Offshore FX broker needs a permitted acquiring structure in the UAE
Terms
Payment methods
Geography
Details
Requirements
- Lawful structure: MoR, agent or acquiring
- MCC 6211
- Confirmed eligibility for the chosen model
An offshore FX broker is looking for UAE acquiring for FX after onboarding was restricted because of its jurisdiction. It needs a lawful structure through which it can accept client payments.
Models under consideration - Merchant of Record (MoR), where the provider acts as the seller to the customer; - a payment-agent model; - direct acquiring.
The merchant category is MCC 6211, brokerage and investment services.
An important caveat No compliance workaround is intended. The broker's eligibility for each model — MoR, agent or direct acquiring — must be legally confirmed before onboarding.
Geography The United Arab Emirates.
What is known No volumes are given and the broker's licence is not disclosed. A provider should ask straight away for registration and permission documents, plus a description of where clients come from.
Who should respond UAE acquirers and PSPs that work with investment firms, plus MoR and agent-model providers familiar with local regulatory expectations. Explain the conditions under which you would onboard a broker with an offshore licence.
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