- June 14, 2021
- Posted by: Aswani
- Category: News
Dubai Airport Free Zone Authority (DAFZA), one of the most prestigious and advanced free zones in Dubai, has recently entered the crypto assets market. The free zone is collaborating with the Securities and Commodities Authority (SCA) to support the regulation, offering, issuance, listing and trading of crypto assets within DAFZA.
SCA will issue the required approvals and licenses for companies that trade with crypto assets and crypto currencies in DAFZA. SCA will be in charge of issuing, listing and trading of crypto assets and licensing related financial activities within DAFZA.
The agreement will boost the cryptocurrency sector and promote the use of blockchain in not just Dubai, but the whole of UAE. “The signing of the agreement confirms the two parties’ keenness to develop its cooperation in common areas of work, which contributes to achieving the objectives of the national agenda and the government’s strategy to enhance economic growth. Under the directives of Abdullah bin Touq, Minister of Economy and Chairman of the Board of Directors of the Securities and Commodities Authority, we aim to strengthen our collaborations and exchange experiences and knowledge with various government entities, agencies and institutions, and work as a team to achieve our common goals,” said Dr Maryam Al Suwaidi, Acting CEO of the Securities and Commodities Authority.
“The terms included in the agreement are set to establish a strategic partnership, which allows the provision of distinguished professional services while specifying the responsibilities and obligations of each of the two parties. It also provides a reliable and timely support to each party regarding any matters falling within the scope of this agreement and sharing the best practices of relevant markets. This initiative supports both entities to achieve its strategic and organizational goals. It aims to exchange technical support in order to enhance the ability of the two parties to mutual understanding and familiarity with the financial systems both entities use,” Al Suwaidi added.
DAFZA has expanded its business licenses and commercial activities via this partnership and it will be combined with the incentives and services offered by the free zone. DAFZA will also see to it that an advanced regulatory framework and flexible legislative environment to boost the foreign investor experience, is provided.
DAFZA houses more than 1,800 registered companies and 17,000 professionals. The free zone is on a constant move to attract foreign investors and via expanding the scope of its licenses and services, along with various other initiatives, DAFZA has been successful in achieving its goal.
One can find diverse office package solutions at DAFZA that include Smart Desk Package, Business Desk Office Package, Business Enabled Office Package, Bronze Office package, Gold Office package, Silver Office package and Platinum Office package.
Setting up a business at DAFZA is quite an easy process, provided you have the guidance of a reputed consultancy in UAE. AON Management Consultants has assisted numerous companies start their business at DAFZA and all other prominent free zones in UAE. We take care of the entire business incorporation process for you.