What documents does a Filipino national need to start a fintech 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 fintech venture.

How long does it take for a Filipino citizen to set up a fintech company in JAFZA Offshore?

The complete process — from initial application to trade licence issuance — typically takes 5–8 business days. Adding visa processing and bank account opening, the total timeline is approximately 15–25 business days.

How much does it cost to set up a Fintech business in JAFZA Offshore?

The total setup cost for a Fintech business in JAFZA Offshore starts from approximately AED 18,000 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 open a corporate bank account with my JAFZA Offshore Fintech licence?

Yes, with a valid trade licence from JAFZA Offshore, you can open a corporate bank account at any UAE bank. Offshore companies can open corporate accounts, though the choice of banks may be more limited. IBA assists with introductions and documentation for smooth bank account opening.

What business activities can I include on my JAFZA Offshore licence?

Your JAFZA Offshore licence can include fintech as the primary activity, along with related activities that fall under the same category. Mainland licences can include multiple activities, provided they fall within the same licence category (professional, commercial, or industrial). IBA advises on the optimal activity selection for your business needs.

What documents do I need to set up a Fintech business in JAFZA Offshore?

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 DFSA/VARA. IBA handles all document preparation and submission on your behalf.

What are the tax implications for a Fintech business in JAFZA Offshore?

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.

OffshoreFinancialRegulated Activity

Fintech in JAFZA Offshore

Starting From

AED 18,000

Setup Time

5 Business Days

Visa Quota

0 Visas

Location

Dubai

About Fintech

The UAE continues to attract Filipino entrepreneurs seeking to tap into the Middle Eastern market, and JAFZA Offshore is one of the most popular jurisdictions for fintech operations. Third-largest expatriate community in the UAE (~700,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from JAFZA Offshore gives your Fintech business access to Dubai's world-class infrastructure, including modern office facilities and excellent connectivity. As a regulated activity, you will need approval from DFSA/VARA before commencing operations, but IBA's team handles this process seamlessly on your behalf.

IBA International has been helping entrepreneurs set up fintech businesses in JAFZA Offshore since 2004. Our team of incorporation specialists will guide you through every step, from initial consultation to licence issuance and bank account opening, ensuring a smooth and efficient setup experience.

Why JAFZA Offshore for Fintech?

Choosing JAFZA Offshore for your fintech business comes with a host of strategic advantages that directly impact your bottom line and growth potential.

The jurisdiction offers zero tax on all income, which is particularly valuable for fintech operations. Additionally, full capital repatriation 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. Corporate bank account access further enhances the appeal of JAFZA Offshore for fintech professionals. Furthermore, no physical office required positions your fintech business for long-term success in the region. With Dubai continuing to invest in infrastructure and business-friendly regulation, JAFZA Offshore remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

Zero tax on all income

Full capital repatriation

Corporate bank account access

No physical office required

Asset protection

Visa Requirements for Filipino Nationals

For Filipino entrepreneurs, the visa process works as follows: Filipino nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after incorporation. IBA handles the complete immigration procedure — from entry permit to residence visa stamping — so you can focus on launching your fintech business in JAFZA Offshore.

Banking for Filipino Business Owners

Opening a corporate bank account for your fintech company in JAFZA Offshore: Filipino entrepreneurs can open corporate accounts with standard documentation. A solid business plan helps expedite the process. IBA has established relationships with major UAE banks and will personally introduce you to relationship managers who understand Filipino business structures.

Document Attestation for Filipino Nationals

Document attestation for Filipino nationals involves: (1) Notarisation in Philippines, (2) Attestation by Department of Foreign Affairs (DFA), (3) UAE Embassy attestation in Dubai. IBA provides a complete attestation checklist specific to fintech businesses to ensure nothing is missed.

Requirements & Documents

1Valid Philippines passport (minimum 6 months validity)

2Documents attested by Department of Foreign Affairs (DFA)

3UAE Embassy attestation from Abu Dhabi

4Passport copies of all shareholders and directors (valid for at least 6 months)

5Professional qualification certificates or approvals from DFSA/VARA

6Notarised power of attorney (if applicable)

7Proposed company name (2-3 alternatives)

8Entry stamp or valid UAE visa copy (if applying from within the UAE)

Regulatory Note: Fintech is a regulated activity in the UAE. Additional approval from DFSA/VARA is required. IBA can guide you through the full regulatory process.

Cost Breakdown

Item	Cost (AED)
License Fee	18,000
Estimated Total (Year 1)	From AED 18,000

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

Setup Timeline

Consultation

Free consultation with IBA to discuss your fintech business plan and the best JAFZA Offshore 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 fintech licence application to JAFZA Offshore. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official JAFZA Offshore trade licence within 5–8 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 fintech business is ready to operate in the UAE. IBA provides ongoing PRO, accounting, and compliance support.

Total estimated time: 5 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

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

Fintech in Other Jurisdictions

SHAMS

From AED 6,150

RAKEZ

From AED 7,500

DIFC

From AED 12,000

Abu Dhabi DED

From AED 10,000

JAFZA

From AED 16,000

Dubai DED

From AED 12,000

DMCC

From AED 15,300

IFZA

From AED 11,750