As the digital age advances, the realm of cryptocurrencies continues to grow exponentially, with Dubai standing out as a flourishing epicenter for crypto aficionados and enterprises. Owing to its forward-thinking policies and conducive regulatory landscape, Dubai presents an unrivaled opportunity for entrepreneurs and investors intending to set up a crypto business. Consulting24, a preeminent consulting firm with a specialization in crypto license acquisition, has successfully finalized over 500 licenses in Estonia, Lithuania, and now in Dubai. In this detailed guide, we'll guide you through the process of securing a crypto license in Dubai, underscoring its advantages and offering crucial insights into the licensing prerequisites.
Securing a crypto license in Dubai yields several benefits for individuals and businesses stepping into the cryptocurrency realm. Primarily, it bestows legal credibility, guaranteeing adherence to the regulatory framework and offering investors peace of mind.
Moreover, possession of a Dubai crypto license provides access to a broad spectrum of services, encompassing advisory, broker-dealer, custody, exchange, lending and borrowing, along with VA management and investment services. This wide-ranging licensing framework enables entrepreneurs to venture into diverse sectors within the crypto industry and leverage emerging prospects.
Services Offered and Government Fees:
Consulting24 provides an array of services to support you throughout the licensing journey. These consist of company formation, acquisition of cryptocurrency licenses, guidance on AML/CTF documentation, and application submission. The governmental fees for various services differ, with advisory services priced at 9,700€, broker-dealer services at 24,250€, custody services at 24,250€, exchange services at 24,250€, lending and borrowing services at 24,250€, VA management and investment services at 24,250€, and VA transfer and settlement services at 9,700€. Renewal fees amount to 50% of the initial license fee, ensuring your crypto venture's sustainability.
Consider Lithuania as an Option:
If acquiring a Dubai crypto license appears costly or lengthy, Consulting24 advises considering Lithuania as an alternative. Lithuania offers a reduced setup duration of 30–60 days and comparatively lower expenses. This flexibility permits entrepreneurs to select the jurisdiction that aligns best with their budget and time limitations, while still enjoying a conducive regulatory environment.
Licensing Registration Process:
The procedure of obtaining a crypto license in Dubai entails multiple essential steps. The first step is the Initial Approval Application, incorporating company registration, submission of an Initial Disclosure Questionnaire, and the creation of a comprehensive business plan. This plan should detail your planned operations, financial projections, and how you propose to integrate cryptocurrencies into your business model. Once the preliminary fees are remitted, you will secure an Initial Approval, enabling you to conclude your firm’s legal incorporation and accomplish operational setup.
The subsequent step is the Full Market Product (FMP) License Application.
This phase involves the preparation and submission of documentation as per VARA's (Virtual Asset Regulatory Authority) guidance. VARA will review the submission and provide feedback, which may encompass meetings, interviews, and the submission of additional paperwork. Upon remittance of the remaining license and supervision fees, you will be granted the FMP License, subject to operational conditions.
Securing a crypto license in Dubai paves the way to a universe of opportunities in the fast-paced crypto industry. With Consulting24’s vast experience in crypto license registration, you're guaranteed a quick and efficient process, aiding you in navigating Dubai’s intricate regulatory terrain. Whether you opt for Dubai or view Lithuania as an alternative, participating in the crypto revolution with a legitimate license is the key to a prosperous crypto venture in the Middle East. Begin your journey today and unleash the potential of cryptocurrencies in Dubai! For further details, visit Consulting24 — Crypto License Dubai.