is known as an important investment center where businessmen can analyze and test the market in varied fields, especially where there is interest for innovation and technology. The financial sector in the Emirates
is well developed and lets the doors open for all entrepreneurs willing to set up varied types of companies, including fintech businesses
, where the accent is focused on successful services such firm can offer in the banking sector
for example, with the help of innovative and useful products. Opening a fintech company in Dubai
must meet several requirements, a matter where our lawyers in Dubai
can offer legal support.
Conditions to open a fintech company in Dubai
Fintech companies can be set up in Dubai International Financial Centre (DIFC)
, one of the city’s most important and developed free zones. Once the “innovation testing license” (ITL)
issued by Dubai Financial Services Authority, a businessman can establish a fintech company in Dubai
, considering that there is no need of a minimum share capital in this matter. A fintech company
can offer varied products for financial entities
interested in developing their tech area to provide quality, fast and reliable services for their clients.
Electronic bill payments, online payments, internet banking and all sorts of applications which can help the ease of transactions or exchanges, whether in the country or abroad are among important facilities a financial company
must provide for its customers. In this matter, a fintech company
can implement innovative and interesting services, considering the fast development in technology. Taking into account the requirements and the main steps in opening a fintech company in Dubai
, one should ask for legal help and advice in this matter from our attorneys in Dubai
How to obtain the ITL for your fintech company in Dubai
In order to start the activity as a fintech company in Dubai
, an entrepreneur must obtain the innovation testing license
, if several conditions are fulfilled, as established by the Financial Services Authority in Dubai
. For example, a fintech company in Dubai
needs to use the innovation when designing its products and services for a financial entity and must be ready to test and implement them with the clients. The financial market in Dubai
aligns with the tech requirements of the moment and is always one step ahead, which is why fintech companies have met a huge development in the past years, in a continuous search of providing top quality services.
Important programs sustain the development of fintech companies in Dubai
The government in Dubai
sustains the financial development in any way and offers support for all entrepreneurs who direct their attention to this significant field. This is how several programs have been introduced, with the purpose of helping fintech companies
to develop in a fast and consistent manner. The FinTech Hive, the UAE Innovation Strategy, the Dubai Blockchain Strategy and the Dubai Future Accelerators are among important programs which help fintech companies in Dubai
progress in the financial sector.
For additional information about how to open a fintech company in Dubai
, please do not hesitate to contact
or law firm in Dubai