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 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.

How long does it take to get a Fintech licence in SHAMS?

The typical processing time for a fintech licence at SHAMS is 2 business days, subject to document completeness and any regulatory approvals. As a regulated activity requiring DFSA/VARA approval, additional time of 1-3 weeks may be required.

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 tax implications for a Fintech business in Sharjah Media City?

The UAE introduced a 9% corporate tax on profits exceeding AED 375,000 (effective June 2023). Free zone companies like those in SHAMS may qualify for a 0% corporate tax rate on qualifying income, provided they meet the substance requirements and do not conduct business with the mainland. There is no personal income tax in the UAE. VAT at 5% applies to most goods and services.

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.

Do I need to be physically present in the UAE to set up a Fintech company in SHAMS?

Most of the setup process for a fintech business in SHAMS can be completed remotely, with documents submitted online or via courier. However, you may need to visit the UAE for Emirates ID biometrics and bank account opening. IBA can coordinate to minimise your required visits.

Fintech in Sharjah Media City for Filipino 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

Setting up a Fintech business in Sharjah Media City as a Filipino citizen is a straightforward process when you understand the specific requirements that apply to Philippines-based entrepreneurs. IBA International has helped hundreds of Filipino business owners navigate the licensing, visa, and banking procedures unique to their nationality.

The licensing process at SHAMS has been streamlined significantly, with most financial licences processed within 2 business days. As a free zone entity, you will enjoy 100% foreign ownership with no requirement for a local sponsor. The base licence fee is approximately AED 6,150, making it one of the most affordable options in the UAE.

At IBA International, we simplify the process of establishing your fintech business in Sharjah Media City. From selecting the right licence type to securing your visa and opening a corporate bank account, our experienced team ensures every detail is handled professionally and efficiently.

Why SHAMS for Fintech?

Sharjah Media City is widely regarded as one of the UAE's premier destinations for financial businesses, and for good reason.

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 Filipino nationals specifically, the Sharjah government has fostered a business-friendly environment with streamlined processes that cater to the large Filipino 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 Filipino Nationals

Filipino nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after 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 Filipino Business Owners

Filipino entrepreneurs can open corporate accounts with standard documentation. A solid business plan helps expedite the process. For your fintech business in SHAMS, 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 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 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

5Professional qualification certificates or approvals from DFSA/VARA

6Signed application form from SHAMS authority

7Proof of residential address (utility bill or bank statement)

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	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 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 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. 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: 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 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

Fintech in SHAMS — Other Nationalities

View General Guide (All Nationalities)

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

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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