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Dubai License for crypto organizations

Obtaining a crypto permit in the UAE can be daunting, but once you get it, it will open many doors for businesses worldwide.

Dubai has huge potential and offers perfect opportunities for crypto investors looking to set up a company in the region. It is a global hub for all sizes of crypto businesses. The UAE government provides an efficient working environment for organizations that have received a Dubai crypto license. Today we want to talk about this in more detail.

A few words about this jurisdiction
The UAE offers a crypto permit under the commercial licensing category. This permit will allow you to trade cryptocurrency-related products and perform other DLT-related activities. As such, this could be a grand entry into the Bitcoin market in Dubai.

Dubai has always been the top choice for international investors looking to start a new business or expand an existing one. It is because of its convenient location and connection to all major countries worldwide. Dubai mainland is a trendy place in this country when starting a business in the Emirates. If you are an aspiring entrepreneur, the Dubai mainland business center should be first on your list as it offers a flexible legal system in line with UAE government policies.

Why should you get a permit
Obtaining a crypto permit in the UAE can be daunting, but once you get it, it will open many doors for businesses worldwide.

The UAE is harnessing the endless possibilities of crypto, blockchain technology, and metaverse technology for enterprises. The country is also looking to expand its status as one of the top economies to encourage more crypto business.

Entrepreneurs are looking for places where they can enjoy multiple benefits combined with strategic government support. Dubai also offers everything you need to be the best place for a crypto business. In addition, with a zero-tax policy, top-notch infrastructure, and 100% company ownership, Dubai has a promising outlook for the cryptocurrency industry.

Obtaining a crypto license in Dubai can be very beneficial for global investors. Moreover, the friendly laws of the country attract several investors looking to start a cryptocurrency business in this country. As the cryptocurrency market in the country is booming at a breakneck pace, this could be the best time to invest in the UAE.

Terms
To open an organization on the mainland in Dubai, one had to comply with a law requiring UAE nationals to own at least 51 percent of the company's shares.

However, this law was changed in June 2021 when the UAE Ministry of Economy amended the CCL to allow investors and entrepreneurs to own 100% ownership in mainland Dubai without a UAE citizen as a shareholder. It clears the way for new companies that now fully own their business structure on the mainland.

Although the mainland company registration process in Dubai included several additional steps, applicants had to fulfill many strict requirements to register for exemption from foreign ownership. For example, eligible equity funds, employment of UAE nationals, etc.

Getting a license

To obtain a license you need to follow some steps:

  1. Select your company name. The first step is to choose a company name for your business. Try to avoid offensive or pre-existing words. Keep your company name in line with regulations set by government agencies
  2. Select your preferred jurisdiction. The next step is choosing an authority to open a cryptocurrency business in Dubai. You can choose between the free zone or the mainland. Both have their own set of rules and benefits.
  3. Apply for a cryptocurrency license. Once you have chosen a company name and jurisdiction, you can apply for a cryptocurrency license. You can do this by using the appropriate authority, or working with an experienced business setup consultant is always best.
  4. Prepare documents. To obtain a cryptocurrency business license in the UAE, you must review all your records and ensure that you comply with all anti-money laundering regulations in the Emirates.

If you want to go through all these steps as quickly and simply as possible, you can contact the specialists in our organization.

How is the process of obtaining in the UAE different
Dubai is a state within a state, so the conditions for obtaining a license here are slightly different compared to the UAE:

  • Start by downloading the license form and submitting it to all relevant registered authorities in the UAE.
  • They need to attach and send the shareholders' KYC papers.
  • Send official company documents to the "DMCC Free Zone" landowners.
  • Ensure you include the entire Cryptocurrency License Application Form and other required documentation.
  • You must also pay the registration fee by the rules.
  • The relevant authority will check the documents, and after approval, they must obtain a cryptocurrency license in Dubai within a few days.

Our experts will help you get a work permit quickly and tell you what you need to pay attention to https://copywritely.com/tools/copywritely/task/2916599.

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