With an enormous potential of development in many industries, Dubai is set to improve the life conditions and to adopt any kind of smart technology, including cryptocurrency. The innovation industry in the Emirates has created major opportunities for entrepreneurs who want to establish their presence on the digital market by choosing to set up cryptocurrency companies in Dubai. A new law supervises the payments with digital currencies in Dubai, as it was approved earlier this year. In order to open a cryptocurrency company in Dubai, it is recommended to ask for legal help and guidance from our lawyers in Dubai. They can explain the legislation in this matter and can provide you with legal assistance.
The electronic payment system in Dubai
The use of digital money in the Emirates has been excluded for years, until this year when a new law was implemented in this important field. Any businessman who wants to open a cryptocurrency company in Dubai must comply with the provisions of the Regulatory Framework for Stored Values and Electronic Payment System. Furthermore, one should know that the Central Bank of the Emirates supervises the digital currencies and the use of this kind of electronic payment. Businessmen interested in opening a cryptocurrency company in Dubai can benefit from numerous advantages offered by the Dubai International Financial Centre, an important free trade zone in the Emirates where the local partnership condition is not applicable. A cryptocurrency company in Dubai can be a successful one and can be settled with complete legal help from our Dubai attorneys.
How to set up a cryptocurrency company in Dubai
Opening a cryptocurrency company in Dubai does not require particular conditions, except the ones set as for any kind of business in the Emirates like limited liability companies, joint ventures or partnerships. Companies can deal with digital currencies like Bitcoin, ArabCoin, and Farad, the latter being launched at the beginning of this month.
If you are interested in opening a cryptocurrency company in Dubai, we invite you to contact our law firm in Dubai for complete information and legal assistance.