Money Exchange in SHAMS
Starting From
AED 6,150
Setup Time
2 Business Days
Visa Quota
3 Visas
Location
Sharjah
About Money Exchange
Setting up a Money Exchange business in Sharjah Media City as an Iranian citizen is a straightforward process when you understand the specific requirements that apply to Iran-based entrepreneurs. IBA International has helped hundreds of Iranian business owners navigate the licensing, visa, and banking procedures unique to their nationality.
The licensing process at SHAMS has been streamlined significantly, with most financial licences processed within 2 business days. As a free zone entity, you will enjoy 100% foreign ownership with no requirement for a local sponsor. The base licence fee is approximately AED 6,150, making it one of the most affordable options in the UAE.
At IBA International, we simplify the process of establishing your money exchange business in Sharjah Media City. From selecting the right licence type to securing your visa and opening a corporate bank account, our experienced team ensures every detail is handled professionally and efficiently.
Why SHAMS for Money Exchange?
Sharjah Media City is widely regarded as one of the UAE's premier destinations for financial businesses, and for good reason.
The jurisdiction offers budget-friendly from aed 6,150, which is particularly valuable for money exchange operations. Additionally, fast setup process 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 2,500 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 SHAMS for money exchange professionals. Furthermore, no physical office requirement positions your money exchange business for long-term success in the region. With Sharjah continuing to invest in infrastructure and business-friendly regulation, SHAMS 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 Sharjah 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 | 6,150 |
| Visa Package (per visa) | 3,200 |
| Flexi Desk | 2,500 |
| Shared Office | 6,000 |
| Private Office | 15,000 |
| Estimated Total (Year 1) | From AED 11,850 |
* 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 SHAMS 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 SHAMS. IBA handles all paperwork and government interactions.
Trade Licence Issued
Receive your official SHAMS trade licence within 2–5 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: 2 business days. IBA handles the entire process end-to-end so you can focus on your business.
Frequently Asked Questions
Yes. SHAMS 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 SHAMS? Our team is here to help.
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Official Source
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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.
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