If you are thinking of starting your cryptocurrency business in Dubai UAE, it is necessary to consider the costs involved. There are some mandatory costs such as office rent and regulatory documents. Moreover, your business will be required to have a minimum capital of AED500,000. In addition, a cryptocurrency license in Dubai comes with many other benefits.
In order to start a cryptocurrency business in Dubai, you need to obtain a license from the UAE government. Before applying for a cryptocurrency license, you must first form a company and file the necessary documents with the Dubai Multi-Commodities Center (DMCC), the Central Bank of the UAE. You should also be sure to comply with strict cyber security laws and protect customer information. The process of getting a license may take about two weeks. After receiving the license, you can start working on your business plan and secure the necessary financial information.
Once you have the license, you can start your cryptocurrency business. The DMCC Crypto Centre has provided financial support to foreign investors who want to start their own cryptocurrency business in Dubai. In addition, CV Labs, a government-backed startup incubator, supports several cryptocurrencies, including Ethereum, Tezos, and Polkadot.