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

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

How long does it take for an Italian citizen to set up a insurance brokerage company in SHAMS?

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.

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

Yes, with a valid trade licence from SHAMS, 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 a foreigner own 100% of a Insurance Brokerage company in Sharjah Media City?

Yes, SHAMS allows 100% foreign ownership with no requirement for a local partner or sponsor. This is one of the key advantages of establishing your business in this jurisdiction.

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

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 Sharjah Media City?

The annual licence renewal for an Insurance Brokerage SHAMS company costs approximately AED 6,150, 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 are the tax implications for an Insurance Brokerage business in Sharjah Media City?

The UAE introduced a 9% corporate tax on profits exceeding AED 375,000 (effective June 2023). Free zone companies like those in SHAMS 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.

Insurance Brokerage in Sharjah Media City for Italian nationals

Free ZoneFinancialRegulated Activity

Insurance Brokerage in SHAMS

Starting From

AED 6,150

Setup Time

2 Business Days

Visa Quota

3 Visas

Location

Sharjah

About Insurance Brokerage

Setting up an Insurance Brokerage business in Sharjah Media City as an Italian citizen is a straightforward process when you understand the specific requirements that apply to Italy-based entrepreneurs. IBA International has helped hundreds of Italian business owners navigate the licensing, visa, and banking procedures unique to their nationality.

The licensing process at SHAMS has been streamlined significantly, with most financial licences processed within 2 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 6,150, 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 Sharjah Media City. 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 SHAMS for Insurance Brokerage?

Sharjah Media City is widely regarded as one of the UAE's premier destinations for financial businesses, and for good reason.

The jurisdiction offers budget-friendly from aed 6,150, which is particularly valuable for insurance brokerage operations. Additionally, fast setup process 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 2,500 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 SHAMS for insurance brokerage professionals. Furthermore, no physical office requirement positions your insurance brokerage business for long-term success in the region. With Sharjah continuing to invest in infrastructure and business-friendly regulation, SHAMS remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

For Italian nationals specifically, the Sharjah government has fostered a business-friendly environment with streamlined processes that cater to the large Italian business community.

Budget-friendly from AED 6,150

Fast setup process

100% foreign ownership

No physical office requirement

Media and creative focus

Visa Requirements for Italian Nationals

Italian nationals can enter the UAE visa-free for 90 days. For business setup, a residence visa is processed after company incorporation. Once your insurance brokerage licence is issued by SHAMS, 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 Italian Business Owners

Italian nationals generally experience smooth corporate bank account opening. EU banking standards are recognised by UAE banks. For your insurance brokerage business in SHAMS, IBA recommends opening a corporate account with a bank that has experience serving Italian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Italy-specific attestations required.

Document Attestation for Italian Nationals

Italian nationals setting up a business in the UAE will need to attest certain documents through Italian Ministry of Foreign Affairs / Prefettura. 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 SHAMS.

Requirements & Documents

1Valid Italy passport (minimum 6 months validity)

2Documents attested by Italian Ministry of Foreign Affairs / Prefettura

3UAE Embassy attestation from Abu Dhabi

4Professional qualification certificates or approvals from Insurance Authority

5Completed application form for trade licence

6Proposed company name (2-3 alternatives)

7Proof of residential address (utility bill or bank statement)

8Relevant industry experience documentation

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	6,150
Visa Package (per visa)	3,200
Flexi Desk	2,500
Shared Office	6,000
Private Office	15,000
Estimated Total (Year 1)	From AED 11,850

* 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 SHAMS licence options for Italian nationals.

Document Preparation

Prepare and attest all required documents from Italy through Italian Ministry of Foreign Affairs / Prefettura and the UAE Embassy.

Licence Application

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

Trade Licence Issued

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

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Italian nationals can enter the UAE visa-free for 90 days.

Bank Account

Open a corporate bank account. Italian 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: 2 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

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

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