Start your Cryptocurrency Business in Dubai

A cryptocurrency is an asset or token like Bitcoin, Ethereum, Litecoin, and many such digital currencies. These are popular now in the market due to their decentralized regulation without the need of any single bank or government

Investors can perform transactions using these cryptocurrencies available in the market. The profits are comparatively higher than regular stock trading. Also, these are highly volatile and one needs to have a deep understanding of each currency while planning to invest.

Due to the market hype for crypto increasing drastically, the UAE government has decided to legalize the companies that are planning to use crypto as a medium for their transactions.

Crypto License Features

Companies who are planning to start a business in Crypto need to acquire Commercial Crypto License in Dubai.

It lets the License holder perform secure trading that involves – Buying, Monitoring, Investing & selling.

The Regulation of Crypto & Blockchain project in the UAE is performed by the Financial Services Regulatory Authority along with Dubai Financial Services Authority.

Advantages of getting a Cryptocurrency license in Dubai:

The Dubai Multi Commodities Centre (DMCC) Freezone is the first and most favorable place to start your Cryptocurrency business.

Core advantages:

• No need to have any legal partner
• 100% foreign ownership
• 0% corporate tax
• No currency restrictions
• No restrictions on the transfer of income

Documents required for setting up the Crypto Business

• Trade name registration
• List of shareholders
• MOA
• Financial proposal
• Valid passport copy
• Crypto wallet account
• DED approved Commercial license
• Past 6 – 12 months of clean financial records

Cost of License in Dubai

The initial capital requirement for starting a cryptocurrency business in Dubai is AED 50000, which includes Trade name registration, License, and virtual office and varies with several shareholders and employees involved.

How long will it take to get our Cryptocurrency license in Dubai

The process for issuing a license can take anywhere between 30 – 45 days.

How can VR1 Global LLC help us get our Crypto license in Dubai?

We at VR1 Global, first connect with the investors personally and understand their requirements and send the quotation with price comparisons from Freezone to Freezone and guide you to choose the best Freezone area for your business activity.

Once our investors agree on the quotation we will proceed further by collecting the required documents from them. We carefully examine every document provided to us and then submit it to the Government authorities.

If there are any corrections required we will assist our clients to get them corrected and then submit clean documents.

We maintain:

• 100% transparency
• Client-centric decision making
• 24*7 Guidance & assistance

If you are planning to set up your company in UAE, feel free to connect us at +971 508045640 or write us at info@vr1global.com