What documents does a Filipino national need to start a financial consultancy business in the UAE?

You will need a valid Philippines passport (minimum 6 months validity), passport-sized photos, proof of address in Philippines, attested documents via Department of Foreign Affairs (DFA), and a business plan for your financial consultancy venture.

How long does it take for a Filipino citizen to set up a financial consultancy company in RAK ICC?

The complete process — from initial application to trade licence issuance — typically takes 3–6 business days. Adding visa processing and bank account opening, the total timeline is approximately 13–23 business days.

How long does it take to get a Financial Consultancy licence in RAK ICC?

The typical processing time for a financial consultancy licence at RAK ICC is 3 business days, subject to document completeness and any regulatory approvals. As a regulated activity requiring SCA approval, additional time of 1-3 weeks may be required.

How much does it cost to set up a Financial Consultancy business in RAK International Corporate Centre?

The total setup cost for a Financial Consultancy business in RAK ICC starts from approximately AED 12,500 for the trade licence. Additional costs include visa processing (AED 0 per visa), office space, and establishment card fees. IBA provides a detailed cost breakdown during your free consultation.

Can I get a residence visa with my Financial Consultancy licence from RAK ICC?

Offshore companies in RAK ICC do not include residence visa allocation. If you require a UAE residence visa, consider a free zone or mainland licence instead.

What are the tax implications for a Financial Consultancy business in RAK International Corporate Centre?

The UAE introduced a 9% corporate tax on profits exceeding AED 375,000 (effective June 2023). Offshore entities are generally exempt from UAE corporate tax on income earned outside the UAE. There is no personal income tax in the UAE. VAT at 5% applies to most goods and services.

What documents do I need to set up a Financial Consultancy business in RAK ICC?

The standard documents required include: passport copies of all shareholders, passport-sized photographs, a completed application form, a business plan or activity description, and proof of address. As a regulated activity, you will also need to provide professional qualifications or certifications required by SCA. IBA handles all document preparation and submission on your behalf.

Financial Consultancy in RAK International Corporate Centre for Filipino nationals

OffshoreProfessionalRegulated Activity

Financial Consultancy in RAK ICC

Starting From

AED 12,500

Setup Time

3 Business Days

Visa Quota

0 Visas

Location

Ras Al Khaimah

About Financial Consultancy

As a Filipino national looking to establish a Financial Consultancy business in RAK International Corporate Centre, the UAE offers one of the most welcoming environments for international entrepreneurs. Philippines has strong bilateral trade relations with the UAE, and thousands of Filipino professionals have already successfully set up businesses across the emirates.

As an offshore entity regulated under Ras Al Khaimah's commercial laws, your Financial Consultancy business will benefit from cost-effective offshore structure and full foreign ownership. The RAK ICC licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 12,500.

With over two decades of experience in UAE business formation, IBA International provides end-to-end support for your financial consultancy setup in RAK ICC. Our dedicated advisors handle the paperwork, government liaisons, and compliance requirements, so you can focus on building your business from day one.

Why RAK ICC for Financial Consultancy?

There are several compelling reasons why RAK International Corporate Centre continues to attract financial consultancy entrepreneurs from around the world.

The jurisdiction offers cost-effective offshore structure, which is particularly valuable for financial consultancy operations. Additionally, full foreign ownership ensures that your business remains competitive in the regional market. The offshore structure provides maximum confidentiality and is ideal for holding assets, intellectual property, and international trade operations. Many international businesses choose the offshore route for its streamlined compliance requirements and ability to open multi-currency bank accounts with leading UAE banks. No tax obligation further enhances the appeal of RAK ICC for financial consultancy professionals. Furthermore, confidentiality protection positions your financial consultancy business for long-term success in the region. With Ras Al Khaimah continuing to invest in infrastructure and business-friendly regulation, RAK ICC remains an excellent choice for both start-ups and established professional enterprises looking to expand into the Middle East and North Africa region.

For Filipino nationals specifically, the Ras Al Khaimah government has fostered a business-friendly environment with streamlined processes that cater to the large Filipino business community.

Cost-effective offshore structure

Full foreign ownership

No tax obligation

Confidentiality protection

International business flexibility

Visa Requirements for Filipino Nationals

Filipino nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after incorporation. Once your financial consultancy licence is issued by RAK ICC, IBA will process your residence visa application, Emirates ID, and medical fitness tests. The entire process typically takes 8–15 business days from licence approval to visa stamping.

Banking for Filipino Business Owners

Filipino entrepreneurs can open corporate accounts with standard documentation. A solid business plan helps expedite the process. For your financial consultancy business in RAK ICC, IBA recommends opening a corporate account with a bank that has experience serving Filipino business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Philippines-specific attestations required.

Document Attestation for Filipino Nationals

Filipino nationals setting up a business in the UAE will need to attest certain documents through Department of Foreign Affairs (DFA). This typically includes your passport copy, educational certificates (if applicable for financial consultancy), and any existing business documents. The attestation must then be verified by the UAE Embassy in Abu Dhabi before submission to RAK ICC.

Requirements & Documents

1Valid Philippines passport (minimum 6 months validity)

2Documents attested by Department of Foreign Affairs (DFA)

3UAE Embassy attestation from Abu Dhabi

4Passport-sized photographs with white background

5Passport copies of all shareholders and directors (valid for at least 6 months)

6Detailed business plan or activity description

7Entry stamp or valid UAE visa copy (if applying from within the UAE)

8Proposed company name (2-3 alternatives)

Regulatory Note: Financial Consultancy is a regulated activity in the UAE. Additional approval from SCA is required. IBA can guide you through the full regulatory process.

Cost Breakdown

Item	Cost (AED)
License Fee	12,500
Estimated Total (Year 1)	From AED 12,500

* Costs are indicative and subject to change. Contact IBA for a personalised quote.

Setup Timeline

Consultation

Free consultation with IBA to discuss your financial consultancy business plan and the best RAK ICC licence options for Filipino nationals.

Document Preparation

Prepare and attest all required documents from Philippines through Department of Foreign Affairs (DFA) and the UAE Embassy.

Licence Application

Submit the financial consultancy licence application to RAK ICC. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official RAK ICC trade licence within 3–6 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Filipino nationals require a pre-arranged UAE visa.

Bank Account

Open a corporate bank account. Filipino entrepreneurs can open corporate accounts with standard documentation.

Start Operations

Your financial consultancy business is ready to operate in the UAE. IBA provides ongoing PRO, accounting, and compliance support.

Total estimated time: 3 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

Yes. RAK ICC allows 100% foreign ownership for all nationalities, including Filipino nationals. No local sponsor or partner is required.

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