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Step-by-Step Guide to Get a Crypto License in Dubai, UAE

Crypto is the future. Cryptocurrency is one of the hottest topics on the internet nowadays. More and more people are investing in it, and some are even getting into trading cryptocurrency. However, before you can trade cryptocurrency or invest in it, you must first get your hands on a Crypto License in Dubai.

The process for getting your hands on this license is not easy at all. You need to be aware of the Dubai Financial Services Authority (DFSA) regulations and what they entail. If you are looking to get a cryptocurrency license, then we are here to help you out with this guide on how to get a Cryptocurrency License in Dubai.

What is Cryptocurrency License?

It doesn’t matter what type of business you do; you must require a license to do a lawful business in Dubai or any other emirates in UAE. To start a Crypto Business in Dubai, you must need a license with approval from three government sectors such as – the Dubai Department of Economic Development (DED), Business Registration Licensing (BRL), and Dubai Multi Commodities Centre (DMCC).

Many business setup firms can assist you in obtaining a crypto license in Dubai. Smart Zones速 UAE is the leading Business Setup Company in Dubai that can provide affordable company formation and licensing services to help entrepreneurs and investors to build their businesses in Dubai.

Requirements for Getting a Crypto License in Dubai

To get a cryptocurrency license in Dubai, be ready with the following requirements:

  • A commercial license from DMCC
  • A copy of the valid passport of you & the partners (if any)
  • A clean crypto wallet record with no deceitful transactions
  • Record of resources to manage the business operation for 6 to 12 months
  • Crypto assets should be approved by the UAE Financial free zone

Step-by-Step Guide to Follow to Get a Cryptocurrency License in Dubai

  • Download the cryptocurrency license application form and complete it with all the required information.
  • Submit the application form to the respective jurisdiction where you want to set up your business
  • Complete the payment process by paying the processing fees to the authorities
  • Once everything is done, the respective authority will process your application and provide you with the approval for the cryptocurrency license within a week.

The application checklist process may seem easy, but it’s a MYTH – Yes, without professional support and guidance, you may face delays or rejection in the application. That’s the reason – getting help from an experienced business consultant to set up a company in Dubai Mainland or Freezone is a must.

Why Choose Smart Zones速 UAE, the best Business Setup Company in Dubai?

Knowing the emerging competition in setting up a Crypto Business in Dubai, Smart Zones UAE offers personalized packages to help you open your new business in Dubai. From preparing a business plan, selecting a zone, to applying for a crypto license, we are here to help you inaugurate your business in Dubai.

Do Contact Us at any time to clarify all your queries in regards to opening a cryptocurrency business in Dubai.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111 / +971 529604444

Offshore Company Formation With Smart Zones UAE

UAE Offshore Company Formation provides liberty and solutions to investors in the most efficient way to run their business internationally. It is a company formed where its principles that is the Director / Shareholder’s or Partner’s reside. The purpose of this type of company formation is to operate outside the jurisdiction where it was originally formed.

One of the key benefits to forming an Offshore Company is that the expatriates enjoy full ownership of their business and the profits made goes to the owner of the company directly. One of the reasons why an expatriate want to invest in an Offshore formation is that the advantages of law can be fully utilized which is not available in one’s own country.

With assistance from Smart Zones UAE, we help you create a strategic plan for your firm and make sure that nothing is overlooked right from the financial structure to the legal formation of your enterprise.

Facts of setting up an offshore company:

UAE Company Incorporation provides numerous number of benefits to expatriates wanting to open an offshore firm, along with attractive tax structure design other factors that influence this kind of setup is as below:

  • Corporate shareholders from the UAE and abroad are permitted
  • There is no restriction of share capital and the currency
  • There is no need to deposit share capital in the bank
  • Extensive outsourcing opportunities
  • Complete privacy and confidentiality of business
  • Opening a corporate bank account in Dubai and anywhere in UAE is possible
  • The company director does not have to be a UAE resident
  • Offshore companies are generally tax exempted from the country in which they were formed and have 100% ownership.
  • Having assets into offshore and overseas it can provide a strong level of protection from liabilities in the future and the finances and other assets are usually screened from the public view.
  • Low capital requirements, Offshore Company formed provides flexibility in terms of capital structure and minimum capital is required.

