If you want to open a Dubai crypto fund it is important to follow local and international rules in this regard. The Dubai Financial Services Authority is the institution that oversees financial operations with cryptocurrencies and the one that imposes various rules in this growing sector. But to open a Dubai crypto fund, we invite you to discover the services offered by our company formation agents in Dubai.
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How can you set up a crypto fund in Dubai?
Even though the UAE has announced the launch of its first virtual currency by 2026, many are using digital currency for various investments, financial operations, and related businesses. For example, you can open a Dubai crypto fund, and here we review some formalities:
- Issuing, listing, and trading in virtual currency are allowed in the UAE, and the Virtual Asset Regulation is the set of laws recently implemented in this country.
- Those interested in such a fund can decide the amount of money for the crypto fund they want to open in Dubai.
- Transactions can take place with the help of a licensed person in Dubai.
- The Financial Services Regulatory Authority is in charge of the rules for cryptocurrency transactions in the UAE.
What is important to note is that, regardless of the virtual currency used, the rules regarding anti-money laundering must be observed. One of our company formation agents in Dubai can give you more details on how to open a Dubai crypto fund.
Those interested in immigration to Dubai can contact our specialists with experience in this area. If you have accepted a job in this country, you can apply for a work permit by presenting the employment contract, proof of income, and domicile. You can also apply for a study visa and relocate to Dubai, without complications in terms of the formalities imposed, We remind you that the authorities can ask applicants to clear criminal records as part of the process of obtaining the desired visa.
Buying Bitcoin in Dubai
Bitcoin is the most used cryptocurrency at the moment, and it has been traded in the UAE since 2014. Foreign investors can open a Dubai crypto fund, but first of all, they have to buy Bitcoin. Here’s how to buy a virtual currency like this:
- Bitcoin can be bought through brokers or crypto exchanges.
- Then, one must open a trading account that offers cryptocurrency brokerage and exchange. Depending on the chosen platform, a fixed fee will be paid.
- Next is the upload of personal documents such as ID or valid passports.
- Depositing a sum of money starts from a minimum of EUR 200. Bank transfers and card payments are accepted.
- The open account offers access to trading to buy Bitcoin for the desired amount.
- An electronic wallet can be used to view personal crypto funds.
- Payment in AED for Bitcoin involves fees of at least 0.5%.
You can contact our specialists in Dubai if you want to open a cryptocurrency fund. to make sure you know all the formalities involved. Also, our local agents can help you with company formation in Dubai, regardless of the activities you want to undertake.
Investing in Dubai is always a great option
There are many reasons why Dubai is one of the most popular business destinations in the world. Being a stable and strong financial center, Dubai is chosen for real estate investments with high returns, impeccable infrastructure, a fast-paced economy, innovation, and development. Here are some economic aspects of the UAE that might arouse your interest:
- The medium and high-tech industries in the UAE received about 53% of the total FDI in 2020.
- About USD 150 billion was a total foreign investment in the same year.
- Greenfield investments had a total value of over USD 9.5 million in 2020.
- Government-initiated economic plans involve about USD 150 billion for domestic projects, until 2030.
Do you want to open a crypto fund in Dubai? We invite you to contact our local specialists and discuss all aspects. We offer solutions and alternatives for the investments you want to make in the UAE.