The cryptocurrency market presents a lucrative opportunity in Dubai, especially as the city advances toward digital automation. The Central Bank of the United Arab Emirates is extremely open about allowing crypto trading and the exchange platforms facilitating it. This makes Dubai one of the most sought-after destinations for crypto-related business. If you are considering entering the crypto ecosystem, obtaining a cryptocurrency license in Dubai is necessary.

The process of availing the crypto license is regulated by the Dubai Multi-Sector Commodity Centre (DMCC). However, the Dubai Airport Free Zone Authority (DAFZA) and the Dubai World Tarde Center (DWTC) can also issue cryptocurrency licenses in Dubai.

Types of Crypto Licenses in Dubai –

These are the following crypto licenses available in Dubai-

  • Crypto Asset Trading License.
  • Crypto Asset Exchange License.
  • Crypto Asset Management License.
  • Crypto Asset Wallet Provider License.

How to Avail the Cryptocurrency License in Dubai?

Incorporating a crypto business in Dubai requires you to navigate through the legalities and other associated business challenges. However, a business setup consultant in Dubai can streamline the business journey by removing the redundancies during company incorporation.

The process associated with availing the cryptocurrency license is as follows-

Step 1- Select the appropriate business structure to incorporate your crypto business in Dubai. You can choose from a Limited Liability Company (LLC), Sole Proprietorship, and more.

Step 2 – Choose the jurisdiction in which you wish to operate. Decide between the Dubai mainland and freezones after exploring the drawbacks and benefits.

Step 3 – Select a trade name by following the naming conventions set by the relevant authorities. Make sure it doesn’t violate existing trademarks.

Step 4- Complete your application by submitting the requisite documents such as a business plan, passport copies of shareholders and financial projections among others to the relevant authority.

 

Step 5- The authorities will conduct a detailed investigation, which may include profile checks, financial assessments valid to operate for at least 6 months, and documentation verification among others.

Step 6- Secure an office space and establish a physical presence within Dubai.

Step 7- Pay the required fees and then avail the license.

Step 8 – Open a bank account to handle daily business transactions.

Benefits of Availing the Crypto License in Dubai –

Let us understand a few associated benefits of availing the crypto license in Dubai.

  • Having a cryptocurrency license in Dubai provides credibility, ensuring increased trust and confidence among customers and investors.
  • Increased networking opportunities with financial institutions and high-net-worth individuals.
  • Dubai’s crypto licenses are recognized globally, allowing you to engage with clients worldwide and enhance your brand image.
  • With a strong focus on digital innovation, the government has introduced several policies to support the growth of cryptocurrency.
  • You are guaranteed to have an environment that prioritizes security and aligns with global financial standards.

Get in touch with business consultants in Dubai to ease your company incorporation process. They will navigate through the set regulations while providing you with success strategies. From ensuring lawful compliance to promising a strong business presence, business advisors in Dubai guide you through each step of your venture. Reach out to a business consultancy firm in Dubai to help you achieve your dreams.