With a wide scope of jurisdictions providing Offshore Company Registration, choosing the right jurisdiction requires a lot of important considerations. Our team of experts can provide the best supervision and the right professional advice, from assisting you to incorporate a company to submitting all the necessary documents for proper registration, we do it all.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111 / +971 529604444

Lets Go Virtual with Smart Zones UAE!

Virtual company setup enables entrepreneurs and investors to get their business license without having to be the city. These business license holders can carry out wide range of business activities pertaining to their industry and this can be done by signing and submitting documents electronically, this will remain as a legal documentation done to get your license.

When you’ve thought of setting up your business but cannot do so due to other priorities in the way, this is a chance for many entrepreneurs to set up their business without relocating. And here’s how you can go virtual with us.

How?

  1. Set up your business activity, to decide on your business activity is the first process to apply for your license.
  2. Choosing your trade or company name. Although, there are strict rules on selecting your company name yet this can be done easily with a help of an expert.
  3. Applying for your business license is the next step. Investors don’t have to go through the hassle of applying for the license and the documentations required to do as we as consultants step forward to get this done for you.
  4. Processing for your business immigration card if you have opted for a visa package, this card allows your company to apply for visas and recruit staff.
  5. Process your visa, no wonder UAE is known to be an investor- friendly country with less documentations for your license and visas as well, setting up your company takes less than a week.
  6. Lastly, opening a corporate bank account. Once you have your business license you can now proceed the paper works to open a corporate bank account for your company. We help you set the right paper works needed to open your bank account with priority banking in Dubai.

Our investors will have 100% honest opinions and guidance from us before and after the incorporation, we not only help you with setting up your business but also look forward to build a strong business relationship with our clients.

With ample amount of knowledge we share with our clients regards to setting up your business and the guidance needed, establishing your firm does not have to be a complex procedure.

You can now schedule your Skype/ Zoom Meeting appointment with us and get a complimentary market evaluation to help you with your business setup in the UAE!

We have your back!

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

Why you should consider doing business in the UAE

There are numerous reasons why investors should consider setting up their business or expand your business in Dubai. Dubai by far still remains #1 business location in the Middle East. Despite the talk about economic down turn, Dubai has always managed to stabilize itself financially and starting to show the signs of strong revival no matter the situations in the country.

Dubai still manages to attract foreign investors to setup their businesses, among many Emirates in the UAE Dubai and Abu Dhabi still remains the most appealing locations to start your business.

Expo 2020 has given an extra boost and just another reason and opportunities to new entrepreneurs and startups to showcase and grab more opportunities for their business.

Following are some of the reasons why investors should consider setting their business in the UAE:

  • Great support from the Government and financial bodies has influenced most foreign investors to establish their company.
  • UAE offers high standard of living and good quality of life.
  • There are plenty of industries and wider scope in the UAE in which investors can thrive and reach out to expand their business.
  • The UAE has impressive infrastructures be it roads or airways.
  • The existence of Free Trade Zones gives investors complete freedom to do their business without having to partner with a local Emirati and enjoy various facilities provided by the Free Zone authorities.
  • Expat friendly Visa options, having a residency visa in the UAE allows you to do a lot of things in the UAE such as lease a property, apply for a vehicle license, and the ease of travelling in and out of the country.
  • UAE is an income-tax free economy, which does not charge tax on the income of the individuals living here. Therefore, people wanting to invest in this country do not have to pay any tax to the Government.

And for many more reasons, the UAE has and will always be one stop destination for foreign investors to setup their business here. Smart Zones UAE helps such investors to start their business with utmost comfort and ease to get their company registered in a legal way.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

5 Things your business needs to do during the pandemic situation in the country.

These recommended tips that small business can take to eliminate risks, protect employees and simultaneously support your customers at this time.

