Dubai is an important place in the financial map of the world. And is a home to some of the richest selling traders in the whole world. Dubai is an Islamic city which follows a number of strict religious customs and laws. Forex brokers in Dubai are needed to follow the Sharia laws which are considered to satisfy the different Islamic beliefs. But the Middle East are famous for their traditional approach to business. Dubai is very much kind and straight forward in its approach by providing a number of opportunities for global firms. And it proved you to form your base in a fairly tax free environment. Forex trading license in Dubai has raise a huge amount of interest among investors from Dubai.
Forex trading license in Dubai
The Gov’t of Dubai has form a free controlling authority. The purpose of this authority is to run the regulation of all financial units working in the country. The DFSA was launched in the year 2004. It works along side the DIFC that acts as a high class economic zone to attract more people in this sector. DIFC is one of the very rare opportunities for potential investors. So that they can establish a financial business in the region that allows 100% overseas ownership. Traditionally, all businesses in the UAE need a company to have a local UAE citizen with 51% of shareholder. However, the concepts of free trade zone empower Dubai to come across as a business friendly nation. That allows 100% ownership as well as offers an exclusive opportunity for companies to form shop in Dubai. Local authority has almost no interference in your business.
The beauty of Forex trading is the exchange from one currency to another at a mutually agreed rate. A 24 hours a day, 5 days a week Business, Forex is a $3 Trillion business around the globe. Forex is also known one of the largest exchange markets in the world; along with the stocks as well as bonds market. More and more people are revolving to Foreign Exchange Trading as a way of financial protection as well as investment. The prevalence of creating forex trading license in Dubai is always increasing. It makes Dubai one of the future platform for the eventual trading experience. Trading license in Dubai is generally used by locals as well as expats alike.
Forex Trading License in Dubai
Only DMCC and DIFC offer a Forex Trading license in Dubai. Companies whose main activities are based on the trading of their own money in Forex; Over the Counter (OTC) as well as Exchange Traded Derivatives on regulated exchanges.
What are the financial instruments which you are looking to trade?
Are you looking to nurture currency from third party clients?
Upon providing the details of all the above questions, below are few other documents that are required by the authority.
Cost to get a Forex Trading license in Dubai
The estimated cost of forex trading license in Dubai is up to AED 32,000 or $ 8,720. The investor will pick whether to take an office or choose a Flexi Desk. To choose this option you need to keep in mind the number of visa. As the number of visa is depend on the size of an office
Share Capital Requirements
In DMCC you need a share capital of 50,000 ($ 13,625). You need to deposit this amount in your bank account as well as you need to show a bank letter.
Pros of Forex Trading License in Dubai
Exchange markets are relatively broad and definitely risk-based. In such a market, Forex Trading generally comes as a First choice for maximum traders or investors. Due to its easy start up rules, user friendly platforms as well as a very minimal deposit to start with. Many people have start Forex Trading firm in Dubai for its fast and easy setup process. Where there is 0% income as well as corporate tax.
Benefits of Forex Trading is that it is recession proof. You can trade at anytime, anywhere in the world with a computer as well as internet connection. It is risk manageable and has high liquidity as well as low transaction cost.
Cost for setting up Forex Trading Business
The setup cost of this kind of a license is 32000 AED. And also you must need to choose your office space. It can be flexi desk or a proper office and then acquire approval from authorities.
You need to have minimum of 50,000 share capital. You also need to show a bank guarantee letter to DMCC authorities.
Benefits of Forex Trading Business in Dubai
When it comes to the exchange market. People seem frightening to invest their money and in that case Forex Trade becomes the first choice of investors. Also, it is very easy to start this kind of business with minimal deposits and user friendly. Many investors start their Forex trading business in Dubai for its easy setup. And also for 0% income tax or all other kind of corporate tax.
As a most trading business, you will get majority of clients or investors just in limited time. And corporate environment of Dubai will support you to reach your goals faster.
Forex Trading is collapse proof through which you can trade anytime, anywhere in in the world. You just need a computer and internet along with a low transaction costs.