11 steps to register a DMCC Proprietary Cryptocurrency Trading Company
Since 2003, Healy Consultants Group 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. The company registration process follows:
- Consultation phase – prior to commencing the DMCC prop crypto company set-up, we discuss i) our Client’s business goals, ii) requirements for their new entity, iii) recommend the optimal structure for the entity, if required iv) fees payable for the engagement; and v) potential licensing requirements. Thereafter, Our Client i) settles Healy Consultants Group’s engagement fee; ii) signs and returns our Client Engagement Letter; iii) provides us all the due diligence documents, required by our Compliance Team;
- Planning phase – we supply our Client with a detailed project plan, mapping out weekly deliverables to engagement completion; including i) DMCC prop crypto company branch incorporation; ii) tax registration, if applicable; iii) corporate bank account opening; and iv) obtaining applicable licenses, thereby increasing transparency as well as setting Client expectations and minimizing disruption to project completion;
- Securing pre-approval for business activity – we prepare 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;
- Management and Compliance check – post securing the business activity pre-approval from DMCC for our Clients proposed business, Healy Consultants Group as the appointed consultant on behalf of our Client complete a quality company registration application on the DMCC portal through a dedicated client account access allocated by DMCC Authority;
- Name Reservation and Provisional approval – All going well, we secure a name reservation for our Client’s preferred company names and secure a provisional approval for setting-up our Client’s business in DMCC. The provisional approval letter can now be used to initiate the corporate account opening as well as signing the lease contract for our Client’s company;
- KYC verification with DMCC – we arrange a video verification call with DMCC, wherein our Client and all executives from the corporate structure will verify their identity and contacts with DMCC. Healy Consultants Group will handhold the Client throughout the process to ensure timely completion;
- Office space finalization and signing lease agreement – we will identify multiple office premise solutions for our Client including, i) flexi-desk, ii) serviced offices solutions, iii) un-serviced office spaces based on Client requirements. Thereafter, we will assist in the finalization, negotiation and signing of the lease agreement for our Client’s DMCC company;
- Document Submission to DMCC Authority – Healy Consultants Group will then i) original certified company documents, if required and ii) signed lease agreement;
- Following DMCC company incorporation, our Firm immediately emails our Client with the i) Certificate of Registration, ii) DMCC business license, iii) Share Certificate, iv) Memorandum of Articles, v) Shareholder meeting minutes;
- Bank account opening – Healy Consultants Group assists our Client apply for a corporate bank account for their business. Our Team helps our Client prepare a quality updated business plan for the bank to optimize the probability of corporate bank account approval.
- Licensing – Assuming our Client’s business requires additional regulatory license, Healy Consultants Group will be happy to assist our Client navigate the UAE regulatory environment and obtaining the necessary licenses from the relevant Government Authorities.
ConclusionFollowing the receipt of all necessary approvals and documents, Healy Consultants Group supplies a full company kit to our Client, including original corporate documents, unopened bank correspondences, and lastly a Client feedback survey to make sure that all the Client expectations were met during the entire engagement period.