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

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

How long does it take for an Iranian citizen to set up a money exchange company in Dubai DED?

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 Mainland?

The total setup cost for a Money Exchange business in Dubai DED starts from approximately AED 12,000 for the trade licence. Additional costs include visa processing (AED 4,500 per visa), office space, and establishment card fees. IBA provides a detailed cost breakdown during your free consultation.

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

Yes, following the recent amendments to the UAE Commercial Companies Law, 100% foreign ownership is now permitted for most mainland activities, including money exchange. Previously, a local sponsor holding 51% was required, but this is no longer the case.

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

The UAE introduced a 9% corporate tax on profits exceeding AED 375,000 (effective June 2023). Mainland companies are subject to the standard 9% corporate tax rate on taxable profits exceeding AED 375,000. There is no personal income tax in the UAE. VAT at 5% applies to most goods and services.

What are the annual renewal costs for a Money Exchange business in Dubai Mainland?

The annual licence renewal for a Money Exchange Dubai DED company costs approximately AED 12,000, 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.

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

Yes, your money exchange licence from Dubai DED entitles you to apply for residence visas. The number of visas depends on your office space size — larger offices qualify for more visas. Each visa costs approximately AED 4,500.

Money Exchange in Dubai Mainland for Iranian nationals

MainlandFinancialRegulated Activity

Money Exchange in Dubai DED

Starting From

AED 12,000

Setup Time

3 Business Days

Visa Quota

0 Visas

Location

Dubai

About Money Exchange

The UAE continues to attract Iranian entrepreneurs seeking to tap into the Middle Eastern market, and Dubai DED is one of the most popular jurisdictions for money exchange operations. Historic trading community (~100,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from Dubai Mainland gives your Money Exchange business access to Dubai's world-class infrastructure, including modern office facilities such as ejari office, co-working, 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 Mainland 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 Dubai DED for Money Exchange?

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

The jurisdiction offers trade anywhere in the uae, which is particularly valuable for money exchange operations. Additionally, government contracts eligibility ensures that your business remains competitive in the regional market. Operating on the mainland allows you to trade directly with the local UAE market without restrictions, and you can bid on government contracts — a significant advantage over free zone entities. Office solutions start from AED 8,000 per year for a co-working, making it accessible for businesses of all sizes. No geographic restrictions further enhances the appeal of Dubai DED for money exchange professionals. Furthermore, wider business scope positions your money exchange business for long-term success in the region. With Dubai continuing to invest in infrastructure and business-friendly regulation, Dubai DED remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

Trade anywhere in the UAE

Government contracts eligibility

No geographic restrictions

Wider business scope

Direct customer access

Visa Requirements for Iranian Nationals

For Iranian entrepreneurs, the visa process works as follows: Iranian nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after 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 Dubai DED.

Banking for Iranian Business Owners

Opening a corporate bank account for your money exchange company in Dubai DED: Iranian entrepreneurs may face additional due diligence requirements. IBA assists with navigating compliance procedures for successful account opening. IBA has established relationships with major UAE banks and will personally introduce you to relationship managers who understand Iranian business structures.

Document Attestation for Iranian Nationals

Document attestation for Iranian nationals involves: (1) Notarisation in Iran, (2) Attestation by Iranian Ministry of Foreign Affairs, (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 Iran passport (minimum 6 months validity)

2Documents attested by Iranian Ministry of Foreign Affairs

3UAE Embassy attestation from Abu Dhabi

4Passport copies of all shareholders and directors (valid for at least 6 months)

5Completed application form for trade licence

6Entry stamp or valid UAE visa copy (if applying from within the UAE)

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

8Detailed business plan or activity description

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)	4,500
Ejari Office	15,000
Co-Working	8,000
Private Office	30,000
Estimated Total (Year 1)	From AED 31,500

* 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 Dubai DED licence options for Iranian nationals.

Document Preparation

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

Licence Application

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

Trade Licence Issued

Receive your official Dubai DED trade licence within 3–6 business days.

Visa Processing

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

Bank Account

Open a corporate bank account. Iranian entrepreneurs may face additional due diligence requirements.

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. Since the UAE's 2020 Commercial Companies Law amendment, Iranian nationals can own 100% of most mainland business activities including money exchange.

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