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 DMCC?

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 a Money Exchange business in Dubai Multi Commodities Centre?

The total setup cost for a Money Exchange business in DMCC starts from approximately AED 15,300 for the trade licence. Additional costs include visa processing (AED 5,200 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 a Money Exchange business in DMCC?

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 a foreigner own 100% of a Money Exchange company in Dubai Multi Commodities Centre?

Yes, DMCC 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.

Can I get a residence visa with my Money Exchange licence from DMCC?

Yes, your money exchange licence from DMCC 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 5,200.

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

Most of the setup process for a money exchange business in DMCC 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 Multi Commodities Centre for British nationals

Free ZoneFinancialRegulated Activity

Money Exchange in DMCC

Starting From

AED 15,300

Setup Time

3 Business Days

Visa Quota

3 Visas

Location

Dubai

About Money Exchange

As a British national looking to establish a Money Exchange business in Dubai Multi Commodities Centre, the UAE offers one of the most welcoming environments for international entrepreneurs. United Kingdom has strong bilateral trade relations with the UAE, and thousands of British professionals have already successfully set up businesses across the emirates.

As a free zone entity regulated under Dubai's commercial laws, your Money Exchange business will benefit from 100% foreign ownership and zero corporate and income tax. The DMCC licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 15,300.

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

Why DMCC for Money Exchange?

There are several compelling reasons why Dubai Multi Commodities Centre continues to attract money exchange entrepreneurs from around the world.

The jurisdiction offers 100% foreign ownership, which is particularly valuable for money exchange operations. Additionally, zero corporate and income tax 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 6,300 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. Strategic JLT location further enhances the appeal of DMCC for money exchange professionals. Furthermore, world's leading free zone positions your money exchange business for long-term success in the region. With Dubai continuing to invest in infrastructure and business-friendly regulation, DMCC 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.

100% foreign ownership

Zero corporate and income tax

Strategic JLT location

World's leading free zone

Access to commodities market

Visa Requirements for British Nationals

For British entrepreneurs, the visa process works as follows: British nationals can enter the UAE visa-free for 30 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 money exchange business in DMCC.

Banking for British Business Owners

Opening a corporate bank account for your money exchange company in DMCC: British nationals generally experience smooth corporate bank account opening. UK-regulated banking history is viewed favourably by UAE banks. IBA has established relationships with major UAE banks and will personally introduce you to relationship managers who understand British business structures.

Document Attestation for British Nationals

Document attestation for British nationals involves: (1) Notarisation in United Kingdom, (2) Attestation by Foreign, Commonwealth & Development Office (FCDO), (3) UAE Embassy attestation in Dubai. IBA provides a complete attestation checklist specific to money exchange businesses to ensure nothing is missed.

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

5Proposed company name (2-3 alternatives)

6Completed application form for trade licence

7Detailed business plan or activity description

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	15,300
Visa Package (per visa)	5,200
Flexi Desk	6,300
Shared Office	12,000
Private Office	30,000
Estimated Total (Year 1)	From AED 26,800

* 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 DMCC 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 DMCC. IBA handles all paperwork and government interactions.

Trade Licence Issued

Receive your official DMCC trade licence within 3–6 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: 3 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

Yes. DMCC 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