The Law on Dubai Cryptocurrency Exchange License

Opening a crypto exchange in Dubai may appear to be a complicated task. This emirate introduces quite strict legislative rules to follow. The oversight of the local regulator is strict as well. Still, these regulatory difficulties are compensated by the enormous number of business opportunities that become available after registering a crypto exchange in the UAE. The jurisdiction is open to foreign capital and is promising from the point of raising big money. 

Getting a crypto license is a must-have condition to enjoy all available business opportunities in the UAE. The recent trend shows that many businessmen become more interested in getting a cryptocurrency license in Dubai Prifinance Company helps with assessing the background of your business objectives and chances of success. Professional lawyers develop an individual action plan that maximizes application chances and support the projects further. Lawyers are also ready to share with interested businessmen the basic details of launching the project in this jurisdiction.

Important Points to Know 

The law on cryptocurrency regulation covers multiple legal acts applicable to the industry. Among all arrangements that have to be made to launch a crypto exchange, these ones should be noted in the first turn:

• registering a separate legal entity that will start operating as a future crypto exchange;

• collecting and arranging the details and documents necessary to apply for a crypto license;

• finding an official legal address in the jurisdiction;

• arranging adequate IT and technical facilities to run the project;

• forming the required capital;

• finding qualified staff and management; a separate AML officer should be in place too;

• ensuring ongoing tracking of operations carried out through a crypto exchange;

• developing verification procedures for potentially suspicious transactions;

• arranging periodical training for the local staff;

• complying with the applicable notification and reporting standards. 

From the point of taxation, launching a crypto project in this jurisdiction is also a promising thing. The corporate taxes are levied at the rate of 0% within the next 50 years after company registration. Import and export taxes – 0%. 

How Prifinance Specialists May Help You 

If you wish to register a crypto exchange exactly in the UAE and have chosen Dubai emirate for this purpose, Prifinance specialists are ready to assist you in the easiest and fastest possible realization of your business goal, including but not limited to:

• assessing your business case and developing an individual action plan;

• choosing the most appropriate type of legal entity for a future crypto exchange;

• collecting all required information and documents to launch licensing procedure and maximizing the chances to complete it with a positive decision;

• drafting all must-have statutory, registration, and compliance documents;

• opening bank accounts and arranging cooperation with payment operators as may be needed;

• helping with resolving all other matters that may appear in the course of the operation of an exchange. 

Provide explicit details about the background of your business case, so Prifinance lawyers could develop an individual action plan for your project and address all associated risks effectively.