Fintech & Payments in the UAE for Singaporeans

Why DMCC Free Zone

Day to day, unlike some zones, DMCC Free Zone does not require a large paid-up capital to be blocked in a bank account before the licence is issued. DMCC Free Zone is located in Jumeirah Lakes Towers (JLT), Dubai — central business district, and the licensing authority's processing time for a standard file is around 7 working days.

How DMCC Free Zone works with GoldenKey

1. 
   Step 1

   Consultation and activity selection

   As we tell every client, in the first call we check that DMCC Free Zone lists your activity, settle the licence type and match the visa package and office to what you actually need.

2. 
   Step 2

   Name reservation and initial approval

   GoldenKey reserves your trade name with the DMCC Free Zone authority and obtains initial approval, typically within one to two working days (Monday to Friday). Expect clear updates from your GoldenKey consultant while this step runs for opening a fintech company in the UAE as a Singaporean founder.

3. 
   Step 3

   Document submission and payment

   In our experience, you sign the application and memorandum, we file the attested paperwork with DMCC Free Zone and the licensing authority's licence fee is paid.

4. 
   Step 4

   Licence issued and next steps

   DMCC Free Zone issues the licence, incorporation certificate and lease; from there we open the establishment card, process visas and arrange your bank introduction. Your portal shows the status of this step for opening a fintech company in the UAE as a Singaporean founder in real time.

Documents required

For most clients, gather these papers and GoldenKey will take care of the rest of opening a fintech company in the UAE as a Singaporean founder.

• A no-objection certificate from your employer if you hold a UAE employment visa
• A passport-size photograph on a white background
• A short business plan or activity description for certain professional activities
• Proof of address such as a utility bill or bank statement, requested by some zones
• A bank statement from your Singapore bank for the last three months, which banks use to understand your profile
• A passport granted by Singapore with at least six months' validity

Pricing

All prices for opening a fintech company in the UAE as a Singaporean founder are indicative, shown in AED and confirmed in writing before you pay. Put simply, the figures below for opening a fintech company in the UAE as a Singaporean founder are updated by GoldenKey whenever the licensing authority changes its fees, so the price you see is the current one.

Pricing available on request — message us for a written quotation.

Why the UAE

Importantly, the dirham has been pegged to the US dollar since 1997, which removes currency risk for opening a fintech company in the UAE as a Singaporean founder and makes international pricing simple. Put simply, banking, logistics, telecoms and digital government services in the UAE are among the most advanced in the region, which keeps the running costs of opening a fintech company in the UAE as a Singaporean founder predictable.

Why GoldenKey

GoldenKey is based in Ajman Free Zone and has helped founders from more than 60 countries with opening a fintech company in the UAE as a Singaporean founder, so the paperwork, approvals and timing hold no surprises for us. Importantly, because GoldenKey works with the licensing authority, the immigration department and the banks every single week, we know exactly which supporting documents each of them will ask for on a DMCC Free Zone file. As we tell every client, our quotations for opening a fintech company in the UAE as a Singaporean founder list every government fee and our service fee on one page, in writing, before a single dirham changes hands anything.

Frequently asked questions