Today, several large crypto centers have formed in the world that set the direction in developing the crypto industry in their region: New York – North America; London – Europe, Singapore – Asia; and Dubai – Africa and the Middle East. If you want your crypto company to develop in any of the above regions, you should get registered in the relevant jurisdiction. Today, this jurisdiction has many advantages and provides more opportunities for developing the crypto business.
Why Should You Get a Crypto License in Dubai?
Dubai is one of the most powerful economic centers in the world. This region has experienced rapid growth thanks to large oil deposits but was able to save its potential and invest more money in the development of the IT industry. In addition, residents of Africa and the Middle East often trust crypto more than national currencies, which leads to the rapid growth of crypto enthusiasts in this region.
If you are now set to create in Africa and the Middle East, obtaining a DMCC crypto license will be an excellent solution. Many people here are saving money for retirement or educating children in crypto because they consider these currencies more stable. It leads to the fact that crypto companies are developing here at an incredible speed.
In addition, the government of Dubai was able to appreciate the benefits of using the blockchain and began to implement it in their work successfully. With this, government agencies hope to eradicate corruption, increase the efficiency of all sections, and increase transaction security.
In addition, obtaining a license in this jurisdiction has such essential advantages:
- Favorable taxation. There are tax incentives that help avoid income tax and corporation tax. In addition, companies that have obtained a license here may not pay duties on imports of goods and services.
- No need for a local shareholder or investment. Your company may have 100% foreign capital.
- High speed of decision-making. You can get a work permit 7-10 days after applying. You will not find another jurisdiction that makes decisions so quickly.
- Low minimum authorized capital and licensing costs. The minimum authorized capital here is only 50,000 ED (approximately equivalent to 13,600 USD), and obtaining a license costs about 20 thousand dollars.
- There is an opportunity to invest in new technologies based on the blockchain. The authorities of this country are interested in developing IT technologies and providing more opportunities for developing startups based on blockchain.
Many experts say that Dubai is a natural paradise for crypto enthusiasts who are looking to develop the crypto industry and work on creating new blockchain-based technologies. As a result, hundreds of startups from all over the world regularly receive permission to work here.
Basic Requirements for Applicants
This jurisdiction does not impose complex requirements for companies that want to obtain a crypto license here. Among the most important are:
- Company resources must cover all costs within 6 months;
- Compliance with AML/KYC policy;
- Thoughtful business plan;
- All crypto assets must be registered.
In addition, you need to collect a package of documents, which will include all information about the owners, shareholders, and key employees; a well-thought-out business plan that describes your company’s activities in the smallest detail and pays special attention to AML / KYC policy. You also need to prepare statements from your accounts and ensure you have not completed any suspicious transactions.
In general, if none of your employees and shareholders have been involved in fraud or money laundering before and have the necessary knowledge to hold the relevant positions, there will be no problems with licensing. For this jurisdiction, the reputation of your company and the willingness to work honestly and openly are of great importance.
How to Simplify the Process of Obtaining a Work Permit?
Although obtaining a work permit in this jurisdiction is much easier than in many other countries, to correctly collect all the documents you can only do with the help of specialists. Gofaizen&Sherle is a company that helps various crypto organizations get a work permit as soon as possible.
Lawyers will consult, answer all your questions and check how your company meets all the requirements. In addition, they will help you collect all the necessary documents, check the correctness of filling out the paperwork, and represent your interests in government agencies. Thanks to such cooperation, you can obtain a work permit quickly and with minimal financial costs.
The article highlights the compelling advantages of obtaining a DMCC crypto license in Dubai, positioning it as a pivotal hub for the global crypto industry’s development. The introduction underscores the emergence of crypto centers worldwide, highlighting Dubai’s prominence in Africa and the Middle East.
The article articulates how Dubai’s economic prowess and investment in IT have fostered rapid growth, especially since crypto is trusted more than national currencies in this region. This trust has fueled the growth of crypto enthusiasts and companies.
Furthermore, the article highlights the government’s proactive embrace of blockchain technology, aiming to enhance efficiency, security, and transparency. The piece elaborates on the key benefits of a DMCC crypto license, including favorable taxation, full foreign ownership, rapid decision-making, low startup costs, and support for blockchain-based startups. The article’s assertion that Dubai is an ideal ecosystem for crypto enthusiasts resonates with the influx of startups acquiring permits to operate there.
The article then delves into the basic requirements for obtaining a license, stressing financial sufficiency, compliance with AML/KYC policies, a comprehensive business plan, and registration of crypto assets. The emphasis on transparency and honest operation underscores Dubai’s commitment to maintaining a reputable business environment.
To simplify the licensing process, the article introduces Gofaizen&Sherle, a specialized company that offers assistance to crypto organizations seeking work permits. This expert support ensures the proper collection of documents, compliance with regulations, and efficient representation before government agencies, streamlining the application process.
In summation, Dubai’s merits as a crypto business destination are firmly established in this article. The reader is presented with a holistic perspective of the benefits, from Dubai’s economic foundation to its blockchain-driven governance, as well as the assistance offered by Gofaizen&Sherle in navigating the licensing journey. This comprehensive analysis effectively informs potential crypto entrepreneurs of the myriad reasons Dubai stands as a prime choice for establishing and growing their crypto ventures.
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