How and where to apply?
A commercial license is required for a Cryptocurrency Business License in Dubai to be legal. The UAE’s Crypto license will oversee all cryptocurrency trading, monitoring, and purchasing. By following the correct procedure to apply and obtain Cryptocurrency Business License in Dubai.
The following free trade zones in the United Arab Emirates currently issue cryptocurrency licenses:
- DMCC – Dubai Multi-Commodities Centre
- DAFZA – Dubai Airport Free Zone Authority
- ADGM – Abu Dhabi Global Market
- Sharjah Research Technology & Innovation
Procedure to obtain a license to obtain Cryptocurrency Business License in Dubai
- Submit an application for a cryptocurrency license to the appropriate Free Zones.
- The shareholders’ passports, photographs, and other necessary paperwork must be submitted.
- Official documents from the “DMCC free zone” owners should be sent to them.
- Ensure that all required documents, including the cryptocurrency license application form, are included. Application fees must be paid in full.
- Preparation of a lease agreement and selection of appropriate office space.
- Within a week of approval, they will issue the cryptocurrency license to those who meet the requirements of the application form and official company documentation.
Requirements and eligibility to get Cryptocurrency Business License in Dubai
- Financial assets in the “UAE free zone” should include all crypto assets.
- A minimum of six to twelve months’ worth of operating expenses and capital resources should be readily apparent.
- Transactional fraud is prohibited, and applicants must have a spotless criminal history before being considered.
- In the crypto wallet, make sure your data is protected.
- Include a copy of each business partner’s current passport.
- Obtain a DED-issued commercial license form.
- Only a select few cryptocurrencies are permitted. For example, the market capitalization, traceability, and security of a particular crypto asset are taken into consideration when making a decision.
What is the cost of a license?
It will cost approximately AED 127416.54