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

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

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

The complete process — from initial application to trade licence issuance — typically takes 2–5 business days. Adding visa processing and bank account opening, the total timeline is approximately 12–22 business days.

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

Yes, your money exchange licence from IFZA 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 3,500.

How much does it cost to set up a Money Exchange business in International Free Zone Authority?

The total setup cost for a Money Exchange business in IFZA starts from approximately AED 11,750 for the trade licence. Additional costs include visa processing (AED 3,500 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 IFZA?

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.

Is International Free Zone Authority good for money exchange start-ups?

IFZA is well-suited for both start-ups and established businesses, offering most affordable dubai free zone and fast 48-hour setup. Flexible office solutions starting from AED 3,500 per year help keep initial overheads manageable.

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

The typical processing time for a money exchange licence at IFZA is 2 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.

Money Exchange in International Free Zone Authority for Indian nationals

Free ZoneFinancialRegulated Activity

Money Exchange in IFZA

Starting From

AED 11,750

Setup Time

2 Business Days

Visa Quota

3 Visas

Location

Dubai

About Money Exchange

As an Indian national looking to establish a Money Exchange business in International Free Zone Authority, the UAE offers one of the most welcoming environments for international entrepreneurs. India has strong bilateral trade relations with the UAE, and thousands of Indian 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 most affordable dubai free zone and fast 48-hour setup. The IFZA licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 11,750.

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

Why IFZA for Money Exchange?

There are several compelling reasons why International Free Zone Authority continues to attract money exchange entrepreneurs from around the world.

The jurisdiction offers most affordable dubai free zone, which is particularly valuable for money exchange operations. Additionally, fast 48-hour setup 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 3,500 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. 100% foreign ownership further enhances the appeal of IFZA for money exchange professionals. Furthermore, no currency restrictions positions your money exchange business for long-term success in the region. With Dubai continuing to invest in infrastructure and business-friendly regulation, IFZA remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

Most affordable Dubai free zone

Fast 48-hour setup

100% foreign ownership

No currency restrictions

Multiple activities on one licence

Visa Requirements for Indian Nationals

Indian passport holders can obtain a UAE visa on arrival for 14 days. For business setup, a proper residence visa is required. Once your money exchange licence is issued by IFZA, IBA will process your residence visa application, Emirates ID, and medical fitness tests. The entire process typically takes 7–14 business days from licence approval to visa stamping.

Banking for Indian Business Owners

Indian nationals typically find it straightforward to open corporate accounts with UAE banks. Many banks have dedicated Indian business desks. For your money exchange business in IFZA, IBA recommends opening a corporate account with a bank that has experience serving Indian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any India-specific attestations required.

Document Attestation for Indian Nationals

Indian nationals setting up a business in the UAE will need to attest certain documents through MEA (Ministry of External 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 IFZA.

Requirements & Documents

1Valid India passport (minimum 6 months validity)

2Documents attested by MEA (Ministry of External Affairs)

3UAE Embassy attestation from Abu Dhabi

4Detailed business plan or activity description

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

6Proposed company name (2-3 alternatives)

7Relevant industry experience documentation

8Passport-sized photographs with white background

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	11,750
Visa Package (per visa)	3,500
Flexi Desk	3,500
Shared Office	8,000
Private Office	18,000
Estimated Total (Year 1)	From AED 18,750

* 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 IFZA licence options for Indian nationals.

Document Preparation

Prepare and attest all required documents from India through MEA (Ministry of External Affairs) and the UAE Embassy.

Licence Application

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

Trade Licence Issued

Receive your official IFZA trade licence within 2–5 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Indian passport holders can obtain a UAE visa on arrival for 14 days.

Bank Account

Open a corporate bank account. Indian nationals typically find it straightforward to open corporate accounts with UAE banks.

Start Operations

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

Total estimated time: 2 business days. IBA handles the entire process end-to-end so you can focus on your business.

Frequently Asked Questions

Yes. IFZA allows 100% foreign ownership for all nationalities, including Indian 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