What documents does an American national need to start a money exchange business in the UAE?

You will need a valid United States passport (minimum 6 months validity), passport-sized photos, proof of address in United States, attested documents via US Department of State / Secretary of State, and a business plan for your money exchange venture.

How long does it take for an American citizen to set up a money exchange company in ADGM?

The complete process — from initial application to trade licence issuance — typically takes 5–8 business days. Adding visa processing and bank account opening, the total timeline is approximately 15–25 business days.

What documents do I need to set up a Money Exchange business in ADGM?

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 Central Bank of UAE. IBA handles all document preparation and submission on your behalf.

How much does it cost to set up a Money Exchange business in Abu Dhabi Global Market?

The total setup cost for a Money Exchange business in ADGM starts from approximately AED 11,700 for the trade licence. Additional costs include visa processing (AED 5,500 per visa), office space, and establishment card fees. IBA provides a detailed cost breakdown during your free consultation.

What business activities can I include on my ADGM licence?

Your ADGM licence can include money exchange as the primary activity, along with related activities that fall under the same category. Most free zones allow multiple activities on a single licence, though some may charge a small fee for additional activities. IBA advises on the optimal activity selection for your business needs.

Can I open a corporate bank account with my ADGM Money Exchange licence?

Yes, with a valid trade licence from ADGM, 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.

Is Abu Dhabi Global Market good for money exchange start-ups?

ADGM is well-suited for both start-ups and established businesses, offering international financial centre and common law jurisdiction. Flexible office solutions starting from AED 15,000 per year help keep initial overheads manageable.

Money Exchange in Abu Dhabi Global Market for American nationals

Free ZoneFinancialRegulated Activity

Money Exchange in ADGM

Starting From

AED 11,700

Setup Time

5 Business Days

Visa Quota

4 Visas

Location

Abu Dhabi

About Money Exchange

The UAE continues to attract American entrepreneurs seeking to tap into the Middle Eastern market, and ADGM is one of the most popular jurisdictions for money exchange operations. Growing American business community (~50,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from Abu Dhabi Global Market gives your Money Exchange business access to Abu Dhabi's world-class infrastructure, including modern office facilities such as flexi desk, shared office, private office and excellent connectivity. As a regulated activity, you will need approval from Central Bank of UAE before commencing operations, but IBA's team handles this process seamlessly on your behalf.

IBA International has been helping entrepreneurs set up money exchange businesses in Abu Dhabi Global Market since 2004. Our team of incorporation specialists will guide you through every step, from initial consultation to licence issuance and bank account opening, ensuring a smooth and efficient setup experience.

Why ADGM for Money Exchange?

Choosing ADGM for your money exchange business comes with a host of strategic advantages that directly impact your bottom line and growth potential.

The jurisdiction offers international financial centre, which is particularly valuable for money exchange operations. Additionally, common law jurisdiction 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 15,000 per year for a flexi desk, making it accessible for businesses of all sizes. The standard licence includes a visa quota of 4 residency visas, with options to increase this number as your team grows. Own courts system further enhances the appeal of ADGM for money exchange professionals. Furthermore, robust regulatory framework positions your money exchange business for long-term success in the region. With Abu Dhabi continuing to invest in infrastructure and business-friendly regulation, ADGM remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

International financial centre

Common law jurisdiction

Own courts system

Robust regulatory framework

Abu Dhabi's premier business hub

Visa Requirements for American Nationals

US citizens can enter the UAE visa-free for 30 days. A residence visa is processed after company formation for long-term business operations. Once your money exchange licence is issued by ADGM, IBA will process your residence visa application, Emirates ID, and medical fitness tests. The entire process typically takes 10–17 business days from licence approval to visa stamping.

Banking for American Business Owners

US nationals face additional FATCA compliance requirements when opening UAE corporate accounts. IBA assists with the additional documentation required. For your money exchange business in ADGM, IBA recommends opening a corporate account with a bank that has experience serving American business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any United States-specific attestations required.

Document Attestation for American Nationals

American nationals setting up a business in the UAE will need to attest certain documents through US Department of State / Secretary of State. This typically includes your passport copy, educational certificates (if applicable for money exchange), and any existing business documents. The attestation must then be verified by the UAE Embassy in Abu Dhabi before submission to ADGM.

Requirements & Documents

1Valid United States passport (minimum 6 months validity)

2Documents attested by US Department of State / Secretary of State

3UAE Embassy attestation from Abu Dhabi

4Proposed company name (2-3 alternatives)

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

6Signed application form from ADGM authority

7Professional qualification certificates or approvals from Central Bank of UAE

8Relevant industry experience documentation

Regulatory Note: Money Exchange is a regulated activity in the UAE. Additional approval from Central Bank of UAE is required. IBA can guide you through the full regulatory process.

Cost Breakdown

Item	Cost (AED)
License Fee	11,700
Visa Package (per visa)	5,500
Flexi Desk	15,000
Shared Office	30,000
Private Office	70,000
Estimated Total (Year 1)	From AED 32,200

* Costs are indicative and subject to change. Contact IBA for a personalised quote.

Setup Timeline

Consultation

Free consultation with IBA to discuss your money exchange business plan and the best ADGM licence options for American nationals.

Document Preparation

Prepare and attest all required documents from United States through US Department of State / Secretary of State and the UAE Embassy.

Licence Application

Submit the money exchange licence application to ADGM. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official ADGM trade licence within 5–8 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. US citizens can enter the UAE visa-free for 30 days.

Bank Account

Open a corporate bank account. US nationals face additional FATCA compliance requirements when opening UAE corporate accounts.

Start Operations

Your money exchange business is ready to operate in the UAE. IBA provides ongoing PRO, accounting, and compliance support.

Total estimated time: 5 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

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

Money Exchange 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