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

You will need a valid Germany passport (minimum 6 months validity), passport-sized photos, proof of address in Germany, attested documents via German Federal Foreign Office / Apostille, and a business plan for your insurance brokerage venture.

How long does it take for a German citizen to set up a insurance brokerage company in RAKEZ?

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.

How much does it cost to set up an Insurance Brokerage business in Ras Al Khaimah Economic Zone?

The total setup cost for an Insurance Brokerage business in RAKEZ starts from approximately AED 7,500 for the trade licence. Additional costs include visa processing (AED 3,700 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 RAKEZ?

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 tax implications for an Insurance Brokerage business in Ras Al Khaimah Economic Zone?

The UAE introduced a 9% corporate tax on profits exceeding AED 375,000 (effective June 2023). Free zone companies like those in RAKEZ may qualify for a 0% corporate tax rate on qualifying income, provided they meet the substance requirements and do not conduct business with the mainland. There is no personal income tax in the UAE. VAT at 5% applies to most goods and services.

Can I open a corporate bank account with my RAKEZ Insurance Brokerage licence?

Yes, with a valid trade licence from RAKEZ, you can open a corporate bank account at any UAE bank. Free zone companies can bank with most major UAE banks including Emirates NBD, ADCB, RAKBank, and Mashreq. IBA assists with introductions and documentation for smooth bank account opening.

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

Yes, your insurance brokerage licence from RAKEZ entitles you to apply for residence visas. The standard package includes 3 visa(s), with the option to apply for additional visas based on your office space. Each visa costs approximately AED 3,700.

Insurance Brokerage in Ras Al Khaimah Economic Zone for German nationals

Free ZoneFinancialRegulated Activity

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

As a German national looking to establish an Insurance Brokerage business in Ras Al Khaimah Economic Zone, the UAE offers one of the most welcoming environments for international entrepreneurs. Germany has strong bilateral trade relations with the UAE, and thousands of German professionals have already successfully set up businesses across the emirates.

As a free zone entity regulated under Ras Al Khaimah's commercial laws, your Insurance Brokerage business will benefit from cost-effective licensing and industrial and commercial zones. The RAKEZ licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 7,500.

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

Why RAKEZ for Insurance Brokerage?

There are several compelling reasons why Ras Al Khaimah Economic Zone continues to attract insurance brokerage entrepreneurs from around the world.

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

Cost-effective licensing

Industrial and commercial zones

100% foreign ownership

Gateway to Northern Emirates

Manufacturing facilities

Visa Requirements for German Nationals

For German entrepreneurs, the visa process works as follows: German nationals can enter the UAE visa-free for 90 days. For business setup, a residence visa is processed after company incorporation. IBA handles the complete immigration procedure — from entry permit to residence visa stamping — so you can focus on launching your insurance brokerage business in RAKEZ.

Banking for German Business Owners

Opening a corporate bank account for your insurance brokerage company in RAKEZ: German nationals generally experience smooth corporate bank account opening. Strong German-UAE trade relations facilitate banking processes. IBA has established relationships with major UAE banks and will personally introduce you to relationship managers who understand German business structures.

Document Attestation for German Nationals

Document attestation for German nationals involves: (1) Notarisation in Germany, (2) Attestation by German Federal Foreign Office / Apostille, (3) UAE Embassy attestation in Dubai. IBA provides a complete attestation checklist specific to insurance brokerage businesses to ensure nothing is missed.

Requirements & Documents

1Valid Germany passport (minimum 6 months validity)

2Documents attested by German Federal Foreign Office / Apostille

3UAE Embassy attestation from Abu Dhabi

4Passport copies of all shareholders and directors (valid for at least 6 months)

5Proposed company name (2-3 alternatives)

6Signed application form from RAKEZ authority

7Professional qualification certificates or approvals from Insurance Authority

8Detailed business plan or activity description

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 German nationals.

Document Preparation

Prepare and attest all required documents from Germany through German Federal Foreign Office / Apostille 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. German nationals can enter the UAE visa-free for 90 days.

Bank Account

Open a corporate bank account. German 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 German nationals. No local sponsor or partner is required.

Insurance Brokerage in Other Jurisdictions

DIC

From AED 15,000

RAKEZ

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DIFC

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SHAMS

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JAFZA

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DMCC

From AED 15,300

IFZA

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DSO

From AED 12,000