What is the UAE's Finfluencer licence and how does it work

A finfluencer is a social media personality who provides financial advice or discusses money and investments online. While many people trust these digital opinion leaders and follow their recommendations, this can be particularly risky when it comes to financial matters. Following incorrect advice from someone you don't personally know could result in significant financial losses — potentially ranging from hundreds to millions of dirhams.

To maintain its reputation as a secure investment and business destination, the UAE has implemented new regulations to protect investors from potential risks. If you plan to create finance-related content with tips and advice in the UAE, you'll need to obtain a special license issued by the Securities and Commodities Authority (SCA).

Influencers who talk about finance need a new license, no matter what kind of content they post or which platform they use, for example:

• You make videos, blog posts, or social media content giving financial advice or reviews for followers in the UAE.
• You discuss or promote financial products like investment funds, cryptocurrencies, loans, or savings apps.
• You create content that is sponsored by brands or viewers and focuses on financial matters.

So, regular influencers who just talk about lifestyle, food or travel don't need a finfluencer license. And if you give personal finance advice to friends and family in private chats, you don't need a new license either.

Obtaining a freelancer's license is a common requirement for self-employed professionals in the UAE. While the process may appear straightforward, there are numerous important details to consider during your application. For first-time freelancers in the UAE, we strongly recommend consulting with experienced professionals (like us😎) to ensure you complete the process correctly and select the most advantageous option for your specific situation.

The government wants to formalize and regulate digital finance and create a clear framework for people who provide investment analysis, advice, and other finance information online. It can be really handy for some reasons:

By making a license mandatory, the UAE wants to:

• Reduce dangerous or fake financial advice online.
• Make sure that content creators are held accountable for the information they share.
• Increase the public's confidence in online financial discussions
• Make the UAE’s digital economy and financial sector safer for everyone.

This is part of the UAE's overall strategy to lead in innovation and keep people safe. As digital opportunities grow, financial literacy and safe investing are becoming more and more important.

To obtain a new license you will need to register with the SCA online or by phone 800722823 (a free call). If you want to make sure you get all the paperwork right, or if you just want to save some time, why not give us a call? We can help you get a new license or any other permits you might need.