General Insurance Brokerage Business License in Dubai
Topic Summary
What Activity Code 6622.01 Actually Permits
This license authorizes holders to sell, negotiate, and solicit general insurance, reinsurance, and annuity products as an intermediary. Licensed brokers can advise clients on property, liability, marine, and commercial risks while liaising with both domestic and international insurers.
Dubai South Free Zone Offers Standout Benefits
Businesses established at Dubai South Business Hub enjoy 100% foreign ownership, zero personal income tax, and zero corporate tax on qualifying free zone income. Profits can be fully repatriated, and the streamlined regulatory process typically gets a license issued within two to four weeks.
UAE Insurance Market Is Substantial and Growing
The UAE insurance sector has recorded gross written premiums exceeding AED 50 billion in recent years, driven by strong demand across life, health, property, and liability lines. This scale makes Dubai one of the most commercially attractive bases for insurance intermediaries in the region.
Strategic Location Opens Multiple Regional Markets
Dubai serves as a gateway to the GCC, Africa, and South Asia, giving licensed brokers access to a vast and diverse client base. Dubai South's proximity to Al Maktoum International Airport and Expo City further strengthens its appeal for internationally focused firms.
A Wide Range of Professionals Qualify for This License
The license suits independent brokers, international brokerage firms expanding into the Middle East, reinsurance intermediaries, and financial advisory firms adding insurance distribution. Entrepreneurs with backgrounds in underwriting or risk management are also well-positioned to apply.
Regulation Follows International Best Practice
The UAE insurance sector is now overseen by the Central Bank of the UAE, which absorbed the former Insurance Authority's supervisory functions. This consolidated regulatory framework aligns with global standards, providing credibility and confidence to operators and their clients alike.
Dubai's financial services sector continues to attract global investors, and the insurance brokerage industry sits at the heart of that growth. As one of the most dynamic insurance markets in the Middle East, the UAE recorded gross written premiums exceeding AED 50 billion in recent years, reflecting robust demand across life, health, property and liability lines. For entrepreneurs and established firms looking to capitalise on this momentum, obtaining a General Insurance Brokerage Business License in Dubai represents a strategic and commercially rewarding move.
This guide covers everything you need to know about Activity Code 6622.01, a Business License under the Financial category, issued through the Dubai South Business Hub Free Zone. It covers what the license permits, who it suits, how to set it up, and why Dubai remains one of the world's most competitive jurisdictions for insurance intermediaries.
What the License Covers
Activity Code 6622.01 authorises the holder to operate as an insurance agent or broker engaged in the selling, negotiating, and soliciting of annuities, insurance policies, and reinsurance policies. Licensed professionals under this category act as intermediaries between clients and insurers, facilitating placement of risk across a wide range of product lines.
Selling and distributing general insurance and reinsurance products
Negotiating policy terms on behalf of individuals and corporate clients
Soliciting annuity contracts from prospective policyholders
Advising clients on appropriate cover for property, liability, marine, and commercial risks
Liaising with domestic and international insurers and reinsurers
The license falls within the broader ISIC classification for activities auxiliary to financial services, specifically the sub-sector covering insurance and pension funding support. This classification aligns with international standards and reinforces the credibility of businesses operating under it.
Why Dubai and Dubai South Free Zone
Dubai's position as a global trade and logistics hub makes it an ideal base for insurance brokers. The emirate serves as a gateway to markets across the GCC, Africa, South Asia, and beyond. Dubai South Business Hub Free Zone, situated adjacent to Al Maktoum International Airport and the Expo City district, offers a purpose-built environment for financial and professional services firms.
Key advantages of establishing in Dubai South include full foreign ownership, zero personal income tax, zero corporate tax on qualifying free zone income, and the ability to repatriate 100 per cent of profits. The free zone also provides streamlined regulatory processes, reducing administrative burden for new entrants.
The UAE insurance sector is regulated by the Central Bank of the UAE following the merger of supervisory functions from the former Insurance Authority. This regulatory framework aligns with international best practice, providing confidence to both operators and their clients.
Insurance Brokerage in Dubai: Key Facts
Activity Code: 6622.01
License Type: Business License
Category: Financial
Free Zone: Dubai South Business Hub
Foreign Ownership: 100% permitted
UAE Insurance Market Size: Over AED 50 billion in gross written premiums
Corporate Tax Rate (qualifying free zone income): 0%
Typical License Setup Timeline: 2 to 4 weeks
Who This License Suits
The General Insurance Brokerage license is well-suited to a broad range of professionals and organisations, including:
Independent insurance brokers seeking a regulated UAE base
International brokerage firms expanding into the Middle East and Africa
Reinsurance intermediaries looking to access GCC cedants
Financial advisory firms adding insurance distribution to their service offering
Entrepreneurs with backgrounds in underwriting, risk management, or financial planning
Setup Costs and Steps
Setting up under Activity Code 6622.01 at Dubai South Business Hub involves a structured process. Costs vary depending on office configuration, visa requirements, and the number of shareholders, but the process is transparent and efficient.
Typical Steps to Obtain Your License
Choose your business structure: Free zone limited liability company (FZ-LLC) is the most common vehicle for this activity.
Submit your application: Provide passport copies, business plan, and shareholder details to Dubai South Business Hub.
Regulatory approval: Depending on the scope of activity, additional approval from the Central Bank of the UAE may be required for insurance intermediary operations.
Office selection: Choose from flexi-desk, serviced office, or dedicated office space within the free zone.
License issuance: Once approvals are granted and fees are paid, the Business License is issued.
Visa processing: Apply for investor and employee visas as required.
License fees at Dubai South Business Hub are competitive relative to other UAE free zones. Initial setup costs, including registration, license, and a flexi-desk arrangement, typically start from AED 15,000 to AED 25,000, with annual renewal fees applicable thereafter.
Licensing and Compliance Requirements
Insurance brokers operating in the UAE must comply with the regulatory framework administered by the Central Bank of the UAE. Key compliance obligations include:
Registration as a licensed insurance broker with the Central Bank of the UAE
Maintaining minimum paid-up capital as stipulated by regulation
Holding professional indemnity insurance
Employing qualified staff with relevant insurance credentials
Adhering to anti-money laundering (AML) and know-your-customer (KYC) requirements
Submitting periodic financial and activity reports to the regulator
Compliance with these standards not only satisfies legal obligations but also builds trust with clients and counterparties, which is essential in the insurance intermediary business.
Related Activities
Insurance Agency & Brokerage Business License
Insurance Brokers Business License
Insurance Agent Business License
Frequently Asked Questions
