What documents does a Canadian national need to start a petroleum trading business in the UAE?

You will need a valid Canada passport (minimum 6 months validity), passport-sized photos, proof of address in Canada, attested documents via Global Affairs Canada / Provincial Authentication, and a business plan for your petroleum trading venture.

How long does it take for a Canadian citizen to set up a petroleum trading company in SHAMS?

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.

How much does it cost to set up a Petroleum Trading business in Sharjah Media City?

The total setup cost for a Petroleum Trading business in SHAMS starts from approximately AED 6,150 for the trade licence. Additional costs include visa processing (AED 3,200 per visa), office space, and establishment card fees. IBA provides a detailed cost breakdown during your free consultation.

Can a foreigner own 100% of a Petroleum Trading company in Sharjah Media City?

Yes, SHAMS allows 100% foreign ownership with no requirement for a local partner or sponsor. This is one of the key advantages of establishing your business in this jurisdiction.

What are the annual renewal costs for a Petroleum Trading business in Sharjah Media City?

The annual licence renewal for a Petroleum Trading SHAMS company costs approximately AED 6,150, 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 documents do I need to set up a Petroleum Trading business in SHAMS?

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 Ministry of Energy. IBA handles all document preparation and submission on your behalf.

Can I open a corporate bank account with my SHAMS Petroleum Trading licence?

Yes, with a valid trade licence from SHAMS, 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.

Petroleum Trading in Sharjah Media City for Canadian nationals

Free ZoneCommercialRegulated Activity

Petroleum Trading in SHAMS

Starting From

AED 6,150

Setup Time

2 Business Days

Visa Quota

3 Visas

Location

Sharjah

About Petroleum Trading

The UAE continues to attract Canadian entrepreneurs seeking to tap into the Middle Eastern market, and SHAMS is one of the most popular jurisdictions for petroleum trading operations. Growing Canadian business community (~40,000), which means you will find an established support network, community events, and nationality-specific resources to help your business thrive.

Operating from Sharjah Media City gives your Petroleum Trading business access to Sharjah's world-class infrastructure, including modern office facilities such as flexi desk, shared office, private office and excellent connectivity. As a regulated activity, you will need approval from Ministry of Energy before commencing operations, but IBA's team handles this process seamlessly on your behalf.

IBA International has been helping entrepreneurs set up petroleum trading businesses in Sharjah Media City 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 SHAMS for Petroleum Trading?

Choosing SHAMS for your petroleum trading business comes with a host of strategic advantages that directly impact your bottom line and growth potential.

The jurisdiction offers budget-friendly from aed 6,150, which is particularly valuable for petroleum trading 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 petroleum trading professionals. Furthermore, no physical office requirement positions your petroleum trading 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 commercial enterprises looking to expand into the Middle East and North Africa region.

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

Budget-friendly from AED 6,150

Fast setup process

100% foreign ownership

No physical office requirement

Media and creative focus

Visa Requirements for Canadian Nationals

For Canadian entrepreneurs, the visa process works as follows: Canadian nationals can enter the UAE visa-free for 30 days. For business setup, a residence visa is processed after company incorporation. IBA handles the complete immigration procedure — from entry permit to residence visa stamping — so you can focus on launching your petroleum trading business in SHAMS.

Banking for Canadian Business Owners

Opening a corporate bank account for your petroleum trading company in SHAMS: Canadian nationals generally experience smooth corporate bank account opening. Strong Canadian-UAE relations facilitate banking processes. IBA has established relationships with major UAE banks and will personally introduce you to relationship managers who understand Canadian business structures.

Document Attestation for Canadian Nationals

Document attestation for Canadian nationals involves: (1) Notarisation in Canada, (2) Attestation by Global Affairs Canada / Provincial Authentication, (3) UAE Embassy attestation in Dubai. IBA provides a complete attestation checklist specific to petroleum trading businesses to ensure nothing is missed.

Requirements & Documents

1Valid Canada passport (minimum 6 months validity)

2Documents attested by Global Affairs Canada / Provincial Authentication

3UAE Embassy attestation from Abu Dhabi

4Passport copies of all shareholders and directors (valid for at least 6 months)

5Completed application form for trade licence

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

7Proposed company name (2-3 alternatives)

8Professional qualification certificates or approvals from Ministry of Energy

Regulatory Note: Petroleum Trading is a regulated activity in the UAE. Additional approval from Ministry of Energy 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 petroleum trading business plan and the best SHAMS licence options for Canadian nationals.

Document Preparation

Prepare and attest all required documents from Canada through Global Affairs Canada / Provincial Authentication and the UAE Embassy.

Licence Application

Submit the petroleum trading 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. Canadian nationals can enter the UAE visa-free for 30 days.

Bank Account

Open a corporate bank account. Canadian nationals generally experience smooth corporate bank account opening.

Start Operations

Your petroleum trading 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 Canadian nationals. No local sponsor or partner is required.

Petroleum Trading 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