Table of Contents
Topic Summary
100% Foreign Ownership Through Meydan Free Zone
Setting up a travelers cheques exchangers business via Meydan Free Zone grants full foreign ownership with zero corporate tax on qualifying income. Operators also benefit from complete profit repatriation and a streamlined digital licensing process.
Clear Regulatory Framework Backed by UAE Authorities
The business operates under oversight from both the Securities and Commodities Authority and the Central Bank of the UAE. This dual regulatory structure provides operators with a well-defined compliance environment and strong institutional credibility.
Third-Party Approval Is Required Before Licensing
Before a trade licence is issued, your operational model, facility, and regulatory documentation must be reviewed and cleared by the relevant authority. Building this approval step into your setup timeline is essential to avoid delays.
AML Compliance Exemption Applies to This Activity
Travelers cheques exchangers operating under activity code 6612.94 are exempt from AML compliance requirements. This distinction can simplify certain operational and administrative obligations compared to other financial-auxiliary activities.
Strategic Alignment With Dubai's D33 Economic Agenda
The UAE has identified capital markets and financial services as strategic pillars under both the Dubai Economic Agenda D33 and We the UAE 2031. This government-level commitment creates sustained demand and a supportive environment for licensed financial-auxiliary businesses.
Know Exactly What This Activity Covers and Excludes
Activity code 6612.94 covers core travelers cheques exchange services, regulated delivery, client engagement, and regional market reach. Related services such as dealing in markets on own account are classified under separate activity codes and are not included.
Ideal for International Firms Entering the MENA Market
Global financial groups looking to establish a Dubai entity for regional brokerage, advisory, or auxiliary services are among the primary target audiences for this licence. The free zone structure offers a fast and cost-effective entry point into the broader MENA financial services market.
How to Start a Travelers Cheques Exchangers Business in Dubai with Meydan Free Zone
A licensed travelers cheques exchangers business serves the UAE's financial-auxiliary and capital-markets services market.¹
Regional demand, government investment in the sector, and strong enterprise and consumer need drive sustained demand for licensed travelers cheques exchangers businesses.²
For operators, this activity benefits from SCA and Central Bank of the UAE oversight, a clear regulatory framework, and strong regional distribution reach.³
That combination of capital-markets infrastructure, cross-border flows, and a growing fund sector is exactly where the opportunity lies.
The UAE has positioned capital markets and financial services as strategic pillars under the Dubai Economic Agenda D33 and We the UAE 2031, with explicit support for auxiliary activities.
Who is this for?
| Audience Segment | Profile |
|---|---|
| Financial-auxiliary service providers | Businesses providing brokerage, advisory, custody, administration, or related services to financial-market participants. |
| Capital-markets and fund operators | Teams running or supporting securities, commodities, derivatives, fund, or wealth-management activities. |
| International financial firms entering MENA | Global financial groups establishing a Dubai entity for regional brokerage, advisory, and auxiliary services. |
Setting up through Meydan Free Zone means 100% foreign ownership, zero corporate tax on qualifying income, full profit repatriation, and a fully digital licensing process, giving you a fast and cost-effective route into the Dubai financial services market.
6612.94 - Travelers Cheques Exchangers
Under this activity, you are in the business of operating a licensed travelers cheques exchangers business.
Services are delivered under the relevant regulatory oversight with appropriate facilities, systems, and qualified personnel.¹
| Category | Scope |
|---|---|
| Core Operations | Primary delivery. Travelers Cheques Exchangers core services provided to clients under the activity code. |
| Regulated Delivery | Compliance-led. Services delivered under the relevant regulatory framework, standards, and reporting obligations. |
| Client Engagement | Commercial scope. Onboarding, contracting, and ongoing service delivery to retail, corporate, or institutional clients as applicable. |
| Support and Operations | Operational back-office. Systems, staffing, documentation, and operational support needed to run the licensed activity. |
| Regional Reach | Market coverage. Delivery to clients across Dubai, the wider UAE, and regional markets within the scope of this activity. |
There are some things this activity does not cover. Activities such as dealing in markets on own account management, on a fee or contract basis fall under separate codes.
Other related but distinct services are classified under their own activity codes and not under this one.
In short: if you are operating a licensed travelers cheques exchangers business, you are in. If you are delivering a related but distinct service that falls under another activity, you are not.
Third-Party Approval
This business activity requires third-party approval before the trade licence is issued. In practice, your operational model, facility, and regulatory documentation must be reviewed and cleared by the relevant authority before licensing.
Anti-Money Laundering Compliance
This business activity is exempt from AML compliance requirements.
