Regarding an activity related to cryptocurrencies and NFTs, the DMCC Registry now offers the following licenses:
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 this 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.
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.
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.
WARNING: opening a bank account in Dubai for any cryptocurrency related activities is still impossible… But we have found a solution: a Swiss bank accepts the opening of an account for a company registered in DMCC. Please note that this bank requires that the Manager of the company has a residence visa for the Emirates.
Please note that it is not required to travel to Dubai to register your company and to open its bank account. Everything can be done remotely!
Obtaining a residence visa requires your presence in Dubai. But in this case we can register your company before you come, so you only have to come once, after the registration of your company, to get your visa.
