Crypto investors think of the United Arab Emirates as their next business venture seeing the many opportunities being introduced for the crypto industry. Free Zones are also playing their best parts in inviting investors from around the globe. DMCC (Dubai Multi Commodities Centre) free zone has evolved as a destination for blockchain and cryptocurrency businesses providing a supportive and controlled business environment for various cryptocurrency investors.
Jitendra Business Consultants helps you seamlessly set up your business anywhere in the UAE. Our expert consultants simplify the various registration and licensing processes for you and obtain different approvals from authorities. Your only job is to focus on business operations as our experts will effectively manage the rest.
Why Crypto Investors Should Choose DMCC?
DMCC provides the following incentives and opportunities to crypto investors;
- DMCC’s ideal location gives you access to various important global markets including African, European, and Asian business markets.
- Unlike most countries, regulatory frameworks for cryptocurrency usage, storage, and trading are very clear and controlled in the DMCC.
- World class infrastructure in DMCC gives various facilities to crypto investors such as storage security and data centers.
- The crypto industry is highly encouraged in DMCC and there has been built a community of cryptocurrency entrepreneurs, investors and enthusiasts with whom new crypto traders can interact.
- Zero per cent corporation and personal income tax is also another incentive for crypto investors.
- Licenses can be obtained easily depending on the type of business activity you are performing.
Steps to Set Up a Crypto Business in DMCC
Go through the following steps for a successful business setup in DMCC;
- Choose your own crypto business activity.
- Register your business with the DMCC free zone.
- Reach out to licensing authorities and obtain the required license for the crypto business.
- Apply for opening a bank account in any bank in DMCC.
- Make sure you comply with AML (Anti Money Laundering), CFT (Combating Financing of Terrorism), and KYC (Know Your Customer) regulations as well as DMCC crypto regulations.
What is included in crypto activities?
Crypto activities include, but are not limited to, the following;
- Crypto Exchange: You can open a business that exchanges cryptocurrencies.
- Blockchain Development: You can open a business that develops blockchain solutions.
- Crypto Storage: You can open a business where others can store their cryptocurrencies.
- ICOs (Initial Coin Offerings): You can open a business that manages ICOs.
- Crypto Trading: You can trade, sell and buy cryptocurrency by being an independent crypto trader.
Best Practices for Crypto Businesses in DMCC
The following best practices for crypto business in DMCC are suggested;
- Obtain licenses for every business activity you are performing.
- Look for talented employees for your business.
- Maintain a credible relationship with partners and investors.
- Make sure you comply with AML, CFT and KYC laws in UAE.
- Conduct training sessions and train your employees about crypto regulations in the country.
Benefits of Hiring a Business Consultant for Business Startup
- Business consultants help you navigate market trends. Proper understanding of the market trends will take your business in the direction of growth.
- They can teach you better strategies to fit in the local market. By identifying competitors and potential customers, you can do better marketing.
- They help you obtain licenses and approvals from local authorities otherwise as a new business in the market you can easily waste your important time and resources in these processes.
- They help you save operational costs by offering you one price solutions for various functions.
- They help you understand local laws and how to comply with them. Legal compliance is one the most important thing that needs careful administration.
- By saving you from penalties and noncompliance, business consultants help you build reputation and credibility among your customers and investors.
Why Choose Jitendra Business Consultants?
At JBC, we have seasoned and qualified consultants dedicated to helping investors and entrepreneurs open their businesses smoothly in the UAE. Our top professionals know all the legal processes and quick ways to get through them. They will also help you comply with all local regulations while you are busy setting up your business activities. Whether on the mainland or in free zones, open your crypto business anywhere with JBC.
