Insurance Brokerage in RAKEZ
Starting From
AED 7,500
Setup Time
3 Business Days
Visa Quota
3 Visas
Location
Ras Al Khaimah
About Insurance Brokerage
Setting up an Insurance Brokerage business in Ras Al Khaimah Economic Zone as a British citizen is a straightforward process when you understand the specific requirements that apply to United Kingdom-based entrepreneurs. IBA International has helped hundreds of British business owners navigate the licensing, visa, and banking procedures unique to their nationality.
The licensing process at RAKEZ has been streamlined significantly, with most financial licences processed within 3 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 7,500, 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 Ras Al Khaimah Economic Zone. 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 RAKEZ for Insurance Brokerage?
Ras Al Khaimah Economic Zone is widely regarded as one of the UAE's premier destinations for financial businesses, and for good reason.
The jurisdiction offers cost-effective licensing, which is particularly valuable for insurance brokerage operations. Additionally, industrial and commercial zones 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 3,000 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 RAKEZ for insurance brokerage professionals. Furthermore, gateway to northern emirates 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, RAKEZ remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.
For British nationals specifically, the Ras Al Khaimah government has fostered a business-friendly environment with streamlined processes that cater to the large British business community.
Visa Requirements for British Nationals
Banking for British Business Owners
Document Attestation for British 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 | 7,500 |
| Visa Package (per visa) | 3,700 |
| Flexi Desk | 3,000 |
| Shared Office | 7,000 |
| Private Office | 15,000 |
| Estimated Total (Year 1) | From AED 14,200 |
* 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 RAKEZ licence options for British nationals.
Document Preparation
Prepare and attest all required documents from United Kingdom through Foreign, Commonwealth & Development Office (FCDO) and the UAE Embassy.
Licence Application
Submit the insurance brokerage licence application to RAKEZ. IBA handles all paperwork and government interactions.
Trade Licence Issued
Receive your official RAKEZ trade licence within 3–6 business days.
Visa Processing
Process your UAE residence visa, Emirates ID, and medical fitness. British nationals can enter the UAE visa-free for 30 days.
Bank Account
Open a corporate bank account. British nationals generally experience smooth corporate bank account opening.
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. RAKEZ allows 100% foreign ownership for all nationalities, including British nationals. No local sponsor or partner is required.
Insurance Brokerage in Other Jurisdictions
Get Started Today
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Official Source
www.rakez.com ↗Popular in RAKEZ
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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