streamline financial transactions and optimize liquidity management.
FAB stands out as a premier choice for your business banking needs in the UAE, offering a range of benefits tailored to meet the demands of modern businesses.
Here’s why:
FAB provides a suite of comprehensive business banking solutions designed to streamline your financial operations. Whether you are a small startup or a large enterprise, FAB bank account offers tailored services to suit your business requirements.
With a strong reputation built over decades of service, FAB is a trusted banking partner for businesses across the UAE. They offer stability, reliability, and a commitment to helping your business grow.
Opening a bank account in the UAE is straightforward and hassle-free. FAB bank account’s online and mobile banking platforms ensure that you have convenient access to your accounts 24/7, allowing you to manage your finances efficiently from anywhere in the world.
FAB's team of dedicated business banking specialists possesses deep expertise in the local market and understands the unique challenges faced by businesses operating in the UAE. They provide personalized advice and solutions to help you navigate the financial landscape effectively.
Whether you need working capital, trade finance, or investment solutions, FAB bank account offers a range of products and services to support your business growth ambitions. Their flexible financing options and strategic insights can help propel your business forward.
FAB continuously invests in technological innovation to enhance its banking services. From digital payment solutions to advanced security features, they prioritize providing you with cutting-edge tools to manage your business finances securely.
Choosing FAB for your business account means choosing a reliable partner dedicated to supporting your business's financial success in the dynamic landscape of the UAE.
First, Abu Dhabi Bank (FAB) offers a range of business accounts to meet diverse financial needs in the UAE and beyond. These accounts cater to different business requirements, each with unique features and benefits:
Available in multiple currencies (AED, GBP, USD, EUR, JPY).
Online banking for easy account management.
Minimum monthly balance requirement of AED 50,000.
Free inward remittances (local and international).
Reduced banking rates.
Available in multiple currencies.
Online banking facilities.
Minimum monthly balance requirement of AED 250,000.
Free inward remittances.
Reduced banking rates.
Unlimited free chequebooks.
Minimum monthly balance requirement of AED 500,000.
Online banking services.
Free inward remittances.
Free teller transactions.
Available in multiple currencies.
Reduced banking rates.
Unlimited free chequebooks.
The minimum balance requirement is AED 10,000.
Competitive fee structure.
Attractive interest rates.
Multi-currency options are available for non-residents.
Flexible deposit terms (1 week to 10 years).
Available in multiple currencies.
The minimum balance requirement is AED 50,000 or equivalent.
Premature withdrawals are allowed.
Competitive interest rates are based on deposit duration and currency.
These FAB business accounts provide comprehensive banking solutions with features like online banking, multi-currency options, reduced banking rates, and specific benefits tailored to different business sizes and needs.
Here are the requirements to open a business account with FAB in the UAE:
The business must possess a valid trade license.
At least one representative must be a resident of the UAE.
Account holders are required to maintain a minimum average balance to ensure the account remains active.
Here is a short list of the paperwork required to open an FAB Business Bank Account. It is crucial to note that the length of this list varies based on the scope of each client's business and the bank's criteria for the kind of corporate account you wish to create.
Basic Documents
Memorandum of Association (MoA)
Passport, Visa & Emirates ID of all partners (if applicable)
Office tenancy or Ejari contract (physical office)
Share certificate
Parent company’s legal documents
Supporting Documents
6 months bank statement (personal/company from UAE/home country)
Utility bills as address proof (for certain nationalities)
VAT certificate (if applicable)
Business model/company profile/website/plan
Applicant profile (CV) of signatory
Name of existing or prospective clients (suppliers/buyers)
Debit & credit invoices
Invoices/bill of shipment/shipping documents/agreements/custom clearance, etc.
Note: All basic documents are mandatory. Supporting documents are as per business profile
Opening a First Abu Dhabi Bank (FAB) business bank account in the UAE offers several significant benefits for entrepreneurs and businesses:
Easy process to open and manage accounts.
Comprehensive banking solutions, including corporate banking and trade finance.
Digital platforms for seamless transactions and cash management.
Access to financing options and credit facilities.
Strong measures for secure transactions.
International banking capabilities and correspondent relationships.
Dedicated relationship managers for tailored assistance.
Opening an FAB Business Bank Account in the UAE represents more than just a financial transaction—it's a strategic investment in the future of your business. With FAB's commitment to innovation, and customer-centric approach, entrepreneurs and businesses gain a competitive edge in navigating the complexities of the UAE's business landscape.
DhanGuard is your trusted partner when it comes to opening an FAB bank account in the UAE.
We understand the complexities of the process and are dedicated to simplifying it for you. Whether you're establishing a new business or expanding your operations, our expert advisors will guide you through every step, ensuring a seamless experience. With DhanGuard, you can count on efficient handling of paperwork, compliance with regulations, and personalized assistance tailored to your specific needs.
Let us remove the complexities of opening your FAB business account so you can focus on what matters most – growing your business.
An Open FAB Business Bank Account is a specialized account designed for small and medium-sized enterprises (SMEs) offered by Open, a digital banking platform. It provides essential banking services tailored to business needs.
You can apply online through Open's website or mobile app by providing necessary documents or you can connect with experts at Dhanguard.
Generally, you will need your business registration certificate, identification proofs of directors/partners/owners, proof of business address, and possibly other relevant documents depending on your business structure.
Yes, the Open FAB Business Bank Account is fully digital and can be managed conveniently through Open's online banking platform or mobile app, giving you access to account transactions, payments, and statements.
Yes, an Open FAB Business Bank Account supports multi-currency transactions, which is beneficial for businesses involved in international trade or dealing with foreign currencies.
Yes, you receive unlimited free chequebooks with the FAB Business Preferred Account.
