We have an app in Xcode from our old developers. We are in the registration process for an apple developer account, but on internet I read it can take a couple of weeks before it gets approved.
Is there a way I can simulate the app (like with TestFlight) without sending the actual code to potential new developers?
You can't distribute the app unless you have it signed/provisioned with needed UDIDs (which requires developer program). You can deploy it on your(s) device(s) using XCode though.