Dubai starts new free trade zone for crypto companies and strives to become the crypto center of the future

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Dubai has made great efforts in recent years to become the center for cryptocurrencies of the future. The United Arab Emirates have established themselves as an attractive location for companies that want to drive digital change. With tax-friendly conditions and crypto-friendly regulation, Dubai has created optimal conditions to position itself as a progressive location in the heart of the digital currency market.

The RAK Digital Assets Oasis (RAK DAO) was launched in Dubai in the second quarter of 2023. This free trade zone, also called Freezone, is aimed primarily at companies in the field of cryptocurrencies. It is a "purpose -determined, innovation -promoting freezone for non -regulated activities in the field of virtual assets". Here you can find companies that work with innovations such as metavers, blockchain, utility tokens, virtual asset wallet, non-fungable token (NFTS), decentralized autonomous organizations (DAPPS) or web3, the best conditions.

The RAK Digital Assets Oasis strives to become a global hub for companies that want to be 100% owner of their business idea and who want to benefit from the favorable conditions in the United Arab Emirates. It should be noted that although the free trade zone is based in Dubai, however, regulated activities will only follow at a later date. The ESCA is one of the most important financial supervisory authorities in the VAE and responsible for virtual assets at the federal level, unless there are their own financial authorities for the free trade zones.

The RAK Digital Assets Oasis will be one of 40 multidisciplinary free trade zones in the United Arab Emirates, which have attracted numerous crypto, blockchain and web3 companies in recent years.

If you plan to found your company in Dubai and benefit from the many advantages that the city offers, you can rely on Dubai. With extensive experience and expertise in the start -up in Dubai, Dubai offers a wide range of services to support you with every step of the process. From choosing the right legal form to the registration of your company and renting business premises, Dubai is your competent partner. The Dubai team is at your side to ensure that your way to the crypto world is successful in Dubai.