Fintech in SHAMS
Starting From
AED 6,150
Setup Time
2 Business Days
Visa Quota
3 Visas
Location
Sharjah
About Fintech
Entrepreneurs seeking to start a Fintech business in the UAE will find Sharjah Media City to be one of the most attractive jurisdictions, thanks to its strategic location and comprehensive support services.
Operating from Sharjah Media City gives your Fintech business access to Sharjah's world-class infrastructure, including modern office facilities such as flexi desk, shared office, private office 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 Sharjah Media City 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 SHAMS for Fintech?
Choosing SHAMS for your fintech business comes with a host of strategic advantages that directly impact your bottom line and growth potential.
The jurisdiction offers budget-friendly from aed 6,150, which is particularly valuable for fintech operations. Additionally, fast setup process ensures that your business remains competitive in the regional market. As a free zone entity, your business enjoys complete repatriation of profits and capital, with no currency restrictions on transactions. Office solutions start from AED 2,500 per year for a flexi desk, making it accessible for businesses of all sizes. The standard licence includes a visa quota of 3 residency visas, with options to increase this number as your team grows. 100% foreign ownership further enhances the appeal of SHAMS for fintech professionals. Furthermore, no physical office requirement positions your fintech business for long-term success in the region. With Sharjah continuing to invest in infrastructure and business-friendly regulation, SHAMS remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.
Requirements & Documents
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 | 6,150 |
| Visa Package (per visa) | 3,200 |
| Flexi Desk | 2,500 |
| Shared Office | 6,000 |
| Private Office | 15,000 |
| Estimated Total (Year 1) | From AED 11,850 |
* Costs are indicative and subject to change. Contact IBA for a personalised quote.
Setup Timeline
Initial Consultation
Begin with a free consultation with IBA's business setup advisors to discuss your fintech business objectives, optimal licence structure, and SHAMS as your chosen jurisdiction. We assess your specific requirements and provide a transparent cost breakdown.
Choose Your Company Name
Select your company name and submit it for approval. SHAMS has specific naming guidelines — the name must not conflict with existing registrations and should reflect your business activity. IBA handles the name reservation process.
Prepare & Submit Documents
Compile all required documentation including passport copies, photographs, and the completed application form. For fintech, additional documents including professional qualifications and DFSA/VARA approvals are required. IBA prepares and submits all paperwork on your behalf.
Obtain Trade Licence
Your SHAMS trade licence is issued within 2 business days of document submission. The licence authorises you to conduct fintech activities and is valid for one year. The licence fee is approximately AED 6,150.
Apply for Residence Visa
Once your licence is active, apply for your UAE residence visa and Emirates ID. Your SHAMS licence includes 3 visa allocation. Each visa costs approximately AED 3,200. IBA manages the entire visa process including medical testing and Emirates ID.
Open Corporate Bank Account
With your trade licence in hand, open a corporate bank account at a UAE bank. IBA provides introductions to relationship managers at leading banks including Emirates NBD, ADCB, RAKBank, and Mashreq. We prepare a comprehensive banking file to ensure smooth account approval.
Start Operations
With your licence issued, visa processed, and bank account active, your fintech business in Sharjah Media City is ready to operate. IBA continues to support you with PRO services, VAT registration, accounting, and annual licence renewals.
Total estimated time: 2 business days. IBA handles the entire process end-to-end so you can focus on your business.
Frequently Asked Questions
Yes, with a valid trade licence from SHAMS, you can open a corporate bank account at any UAE bank. Free zone companies can bank with most major UAE banks including Emirates NBD, ADCB, RAKBank, and Mashreq. IBA assists with introductions and documentation for smooth bank account opening.
Fintech in Other Jurisdictions
Get Started Today
Ready to set up your fintech in SHAMS? Our team is here to help.
SPEAK TO AN ADVISORWHATSAPP USQuick Facts
Official Source
www.shams.ae ↗Popular in SHAMS
By IBA Business Setup Team
Last updated: 26 February 2026
International Business Advisors DMCC has been helping entrepreneurs set up businesses in the UAE since 2004, with 20+ years of hands-on expertise.
Ready to Start Your Fintech?
Get a personalised quote for setting up your fintech in SHAMS. Our advisors are ready to guide you through every step.