Table of Contents
Topic Summary
Who This Business Licence Is Designed For
This activity suits financial-auxiliary service providers, capital-markets operators, and international financial firms entering the MENA region. It covers businesses delivering trustee, fiduciary, and custody services to retail, corporate, or institutional clients.
Key Benefits of Setting Up in Meydan Free Zone
Meydan Free Zone offers 100% foreign ownership, zero corporate tax on qualifying income, and full profit repatriation. The fully digital licensing process makes it a fast and cost-effective entry point into Dubai's financial services market.
What the Activity Licence Actually Covers
The licence covers core trustee, fiduciary, and custody service delivery alongside regulated compliance, client onboarding, back-office operations, and regional market reach. Services must be delivered under the relevant regulatory framework with qualified personnel and appropriate systems.
Activities Excluded From This Licence Code
Insurance agent and broker activities, as well as fund management, fall under separate activity codes and are not covered here. If your service is related but distinct, you will need to identify and apply under the correct classification.
No Third-Party Approval Required to Operate
Unlike some financial activities, this business does not require additional third-party regulatory approval beyond the Meydan Free Zone trade licence. You can begin operations under the activity code once your licence is issued.
Mandatory AML Compliance Obligations to Know
Operators must register on the goAML platform, appoint a compliance officer, and implement a written AML and counter-terrorism financing programme under Federal Decree-Law No. 20 of 2018. Records must be kept for a minimum of five years and suspicious transactions reported to the UAE Financial Intelligence Unit.
Why UAE Market Conditions Support This Business
Strong regional demand, cross-border capital flows, and a growing fund sector create sustained opportunity for licensed fiduciary and custody service providers. The UAE's Dubai Economic Agenda D33 and We the UAE 2031 strategy explicitly support capital-markets auxiliary activities.
How to Start a Trustee, Fiduciary And Custody Services On A Fee Or Contract Basis Business in Dubai with Meydan Free Zone
A licensed trustee, fiduciary and custody services on a fee or contract basis 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 trustee, fiduciary and custody services on a fee or contract basis 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.
6619.04 - Trustee, Fiduciary And Custody Services On A Fee Or Contract Basis
Under this activity, you are in the business of operating a licensed trustee, fiduciary and custody services on a fee or contract basis business.
Services are delivered under the relevant regulatory oversight with appropriate facilities, systems, and qualified personnel.¹
| Category | Scope |
|---|---|
| Core Operations | Primary delivery. Trustee, Fiduciary And Custody Services On A Fee Or Contract Basis 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 activities of insurance agents and brokers; management of funds 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 trustee, fiduciary and custody services on a fee or contract basis business, you are in. If you are delivering a related but distinct service that falls under another activity, you are not.
Third-Party Approval
No third-party approval is required for this business activity. Your Meydan Free Zone trade licence is sufficient to begin operations under this activity code.
Anti-Money Laundering Compliance
This business activity is subject to UAE Anti-Money Laundering (AML) compliance requirements under Federal Decree-Law No. 20 of 2018 and its implementing regulations. You must register on the goAML platform, implement a written AML/CFT programme, appoint a compliance officer, conduct customer due diligence and ongoing monitoring, maintain records for a minimum of five years, and file suspicious transaction reports with the UAE Financial Intelligence Unit.
