Cryptocurrency Trade License In Dubai - UAE
If you are looking to get a Cryptocurrency Trade or Cryptocurrency Exchange License in Dubai – UAE, we can offer you its legal, technical and business expertise and consulting support. Trusted Business Setup Experts in Dubai – UAE since 2009.
Why to Get Cryptocurrency Trade License in the UAE?
Investors continue to look for diverse options to increase their wealth. THE CRYPTO CURRENCY business has obtained a rising popularity and is expected to grow in coming years.
UAE is considered one of the stable and emerging economies in the world for Cryptocurrency Trade. Several Free Zones such as MEYDAN (easiest, quick, affordable), DMCC, DIFC, DAFZA, are reputative business zones that have established themselves for conducting crypto-related business activities.
Activities such as, database management, self-proprietary investments in crypto assets, cryptocurrency consultancy, and data mining can be conducted.
What is Cryptocurrency?
A cryptocurrency is a digital currency that works as a medium of exchange, which does not rely on any central authority, such as a government or bank, to uphold or maintain it.
Popular CryptoCurrencies
Benefits of UAE Crypto Trade License
Adding crypto currency as a medium of transaction can become a stand out feature as compared to competitors.
Transactions happen via extremely secure blockchain technology.
Make transactions from anywhere in the world quickly.
Taxation is 0% on income up to 50 years of business activity.
No restriction on foreign employees in the company.
Services that Can Be Offered at UAE Cryptocurrency Trade License
- Foreign exchange dealing
- Remitting or transmitting funds
- Issuing or redeeming money order or similar negotiable instruments
- Dealing in virtual currency
- Crowdfunding platform services
Requirements To Obtain a Cryptocurrency License In the UAE
Obtain and fill out the license form from the Department of Economic Development (DED) in Dubai.
Provide the passports certified copies of the founders.
Provide a clean cryptocurrency wallet record.
- Ensure capital resource of the business cover all expenses for six to twelve months.
Register all crypto-assets with the Department of Free Financial Zones and get government approval.
Make a detailed business plan.
Comply with KYC and AML policies and anti-money laundering regulations.
Ensure the protection of clients’ financial information.
Have a share capital of AED 50,000.
Process to Obtain Cryptocurrency License in Dubai - UAE
Select a business name following all the naming convention guidelines established by the government.
In the UAE, Crypto related ventures are supervised by the virtual asset regulatory authority (VARA).
You can get a crypto license in UAE in the following zones:
- MEYDAN Free Zone (Easiest & Quick Process)
- Dubai Multi Commodities Center (DMCC)
- Dubai Airport Free Zone Authority (DAFZA)
- Abu Dhabi Global Markets (ADGM)
- Dubai World Trade Center (DWTC)
The Financial Services Regulatory Authority (FSRA), Securities and Commodities Authority (SCA), and Dubai Financial Services Authority (DFSA) regulate cryptocurrency & blockchain assignments in the UAE.
Compliance with anti-money laundering and anti-terrorist financing laws is required, as well as KYC and AML monitoring requirements.
How Much Will It Cost?
The cost of a Crypto License in Meydan Free Zone, Dubai, UAE starts from AED 12,500/- only. However, to find the exact cost for your specific Cryptocurrency Company Setup in the UAE, you will need to contact one of our experts.
This Registration Process Sounds Very Tough & Complicated, Right?
Our experts will take all the headaches so you do not face any complexity in the process of setting up a Cryptocurrency Business in the UAE. We offer complete assistance to our clients to ensure they don’t face any difficulty in any step of their venture.