Dubai DMCC Cryptocurrency License Overview and requirements

Uae residents and non-residents are required to obtain a special cryptocurrency license for any commercial activity in DMCC's territory. It should be noted that there are two different types of licenses.

Under the license, you may offer the following activities:

*7229-99 Distributed Ledger Technical Services.

The activity includes the provision of database management solutions and ancillary services based on distributed ledger technology, such as blockchain. Companies engaged in these activities shall not trade or establish exchanges in currencies or cryptocurrencies/commodities, or provide any financial activity services, broking or payment processing.

*6599-92 Proprietary trading in crypto commodities

This activity involves buying and selling (proprietary trading) encrypted goods developed on distributed ledger technology applications. This activity does not include acting as an exchange, providing brokerage services, financial services, banking services, payment processing or storage services.

Procedures to be followed for obtaining a cryptocurrency license in Dubai

1. Submit cryptocurrency license applications to their respective free zones

2. Submit the required application documents

3. Business plan and proof of capital stock for successful operation of the company

4. Select the appropriate office space according to the demand and prepare the lease agreement

5. Pay the fees required for encryption license and office rental

After obtaining approval from the respective free zone authorities, cryptocurrency trading licenses will be issued to companies. Investors can then apply for a UAE residence visa and continue to open corporate bank accounts in the UAE.

Dubai DMCC Cryptocurrency License requirements

· There is no requirement for directors and shareholders to reside in Dubai

· Capital stock: $15,000

· A detailed company business plan is required

Documents required for registration and license of Dubai Company:

1. Director/shareholder passport

2. Address certificate of directors/shareholders

3. Establishment of directors/shareholders

4. Company business plan

5. A statement of the company's business scope

6. The company's anti-money laundering KYC compliance documents

7. Good company certification

When a Dubai company is registered and licensed:

Application period: 2-3 months

With more than 10 years of experience in the field of application, we work closely with local authorities, law firms and other legal entities to ensure that your company meets regulatory requirements and can obtain official licenses. Whether your goal is to become a market maker, retail financial adviser, interactive broker, or broker, we have a solution for you. Focus on the United States, Canada, Singapore, Hong Kong, Cayman, Belize, Seychelles, Malaysia, Belize and many other countries, welcome to consult.