Cyptocurrency Startup and UAE

1. Cyptocurrency Startup and UAE If you plan to launch a Cryptocurrency Startup, here’s why you must consider moving to the United Arab Emirates Let us consider you have a great business idea about Digital Assets/ Cryptocurrencies and now you need a game plan to launch your decentralised digital payment for the real world. A team of coders are needed to develop public key-cryptography to verify the transfer of virtual assets and secure the transactions. Your business requires the support of regulatory guidelines which help you launch a successful cryptocurrency business. Be a part of the new Crypto wave which puts you out of the gamut of centralised systems such as bank and state authorities. Moving to the United Arab Emirates is highly recommended for Crypto currency startups and here’s why : 1. An ideal regulatory environment : The UAE offers great security and protection to Crypto startups, unlike any other countries. It has been built on the foundation of transparency for

2. business owners. About 50% of Government Transactions have been conducted using the blockchain technology since 2021. Here are some key regulations: a. You need a license from the relevant authority body before establishing your cryptocurrency business in the UAE b. The businesses must comply with Anti-Money Laundering (AML)and Combating The Finance of Terrorism (CFT) regulations with processes such as verfication and customer identification. c. The investors and businesses related to cryptocurrency need not levy any tax, however they are subject to other applicable tax laws. The FSRA ( Financial Services Regulatory Authority) which is the financial regulator of Abu Dhabi Global Markets (AGDM) has issued guidelines whereby cryptocurrencies will be available for sale to the general public 2. Best Location: UAE shall help with access to global investors and likely easy business interactions with other parts of the world like Europe, Asia and Africa. Additionally, the UAE has a great infrastructure such as communication networks, seaports and world-class airports for seamless transactions and business opportunities. The UAE attracts foreign investors given it’s diversified economy and wealth, open business environment, legal protection for cryptocurrency

3. activities, development of blockchain technology and zero tax on personal, corporate or (VAT) Value Added Tax. 3. Raise funds for your business The UAE is very supportive of the startup ecosystem as there are many angel investors, venture capitalists and Government funds which can help businesses raise capital. The Dubai International Financial Center (DIFC) has launched a $100 million fund to invest solely on fintech startups. A Initial Coin Offering : It involves creating a new cryptocurrency Or token and offering it to investors in return of Bitcoin, Ethereum or fiat currency. You need to meet compliances with Security and Commodities Authority (SCA) b. Venture Capitalist : You can identify firms which specialize in cryptocurrency and blockchain projects and pitch your business plan to themthem to grow investment. c. Angel Investor — These are typically high net worth individuals with a keen interest in cryptocurrency projects. D. Crowdfunding — Sourcing funds from common public on the internet. You could raise investments in exchange for tokens or cryptocurrencies. Get the guidance of a specialist Financial Lawyer to understand regulations, positioning and sustaining your business in the UAE. 4. Relocate with entrepreneurial benefits

4. The UAE has devised a new visa category to support entrepreneurs which let them live and work in the UAE for five years. It is best to keep a tab on evolving policies by the UAE Government, however UAE already offers a range of Visas under Investors Visa/ Entrepreneurs Visa and is a great hub for Cryptocurrency businesses. 5. Growing demand for Cryptocurrencies: The population within the UAE, especially young people are very tech- savvy. Moreover, the Government is keen to establish a blockchain technology (record of transactions) within the finance, healthcare and logistics sector. The UAE is now the WORLD’S fintech and blockchain technology pioneer with many financial companies developing inventive financial technologies, cryptocurrencies are seen as a major part of fintech companies. Additionally, the Government is rapidly embracing digital currency, in fact UAE Government transactions are being conducted using the Blockchain technology. There is a massive shift towards digital currencies under the UAE Blockchain Technology and Dubai Blockchain Technology to adopt new methods of investing in virtual assets. The UAE has a large population of expatriates, this can boost Cryptocurrency businesses to leverage paying in Crypto over other traditional methods

5. Here’s how a financial lawyer will help you with your Cryptocurrency Business in the UAE a. It worthy to note, the Dubai Blockchain Strategic and UAE Blockchain strategy are still evolving. You need a lawyer’s guidance to keep up with the ever-changing regulatory framework. b. A financial lawyer may be able to help you with understanding the perspective of applicable laws, taxes, risks and Compliance c. You can avail personalized guidance on raising capital, business growth, low taxes and opportunities to lure investors globally in the most ethical, transparent and assisted manner in accordance with the UAE law To get in touch with us, Please mail: consult@finjuris.ae Call us on: +971 561 365 987 For complete assisted support for your Cryptocurrency Business in the UAE. Visit: https://www.finjuris.ae/