UAE Forex License (DIFC / ADGM / DMCC)
UAE Forex License gained significant ground in the last few years, positioning the region directly and indirectly as a gateway to the Middle East. Being among the first to establish infrastructure to support a regulated environment, its options are diverse and cater to any type of investor.
With three routes to choose from Mainland, Free Zones and DMCC registration, the possibilities are endless. Major differences between the options, allow any potential investor to explore the possibilities the region has to offer, although it could “break the bank” therefore its not for the faint at heart.
Below you will find information about the major differences between the UAE forex license options. You will also be able to differentiate between options-within-options since there are over 40 free zones, with their own requirements to setup a business. We will focus on the 2 free zones that distinguish themselves as regulatory bodies for investment firms.
UAE Forex License
DIFC/ADGM/DMCC
| Indicator | Value |
|---|---|
| GDP | $415.02 billion |
| Inflation rate | 3.27% |
| External Debt | €167650 million |
| Interest Rate | 5.15% |
| Gold Reserves | 74.98 tonnes |
| Corporate Tax Rate | 0% |
| Population | 10 million |
| Per capita income | as of 2021 - $42,535.97 |
| Unemployment Rate | 3.9% |
| Corruption Rank | 27 of 180 |
Latest economy information
- United Arab Emirates Coronavirus COVID-19 Deaths June 5, 2023
- United Arab Emirates Crude Oil Rigs June 5, 2023Crude Oil Rigs in the United Arab Emirates increased to 53 in May from 49 in April of 2023. Crude Oil Rigs in the United Arab Emirates averaged 23.62 from 1995 until 2023, reaching an all time high of 64 in October of 2019 and a record low of 4 in October of 2000. This […]
- United Arab Emirates Three Month Interbank Rate June 5, 2023United Arab Emirates Three Month Interbank Rate was at 5.31 percent on Monday June 5. Interbank Rate in the United Arab Emirates averaged 2.36 percent from 2000 until 2023, reaching an all time high of 6.96 percent in June of 2000 and a record low of 0.25 percent in August of 2021. The interbank rate […]
- United Arab Emirates Non-Oil Private Sector PMI June 5, 2023Manufacturing PMI in the United Arab Emirates decreased to 55.50 points in May from 56.60 points in April of 2023. Manufacturing PMI in the United Arab Emirates averaged 54.55 points from 2011 until 2023, reaching an all time high of 61.20 points in October of 2014 and a record low of 44.10 points in April […]
Average Cost for license
Contact usOffice requirements
YesEmployees required
Yes
Capital Requirements
$500,000Regular reporting
YesPublicly Recorded Info
No
UAE Forex License (DIFC / ADGM)
How to apply?
For a UAE Forex License there are three options to choose from with big differences between them:
1. Mainland | General information:
- Requires 51% local ownership
- Corporate Tax of 9%
- Very costly both for setup and capital requirements
- Complex application process
2. Free Zones | Three options with 100% ownership and 0% corporate tax:
ADGM – Abu Dhabi Global Market – Established by the UAE Federal Decree with three independent authorities:
- The Registration Authority (RA)
- The Financial Services Regulatory Authority (FSRA) – the Regulatory Body
- The ADGM Courts
DIFC – Dubai International Financial Center
- Regulating Body – DFSA / Dubai Financial Services Authority
3. DMCC – Dubai Multi Commodities Center
- For Financial Services companies, DMCC allows registration for establishing a branch / representative office but NOT for client solicitation.
Simplified application process for a UAE forex license:
- Step 1 – Submit a letter of intend
- Step 2 – Prepare and submit license application
- Step 3 – Respond to the initial review letter
- Step 3 – In Principle letter (Conditional approval)
- Step 4 – Finalize additional requirements requested, set up banking and capital requirements
- Step 5 – Final approval – Commence operations