How to Get a Cryptocurrency License in Dubai, UAE?

UAE is quick to adopt new advances in technology and it is the same with cryptocurrency. The city is a growing hub for entrepreneurs looking to dive into cryptocurrency. To facilitate the development in the country, the government has released the Cryptocurrency License in UAE. Now is the prime time for you to get into the hype with the Cryptocurrency License in Dubai.

Some of the popular cryptocurrencies in the UAE are Bitcoin, Dogecoin, Ethereum, Tether, Polkadot, etc. As Bitcoin is accepted as a transaction currency all around the world, the market capitalization of cryptocurrency in the UAE was approximately USD 265 billion.

Cryptocurrency License in Dubai

Requirements for the Cryptocurrency License in Dubai

For regulation purposes, the government of the UAE has provided some eligibility requirements that you need to meet before you can apply for the cryptocurrency license in UAE.

Here are the requirements for the cryptocurrency license in UAE:

  • Obtain the commercial license form provided by the Department of Economic Development in Dubai.
  • Provide copies of the passports of all the partners in the business.
  • A completely clean crypto wallet record is required with no fraudulent transactions or activities.
  • Ensure that all your operational expenses and capital resources in the business are visible for at least 6 to 12 months of operation.
  • All of your crypto assets need to be incorporated with the “UAE financial free zone” departments that are approved by the government.
  • For the final step, you will be required to provide your business plan with the cryptocurrency license in Dubai.

Steps to Obtain the Cryptocurrency License in Dubai

The process of obtaining the cryptocurrency license in Dubai is comparatively easier than other types of licenses you can find here. As mentioned earlier, for regulatory reasons and to prevent fraudulent activities, these steps are necessary.

If these steps seem complicated or you have more important matters in your business to handle, you can always opt for help from our expert business consultants who will procure the cryptocurrency license for you. They have years of experience setting up various businesses in the UAE. Contact us today for your own cryptocurrency license in Dubai.

However, if you want to go for the cryptocurrency license registration process by yourself. Here are the steps you need to follow in order to obtain the cryptocurrency license in UAE:

  • Download and fill-up the cryptocurrency license form from the respective authority where you want to set up your company.
  • Attach and submit the filled-up cryptocurrency license form with the company’s and all the shareholders’ names.
  • Submit the required documents to the respective authority where you are setting up your company.
  • Complete the required payment to the respective authority that will be providing a cryptocurrency license to you.
  • If everything checks out with the application form and official company documents, then they will provide the cryptocurrency license within a week of the approval.

Where to Get the Cryptocurrency License in Dubai

Before starting a cryptocurrency business here, you need to get a cryptocurrency license in UAE. Currently, three of the free trade zones are issuing cryptocurrency licenses in the UAE. They are:

Dubai Multi-Commodities Centre (DMCC):

The DMCC was very open to accepting the addition of cryptocurrency. They provide cryptocurrency licenses for entrepreneurs and businessmen in Dubai. People from all around the world come to DMCC to get their cryptocurrency license in UAE. The DMCC cryptocurrency license in Dubai allows you to perform business activities like providing crypto-related services, store cryptocurrency, trade, management, develop cryptocurrency-related software, etc. You can also provide advisory services and consultation with the cryptocurrency license in Dubai.

DMCC has opened a new crypto center and plans to be the center for all of Dubai’s blockchain-related activities. Dubai is already considered the biggest global leader in technology and the addition of crypto and blockchain only bolstered their position. The DMCC cryptocurrency license plays a crucial part in this achievement.

Dubai Airport Free Zone Authority (DAFZA):

Dubai Airport Free Zone Authority, or DAFZA for short, is another free of like DMCC in Dubai who accepted the addition of crypto. They signed an agreement with the SCA that helped them support entrepreneurs and businessmen who wanted to perform business activities related to crypto. They facilitated businesses within the area with the cryptocurrency license in Dubai.

Companies with the cryptocurrency license provided by the DAFZA can perform business activities with their crypto assets. They can provide services to global investors coming to Dubai from all over the world. Thanks to the strong regulatory framework of the DAFZA, companies within their boundaries can easily perform their business activities. They are moving forward with the aim to increase the acceptance and growth of cryptocurrencies like Bitcoin, Ethereum, Dogecoin, etc.

