Business Setup in DMCC: Crypto Centre

DMCC is known as the ‘Dubai Multi Commodities Center’. It is an international center for business, trade, and commerce in the UAE. More than 24,000 companies of various sizes operating in DMCC.

It offers an eco-friendly environment. You get top-notch offices, housing, and shopping amenities for over 80,000 workers in the UAE. Also, it is famous as the number one free zone in the UAE.

In this blog, let us discuss the benefits of DMCC, and the steps to set up a business in DMCC. Additionally, you can get more information about the cryptocurrency license activities offered by DMCC.

Benefits of DMCC

There are numerous advantages to setting up your DMCC free zone company.

• It is situated in the heart of Dubai, and you can get easy access to key global markets.
• 100% business ownership, with low-rate corporate taxes, and a straightforward company formation process.
• Crypto-friendly environment and virtual assets protection in Virtual Assets Regulatory Authority (VARA)
• Crypto-based business activities to promote cryptocurrency in the UAE.
• State-of-the-art offices, residential areas, and retail facilities are designed for a business-friendly environment.
• Over 24,000 companies from various industries operate in the DMCC free zone.
• It offers business advisory and international networking events.??????
• It attracts skilled professionals and gives access to a highly skilled workforce.
• Proximity near to global markets and international airports.
• It offers flexible desk, furnished, and service options for company setup.
• DMCC ranked as a family-friendly community in Jumeirah Lake Towers (JLT).

Crypto license activities in DMCC

Select the license type and business activities that suit your needs. Familiarize yourself with the necessary paperwork and the costs involved. Contact us and we will assist you with your online application for a smooth experience.

• Blockchain as a service (DLT)
• ?Metaverse service provider
• Investment in web3 projects
• Virtual assets proprietary trading
• Proprietary crypto mining
• Web3 consultancy services

Regulated Virtual Assets Activities

• Advisory services
• Broker – dealer services
• Exchange services
• Custody services
• Lending and borrowing services
• Transfer and settlement services
• Management and investment services

Company Setup in DMCC

Are you prepared to turn your DMCC business vision into a reality? Emirates Business Setup can help you achieve it with ease.

1. Choose a business plan

Select the license type and business activities that suit your needs. Familiarize yourself with the necessary paperwork and the costs involved. Contact our agent who will assist you with your online application for a smooth experience.

2. Business registration

Complete the application form and submit the initial payment. Emirates Business Setup will take care of reserving a trade name and getting it approved.

3. Apply for a business trade license

Make payment for registration and crypto licensing charges. Complete the necessary paperwork and get the business license. The process usually takes 7-10 working days.

4. Choose an office space

Once you have obtained your business license, you will be all set to start operating within DMCC. Now, you can choose an office space and lease it according to your needs and preferences.

Documents Checklist

For DMCC license

• Passport copies of all shareholders, if required.
• Emirates ID of all shareholders and managers.
• UAE residence visa.
• Proof of residential address.
• Other documentation for the parent company.
• Third-party approvals for business activities.

For Virtual Asset Regulatory Authority (VARA)

• A business plan
• Governance framework
• VA listing policy
• Local bank accounts
• Financial statements
• Interest policy
• Compliance Manual
• Terms and Conditions
• AML/CFT policy and procedures
• Outsourcing policy & agreements
• Anti- Bribery and Corruption policy
• Virtual Assests listing policy
• UAE wallet address

Types of office spaces by DMCC free zone

DMCC free zone offers different options when it comes to leasing office spaces in Dubai. You can choose from different options within the sixty-eight-tower building. Entrepreneurs have the flexibility to choose an office space. You can choose it according to your budgets, needs, and preferences.

Flexi desk options

A flexible desk is a shared office space. Flexi desks are not included in getting a DMCC license. A maximum of three residency visas are allowed at the Flexi desk.

Serviced office options

A serviced office provides a dedicated workspace in the UAE. It is used for a company’s exclusive use. It is quite similar to flexi desks that are commonly included in specific packages.

Physical office options

Businesses have the option to rent out office spaces. You can also buy office space yearly. You can choose any office space according to your needs and budget.

DMCC license cost

There are various costs and requirements to consider when you set up a business in the Dubai Multi Commodities Centre:

• DMCC License Cost: The business license in DMCC starts from AED 35,000. This cost can vary based on the type of business activity and other factors.
• Shareholders Capital: The minimum share capital cost for a DMCC company is additional per shareholder.
• Office Rent: Office rent is additional and depends on the size and location of the office space within the DMCC Free Zone.

Conclusion

DMCC is a leading global business hub. It is ideal for cryptocurrency companies of all sizes. DMCC is located in the heart of Dubai. It offers a business-friendly environment, top-notch infrastructure, and a vibrant community. DMCC supports innovation and growth. It makes it perfect for start-ups and multinational corporations alike.

Join DMCC to access endless opportunities. Achieve excellence in your business endeavors. Schedule a meeting and get advantage from a free consultation!