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mebuq

New member
I'm trying to create a company in Dubai for crypto trading (license for a crypto trading business, something that is now offered by the DMCC). I need to select a bank where the business account will reside.
The DMCC explicitly mention in their documentation that "we do not guarantee the creation of a bank account". I guess it's because of the known hostility that banks have to crypto. I still need to try. What I'd like to figure out is which banks are more likely to grant a bank account for my business? I'll use this account for transfers to/from exchanges such as binance and kraken.
I have an account in Binance and my banks are UAE banks and my transfers were very smooth, they were not small amounts. I never had a problem.
 

Marc Rich

Mentor Group Gold
Hi, I might have a solution for you. I will send you a PM
 

alphadesertfox

New member
Have a look into RAK bank too. I know that's who BitOasis use as their legacy banking partner (unless it's changed in the past few years). I would definitely recommend having multiple business and personal bank accounts in Dubai though. And make sure you get one that will do cross-border AED to AED transfers so that you can use FX brokers for getting money out the country otherwise you're stuck with the Bank you're at and their FX fees.
 

medalik

New member
Have a look into RAK bank too. I know that's who BitOasis use as their legacy banking partner (unless it's changed in the past few years). I would definitely recommend having multiple business and personal bank accounts in Dubai though. And make sure you get one that will do cross-border AED to AED transfers so that you can use FX brokers for getting money out the country otherwise you're stuck with the Bank you're at and their FX fees.

Thanks for sharing!
 

bk9

New member
Hey, keep us posted plz, I've been thinking to do the same via DMCC since cashing out crypto in Egypt is pain in the ass
 

bk9

New member
Just to add, I've reached out to DMCC, here's their rates
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fbsworld

New member
I'm trying to create a company in Dubai for crypto trading (license for a crypto trading business, something that is now offered by the DMCC). I need to select a bank where the business account will reside.
The DMCC explicitly mention in their documentation that "we do not guarantee the creation of a bank account". I guess it's because of the known hostility that banks have to crypto. I still need to try. What I'd like to figure out is which banks are more likely to grant a bank account for my business? I'll use this account for transfers to/from exchanges such as binance and kraken.
FYI, there is a online conference organized by DMCC on 22 sept. 2021 11:00 AM - DMCC Crypto Centre – how to apply for a licence: Welcome! You are invited to join a webinar: DMCC Crypto Centre – how to apply for a licence. After registering, you will receive a confirmation email about joining the webinar.
 

bk9

New member
Any one tried to set up LLC in usa via stripe Atlas or firstbase, then we could withdraw through FTX (leading us exchange) if it works it'll be better deal than Dubai. Any thoughts?
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
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