Securing one of the first few DMCC proprietary crypto trading business licenses for our Cypriot client

Since 2003, Healy Consultants Group PLC helps multi-national Clients’ register a DMCC Proprietary Cryptocurrency Trading company. Within 6 weeks, the business entity will be incorporated, without shareholders and directors’ travel.

Our Client is a Cyprus national that has multiple software and IT businesses across the globe. The Client is an early investor in cryptocurrencies and has been trading in individual capacity for the past 6 years.

Given the magnitude of the opportunity in the cryptocurrency space, our Client wants to start trading large volume under a corporate entity to be able to organise specific functions. The Client was also actively tracking the opportunities to open an crypto-exchange as well as crypto advisory services over the coming years.

Engagement planning

  • Our Engagements Manager, Mr. Apurv Trivedi had a detailed discussion with our Client to understand their requirements, rationale behind setting up a corporate entity.
  • After a face-to-face meeting with our Client, Apurv recommended our Client to set-up their business in DMCC as, i) it is one of the few Free Zones that offers a proprietary trading for crypto currencies, ii) is actively working with the Securities and Commodities Authority (SCA), UAE to facilitative other different types of crypto-business and iii) expect DMCC to become the global hub for crypto businesses over the coming years.
  • Our Client was interested to proceed with Healy Consultants Group PLC, Apurv prepared and emailed our Client an engagement advancement proposal and the formal invoice for a retainer fee initially to secure a pre-approval from DMCC to set-up a business with the desired business activity.
  • Our Client promptly provided the requisite due diligence documents and settled our professional fee. Thereafter, we prepared i) a detailed Engagement Project Plan mapping out steps to engagement completion and ii) a quality business plan to assist to secure a DMCC pre-approval.

DMCC Proprietary Crypto Trading Company Incorporation

  • We prepared our Client’s pre-approval request to DMCC including preparation of a i) DMCC Crypto Assets forms and ii) a detailed business plan draft, inclusive of a) professional and personal background of our Client; b) reasons for incorporating in DMCC; c) estimated financial figures and bank account volume expectations and d) compliance and risks practices.
  • After multiple rounds of discussions with DMCC Management, Healy Consultants Group PLC was successful in securing business activity pre-approval from DMCC for our Clients proposed business.
  • Thereafter, through the portal access allocated to Healy Consultants Group PLC as the appointed consultant to our Client, Apurv completed a quality company registration application.
  • Within 2 weeks, we secured the name reservation for our Client’s preferred company name and secured a provisional approval for setting-up our Client’s business in DMCC. Thereafter, Apurv, leveraging Healy Consultants Group PLC relationships, secured a discount of US$5,200 for our Client’s lease agreement for the 1st year.
  • Apurv arranged a video verification call with DMCC, wherein our Client verified his identity and contact details. Once the verification was complete, Healy Consultants Group PLC completed the license payment for our Client’s business for DMCC company set-up.
  • Within 2 weeks thereafter, Healy Consultants Group PLC supplies our Client, with the scans of company incorporation documents including, i) Certificate of Registration, ii) DMCC business license, iii) Share Certificate, iv) Memorandum of Articles, v) Shareholder meeting minutes.

Engagement completion

  • Following engagement completion, Healy Consultants Group PLC handed the full company kit to our Client, including DMCC corporate documents.
  • E-banking log in
  • Template sales invoice
  • Client feedback survey
  • Timely accurately and completely discharge their legal, accounting, audit and tax obligations

Contact us

For additional information on our business setup services in DMCC Free Zone, please contact our in-house country expert, Mr. Apurv Trivedi, directly:
Consultant at HC - apurv
  • Mr. Apurv Trivedi
  • Client Relationship Officer
  • Contact me!