What documents does an Iranian national need to start a insurance brokerage business in the UAE?

You will need a valid Iran passport (minimum 6 months validity), passport-sized photos, proof of address in Iran, attested documents via Iranian Ministry of Foreign Affairs, and a business plan for your insurance brokerage venture.

How long does it take for an Iranian citizen to set up a insurance brokerage company in RAK ICC?

The complete process — from initial application to trade licence issuance — typically takes 3–6 business days. Adding visa processing and bank account opening, the total timeline is approximately 13–23 business days.

Do I need to be physically present in the UAE to set up a Insurance Brokerage company in RAK ICC?

Most of the setup process for a insurance brokerage business in RAK ICC can be completed remotely, with documents submitted online or via courier. Offshore company registration can typically be completed entirely remotely without any UAE visit.

What documents do I need to set up an Insurance Brokerage business in RAK ICC?

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 Insurance Authority. IBA handles all document preparation and submission on your behalf.

What are the annual renewal costs for an Insurance Brokerage business in RAK International Corporate Centre?

The annual licence renewal for an Insurance Brokerage RAK ICC company costs approximately AED 12,500, 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.

What business activities can I include on my RAK ICC licence?

Your RAK ICC licence can include insurance brokerage 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.

How long does it take to get a Insurance Brokerage licence in RAK ICC?

The typical processing time for a insurance brokerage licence at RAK ICC is 3 business days, subject to document completeness and any regulatory approvals. As a regulated activity requiring Insurance Authority approval, additional time of 1-3 weeks may be required.

Insurance Brokerage in RAK International Corporate Centre for Iranian nationals

OffshoreFinancialRegulated Activity

Insurance Brokerage in RAK ICC

Starting From

AED 12,500

Setup Time

3 Business Days

Visa Quota

0 Visas

Location

Ras Al Khaimah

About Insurance Brokerage

The UAE continues to attract Iranian entrepreneurs seeking to tap into the Middle Eastern market, and RAK ICC is one of the most popular jurisdictions for insurance brokerage operations. Historic trading community (~100,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from RAK International Corporate Centre gives your Insurance Brokerage business access to Ras Al Khaimah's world-class infrastructure, including modern office facilities and excellent connectivity. As a regulated activity, you will need approval from Insurance Authority before commencing operations, but IBA's team handles this process seamlessly on your behalf.

IBA International has been helping entrepreneurs set up insurance brokerage businesses in RAK International Corporate Centre 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 RAK ICC for Insurance Brokerage?

Choosing RAK ICC for your insurance brokerage business comes with a host of strategic advantages that directly impact your bottom line and growth potential.

The jurisdiction offers cost-effective offshore structure, which is particularly valuable for insurance brokerage operations. Additionally, full foreign ownership 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. No tax obligation further enhances the appeal of RAK ICC for insurance brokerage professionals. Furthermore, confidentiality protection positions your insurance brokerage business for long-term success in the region. With Ras Al Khaimah continuing to invest in infrastructure and business-friendly regulation, RAK ICC remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

For Iranian nationals specifically, the Ras Al Khaimah government has fostered a business-friendly environment with streamlined processes that cater to the large Iranian business community.

Cost-effective offshore structure

Full foreign ownership

No tax obligation

Confidentiality protection

International business flexibility

Visa Requirements for Iranian Nationals

Iranian nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after incorporation. Once your insurance brokerage licence is issued by RAK ICC, IBA will process your residence visa application, Emirates ID, and medical fitness tests. The entire process typically takes 8–15 business days from licence approval to visa stamping.

Banking for Iranian Business Owners

Iranian entrepreneurs may face additional due diligence requirements. IBA assists with navigating compliance procedures for successful account opening. For your insurance brokerage business in RAK ICC, IBA recommends opening a corporate account with a bank that has experience serving Iranian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Iran-specific attestations required.

Document Attestation for Iranian Nationals

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

Requirements & Documents

1Valid Iran passport (minimum 6 months validity)

2Documents attested by Iranian Ministry of Foreign Affairs

3UAE Embassy attestation from Abu Dhabi

4Bank reference letter from your current bank

5Proposed company name (2-3 alternatives)

6Proof of residential address (utility bill or bank statement)

7Notarised power of attorney (if applicable)

8Passport-sized photographs with white background

Regulatory Note: Insurance Brokerage is a regulated activity in the UAE. Additional approval from Insurance Authority is required. IBA can guide you through the full regulatory process.

Cost Breakdown

Item	Cost (AED)
License Fee	12,500
Estimated Total (Year 1)	From AED 12,500

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

Setup Timeline

Consultation

Free consultation with IBA to discuss your insurance brokerage business plan and the best RAK ICC licence options for Iranian nationals.

Document Preparation

Prepare and attest all required documents from Iran through Iranian Ministry of Foreign Affairs and the UAE Embassy.

Licence Application

Submit the insurance brokerage licence application to RAK ICC. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official RAK ICC trade licence within 3–6 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Iranian nationals require a pre-arranged UAE visa.

Bank Account

Open a corporate bank account. Iranian entrepreneurs may face additional due diligence requirements.

Start Operations

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

Total estimated time: 3 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

Yes. RAK ICC allows 100% foreign ownership for all nationalities, including Iranian nationals. No local sponsor or partner is required.

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