The achievements taken by the UAE in the new technologies sector , such as cryptocurrency and blockchain are astounding. In a time where the government is promoting the crypto industry and promoting crypto, it is easy to conclude that the current business establishment that is available in Dubai, UAE is ideal for crypto companies.
The DMCC crypto centre allows investors to obtain DMCC crypto license under the DMCC free zone, Dubai. DMCC has established a sufficient infrastructure, solid regulations and facilities that support the establishment of crypto-related companies in Dubai. But, prior to jumping into the water, investors must be well-versed in the conditions, requirements and processes of setting up cryptocurrency businesses in the DMCC free zone. Here’s a checklist of all the information investors need to be aware of when registering a DMCC crypto license with the DMCC free zone.
DMCC crypto license activities
DMCC Free Zone is currently allowing following activities related to cryto for formation of DMCC, Dubai crypto company:
| Activity code | Activity name | Activity Description |
| 7229-99 | Distributed Ledger Technology Services | This activity includes providing database management solutions and ancillary services based on distributed ledger technologies, such as Blockchain. Companies with these activities are not permitted to trade in, or setup an exchange for, currencies or crypto currencies/commodities or provide any financial activity services, brokerage or payment processing. |
| 6599-92 | Proprietary Trading in Crypto-commodities | This activity includes the buying and selling (Proprietary Trading) of crypto-commodities developed on distributed ledger technology applications, and does not include acting as an exchange, providing brokerage services, financial services, banking services, payment processing or storage services.
This activity is a standalone license activity allowed for new companies only and cannot be conducted with other activities under the same company, subject to meet our standard requirements and additional requested documents / requirements for this specific activity. (The approvals are required before application submission). |
| 7229-97 | NFTs E-Marketplace Provider | Includes firms engaged in providing an online platform for the buying & selling of third parties’ unique digital assets (NFTs) and facilitates commercial interactions between buyer and seller in return of a commission or remuneration. The online platform cannot be used to trade or promote crypto-commodities, cryptocurrencies or NFTs covering any regulated products or securities.
This activity is standalone license activity allowed for new companies only and cannot be conducted with other activities under the same company (subject to prior approval by DMCC management prior to registration). |
| 7229-98 | Metaverse Service Provider | Includes firms engaged in the development and hosting of digital virtual environments, which enable simulated interactions between individuals. Companies with this activity are not permitted to issue tokens which are traded on exchanges or trade in crypto commodities.
This activity is standalone license activity allowed for new companies only and cannot be conducted with other activities under the same company. |
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DMCC crypto license cost
Kindly find below estimated cost for setting up crypto company with DMCC Free Zone:
| Sr. No. | Particulars | Amount (AED) |
| 1 | Pre-approval | 1,035/- |
| 2 | Registration | 9,020/- |
| 3 | Trade license | 20,285/- |
| 4 | MOA-AOA | 2,020/- |
| 5 | Establishment card | 1,835/- |
| 6 | Office options |
|
Timeline for DMCC crypto company formation
| Sr. No. | Particulars | Working days |
| 1 | Pre-approval (includes name approval, management approval and compliance approval | 7 to 10 |
| 2 | Registration of the company (once the company will be registered, Provisional approval to book the office and Bank letter to open bank account will be issued) | 3 to 5 |
| 3 | Issuance of company license | 3 to 5 |
| 4 | Issuance of Establishment card | 7 to 10 |
Documents/information required to obtain DMCC crypto license
Below documents / information required for formation of DMCC crypto company:
| Sr. No. | Type of documents |
| 1 | Passport copy |
| 2 | UAE Residency Visa and Emirates ID (if UAE resident) |
| 3 | Proof of residential address in country of residence (for example a utility bill) |
| 4 | Answers of the questionnaires provided by DMCC |
| 5 | If setting up a branch or a subsidiary, copies of the parent company documents |
DMCC crypto license renewal cost
Please note that as per DMCC rules and regulations every company registered under DMCC Free Zone has to renew trade license every year. Kindly find below estimated cost for DMCC crypto license renewal:
| Sr. No. | Particulars | Amount (AED) |
| 1 | Trade license | 20,285/- |
| 2 | Establishment card | 1,835/- |
| 3 | Office | Depends upon type of office choosen |
We, The Prefect Advisors DMCC will help you in registering crypto company with DMCC Free Zone. For more information, kindly contact us.
