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

You will need a valid United Kingdom passport (minimum 6 months validity), passport-sized photos, proof of address in United Kingdom, attested documents via Foreign, Commonwealth & Development Office (FCDO), and a business plan for your money exchange venture.

How long does it take for a British citizen to set up a money exchange company in DIFC?

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.

How long does it take to get a Money Exchange licence in DIFC?

The typical processing time for a money exchange licence at DIFC is 5 business days, subject to document completeness and any regulatory approvals. As a regulated activity requiring Central Bank of UAE approval, additional time of 1-3 weeks may be required.

Can a foreigner own 100% of a Money Exchange company in Dubai International Financial Centre?

Yes, DIFC 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.

Is Dubai International Financial Centre good for money exchange start-ups?

DIFC is well-suited for both start-ups and established businesses, offering independent legal framework (common law) and own courts and arbitration centre. Flexible office solutions starting from AED 18,000 per year help keep initial overheads manageable.

What are the tax implications for a Money Exchange business in Dubai International Financial Centre?

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

Do I need to be physically present in the UAE to set up a Money Exchange company in DIFC?

Most of the setup process for a money exchange business in DIFC can be completed remotely, with documents submitted online or via courier. However, you may need to visit the UAE for Emirates ID biometrics and bank account opening. IBA can coordinate to minimise your required visits.

Money Exchange in Dubai International Financial Centre for British nationals

Free ZoneFinancialRegulated Activity

Money Exchange in DIFC

Starting From

AED 12,000

Setup Time

5 Business Days

Visa Quota

6 Visas

Location

Dubai

About Money Exchange

Setting up a Money Exchange business in Dubai International Financial Centre 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 DIFC has been streamlined significantly, with most financial licences processed within 5 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 12,000, making it competitively priced for the services included.

At IBA International, we simplify the process of establishing your money exchange business in Dubai International Financial Centre. 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 DIFC for Money Exchange?

Dubai International Financial Centre is widely regarded as one of the UAE's premier destinations for financial businesses, and for good reason.

The jurisdiction offers independent legal framework (common law), which is particularly valuable for money exchange operations. Additionally, own courts and arbitration centre 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 18,000 per year for a flexi desk, 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. Premier financial hub further enhances the appeal of DIFC for money exchange professionals. Furthermore, zero tax for 50 years positions your money exchange business for long-term success in the region. With Dubai continuing to invest in infrastructure and business-friendly regulation, DIFC 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 Dubai government has fostered a business-friendly environment with streamlined processes that cater to the large British business community.

Independent legal framework (common law)

Own courts and arbitration centre

Premier financial hub

Zero tax for 50 years

Access to regional capital markets

Visa Requirements for British Nationals

British nationals can enter the UAE visa-free for 30 days. For business setup, a residence visa is processed after company incorporation. Once your money exchange licence is issued by DIFC, 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 British Business Owners

British nationals generally experience smooth corporate bank account opening. UK-regulated banking history is viewed favourably by UAE banks. For your money exchange business in DIFC, IBA recommends opening a corporate account with a bank that has experience serving British business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any United Kingdom-specific attestations required.

Document Attestation for British Nationals

British nationals setting up a business in the UAE will need to attest certain documents through Foreign, Commonwealth & Development Office (FCDO). 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 DIFC.

Requirements & Documents

1Valid United Kingdom passport (minimum 6 months validity)

2Documents attested by Foreign, Commonwealth & Development Office (FCDO)

3UAE Embassy attestation from Abu Dhabi

4Passport-sized photographs with white background

5Completed application form for trade licence

6Relevant industry experience documentation

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

8Entry stamp or valid UAE visa copy (if applying from within the UAE)

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	12,000
Visa Package (per visa)	5,500
Flexi Desk	18,000
Shared Office	35,000
Private Office	80,000
Estimated Total (Year 1)	From AED 35,500

* 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 DIFC 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 money exchange licence application to DIFC. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official DIFC trade licence within 5–8 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 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. DIFC allows 100% foreign ownership for all nationalities, including British 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