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The IFZA free zone is a great chance to quickly and profitably get a crypto license without needing share capital. Alparanjo offers professional help for obtaining the IFZA crypto license with a complete solution and guaranteed results in just two weeks.

If you want to strengthen your presence in the UAE market, consider registering your cryptocurrency company in the IFZA. The International Free Zone Authority (IFZA) was established in 2018 as part of the free zones in the Emirates. This zone lets entrepreneurs register companies, branches, and subsidiaries. At first, it only issued licenses for trade, industry, and services, but after partnering with Dubai Silicon Oasis Authority, it expanded to include the cryptocurrency sector.

IFZA works closely with other free zones in Dubai and around the world, creating a supportive environment for businesses in the crypto field. This cooperation allows entrepreneurs to move easily between zones and take advantage of different opportunities to grow their businesses.

With an IFZA crypto license, companies can legally conduct business using their crypto assets and handle cryptocurrency transactions, including exchanges and storage. To get a crypto license, businesses must meet specific requirements and follow IFZA's registration rules, including having a business plan, financial guarantees, and complying with KYC and AML policies. However, having this license offers many benefits, like favorable taxes and good growth opportunities

Advantages of the IFZA
Crypto License

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1

Economic Benefits

IFZA Dubai offers affordable options to start your business, helping you get the best value for your money. They provide competitive prices for services and special support for entrepreneurs, which can lower your costs and increase your profits.

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Trade and Tax Benefits

Companies in IFZA enjoy 0% tax on profits and dividends, and individuals don’t pay taxes on income from international activities. There are no restrictions on currency, and no import or export taxes. You can also take 100% of your profits and capital out of the country, allowing you to manage your money easily.

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Quick Business Start-Up

Starting a company with IFZA Dubai is fast and straightforward, with no complicated steps or extra requirements. This saves you time and helps you focus on growing your business.

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Remote Management

You don’t need to be physically present or have a local office to set up a company in IFZA Dubai. This gives you the flexibility to run your business from anywhere in the world. You can use a virtual office or shared workspace, saving on office rental costs.

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Expanding Borders

IFZA allows you to operate outside the UAE, giving you access to international markets and the chance to work with businesses in other free zones and the UAE mainland.

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Full Ownership

You own 100% of your company, which gives you complete control and flexibility in making decisions. You can shape your business according to your goals and adapt to changes in the market without outside interference.

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Easy Bank Account Opening

IFZA simplifies the process for your company to open a bank account, making it easy to handle financial transactions.

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UAE (IFZA) Crypto license

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Requirements to Get an IFZA
Crypto License

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  • Fill out the license form from the Dubai Department of Economic Development.
  • Submit certified copies of the founders' passports and utility bills.
  • Provide resumes of all shareholders and directors.
  • Show a clean record of your cryptocurrency wallet, with no suspicious transactions.
  • Describe your business model or plan.
  • Follow Know Your Customer (KYC) and Anti-Money Laundering (AML) rules.
  • Protect clients' financial information.
  • Share information about your company's structure and expected profits.
  • Provide details about the source of funds if the regulator asks.

Process and Timeline for Getting an IFZA
Crypto License

1. Collecting Preliminary Documents (3 Days)  3 Days

What You Need:

  • Your preferred company name

  • Passport copies of all shareholders and directors

  • Utility bills from all shareholders and directors

  • CVs (resumes) of shareholders and directors

  • A brief business model description (1-2 A4 pages)

What Happens:

  • Decide on the right type of license

  • Submit your application to IFZA

  • Register your company

  • Get your license approved

  • Prepare corporate documents

What You Need to Do:

  • Review suitable banks or Electronic Money Institutions (EMIs) based on their risk policies compared to your business's risk level.

  • Collect documents needed to start the account opening process, including:

    • Flow of funds

    • Source of wealth

    • Purpose for opening the account

    • Key partners

    • Company website

    • Utility bill, etc.

  • Start the account opening process with 2-3 crypto-friendly payment institutions.

  • Get guidance throughout the entire process of opening the account.

For Individuals:

  • A copy of your passport

  • Passport-sized photos of each shareholder

  • If you live in the UAE, include a copy of your Emirates ID.

  • A copy of your visa or proof of entry into the UAE.

For Companies (Notarized Documents Required):

  • A board resolution confirming your company's intention to become a shareholder in IFZA Dubai.

  • A copy of your company’s memorandum and articles of association outlining its legal structure and operating rules.

  • A copy of your commercial license confirming your right to conduct business.

  • A copy of your company registration certificate proving its legal existence.

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UAE (IFZA) Crypto license

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Taxes in IFZA Free Zone

IFZA Dubai has great tax benefits: there is 0% tax on profits and dividends for companies, and individuals don’t pay taxes on income from international activities. You can also take all your profits and capital out of the country, there are no currency restrictions, and no import or export taxes. This makes it a good place for businesses and helps manage money easily.

However, as of June 1, 2023, according to the Ministry of Finance and the Federal Tax Administration, the following UAE corporate tax rates apply to businesses in the free zone:

  • 0% on qualifying income

  • 9% on taxable income over AED 375,000

This means companies will only pay 9% tax on the part of their taxable income that is more than AED 375,000. Income below this amount is not taxed.

Under the UAE Corporate Tax Law, the taxable income depends on whether the taxpayer is a "resident" or a "non-resident":

  • Residents pay tax on income from both UAE and foreign sources based on where they live.

  • Non-residents pay tax only on income from sources within the UAE and not on foreign income.

New laws allow some income paid to non-residents to be exempt from UAE tax, meaning a 0% tax rate applies. Because of this, neither UAE businesses nor foreign income recipients need to register or file for income tax.

It’s also important to know that income tax does not apply to transactions between UAE resident individuals. So, for business done between residents, income tax won’t be considered.

Reporting

All taxable persons, including those in the free zone, must register for corporate tax and get a unique corporate tax registration number. In some cases, the Federal IRS may ask certain exempt individuals to register as well.

Taxable individuals must file a corporate tax return for each tax period within 9 months after the end of that period. This deadline is usually the same as the deadline for any corporate tax that applies to the period in question.

There are many details and clarifications in the law. To find out if your company falls under the new UAE tax rules, it’s a good idea to consult Alparanjo.

Any Questions

Frequently Asked Questions

The initial fee for an IFZA crypto license is 11,500 dirhams. The total cost depends on the package you choose. For example, a visa-free package costs 36,750 AED (10,050 USD), while a visa-eligible package costs 93,850 AED (25,600 USD).
An IFZA crypto license is valid for 1 year. You need to renew it on time to prevent it from expiring. If you don’t renew it within 4 months after it expires, you will have to pay a fine and go through the renewal process again.
IFZA has a 0% tax on profits and dividends for companies, and individuals do not pay taxes on income from international activities. However, you may have to pay a 9% corporate tax under new rules from the Ministry of Finance and the UAE Federal Tax Administration.
The benefits of having an IFZA license include low setup costs, competitive fees, tax benefits, quick startup, remote management, easy business expansion, full ownership of your company, simple bank account opening, and many other advantages.
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