Banks · corporate account
First Abu Dhabi Bank business banking for a new free zone company.
What the bank publishes about products, eligibility and the process, and where the research found no answer.
Typical opening time: 10-15 working days (agent estimate) to 3-5 weeks (agent estimate)
Free zones accepted or refused
Accepts free zone companies (mainland, free zone, offshore). ADGM registered entities get preferential services.
Digital experience
FAB Business mobile app with advanced digital banking features; digitised account opening available for some SMEs via BASHER portal (may not apply to free zone companies).
Products for a new company
| Product | Minimum balance | Monthly fee | Source |
|---|---|---|---|
| Business Basic Account | 10,000 | 250 | source |
| Business Call Account | 10,000 | 0 (fall below fee 250 if balance <10,000) | source |
| Merchant Account | 10,000 | 0 (fall below fee 250 if balance <10,000) | source |
| Business Advantage Account | 250,000 | 0 (fall below fee 350 if balance <250,000) | source |
| Business Preferred Account | 500,000 | 0 (fall below fee 500 if balance <500,000) | source |
Eligibility
- Valid UAE trade licence and company registration source
- Business activity acceptable to FAB source
- Company ownership and shareholders subject to compliance review source
- Authorized signatories identified source
- Physical business address (free zone office lease or Ejari) source
- Expected account activity and source of funds disclosed source
- For non-resident companies, additional due-diligence documentation may be required source
Documents
- Valid UAE trade licence, plus free zone or DED registration certificate source
- Memorandum and Articles of Association, or free zone company constitution source
- Share certificate or shareholder register source
- Passport copies of all shareholders, directors and authorised signatories source
- UAE residence visa and Emirates ID for UAE-resident shareholders and signatories source
- Board resolution or power of attorney naming the authorised signatories source
- Proof of business address (Ejari or free zone office lease) source
- Company profile, with expected monthly turnover, main clients, suppliers and countries traded with source
- Proof of source of funds and, where available, sample invoices or contracts source
The process
- step 1Check eligibility and prepare required documentscan be done remotely
- step 2Submit application (online or through a banking officer)remote or not, not stated
- step 3Compliance review; bank may request additional documentscan be done remotely
- step 4Account activation (may require physical presence for verification)in person
Nationalities or activities restricted
- No explicit nationality restrictions found; subject to UAE banking regulations and compliance review
- No explicit activity restrictions found; subject to FAB's acceptable business activities
Pain points founders report
- Contradictory information on remote account opening for free zone companies (agent says personal visit not required but also says remote not possible)
- High minimum balance requirements for premium accounts (amount not yet confirmed+)
- Fall below fees if balance drops below minimum
- Trade license expiry fee of amount not yet confirmed
- Account closure fee if closed within 6 months (amount not yet confirmed-500)
- Variable and potentially long account opening timelines (3-5 weeks)
What the research does not settle
- Official account opening timeline not published
- No official confirmation of remote account opening possibility for free zone companies
- No specific list of accepted free zones beyond ADGM
- No details on partner program for formation providers
- No explicit list of restricted nationalities or activities
Sources
Business Bank Accounts | First Abu Dhabi Bank - UAEhttps://www.bankfab.com/en-ae/business-banking/accountsread 2026-10-20
Fees and Charges for Commercial Banking | FAB - UAEhttps://www.bankfab.com/en-ae/business-banking/fees-and-chargesread 2026-10-20