Abu Dhabi Global Market (ADGM):

The Abu Dhabi Global Market (ADGM) Free Zone allows crypto assets that are regulated by the Financial Services Regulatory Authority (FSRA). It is the regulatory body that governs all crypto-related assets in the UAE.

It is currently the only legal body that has an extensive regulatory framework for cryptocurrency licenses in UAE. FRSA in combination with ADGM has published a guideline about how to use the cryptocurrency license in the UAE for the betterment of businesses around the country.

Cryptocurrency License

Advantages of the Cryptocurrency License in Dubai

Here are the advantages of the cryptocurrency license in Dubai:

  • Stand out from the crowd with the cryptocurrency license. Currently, very few businesses use cryptocurrency as a mode of the transaction despite it being so popular in the UAE.

  • It is very cost-effective compared to the other business trade licenses in the UAE. You can way more in return thanks to the cryptocurrency license in UAE.

  • The blockchain technology used by cryptocurrencies is very secure. You can uphold your privacy with the cryptocurrency license in Dubai.

  • Cryptocurrencies are accepted internationally. Transactions made with cryptocurrency are instant with zero downtime.

Success with Cryptocurrency License in Dubai

Entrepreneurs all over the world are finding success with cryptocurrency. The same can be said with the cryptocurrency license in Dubai. Businessman Dariush Soudi found success in Dubai thanks to the cryptocurrency license. He launched a crypto trading platform in 2020. Currently, the value of the cryptocurrency market is topping at USD 2 trillion.

How can Company Setup Consultants help you?

Company Setup Consultants consists of a team of professionals who are located in Dubai, UAE. We offer our services at an affordable rate so that entrepreneurs can easily do their business in Dubai and the rest of the emirates. Besides providing licensing facilities, we also provide other services that ensure the day-to-day operation of your business is impeccable. Our one true purpose is to fulfill our client’s needs and achieve customer satisfaction.

Here are how we can help you:

  • Setup your company in the UAE.
  • Get the business trade license for your company.
  • Get the cryptocurrency license in UAE for you.
  • Open your corporate bank account.
  • Advice you on any legal issues with your business.
  • Help you with the day-to-day operation of your business.

Why Choose Company Setup Consultants?

Here are our strengths:

    • We are cost-effective.
    • We are reliable.
    • We are efficient.
    • We have extensive knowledge about the market in UAE.

We have years of experience setting up companies in the UAE.

Here are the reasons why you should choose Company Setup Consultants:

  • Company Setup Consultants can easily procure the cryptocurrency license in Dubai for new entrepreneurs and seasoned businessmen alike.
  • We have years of experience dealing with the licensing authorities in the UAE including the DED, BRL, and DMCC.
  • We provide real-time updates to our clients about the license registration procedures.
  • We have the best translators who can help finalize your business deals and prepare your documents in Arabic, which is the local language.

If you are looking for a cryptocurrency license in UAE, then look no further. Contact us today and get your very own cryptocurrency license. With our services, you can hit the ground running.

Frequently Asked Questions on Cryptocurrency License in Dubai

Is cryptocurrency legal in Dubai?

Yes, you can use crypto in your business with the help of a cryptocurrency license in Dubai. You can accept transactions, trade cryptocurrencies, advise others, broker cryptocurrencies, etc. with the cryptocurrency license in UAE.

How can I open a cryptocurrency company in Dubai?

You can open a cryptocurrency company in Dubai with a cryptocurrency license. The government has released this license to regulate crypto-related activities in the country. You can get the cryptocurrency license in Dubai with the help of our experienced Company Setup consultants in Dubai.

Is trading cryptocurrency legal in UAE?

Yes, trading cryptocurrencies like Bitcoin, Dogecoin, Ethereum, etc. is legal in the UAE. You need the cryptocurrency license in UAE to trade cryptocurrencies here.

How do you get a cryptocurrency license?

You can get a cryptocurrency license in UAE from the respective authorities of where you are setting up your company. You can get your own cryptocurrency license in Dubai with the help of Company Setup Consultants.

How safe is cryptocurrency?

Popular cryptocurrencies like Bitcoin, Dogecoin, Ethereum, etc. are safe thanks to the solid blockchain technology they run on. The UAE regulates all the cryptocurrencies in UAE with the cryptocurrency license, so they are safe to use in the country.

How do I invest in Cryptocurrency?

You can invest in cryptocurrency from a cryptocurrency broker in the UAE. If you want to perform any business activities with the crypto, you need a cryptocurrency license in UAE.