The COVID-19 is spreading rapidly and with flying updates every minute many business owners are unsure of what steps to take to keep the business going and mitigate taking risks at each step.

Introducing Remote Work Option:

Implement a remote work policy to communicate via email, video call, conference call etc there are alot of free tools that business owners can utilise while staying in touch with their employees and customers.

Reduce Meetings and Travel and adopt virtual meetings

Try to keep exposure to the outside world to a minimum, and employees and owners can conduct virtual meetings with clients so that the deadlines are not affected and you can still get work done.

Communicate transparently with your customers

Be transparent to your customers and tell them what your business is going through as we are all facing this crisis. Describe what risks your business is eliminating and give them some insights, so you can gain their trust and the transparency is there.

Shift your sales strategy online:

Find ways to keep your employees earning a paycheck by selling online and generating new leads online. Business can also follow the complete online process for their customers during such situations.

And lastly, but the most important one

Take hygiene seriously:

Use health and safety tips for yourself and your employees, adopt the non-contact greetings, wash your hands regularly, try not to touch your face and disinfectant surface areas. Keep your customers and employees safe by being as proactive as possible.

One such method adopted by Smart Zones UAE, we provide full complete online process and business registrations to our clients to save a lot of their time. Business can be done at this time with the right people to guide you, don’t let the situation put you in second thoughts.

Stay Safe & Stay Healthy!- Smart Zones UAE

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

Opening Corporate Bank Account in Dubai

UAE Banking industry is known for its highest standards of customer service and modern standards of banking requirements. The improving financial stability in Dubai has attracted more foreign businessmen and investors to park their money and assets in these city banks.

The procedure for opening a corporate bank account varies from bank to bank. There is an array of complex steps and procedures to be followed if an investor wishes to open a Corporate or a Personal Bank Account.

Opening a corporate account in Dubai bank can be tedious process as well therefore, Smart Zones UAE assists our foreign investors to take a break with this tedious process while we take care of the implemented guidelines, ever-changing regulations and banking protocols.

Corporate Banking facts in the UAE:

  • There are 4 types of Banks in the UAE: Commercial, Industrial, Merchant & Islamic Banks.
  • All banks are regulated by the Central Bank of the United Arab Emirates.
  • Before opening your corporate bank account, having a business license is a must.
  • There are 23 local banks and 26 Foreign banks in the UAE.
  • To open a corporate bank your presence is required just once.
  • Continuous minimum balance required should be between 10 Thousand AED to 1 Million AED.
  • Application process usually takes upto 2-4 weeks depending on the bank chosen and other requirements.
  • Some banks in the UAE require at least one shareholder to hold a residency visa.

Wrapping it up

Since UAE banks have to be more stringent with their screening processes with increased number of requests for information and transfer the policies and rules of each banks are firmer. Do not let this put you off, there is no trouble in opening any type of bank accounts in this city. Although, do not go with what appears to be the cheapest or the easy company setup options as it may take more number of days required to setup your company account and the regulations could change time and again.

With Smart Zones UAE help our clients get priority banking in Dubai, we recommend suitable bank for your business needs, guide to compile all the required documents for opening a corporate bank account, brief you on the banking requirements.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

Dubai an investors dream – why should you consider setting up a business in Dubai.

Dubai’s fast-growing economy presents many opportunities for foreign investors, industry sectors like the services, finance, real estate and properties and other sectors are booming and backing up profits because of the investor-friendly environment Dubai provides.

Dubai is the second-largest city in the country that hosts a great number of foreigners living, working, or owning a company in Dubai. Being a fertile ground for new businesses, Establishing your business in Dubai is not only easy but highly profitable as well.

