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 Russian entrepreneurs seeking to tap into the Middle Eastern market, and SHAMS is one of the most popular jurisdictions for fintech operations. Growing community (~40,000), 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 Russian nationals specifically, the Sharjah government has fostered a business-friendly environment with streamlined processes that cater to the large Russian business community.
Visa Requirements for Russian Nationals
Banking for Russian Business Owners
Document Attestation for Russian Nationals
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
Consultation
Free consultation with IBA to discuss your fintech business plan and the best SHAMS licence options for Russian nationals.
Document Preparation
Prepare and attest all required documents from Russia through Russian Ministry of Foreign Affairs / Apostille 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. Russian nationals can obtain a UAE visa on arrival for 90 days.
Bank Account
Open a corporate bank account. Russian entrepreneurs may face additional compliance requirements due to international regulations.
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 Russian nationals. No local sponsor or partner is required.
Fintech in Other Jurisdictions
Get Started Today
Ready to set up your fintech in SHAMS? Our team is here to help.
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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.
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