Are you considering starting a cryptocurrency business in Dubai but unsure where to start? The optimum moment to do this and grow your company would thus be right now. But which free zone is ideal for starting a cryptocurrency business? To receive the greatest facilities for your business in Dubai, you need to take the DMCC license into account.
The global corporate landscape and digital trends are both being affected by cryptocurrency. The UAE has already begun acting appropriately and when appropriate. Dubai is currently dominating the global virtual market at its peak. To attract more cryptocurrency investors, the government is presenting incredible possibilities and introducing flexible rules and regulations.
With all of the major cryptocurrency companies establishing a presence in the Emirates, the cryptocurrency industry is thriving in Dubai. Many well-known crypto companies rushed to start their business operations in Dubai immediately after the government announced its decision to establish VARA, a dedicated authority that will oversee all crypto-related operations.
The market in Dubai is proud to be among the nations that welcome innovation and cutting-edge technology. The development of Dubai’s inventive start-up environment and the adaptability of the country’s fin-tech industry have ushered in a new age for NFTs.
To boost its economy, Dubai has been actively purchasing significant cryptocurrency companies. Since the introduction of VARA, the Swiss-based cryptocurrency exchange FTX Europe announced in March that it will open regional offices there. Singapore-based company Crypto.com has added an office in the United Arab Emirates to its list. A well-known cryptocurrency exchange in the world, BitOasis, also received a provisional license recently. Go ahead and get a cryptocurrency license in Dubai.
DMCC – A global crypto hub in the UAE
When searching to build a crypto Business setup in Dubai free zones, DMCC (Dubai Multi Commodities Centre) is the ideal free zone. One of the two free zones in Dubai that allows the issuing of crypto licenses is DMCC, which is a prominent free zone.
Numerous alternatives are available for crypto enterprises at the DMCC Crypto Centre, including coworking spaces, SMEs, and a range of incubator and accelerator programs. All sizes and types of cryptocurrency enterprises, including blockchain development companies and others, are guaranteed the best services by the DMCC Crypto Centre.
Benefits of a DMCC license include:
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Complete ownership and capital remittance
You are permitted to own 100% of your business through DMCC. You can also send your home nation 100% of your revenues.
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Large worldwide business network
With over 21,000 enterprises operating in DMCC, the free zone is home to many business specialties.
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Best resources
Innovative platforms, tools, and services are provided for your organization by DMCC’s world-class resources, resulting in increased productivity and ease of use.
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Safe working environment
You can rely on DMCC to provide a safe trade environment that complies with the strictest international regulations.
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Strategic location
The free zone, where DMCC is located, provides flexible connectivity to the main airports.
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Quick and simple setup
The easiest and fastest free zone business setup in Dubai is provided by DMCC. Within 10 days of receiving your application, it issues a trade license.
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No-tax system
You qualify for the no-tax regime if your business is established in the DMCC. It guarantees that corporations pay no corporate income tax.
Office options provided by DMCC
The following is a list of the various office solutions provided by DMCC:
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Flexi desk
In DMCC, flex desks are a common choice for office spaces. A part-time flex desk can help your business grow by giving it a physical address and a polished appearance.
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Service desk
If you have a full-time workforce who may want a dedicated desk, serviced desks can be helpful. By choosing a serviced desk, the company will benefit from a variety of customized services that will increase productivity.
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Serviced offices
Serviced offices in DMCC are completely furnished with a variety of contemporary amenities and are available for immediate occupancy. You can select the office space based on your needs.
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Coworking centre
The DMCC Coworking Centre is a very well-liked coworking space for companies. These are sophisticated offices that will help ensure your business operations run smoothly.
How to start a crypto business in DMCC
Here’s the list of how to start a crypto business in the DMCC:
- Determine your business operations
Select your business ventures and a pertinent business license. DMCC authorities will provide you with an online application form to continue the procedure.
- Application form online submission
The application form and the initial cost must then be submitted. DMCC will investigate trade name registration and compliance approvals.
- Provide the required paperwork
The DMCC will provide provisional approval and bank letter for opening a corporate bank account following the successful submission of the fee and the online application.
- Choose a workspace
The final step is to sign and submit the necessary paperwork for the selected office space. You can launch a business in the free zone if DMCC issues an E-license.
Required document list
Although there is some documentation involved, the application process for establishing a corporation in DMCC Dubai is extremely simple. These are listed below:
- You will need to submit an online pre-approval application form to get started with the process.
- Following that, you must submit a copy of your passport for verification.
- A copy of the UAE residence visa and Emirates ID is to be submitted
- Utility bills or bank statements as proof of address in the residence country.
- Copies of parent company documents.
- Third-party approvals for specific regulated business activities.
How can RadiantBiz assist you with a DMCC license?
RadiantBiz is the best company setup consultant in Dubai when it comes to cryptocurrency business with a DMCC license. To help you start up your business in Dubai without any hassles, RadiantBiz is the perfect partner. We are the top business setup consultants in Dubai, and we guarantee to make setting up a crypto business in the DMCC simpler than ever.
Why is Team RadiantBiz the best business partner? Beginning with basic approvals, business bank account, trade license, visa, and office space, we can help you. We will help you every step of the way as you set up your business in DMCC, regardless of the industry.
FAQs
- How long does it take to launch a business through DMCC?
Your company will be established by DMCC in about 10 days. However, with RadiantBiz’s assistance, you may cut down on setup time because we’ll aid you with everything and speed up the process.
- How can I get a DMCC visa?
Employees and investors in businesses that are registered in the DMCC free zone are eligible to apply for DMCC visas, which are resident visas.
- How long does it take to get a DMCC visa?
DMCC portal will take between three to five business days to process the visa applications.
- What does a DMCC license mean?
You must possess a DMCC business license in order to operate in the DMCC free zone. This will make it easier to bring items into and out of the UAE as well as to buy and sell them there.
Thank you for reading our articles on how to start a business in Dubai. Hope you also enjoyed our blog post on “Is business setup in Dubai easy for non-emiratis?”
