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 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.

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.

Can I open a corporate bank account with my KIZAD Money Exchange licence?

Yes, with a valid trade licence from KIZAD, you can open a corporate bank account at any UAE bank. Free zone companies can bank with most major UAE banks including Emirates NBD, ADCB, RAKBank, and Mashreq. IBA assists with introductions and documentation for smooth bank account opening.

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.

How much does it cost to set up a Money Exchange business in Khalifa Industrial Zone?

The total setup cost for a Money Exchange business in KIZAD starts from approximately AED 10,000 for the trade licence. Additional costs include visa processing (AED 4,000 per visa), office space, and establishment card fees. IBA provides a detailed cost breakdown during your free consultation.

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.

Money Exchange in Khalifa Industrial Zone for Iranian 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

As an Iranian national looking to establish a Money Exchange business in Khalifa Industrial Zone, the UAE offers one of the most welcoming environments for international entrepreneurs. Iran has strong bilateral trade relations with the UAE, and thousands of Iranian professionals have already successfully set up businesses across the emirates.

As a free zone entity regulated under Abu Dhabi's commercial laws, your Money Exchange business will benefit from industrial powerhouse and adjacent to khalifa port. The KIZAD licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 10,000.

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

Why KIZAD for Money Exchange?

There are several compelling reasons why Khalifa Industrial Zone continues to attract money exchange entrepreneurs from around the world.

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

Industrial powerhouse

Adjacent to Khalifa Port

Massive land availability

Purpose-built for manufacturing

Competitive infrastructure costs

Visa Requirements for Iranian Nationals

Iranian nationals require a pre-arranged UAE visa. Employment or investor visa is processed through the company after 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 Iranian Business Owners

Iranian entrepreneurs may face additional due diligence requirements. IBA assists with navigating compliance procedures for successful account opening. For your money exchange business in KIZAD, IBA recommends opening a corporate account with a bank that has experience serving Iranian business owners. We will prepare your banking file including the trade licence, shareholder documents, business plan, and any Iran-specific attestations required.

Document Attestation for Iranian Nationals

Iranian nationals setting up a business in the UAE will need to attest certain documents through Iranian Ministry of Foreign 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 KIZAD.

Requirements & Documents

1Valid Iran passport (minimum 6 months validity)

2Documents attested by Iranian Ministry of Foreign Affairs

3UAE Embassy attestation from Abu Dhabi

4Passport-sized photographs with white background

5Professional qualification certificates or approvals from Central Bank of UAE

6Relevant industry experience documentation

7Passport copies of all shareholders and directors (valid for at least 6 months)

8Proof of residential address (utility bill or bank statement)

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 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 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. 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: 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 Iranian 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