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

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

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

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.

What are the tax implications for a Money Exchange business in Khalifa Industrial Zone?

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

Most of the setup process for a money exchange business in KIZAD 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.

What are the annual renewal costs for a Money Exchange business in Khalifa Industrial Zone?

The annual licence renewal for a Money Exchange KIZAD company costs approximately AED 10,000, 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.

What business activities can I include on my KIZAD licence?

Your KIZAD licence can include money exchange as the primary activity, along with related activities that fall under the same category. Most free zones allow multiple activities on a single licence, though some may charge a small fee for additional activities. IBA advises on the optimal activity selection for your business needs.

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

The typical processing time for a money exchange licence at KIZAD 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.

Money Exchange in Khalifa Industrial Zone for Australian nationals

Free ZoneFinancialRegulated Activity

Money Exchange in KIZAD

Starting From

AED 10,000

Setup Time

5 Business Days

Visa Quota

6 Visas

Location

Abu Dhabi

About Money Exchange

The UAE continues to attract Australian entrepreneurs seeking to tap into the Middle Eastern market, and KIZAD is one of the most popular jurisdictions for money exchange operations. Growing Australian business community (~25,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from Khalifa Industrial Zone gives your Money Exchange business access to Abu Dhabi's world-class infrastructure, including modern office facilities such as office, warehouse, industrial plot 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 Khalifa Industrial Zone 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 KIZAD for Money Exchange?

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

The jurisdiction offers industrial powerhouse, which is particularly valuable for money exchange operations. Additionally, adjacent to khalifa port 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 12,000 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. Massive land availability further enhances the appeal of KIZAD for money exchange professionals. Furthermore, purpose-built for manufacturing positions your money exchange business for long-term success in the region. With Abu Dhabi continuing to invest in infrastructure and business-friendly regulation, KIZAD remains an excellent choice for both start-ups and established financial enterprises looking to expand into the Middle East and North Africa region.

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

Industrial powerhouse

Adjacent to Khalifa Port

Massive land availability

Purpose-built for manufacturing

Competitive infrastructure costs

Visa Requirements for Australian Nationals

Australian 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 KIZAD, 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 Australian Business Owners

Australian nationals generally experience smooth corporate bank account opening. Commonwealth banking standards are recognised by UAE banks. For your money exchange business in KIZAD, IBA recommends opening a corporate account with a bank that has experience serving Australian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Australia-specific attestations required.

Document Attestation for Australian Nationals

Australian nationals setting up a business in the UAE will need to attest certain documents through Australian Department of Foreign Affairs and Trade. 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 KIZAD.

Requirements & Documents

1Valid Australia passport (minimum 6 months validity)

2Documents attested by Australian Department of Foreign Affairs and Trade

3UAE Embassy attestation from Abu Dhabi

4Completed application form for trade licence

5Entry stamp or valid UAE visa copy (if applying from within the UAE)

6Proof of residential address (utility bill or bank statement)

7Signed application form from KIZAD authority

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	10,000
Visa Package (per visa)	4,000
Office	12,000
Warehouse	25,000
Industrial Plot	50,000
Estimated Total (Year 1)	From AED 26,000

* 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 KIZAD licence options for Australian nationals.

Document Preparation

Prepare and attest all required documents from Australia through Australian Department of Foreign Affairs and Trade and the UAE Embassy.

Licence Application

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

Trade Licence Issued

Receive your official KIZAD trade licence within 5–8 business days.

Visa Processing

Process your UAE residence visa, Emirates ID, and medical fitness. Australian nationals can enter the UAE visa-free for 30 days.

Bank Account

Open a corporate bank account. Australian 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. KIZAD allows 100% foreign ownership for all nationalities, including Australian 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