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Today, interest in blockchain technologies is snowballing. If it was initially used only in the financial sector, today, it can be used in various areas, such as tourism, logistics, healthcare, etc. Dubai is one of the few cities where this technology is used almost everywhere. The leadership of this city has managed to appreciate all the advantages of this technology, so it is actively using it in its work.
To open a crypto business, you should get a crypto license in Dubai. It will allow you to work legally in this jurisdiction and attract more clients and investors. This jurisdiction has many advantages that we want to discuss today.
Benefits of this jurisdiction
If you own a large crypto organization and want to expand into a new market, Dubai is an excellent choice. Firstly, it is one of the largest crypto centers in the Middle East. Many crypto enthusiasts live here who actively use such assets and invest a lot of money in this industry.
Secondly, it only imposes complex requirements for applicants. Dubai is an independent country within the UAE with different licensing rules. Practice shows that it is much easier to obtain a work permit in the capital than in other parts of the country.
Thirdly, there is a straightforward system of taxation. You will only have to pay the right amount.
If you want to make sure that this jurisdiction suits you, you can contact the specialists of our company. They will analyze your organization’s activities, tell you how it meets the requirements of local governments, and suggest a possible alternative.
Requirements for applicants
As already mentioned, the authorities of this jurisdiction do not impose complex requirements for applicants. However, they strive to ensure that your software cannot be used against fraud, money laundering, and financial terrorism.
Important requirements include:
- Viable business plan;
- There are copies of the passports of all team members and partners;
- A spotless record of the crypto wallet without fraudulent transactions or actions;
- Your crypto assets must be registered with government agencies.
As you can see, if you are ready to work honestly and openly, you will not have problems with licensing. If you want to ensure that your crypto organization meets all the requirements, you can contact our specialists. They will tell you what aspects need to be improved and how they can be done faster.
Easy Steps to Get a Work Permit
Getting a work permit here is much easier than in other jurisdictions, but you need to go through several necessary steps:
- fill in the electronic application;
- attach details of all owners, shareholders, and partners;
- submit documents to the relevant state authorities;
- pay the fee.
If all the documents are in order, you can get a work permit within a week after applying. This period is concise because it can take 3 to 6 months in the UK.
After you receive a work permit, you can start your activity. You must also regularly provide information about your activities to government authorities to confirm that you are not engaging in fraudulent activities. If government agencies suspect you of money laundering, they may revoke your license. It will be impossible to get it again.
Services of our company
It is challenging to fill out an application and all the necessary documents on your own, so you need the help of Gofaizen&Sherle specialists. They will provide you with a full consultation and answer any questions, it usually takes a lot of time, so we advise you to free the whole day.
As part of the cooperation, they will check your organization’s readiness for licensing and suggest what changes need to be made. In addition, they will help you complete all the paperwork.
You do not need to come to this jurisdiction because all documents can be issued electronically. You can give power of attorney to our specialists; in this case, your participation in the licensing process will be minimal.
In the end
Dubai is an incredibly promising jurisdiction in blockchain technology, which is why many organizations seek permission to work here. It is suitable for large organizations and startups that want to operate in the Middle East.
