How Australian Expats in Dubai Can Secure Regulated Financial Advice
Understanding the Licensing Obligations from the Dubai Financial Services Unified Guidebook (2025)
As thousands of Australians relocate to the UAE, Dubai continues to stand out for its tax-friendly environment, professional opportunities, and quality of life. However, when it comes to regulated financial advice for Australian expats in Dubai, it’s not enough to rely on a familiar face from home or someone licensed abroad.
According to the Dubai Financial Services Unified Guidebook (2025), financial services offered to residents of Dubai — including expatriates — must be regulated by local authorities, even if those services relate to foreign products like Australian superannuation, managed funds, or real estate investments.
Why a Foreign License Is Not Enough
Many Australian financial advisers, mortgage brokers, and investment consultants fly in and out of Dubai to meet clients — often without understanding (or disclosing) that they are breaching UAE law by giving advice without a local license.
The Guidebook clearly states:
“The conduct of regulated financial services is prohibited without obtaining the appropriate financial licence from the relevant regulatory authority, unless an exemption applies.”
Simply put, foreign licensing does not override the legal obligation to be regulated in the UAE. Australian expats who accept such advice may unknowingly engage in transactions that lack legal enforceability or investor protection in Dubai.
Key Regulatory Bodies to Know for Securing Regulated Financial Advice in Dubai
The Guidebook outlines four major regulators responsible for financial service licensing:
- DFSA – Dubai Financial Services Authority
- Regulates financial services in the Dubai International Financial Centre (DIFC).
- Covers activities such as investment advice, insurance, custody, and collective investment management.
- SCA – Securities and Commodities Authority
- Regulates investment and securities-related activities in Mainland Dubai.
- Issues licenses for financial advisors, brokers, portfolio managers, and fund managers.
- Central Bank of the UAE
- Oversees mortgage brokers, banks, and insurance intermediaries across the UAE.
- All mortgage advice offered in Dubai, even if related to an Australian property, requires licensing by the Central Bank.
- RERA – Real Estate Regulatory Agency
- Operates under the Dubai Land Department.
- Mortgage brokers must also be registered with RERA to provide compliant property finance advice.
Key Point: “Any financial services company incorporated in Dubai would fall under the jurisdiction of SCA, the Central Bank or VARA, subject to the nature of the regulated activity.”
The “Fly-In, Fly-Out” Risk
Australian advisers who operate in Dubai without proper registration are commonly in breach of UAE law. Examples include:
- Giving superannuation or SMSF advice under an Australian license with no DFSA/SCA approval.
- Arranging mortgages through an Australian lender without a Central Bank or RERA license.
- Offering investment seminars in Dubai hotels or cafes without notifying UAE regulators.
- “FinInfluencers” i.e. individuals posting finance related content on social media and digital platforms must be registered with the SCA.
While the intentions may be good, the consequences can be severe:
- No local recourse for clients if products fail or losses occur.
- Fines, bans, or deportation for unlicensed practitioners.
- Void contracts, since they were arranged by an unauthorised party.
Who Regulates What?
| Type of Advice/Service | Dubai Regulator | Lincese Required |
| Financial Planning | DFSA (DIFC), SCA | Category 4/Financial Advice |
| Investment Advice | DFSA, SCA | Managing Assets |
| Mortgage Brokering | Central Bank + RRA | Broker License Registration |
| Property Finance | RERA | Mortgage Advisory License |
| Insurance Intermediaries | Central Bank | Insurance Broker License |
Licensing Requirements: What the Guidebook Says
To obtain a financial services license, an entity must:
- Establish a local entity or foreign branch.
- Appoint qualified UAE-based staff for senior roles.
- Secure physical office space in the chosen jurisdiction.
- Meet minimum capital and insurance thresholds.
- Pass a fit-and-proper test for key individuals.
- Implement compliance frameworks (AML/CTF, client risk, governance).
These are not optional. The Guidebook warns:
“Each jurisdiction offers distinct regulatory and operational advantages that must be considered… [but] submitting vague or overly ambitious business plans without substantiating them… may raise concerns about feasibility.”
What to Ask Before Engaging a Financial Professional
- Are you licensed with the DFSA, SCA, Central Bank or RERA?
→ Ask for their license number and look it up on the regulator’s website. - Do you have a UAE-based office?
→ Virtual operators may not meet licensing requirements. - Are your key personnel residents of the UAE as required?
→ Licensing often requires executives and compliance officers to reside locally. - Are your products registered and compliant under UAE law?
→ Even “offshore” investments must be sold through compliant structures.
Real-World Scenarios for Licensed Financial Advice Dubai
❌ Illegally Providing Mortgage Advice
A Perth-based broker advises Dubai expats on Australian loans during a seminar at a hotel in Dubai. Despite being ASIC-licensed, they are in breach of UAE laws unless registered with both RERA and the Central Bank.
✅ Licensed Financial Advisory
A firm licensed under DFSA Category 4 operating from the DIFC helps Australian expats structure offshore investments, adhering to DFSA regulations. This advice is legal and enforceable.
Summary: Protect Yourself and Stay Compliant
Australian expats in Dubai must be cautious when receiving financial, investment, or mortgage advice. If the firm or individual is not registered with a UAE regulatory authority, the service is not legally permitted, regardless of foreign qualifications.
As the Dubai Financial Services Unified Guidebook emphasises:
“Misalignment with business activities and failing to understand licensing obligations are among the most common mistakes when entering Dubai’s financial services sector.”
Final Thoughts on Licensed Financial Advice in Dubai
Whether you’re planning for retirement, investing in Australia, or exploring property financing, make it a priority to verify that your advisor holds proper licensing and complies with regulations in Dubai. It’s not just good practice — it’s the law!
Contact Us
Contact us today! At Atlas Wealth Group, we specialise in supporting Australian expats with cross-border tax planning, superannuation, and wealth management. We are the only Australian financial advice firm that holds both an Australian Financial Services Licence from ASIC and a licence from the Dubai Financial Services Authority (DFSA).
Learn more about Atlas Wealth Group in the UAE.
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