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

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

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

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.

What are the tax implications for an Insurance Brokerage business in RAK Mainland?

The UAE introduced a 9% corporate tax on profits exceeding AED 375,000 (effective June 2023). Mainland companies are subject to the standard 9% corporate tax rate on taxable profits exceeding AED 375,000. There is no personal income tax in the UAE. VAT at 5% applies to most goods and services.

How much does it cost to set up an Insurance Brokerage business in RAK Mainland?

The total setup cost for an Insurance Brokerage business in RAK DED starts from approximately AED 5,500 for the trade licence. Additional costs include visa processing (AED 3,200 per visa), office space, and establishment card fees. IBA provides a detailed cost breakdown during your free consultation.

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

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.

Can I get a residence visa with my Insurance Brokerage licence from RAK DED?

Yes, your insurance brokerage licence from RAK DED entitles you to apply for residence visas. The number of visas depends on your office space size — larger offices qualify for more visas. Each visa costs approximately AED 3,200.

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

Your RAK DED 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.

Insurance Brokerage in RAK Mainland for Indian nationals

MainlandFinancialRegulated Activity

Insurance Brokerage in RAK DED

Starting From

AED 5,500

Setup Time

2 Business Days

Visa Quota

0 Visas

Location

Ras Al Khaimah

About Insurance Brokerage

As an Indian national looking to establish an Insurance Brokerage business in RAK Mainland, the UAE offers one of the most welcoming environments for international entrepreneurs. India has strong bilateral trade relations with the UAE, and thousands of Indian professionals have already successfully set up businesses across the emirates.

As a mainland entity regulated under Ras Al Khaimah's commercial laws, your Insurance Brokerage business will benefit from cost-effective setup and industrial land availability. The RAK DED licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 5,500.

With over two decades of experience in UAE business formation, IBA International provides end-to-end support for your insurance brokerage setup in RAK DED. Our dedicated advisors handle the paperwork, government liaisons, and compliance requirements, so you can focus on building your business from day one.

Why RAK DED for Insurance Brokerage?

There are several compelling reasons why RAK Mainland continues to attract insurance brokerage entrepreneurs from around the world.

The jurisdiction offers cost-effective setup, which is particularly valuable for insurance brokerage operations. Additionally, industrial land availability ensures that your business remains competitive in the regional market. Operating on the mainland allows you to trade directly with the local UAE market without restrictions, and you can bid on government contracts — a significant advantage over free zone entities. Office solutions start from AED 3,000 per year for a co-working, making it accessible for businesses of all sizes. Trade anywhere in the UAE further enhances the appeal of RAK DED for insurance brokerage professionals. Furthermore, tourism and hospitality growth 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 DED remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

Cost-effective setup

Industrial land availability

Trade anywhere in the UAE

Tourism and hospitality growth

Strategic northern location

Visa Requirements for Indian Nationals

Indian passport holders can obtain a UAE visa on arrival for 14 days. For business setup, a proper residence visa is required. Once your insurance brokerage licence is issued by RAK DED, 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 Indian Business Owners

Indian nationals typically find it straightforward to open corporate accounts with UAE banks. Many banks have dedicated Indian business desks. For your insurance brokerage business in RAK DED, IBA recommends opening a corporate account with a bank that has experience serving Indian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any India-specific attestations required.

Document Attestation for Indian Nationals

Indian nationals setting up a business in the UAE will need to attest certain documents through MEA (Ministry of External 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 DED.

Requirements & Documents

1Valid India passport (minimum 6 months validity)

2Documents attested by MEA (Ministry of External Affairs)

3UAE Embassy attestation from Abu Dhabi

4Entry stamp or valid UAE visa copy (if applying from within the UAE)

5Passport copies of all shareholders and directors (valid for at least 6 months)

6Proposed company name (2-3 alternatives)

7Detailed business plan or activity description

8Initial approval from the Department of Economic Development

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	5,500
Visa Package (per visa)	3,200
Ejari Office	5,000
Co-Working	3,000
Private Office	10,000
Estimated Total (Year 1)	From AED 13,700

* 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 DED licence options for Indian nationals.

Document Preparation

Prepare and attest all required documents from India through MEA (Ministry of External Affairs) and the UAE Embassy.

Licence Application

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

Trade Licence Issued

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

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Indian passport holders can obtain a UAE visa on arrival for 14 days.

Bank Account

Open a corporate bank account. Indian nationals typically find it straightforward to open corporate accounts with UAE banks.

Start Operations

Your insurance brokerage 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. Since the UAE's 2020 Commercial Companies Law amendment, Indian nationals can own 100% of most mainland business activities including insurance brokerage.

Insurance Brokerage in Other Jurisdictions

DIC

From AED 15,000

RAKEZ

From AED 7,500

DIFC

From AED 12,000

SHAMS

From AED 6,150

JAFZA

From AED 16,000

DMCC

From AED 15,300

IFZA

From AED 11,750

DSO

From AED 12,000