There are a few things foreign investors should be aware of before kick-starting your business:

  1. Economic Zone and Ownership: Once you’ve decided on your setting up your business you need to figure out the business zone that suits your company. It gives you the privilege of setting up a business in free zones, mainland and offshore which offers diverse advantages.
  2. Free zone: Free zones have been fruitful in attracting the remarkable amount of investments, generating profits for companies free zone allows foreign investors 100% ownership the easiest labor and immigration procedures, tax structure makes it the most economical locations car rental in the UAE
  3. Dubai Mainland: The major transformation Dubai has grown through its earlier decades is why it is one of the most successful and prosperous cities in the world. Carrying out business in Dubai mainland gives a scope of its business, be it commercial or professional. Processing a geographically strategic location business activities is quite flexible within the local markets in Dubai, all over UAE and also outside UAE. However, the shareholding pattern in Dubai Mainland is a UAE national sponsor in 51% and Foreign shareholder is 49%. The great support received from the Dubai Economic Department which encourages and eases the process of business setups, has played a major role in making Dubai a business hub.
  4. Setting Up Offshore Company in Dubai: Dubai is considered as a high standard place for setting up new businesses. An offshore company refers to a business that is incorporated outside of the country, wherein foreign investors can register their company as Dubai Offshore Company. There is a combination of factors that makes Dubai a destination to set up an offshore business. Some of these factors include- Tax relief, easy setup, complete 100% ownership, economic facilities that help companies flourish in a progressive system.

To wrap it up

Setting up business in Dubai brings a wealth of opportunities for networking, collaborating with like minded professionals and an ultimate growth. We take pride to be of such assistance to foreign international investors to guide them on each and every step to be taken, you will not only have the right legal guidance but also honest opinions from our end before and after setting up your business.

This isn’t just consulting but building a strong business relationship!

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111 / +971 529604444

How to Setup a Real Estate Business with 100% Ownership in Dubai?

Dubai’s real estate market is witnessing massive growth, with over 6,500 plus real estate transactions worth $4.98 billion in one month. This showcases the growth and the demand for the real estate market in Dubai and grabs the attention of investors towards the real estate market. To attract those investors, Dubai Government has announced the implementation of a 100% Business Ownership Rule. This initiative allows expatriates and investors to run their businesses without needing sponsors.

Thinking, how this reform is going to affect the market? The answer is that the Dubai government is making these reforms for the ease of investors, making the country retain its position as the leading business spot both locally and globally. Real estate businesses with 100% ownership give investors and business owners’ confidence to invest their time and money to grow their company.

Apart from this, the UAE government has also come up with the New Visa Rules 2022 that implement – Green Visa, Golden Visa, Temporary Work Permit, and so on. All these initiatives will benefit UAE and make it the most preferred destination for making investments.

Benefits of Setting up a Real Estate Business in Dubai

  • 100% ownership
  • No property tax
  • Get a resident visa based on the property purchase in Dubai
  • High rental income
  • Worthy investment

How to Setup a Real Estate Business in Dubai

With the recent announcement of 100% ownership in real estate, are you tempted to set up a real estate business in Dubai? Great decision -it’s the right time to open your real estate firm in Dubai. But the question is – How will you set up a real estate business in Dubai?

The first and foremost thing is to get a real estate broker license in Dubai. To get a license, fill out the application form for a real estate license and submit it to the Department of Economic Development. Get approval from DED and RERA via Trakheesi System.

If you have decided to set up a real estate business in Dubai, contact Smart Zones now! Our experienced consultants in Dubai assist you in all stages, from registering your business and applying for licenses to the final company setup.

We have helped several real estate companies set up their business, and we would love to assist you with your company formation in Dubai Mainland and Freezone. If you have any queries regarding business setup or real estate company formation in Dubai, UAE, please do contact us.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

Looking for Business Setup in Dubai?

Looking for Business Setup in Dubai, UAE? Here’s What You Need to Know!

Dubai is a diverse city thriving with culture and great opportunities for investors. It is an ideal destination to set up businesses because the government has set up very attractive incentives to attract foreign investors like 100% ownership, 100% repatriation, and tax exemption for ten years.

Other factors that make it easy to set up a business in Dubai are the availability of a skilled workforce, solid infrastructure, and good connectivity domestically and internationally, and low cost of living compared to other leading capitalist economies. So, how will you start setting up your own business in Dubai? You must require some professional guidance and advice. This is where a smart business consultant in Dubai comes in.

