If you want to operate a cryptocurrency company in UAE, You will have to get a license to use a business in cryptocurrency. The charges you need to conduct purchasing, trading, monitoring, and selling require a minimum of AED 30k or 50k capital. The cost of obtaining a crypto license in Dubai heavily depends on the kind of license you’d like. Some countries require more to get an appointment than others.
To get a crypto license to operate in Dubai, it is necessary to establish a company through Dubai Multi-Commodities Centre. Dubai Multi-Commodities Centre, which is the Dubai’s Central Bank. Your company must adhere to strict laws regarding cyber security and protect customer data. Applying for a license could be as short as two weeks. You can choose the location you want to work at and make any payments as soon as possible. When you’ve received your certificate, you can begin to work on developing your company’s plan and securing financial data.
The process of obtaining the DMCC cryptocurrency license can be pretty affordable. However, it requires a minimum amount amount of AED 500,00. Although licensing may be costly, the benefits outweigh the expense. In addition to an initial capital of AED 50 000, DMCC licenses require prior approval by the free zone’s authority. Similar to every permit, you need to follow the rules of the DMCC.