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

You will need a valid Egypt passport (minimum 6 months validity), passport-sized photos, proof of address in Egypt, attested documents via Egyptian Ministry of Foreign Affairs, and a business plan for your money exchange venture.

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

The complete process — from initial application to trade licence issuance — typically takes 10–13 business days. Adding visa processing and bank account opening, the total timeline is approximately 20–30 business days.

Can a foreigner own 100% of a Money Exchange company in Dubai Healthcare City?

Yes, DHCC 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 a Money Exchange business in DHCC?

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.

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

Yes, with a valid trade licence from DHCC, 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 Dubai Healthcare City good for money exchange start-ups?

DHCC is well-suited for both start-ups and established businesses, offering dedicated healthcare free zone and regulated clinical environment. Flexible office solutions starting from AED 50,000 per year help keep initial overheads manageable.

What are the tax implications for a Money Exchange business in Dubai Healthcare City?

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

Money Exchange in Dubai Healthcare City for Egyptian nationals

Free ZoneFinancialRegulated Activity

Money Exchange in DHCC

Starting From

AED 30,000

Setup Time

10 Business Days

Visa Quota

6 Visas

Location

Dubai

About Money Exchange

The UAE continues to attract Egyptian entrepreneurs seeking to tap into the Middle Eastern market, and DHCC is one of the most popular jurisdictions for money exchange operations. Large Arab expatriate community (~400,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from Dubai Healthcare City gives your Money Exchange business access to Dubai's world-class infrastructure, including modern office facilities such as clinic space, 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 Dubai Healthcare City 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 DHCC for Money Exchange?

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

The jurisdiction offers dedicated healthcare free zone, which is particularly valuable for money exchange operations. Additionally, regulated clinical environment 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 35,000 per year for a office, making it accessible for businesses of all sizes. The standard licence includes a visa quota of 6 residency visas, with options to increase this number as your team grows. Medical professionals network further enhances the appeal of DHCC for money exchange professionals. Furthermore, international healthcare standards positions your money exchange business for long-term success in the region. With Dubai continuing to invest in infrastructure and business-friendly regulation, DHCC remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

Dedicated healthcare free zone

Regulated clinical environment

Medical professionals network

International healthcare standards

Integrated healthcare ecosystem

Visa Requirements for Egyptian Nationals

Egyptian nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after incorporation. Once your money exchange licence is issued by DHCC, IBA will process your residence visa application, Emirates ID, and medical fitness tests. The entire process typically takes 15–22 business days from licence approval to visa stamping.

Banking for Egyptian Business Owners

Egyptian entrepreneurs can open corporate accounts with standard documentation. Long-standing UAE-Egypt relations facilitate banking processes. For your money exchange business in DHCC, IBA recommends opening a corporate account with a bank that has experience serving Egyptian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Egypt-specific attestations required.

Document Attestation for Egyptian Nationals

Egyptian nationals setting up a business in the UAE will need to attest certain documents through Egyptian Ministry of Foreign Affairs. 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 DHCC.

Requirements & Documents

1Valid Egypt passport (minimum 6 months validity)

2Documents attested by Egyptian Ministry of Foreign Affairs

3UAE Embassy attestation from Abu Dhabi

4Completed application form for trade licence

5Proposed company name (2-3 alternatives)

6Professional qualification certificates or approvals from Central Bank of UAE

7Relevant industry experience documentation

8Proof of residential address (utility bill or bank statement)

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	30,000
Visa Package (per visa)	6,000
Clinic Space	50,000
Office	35,000
Private Office	60,000
Estimated Total (Year 1)	From AED 86,000

* 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 DHCC licence options for Egyptian nationals.

Document Preparation

Prepare and attest all required documents from Egypt through Egyptian Ministry of Foreign Affairs and the UAE Embassy.

Licence Application

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

Trade Licence Issued

Receive your official DHCC trade licence within 10–13 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Egyptian nationals require a pre-arranged UAE visa.

Bank Account

Open a corporate bank account. Egyptian entrepreneurs can open corporate accounts with standard documentation.

Start Operations

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

Total estimated time: 10 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

Yes. DHCC allows 100% foreign ownership for all nationalities, including Egyptian 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