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DMCC (Dubai Multi Commodities Centre) is a popular free trade zone in the UAE, offering great opportunities for cryptocurrency businesses. Getting a DMCC crypto license is a good chance for crypto businesses to grow in Dubai. Alparanjo helps people get this license with a complete service, ensuring results in just two weeks.

We live in a time where digital technology is everywhere. Every year, people rely more on these technologies, which is changing how we work and handle money. One major change is in the money system. Instead of using cash, more people are turning to online payments and digital currencies. Payment systems like PayPal, Apple Pay, and Stripe make it fast and easy to buy things or send money. Among these options, cryptocurrency stands out. Many people see it as a good investment and want to take advantage of its benefits.

The UAE understands how important cryptocurrency is and fully supports its growth. It has set up special free zones like DMCC in Dubai, where people can legally run crypto businesses. The UAE is a leader in technology, and cryptocurrency plays a big role in its progress. The DMCC is at the forefront of this growth. Thanks to projects like Blockchain Strategy 2021 and the Crypto Centre, DMCC is helping to build Dubai as a top place for cryptocurrency businesses.

With the latest technology and strong government support, DMCC and the UAE offer a great environment for starting and growing crypto businesses. If you’re interested, Alparanjo can help you get a DMCC crypto license and guide you through the process.

The DMCC makes it easy to apply for a crypto license online, allowing you to quickly set up your business. However, since the crypto industry is still new, it’s important to understand all the rules and processes to lower risks and run a successful business.

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Types of DMCC Crypto Licenses

To start a cryptocurrency business in Dubai, you need to get the right crypto license from the DMCC free zone. The Dubai Multi Commodities Center (DMCC) is one of the most trusted free zones for crypto licenses and is known as Dubai's Crypto Hub. There are 12 different types of crypto licenses in this free zone, depending on your company’s business activity.
DMCC crypto licenses are split into two groups:

  • 1. Licenses not regulated by VARA (Virtual Asset Regulatory Authority):

    • Proprietary trading in crypto commodities

    • Distributed Ledger Technology Services

    • NFT E-Marketplace Provider

    • Metaverse Service Provider

    • Proprietary Crypto Mining

  • 2. Licenses regulated by VARA (issued in February 2023):

    • Advisory Services

    • Broker-Dealer Services

    • Custody Services

    • Exchange Services

    • Lending and Borrowing Services

    • Payments and Remittances Services

    • Virtual Asset (VA) Management and Investment Services

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UAE (DMCC) Crypto license

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Advantages of DMCC Crypto
License

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1

Blockchain Services

Blockchain Services DMCC helps companies create and use blockchain solutions to make their work faster, more reliable, and secure. They support businesses in using new blockchain technology to improve their operations.

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2

Crypto Trading

Crypto Trading DMCC offers a safe and regulated space for companies to trade in cryptocurrency. Businesses can access many crypto markets and get legal support for their trading activities.

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3

Tax and Trade Benefits

Companies under DMCC don’t have to pay income or corporate taxes. They can also send profits back to their home country without limits and don’t pay duties on imports or exports. This helps them save money and be more competitive internationally.

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4

100% Foreign Ownership

With a DMCC crypto license, companies can be fully owned by foreign investors without needing a local partner. This gives owners full control of their business.

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5

Low Cost and Fast Setup

Starting a business with a DMCC crypto license is affordable, with costs starting around $20,000 and a quick approval process of 7-10 business days. This makes it easy for companies to start operations quickly.

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Blockchain Security

DMCC ensures that companies using blockchain have strong privacy and security, protecting their data and transactions from risks.

