Money Exchange in RAK ICC
Starting From
AED 12,500
Setup Time
3 Business Days
Visa Quota
0 Visas
Location
Ras Al Khaimah
About Money Exchange
As an Iranian national looking to establish a Money Exchange business in RAK International Corporate Centre, 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 an offshore entity regulated under Ras Al Khaimah's commercial laws, your Money Exchange business will benefit from cost-effective offshore structure and full foreign ownership. The RAK ICC licensing framework is designed to accommodate both start-ups and established firms, with annual licence fees starting from approximately AED 12,500.
With over two decades of experience in UAE business formation, IBA International provides end-to-end support for your money exchange setup in RAK ICC. Our dedicated advisors handle the paperwork, government liaisons, and compliance requirements, so you can focus on building your business from day one.
Why RAK ICC for Money Exchange?
There are several compelling reasons why RAK International Corporate Centre continues to attract money exchange entrepreneurs from around the world.
The jurisdiction offers cost-effective offshore structure, which is particularly valuable for money exchange operations. Additionally, full foreign ownership ensures that your business remains competitive in the regional market. The offshore structure provides maximum confidentiality and is ideal for holding assets, intellectual property, and international trade operations. Many international businesses choose the offshore route for its streamlined compliance requirements and ability to open multi-currency bank accounts with leading UAE banks. No tax obligation further enhances the appeal of RAK ICC for money exchange professionals. Furthermore, confidentiality protection positions your money exchange business for long-term success in the region. With Ras Al Khaimah continuing to invest in infrastructure and business-friendly regulation, RAK ICC 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 Ras Al Khaimah government has fostered a business-friendly environment with streamlined processes that cater to the large Iranian business community.
Visa Requirements for Iranian Nationals
Banking for Iranian Business Owners
Document Attestation for Iranian Nationals
Requirements & Documents
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 | 12,500 |
| Estimated Total (Year 1) | From AED 12,500 |
* 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 RAK ICC 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 RAK ICC. IBA handles all paperwork and government interactions.
Trade Licence Issued
Receive your official RAK ICC 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. RAK ICC allows 100% foreign ownership for all nationalities, including Iranian nationals. No local sponsor or partner is required.
Money Exchange in Other Jurisdictions
Get Started Today
Ready to set up your money exchange in RAK ICC? Our team is here to help.
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Official Source
www.rakicc.com ↗Popular in RAK ICC
By IBA Business Setup Team
Last updated: 26 February 2026
International Business Advisors DMCC has been helping entrepreneurs set up businesses in the UAE since 2004, with 20+ years of hands-on expertise.
Ready to Start Your Money Exchange?
Get a personalised quote for setting up your money exchange in RAK ICC. Our advisors are ready to guide you through every step.