Date added: : 05.02.2020

The United Arab Emirates has always had a bold approach to innovation. Cryptocurrency companies, as well as blockchain startups, will get their chance in this country. A “crypto valley” will be created in Dubai, in which crypto organizations will be able to develop their business and use attractive taxation regimes.

The initiative was launched at the World Economic Forum by the Dubai Stock Exchange (DMCC). Representatives of the company said that the “crypto valley” will be located in the main business district of the city. DMCC CEO Ahmed bin Sulayem said that in this way, the exchange intends to support startups from around the world and provide them with decent conditions for development. The project is being developed in partnership with the Swiss company CV VC, which specializes in venture financing.

The crypto valley will have its own “startup incubator”. In addition, DMCC plans to attract people with extensive experience in the blockchain industry into the economic zone. A special tax regime will be applied in the crypto valley, under which startups will not have to pay income tax.

Law&Trust offers services to customers who intend to register a cryptocurrency or blockchain startup in the UAE. Our lawyers will tell in detail about the features and benefits of working in the free economic zone in Dubai, help register an organization, obtain the necessary licenses, etc.