Why license a money services business in UAE?
The UAE is one of the world’s top remittance corridors, with a large expatriate workforce that drives structurally high demand for licensed exchange and remittance. The CBUAE pairs a long-established Exchange House regime with a modern, internationally aligned payments framework (the Retail Payment Services and Card Schemes Regulation and the Stored Value Facilities Regulation) that has already attracted major fintechs. Add strong banking infrastructure, AED/USD stability, and a 0% personal income tax environment, and the UAE is a credible home base bridging South Asia, the Middle East, and Africa. The trade-off is rigour: licensing is discretionary and selective, with real substance, capital, and AML/CFT expectations.
A top remittance corridor. The UAE is one of the world’s largest remittance corridors with a vast expatriate workforce, so structural demand for licensed exchange and remittance is high.
A modern CBUAE framework. The Retail Payment Services and Card Schemes and Stored Value Facilities regulations are internationally aligned and have already attracted major fintechs.
Strong banking infrastructure. Deep banking rails and AED/USD stability support exchange, remittance, and payment operations.
0% personal income tax. A 0% personal income tax environment is attractive to founders and key management relocating to the UAE.
A credible regional hub. The UAE bridges South Asia, the Middle East, and Africa, positioning licensed operators across major flow corridors.
Multiple licensing pathways. Exchange House, Retail Payment Services, and Stored Value Facility regimes let you match the licence to your actual business model.
The CBUAE regimes and what they cover
We map your model to the correct CBUAE regime and requirements:
Exchange House Licence
Buying and selling foreign currency and traveller cheques to and from customers physically present in the UAE, plus remittances. A Category C licence additionally permits Wages Protection System payments.
Remittance
Cross-border and domestic money transfer for customers, conducted within the Exchange House regime under the CBUAE standards for licensing and monitoring exchange business.
Retail Payment Services (RPSCS)
Payment-account and instrument issuance, money transfer, merchant acquiring, and other retail payment services licensed under the Retail Payment Services and Card Schemes Regulation.
Stored Value Facilities (SVF)
Wallets and prepaid stored value, licensed under the Stored Value Facilities Regulation for issuers of stored value to the public.
Wages Protection System
A Category C Exchange House licence additionally permits Wages Protection System (WPS) payments for salary disbursement.
AML / CFT Program
A written AML/CFT program, compliance officer, KYC, sanctions screening, transaction monitoring, suspicious transaction reporting, and recordkeeping that the CBUAE expects.
Note: Costs are indicative and may change with your requirements and regulations. Contact us for a tailored quote.