Crypto and Web3: where to set up and which licence you need

Define your type of activity first

Everything depends on the type of activity: whether a licence is needed, which regulator is responsible and which bank will agree to work with you.

• Exchange, broker, custodian, payment services. A licensed activity that requires the relevant regulator.
• Token project and foundation. Requires a structure with a separate entity for the token and an operating company for development.
• Web3 studio, development, NFT, GameFi. Often not licensed, but the activity must be legally characterised.
• Trading and investment company. Management of your own capital; the structure depends on the sources of funds.

Where to set up: main options in the UAE

• Dubai and the VARA licence: a separate virtual assets regulator
• ADGM in Abu Dhabi: a financial centre with its own regulation
• DIFC in Dubai: a financial centre with a regime for tokens
• Free zone for Web3: companies without licensed activity

For the full comparison, including other countries, see the article “Where to set up a crypto company”.

Three ready-made solutions

1. Web3 studio or developer. An operating company in a free zone and a separate holding company that owns the code, the brand and the stake in the studio.
2. Token project. A foundation for the token and the ecosystem, an operating company for development and a separate treasury company. In detail: structure with a foundation.
3. Licensed platform. A company under the licence of the chosen regulator, a holding company above it and accounts at several banks.

Bank account

For a crypto business, opening a bank account is harder than in other niches. Details and preparation: account for a crypto company.

Where to start

Tell us what exactly your project does. We will determine the type of activity, propose a jurisdiction and an ownership structure, and agree it with a virtual assets lawyer.

Regulatory requirements change quickly. Before launch, current conditions must be verified with a virtual assets lawyer. The decision to open an account is made by the bank. Tax consequences depend on your residency.