Over the past few years, cryptocurrencies and blockchain technology have seen a steady increase in global adoption. Countries are embracing their use and some of the biggest companies in the private sector now use blockchain technology, accept cryptocurrencies, or have plans to do so.
The United Arab Emirates (UAE) is not left behind in this regard. As a matter of fact, the Emirates is more progressive than most other countries in the world when it comes to blockchain adoption. Subsequently, the UAE government has created mechanisms that make it easy for companies to set up crypto-based businesses in the country.
As a foreigner looking to set up a cryptocurrency business in Dubai, you enjoy institutional support from the government. You also have the backing of the DMCC Crypto Centre. The Centre is in partnership with CV Labs, a Swiss-government backed incubator that supports cryptocurrency unicorns like Ethereum, Polkadot, Cardano, and Tezos.
If you are considering establishing a Dubai branch for your crypto business, you’ll find the key information you need below:
What licenses do you need to operate a cryptocurrency business in Dubai?
To conduct crypto-related business in Dubai, you’ll need to send a request to CV Labs via the DMCC Crypto Centre. If your request is approved and CV Labs permits you to enter their ecosystem, then you can submit an application to the DMCC licensing team. This application will include your business plan and other relevant paperwork.
Your application will be reviewed and upon successful approval, you’ll be able to access the DMCC registration portal and pay your license fees. The final step is to sign a lease agreement with the DMCC Crypto Centre. Depending on your preference, the Centre offers several facilities options, from co-working spaces to full-service offices. The Crypto Centre is located on the 48th floor of the luxurious Almas Tower in the Jumeirah Lakes district.
If you need help putting together the different applications, send a quick message to firstname.lastname@example.org.
Handling visas and immigration for your staff
Finally, you have your licenses and permits to operate a cryptocurrency business in Dubai, and you’ve secured an optimal office space. All that’s left now is to bring in your employees and expatriates from outside the UAE. Thankfully, the Emirates offers 1, 2, or 3-year visas.
If you have a registered business in the UAE and your application fulfills all the requirements laid down by the appropriate authorities, you have a good chance of securing visas for your workers and their families.
Startup-n-Marketing provides assistance with immigration to the UAE, and we’ve helped several businesses scale this hurdle in the past.
In conclusion, if you don’t know your way around, setting up a cryptocurrency business in Dubai may be difficult, stressful, and time-consuming. This is why you need the help of professionals that specialize in business startup and setup in Dubai.
At Startup-n-Marketing, we do not only help you get the permits and licenses you need, we also handle any issues you have with opening corporate bank accounts. Additionally, we help you obtain visas for your employees, hire competent workers in the UAE, and handle all your business setup problems.
For more information about starting a cryptocurrency business in Dubai, please send a message to email@example.com.