How to Obtain a Cryptocurrency License in Dubai?
In recent years, investing in cryptocurrency has become popular across the globe because of the notion that it has higher chances of profiting compared to other types of investments available in the market. Hence, those individuals who seek long-term investments that they can rely on in the future, opt to invest in cryptocurrencies.
What is cryptocurrency?
Cryptocurrency is a virtual or digital currency that is designed to work as a medium of exchange, whether to make payments or to store money without going through the bank. Currency holders use decentralized technology so users can make secure transactions without needing to provide their name or go through the bank
How to obtain a Cryptocurrency License in Dubai?
Choose a company name
When setting up a business in Dubai, the first step to accomplish is choosing an appropriate name that reflects the nature of the business. The name must comply with strict naming conventions set by the UAE and must not be offensive to certain races or religions.
Choose your preferred jurisdiction
Make a final decision on where you want to establish your business operations. You may apply for a permit or license to set up company in Dubai mainland or in one of the free zones.
Submit the cryptocurrency license application form
Secure and fill up the cryptocurrency license form from the respective authority where you want to start your new business setup Dubai.
Submit the required documents of the shareholders
Gather a copy of the passports and required documents from your business partners and shareholders. Compile the documents neatly and submit them to the authority who will process your license.
In case you are a foreign investor, or you are not familiar with the legal processes in Dubai, you may hire professionals who provide the best PRO services in Dubai. This way you can get everything processed without delay
Complete payment and wait
Pay the required amount to the respective authority that will be providing you with a cryptocurrency license. Once the transaction is complete, you just need to wait for the approval of your license.
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