Cryptocurrencies are gaining attraction across the globe. And as the international hub for finance, innovation, and technology, Dubai is rapidly becoming a popular market for cryptocurrency businesses.
Starting a cryptocurrency exchange business in Dubai is a lucrative opportunity. The country’s business-friendly policies and tax benefits significantly boost the appeal of cryptocurrency company formation in Dubai.
To help you, we are listing the simple steps required for cryptocurrency business setup framework in Dubai.
Steps for Cryptocurrency Business Setup in Dubai, UAE:
- Finalize a Company Name: The first step is to choose a catchy name for your cryptocurrency company. This name should not contain any well-known trade names, profane words, or blasphemous phrasings.
- Select the Jurisdiction: Decide which jurisdiction you want to establish your company in. The Dubai Freezones offer you benefits like zero currency restrictions and complete capital and repatriation.
- Apply for the Cryptocurrency License: Once you are set with the mentioned considerations, you can apply for a cryptocurrency license in Dubai via the DMCC.
- Follow all the Compliance Requirements: Cryptocurrency exchange businesses come under the purview of financial trading. Therefore, you must have a correct license and comply with the anti-money laundering regulations.
Requirements to get a Cryptocurrency License in Dubai:
The UAE government has introduced certain eligibility requirements that should be met before you submit the application for a cryptocurrency license in Dubai. You need:
- A commercial license form from the concerned Authority
- Passport copy of all the linked business partners.
- A clean and clear crypto wallet record with no history of fraudulent activities or transactions.
- Ready visibility of all operational expenses and capital resources for at least 6 months of business operations.
- All crypto assets should be incorporated with the UAE Financial Free Zone departments as authorized by the UAE govt.
- A complete business plan must be submitted to the relevant authorities.
How to Obtain a Cryptocurrency Exchange License in Dubai:
- Choose the business consultants with profound knowledge and expertise who can help your company setup process become hassle free.
- Consultants will guide you with required documents for your business.
- Your consultants will process and submit documentation on behalf of shareholders and needed documentation, including passport copies and photographs.
- Choose the tenancy options as per your requirements
- Final step is to pay the crypto license application fees and office rent payment to the respective authority through your designated consultants.
If everything checks out, the authorities will award the cryptocurrency license in Dubai within a few weeks of approval.
Enjoy Seamless Cryptocurrency Business Setup in Dubai with KWSME!
Cryptocurrency offers immense growth and profit potential. However, the process of setting up a cryptocurrency exchange in Dubai involves dealing with several rules, regulations, and requirements, which can be a hassle.
Worry not! KWSME is a leading expert in cryptocurrency company formation in Dubai. We provide end-to-end business setup and consultation services in UAE and manage the entire formation process on your behalf so you can focus on the important task of growing your business.
If you are a new entrepreneur in this crypto-trading business, then our experienced business consulting team is here to make it easy to get a cryptocurrency license in Dubai, UAE. Our professionals have the right amount of knowledge about license-providing companies (BRL), (DED), and (DMCC). They will help you provide the required licensing procedure to finalize your business deals.