Requirements to Get a DMCC
Crypto License

  • Fill out the license form from the Department of Economic Development in Dubai.
  • Provide certified copies of the founders' passports and utility bills.
  • Share CVs of all shareholders and directors (they must have relevant work experience).
  • Show a clean cryptocurrency wallet history with no suspicious transactions.
  • Make sure your business has enough money to cover expenses for six months.
  • Register all crypto-assets with the Department of Free Financial Zones and get approval from the government.
  • Provide a detailed description of your business plan.
  • Follow KYC (Know Your Customer) and AML (Anti-Money Laundering) rules.
  • Follow anti-money laundering regulations.
  • Protect your clients' financial information.
  • Have a share capital of at least 50,000 AED (€12,750), which must be submitted within six months after registration.
  • Provide information on your company's structure and expected profits.
  • Be ready to provide details on where the company's funds come from if the regulator asks.

Process and Timeline for Getting a
DMCC Crypto License

1. Gathering Documents From The Client To Start The Process  1–2 Weeks

  • Preferred name for the company: Submit the desired company name for approval.

  • Passport copies: Provide passport copies of all shareholders and directors.

  • Utility bills: Submit utility bills from all shareholders and directors.

  • CVs (resumes): Share CVs of shareholders and directors.

  • Business model: Provide a brief business model (1-2 A4 pages).

  • License type: Decide on the right type of license for your business.

  • Application: Submit the application to DMCC (Dubai Multi Commodities Centre).

  • Company registration: Complete the registration process for the company.

  • License approval: Get the license approved by the authorities.

  • Corporate documents: Prepare the necessary corporate documents for the company.

  • Bank/EMI selection: Find suitable banks or electronic money institutions (EMIs) and compare their risk levels.

  • Documents needed: Collect documents like money flow details, source of wealth, key partners, company website, and utility bills.

  • Onboarding: Start the onboarding process with 2-3 crypto-friendly payment institutions.

  • Assistance: Assist the client’s company throughout the entire account opening process.

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UAE (DMCC) Crypto license

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DMCC Crypto Trading Dual License

DMCC free zone companies can get a "dual license" to operate on the mainland. This means they can have both a Department of Economic Development (DED) license for the mainland and a free zone license.

However, the DMCC dual license is not a separate legal company; it's an "affiliate" of the free zone company under the DED trade license. This means the company does not need to register again with the DED. The dual license allows the company to do business on the mainland in addition to its activities in the free zone.

It's important to understand that the DMCC dual license is just permission, not a separate branch. Your company will still be the only one that can bill, hire workers, and run the business.

Having a dual DMCC license helps companies expand on the mainland and has several benefits:

  • Expansion to the Mainland: The dual DMCC license lets 100% foreign companies grow their business in the UAE mainland, creating new opportunities and increasing their market reach.
  • Affordable Setup Costs: Getting a dual DMCC license is usually cost-effective for starting a business on the mainland, making it a smart way to expand.
  • Time Savings: The process for a DMCC dual license is often faster because of pre-registration with the DMCC Free Zone. This reduces paperwork and speeds up the time to start and run a business on the mainland.
  • Location Flexibility: A dual DMCC license allows companies to choose where they want to operate, helping them find the best locations in the UAE mainland to attract customers and partners.

To renew a DMCC crypto license, a cryptocurrency company must pay a renewal fee and provide a signed lease for office space. Starting from the second renewal, your company also needs to submit an annual audit report to the regulators.

The renewal process is easy and cost-effective in the DMCC Free Zone. You can complete it online without needing to be in the UAE.

Any Questions

Frequently Asked Questions

To get a crypto license in Dubai’s DMCC, you need to register a company, create a business plan, gather the required documents, and have at least 50,000 AED in share capital. After you get the license, you must follow DMCC rules and regulations.
It takes about 7 to 10 working days to obtain a cryptocurrency license in DMCC, Dubai.
DMCC is known as a Crypto Hub, which gives it a strong reputation. This helps build trust and attract partners and customers. It also provides special programs and support for crypto businesses, making it easier to start and grow your company. Additionally, DMCC sets clear legal rules to ensure safety in the crypto industry.
The UAE government understands the risks of crypto-assets and requires businesses to maintain high transparency standards and manage risks well. All crypto companies in the UAE must follow laws against money laundering and terrorist financing and meet international standards set by FATF.
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