Undoubtedly, starting your own business in Dubai is not an easy task; it’s really a lengthy task that comes with planning, approval, and execution. Having a consultant experienced in business setup in Dubai will surely make the business setup process hassle-free and stress-free.

Importance of Choosing a Business Consultant in Dubai

Choosing a business consultant who is well-versed in company formation and business setup in Dubai Mainland and Free Zone can help you make an informed decision in establishing your business presence from scratch. Their advice will be of million dollars’ worth that helps in developing growth-oriented strategies to run and manage your business. Apart from providing valuable advice, hiring a business consultant in Dubai also offers a lot of advantages as follows:-

  • Understanding of legal formalities: Business setup consultants are well aware and familiar with all the formalities that ensure your business formation things will be carried out smoothly without any legal issues.
  • Understanding of company formation rules: Do you know UAE has more than 40 free zones, and each comes with its own rules and regulations for setting up a business? So, how will you choose the right location for your business? An experienced business consultant can help you with this. By coordinating with Dubai Economic Department, the consultant can figure out the right zone to carry out your business operations without legal risks.
  • Hassle-free business setup process – As you know, going through the company formation process is really stressful. But by having an experienced consultant by your side, you can rest assured that you are in safe hands and everything will be taken care of by them professionally as per the government norms.

How can Smart Zones help in Business Setup in Dubai?

Are you looking for the right person to build your business empire in Dubai Mainland or Freezone? Contact Smart Zones, one of the best business setup firms in Dubai, UAE. With our years of experience and expertise in the industry, we will take the burden off your shoulders and help you establish your business presence in Mainland, Offshore, & Free Zones without any hidden costs.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

Impacting life of Entrepreneurs in The UAE

UAE has been the most popular destinations for expats and entrepreneurs, there is no better place than this to start your journey as an entrepreneur. UAE has been holding the greatest hub for businesses and still continues to do so.

The Government continues to show support to the expats living in this country with such great benefits plus offering a host of new possibilities and opportunities to entrepreneurs living in the UAE.

These 5 reasons we best believe that can excite entrepreneurs:

  • A Wide Landscape for small business and startups – The UAE has been a magnet for entrepreneurs across regions and a boom for established businesses but what about the startups? This country not only provides favorable framework for startups but also offers a number of co-working spaces, training programs, and networking opportunities and much more for entrepreneurs just in the business.
  • Opportunities to Expo 2020 – Expo 2020 gives massive opportunities to entrepreneurs, investors, start-ups and tourists to experience advancements across the world in fields such as transportation, communication, technology etc. This platforms can be a great way to introduce your business to the world, coming into partnerships with like-minded entrepreneurs, and also a great way to network.
  • Diversified Economy – The economic diversification has led to impressive development in various industry vertical. UAE is setting its mark as a center for doing business and also great career opportunities to professionals.
  • Female Entrepreneurship Opportunities – Female Entrepreneurs are a huge part of the UAE economy, there are various government initiatives and strategies to boom female entrepreneurship. The ease of doing business with simplified process, fast-track visa and license issuance gives a lot of other women expats and locals to start their business in the UAE
  • Great Trading opportunity and Tax-Free Country – Dubai’s location serves the best for cross-country trade, trading can be done easily with Gulf, African and Asian countries. Dubai has been hosting trade shows and international exhibitions every 5 months. This gives great opportunities to entrepreneurs looking to set up their business in the trading industry through promoting their business and networking sessions. Talking about the Tax-free Country, Dubai and UAE as a whole is a tax-free nation whether you decide to set up your business in the Free Zone or the Mainland, there are no corporate or income taxes on business.

This City is a popular destination for individuals who are looking to set up their business in the UAE. Smart Zones UAE helps such individuals looking forward to start their businesses in this country, now setup is made easier with virtual business setup with us giving you the chance to come up with your business idea being in your home country while we take up the initiative of registering your company in the UAE.

Smart Zones UAE takes pride in being an expertise in this field since 2012, we help many investors make the right choice following the legal structure in UAE and make their establishment in the industry a success.

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111/ +971 529604444

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