What documents does an Australian national need to start a fintech business in the UAE?

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

How long does it take for an Australian citizen to set up a fintech company in SHAMS?

The complete process — from initial application to trade licence issuance — typically takes 2–5 business days. Adding visa processing and bank account opening, the total timeline is approximately 12–22 business days.

Can a foreigner own 100% of a Fintech company in Sharjah Media City?

Yes, SHAMS allows 100% foreign ownership with no requirement for a local partner or sponsor. This is one of the key advantages of establishing your business in this jurisdiction.

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

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 business activities can I include on my SHAMS licence?

Your SHAMS licence can include fintech as the primary activity, along with related activities that fall under the same category. Most free zones allow multiple activities on a single licence, though some may charge a small fee for additional activities. IBA advises on the optimal activity selection for your business needs.

Can I open a corporate bank account with my SHAMS Fintech licence?

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.

What are the annual renewal costs for a Fintech business in Sharjah Media City?

The annual licence renewal for a Fintech SHAMS company costs approximately AED 6,150, which covers the trade licence fee. Additional annual costs may include office space rental, visa renewal, and establishment card fees. IBA provides renewal services to ensure uninterrupted business operations.

Fintech in Sharjah Media City for Australian nationals

Free ZoneFinancialRegulated Activity

Fintech in SHAMS

Starting From

AED 6,150

Setup Time

2 Business Days

Visa Quota

3 Visas

Location

Sharjah

About Fintech

The UAE continues to attract Australian entrepreneurs seeking to tap into the Middle Eastern market, and SHAMS is one of the most popular jurisdictions for fintech operations. Growing Australian business community (~25,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

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.

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

Budget-friendly from AED 6,150

Fast setup process

100% foreign ownership

No physical office requirement

Media and creative focus

Visa Requirements for Australian Nationals

Australian nationals can enter the UAE visa-free for 30 days. For business setup, a residence visa is processed after company incorporation. Once your fintech licence is issued by SHAMS, IBA will process your residence visa application, Emirates ID, and medical fitness tests. The entire process typically takes 7–14 business days from licence approval to visa stamping.

Banking for Australian Business Owners

Australian nationals generally experience smooth corporate bank account opening. Commonwealth banking standards are recognised by UAE banks. For your fintech business in SHAMS, IBA recommends opening a corporate account with a bank that has experience serving Australian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Australia-specific attestations required.

Document Attestation for Australian Nationals

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

Requirements & Documents

1Valid Australia passport (minimum 6 months validity)

2Documents attested by Australian Department of Foreign Affairs and Trade

3UAE Embassy attestation from Abu Dhabi

4Completed application form for trade licence

5Proposed company name (2-3 alternatives)

6Signed application form from SHAMS authority

7Professional qualification certificates or approvals from DFSA/VARA

8Proof of residential address (utility bill or bank statement)

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

Consultation

Free consultation with IBA to discuss your fintech business plan and the best SHAMS licence options for Australian nationals.

Document Preparation

Prepare and attest all required documents from Australia through Australian Department of Foreign Affairs and Trade and the UAE Embassy.

Licence Application

Submit the fintech licence application to SHAMS. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official SHAMS trade licence within 2–5 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Australian nationals can enter the UAE visa-free for 30 days.

Bank Account

Open a corporate bank account. Australian nationals generally experience smooth corporate bank account opening.

Start Operations

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

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. SHAMS allows 100% foreign ownership for all nationalities, including Australian 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

Fintech in SHAMS — Other Nationalities

View General Guide (All Nationalities)

Indian Pakistani Filipino British American Chinese Egyptian Italian Bangladeshi Lebanese Iranian Russian

Get Started Today

Ready to set up your fintech in SHAMS? Our team is here to help.

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Quick Facts

JurisdictionSHAMS

TypeFree Zone

EmirateSharjah

License FeeAED 6,150

Setup Time2 days

Visa Quota3

Activity Code64110

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.

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