Maximise your Metaverse potential, giving you daily rewards and a passive income of 0.5% daily I'm going in!

Cryptographic Valley in Dubai's Tax-Free Zone

4 min reading

The authorities of Dubai have announced that a cryptographic valley in the national Tax-Free Zone (no personal and legal income tax) will be launched. Thanks to the help of Swiss crypto-valley partners, Dubai will be offering different services, including startup incubators, blockchain trainings and coworking facilities.

Cryptographic valley in the Dubai's "free zone"

On Thursday, a Dubai government entity, DMCC (Dubai Multi Commodities Center), made an announcement at Davos 2020 in which it informed about launching a cryptographic valley in its so-called "free zone" in the heart of one of the business districts. The DMCC explained that the valley was created in order to support growth, cooperation and integrity in the global blockchain industry.

"The ‘DMCC Crypto Valley’ will offer a variety of services including incubation for early-stage startups, co-working facilities, innovation services for corporate clients, blockchain and entrepreneurship training, education, events, mentoring and funding."

Free zones are special economic zones which offer simplified procedures and financial benefits (no income tax, for instance) for companies representing specific sectors. Every zone, though, has its own administration, different registration conditions and operating rules. In the United Arab Emirates (UAE) there are at least several dozen of zones of this type, of which more than 30 is located in Dubai. The zones have proved to be an essential part of the UAE's success in encouraging regional and international companies to locate their businesses on the territory of the country.

The DMCC was founded in 2002 and its main goal is to provide a physical, market and financial infrastructure which is necessary to create a global trade center in goods. Its free zone offers its members a number of benefits, including 0% income tax from natural and legal persons. The members of the zone may also, without any restrictions, transfer all their profits back to their home countries.

The DMCC, which is located in the center of Dubai, is home to as many as 100,000 people and 17 thousand member companies (both startups and international corporations). It is worth noting that in 2019, the DMCC received, for the fifth time in a row, a "Global Free Zone of the Year" award from Global Times Fdi magazine. The competition included 85 free zones from around the world.

"The launch of the crypto valley in DMCC will enhance the city’s dynamic business environment, and support the wider strategy of the UAE government to attract the innovators, entrepreneurs and pioneers that will shape the future economy".

- says the CEO of DMCC, Ahmed Bin Bulayem.

Partners from the Swiss crypto-valley

In order to launch the cryptographic valley, DMCC partnered with the Swiss investment company, Crypto Valley Venture Capital (CV VC), and its subsidiary CV Labs. The cooperation was established as an answer to the need of developing a comprehensive DMCC Blockchain Strategy, a strategy which is in line with the Emirates Blockchain Strategy 2021. This, in turn, supports the Dubai Blockchain Strategy, initiated by Hamdan ibn Muhammad ibn Rashid Al Maktum (called Fazza), the Prince of Dubai and the Chairman of the Dubai Executive Council. The agreement between the companies was signed during the World Economic Forum in Davos.

"We are thrilled to move into the MENA [Middle East and North Africa] region with DMCC as a strong local partner."

- said Ralf Glabischnig, the founder of CV VC and CV Labs.

Currency Exchange rate Buy cryptocurrency

Maximise your Metaverse potential,
giving you daily rewards and a passive income of 0.5% daily

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Ommyo.Net ( Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Ommyo.Net c/o Fintech Labs Global Solutions, Unit 303, Ile Du Port, Mahe, Seychelles

The full document to read the ommyo privacy policy is available in this document.

Advanced settings can be changed in your browser.