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An Authority Letter For Opening Bank Account is a fundamental document in the United Arab Emirates' banking system, used when an individual or organization needs to delegate the authority to open and manage bank accounts. This document is particularly crucial in the UAE's business environment, where corporate structures often require designated representatives to handle banking matters. The letter must comply with UAE Federal Law No. 14 of 2018 and related banking regulations, requiring specific details about the authorizer, the authorized person, the scope of authority, and the intended banking relationship. It's commonly used during company formations, for overseas investors, or when principal stakeholders cannot be physically present for banking procedures. The document typically requires notarization and may need additional authentication depending on the bank's requirements and the specific circumstances.

1. Date and Place: Current date and place of execution of the letter

2. Bank Details: Full name and address of the bank to which the authority letter is addressed

3. Authorizer Information: Complete details of the person/entity granting the authority, including full name, address, and identification details

4. Authorized Person Information: Complete details of the person being authorized, including full name, address, and identification details

5. Purpose Declaration: Clear statement of the purpose - authority to open and operate bank account

6. Scope of Authority: Specific powers being granted regarding the bank account opening and operation

7. Duration of Authority: Period for which the authority is valid

8. Signature Block: Space for authorizer's signature, witness signatures, and notary attestation