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
Setting up an Insurance Brokerage business in RAK Mainland as an Iranian citizen is a straightforward process when you understand the specific requirements that apply to Iran-based entrepreneurs. IBA International has helped hundreds of Iranian business owners navigate the licensing, visa, and banking procedures unique to their nationality.
The licensing process at RAK DED has been streamlined significantly, with most financial licences processed within 2 business days. With the recent changes to UAE commercial law, 100% foreign ownership is now available for most mainland activities. The base licence fee is approximately AED 5,500, making it one of the most affordable options in the UAE.
At IBA International, we simplify the process of establishing your insurance brokerage business in RAK Mainland. 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 RAK DED for Insurance Brokerage?
RAK Mainland is widely regarded as one of the UAE's premier destinations for financial businesses, and for good reason.
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 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.
Visa Requirements for Iranian Nationals
Banking for Iranian Business Owners
Document Attestation for Iranian Nationals
Requirements & Documents
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 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 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. 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: 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, Iranian nationals can own 100% of most mainland business activities including insurance brokerage.
Insurance Brokerage in Other Jurisdictions
Get Started Today
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Official Source
www.rak.ae ↗Popular in RAK DED
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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