Why RAK DAO?
Advantages
- Innovation. RAK DAO is not afraid to include activities that are at the forefront of advanced technologies. And if there is no such activity - the frizona is ready for new proposals.
- Speed. The managers of the frizona quickly and informatively answer questions that are important for the stable operation of the project after the launch in RAK DAO. Moreover, although any frizona pays much more attention to crypto projects than to more traditional business models, it is possible to legalize a business really quickly.
- No unnecessary barriers. RAK DAO does not require a large amount of information and does not impose excessive requirements, for example, to management, office or reporting.
- The documentation can be processed in English. RAK DAO, like the UAE as a whole, supports the use of English in the business environment, including at the official level.
- Innovation. RAK DAO is not afraid to include activities that are at the forefront of advanced technologies. And if there is no such activity - the frizona is ready for new proposals.
- Speed. The managers of the frizona quickly and informatively answer questions that are important for the stable operation of the project after the launch in RAK DAO. Moreover, although any frizona pays much more attention to crypto projects than to more traditional business models, it is possible to legalize a business really quickly.
- No unnecessary barriers. RAK DAO does not require a large amount of information and does not impose excessive requirements, for example, to management, office or reporting.
- The documentation can be processed in English. RAK DAO, like the UAE as a whole, supports the use of English in the business environment, including at the official level.
Restrictions
- It is not possible to legalize with highly regulated activity. If you want to create a crypto exchange, become a broker-dealer in the crypto-currency sector or start issuing tokens - you are not here.
- Not the most favorable location of the frizona. RAK DAO is located approximately one hour's drive from Dubai. And although this is a small distance from the huge crypto hub, the frizona is not located in the emirate with a loud name and significant reputational weight.
Who is suitable for incorporation in RAK DAO
- DAO.
- Mining.
- Trading crypto-assets to form your own asset package.
- DeFi wallet.
- Different blockchain services.
- Other activities not directly under the control of cryptoregulators.
Cost
The level of expenses for legalization in the jurisdiction is high.
- Registration fee for the company: depends on many factors, including the type of selected activity, their number and other factors, but, as a rule, the size of the fees varies from USD 3,600 to USD 14,000.
- Authorized capital: there are no requirements for the minimum size and its actual payment.
Main stages of legalization
- Collection of documents and submission of the application form for registration.
- Agreement of the company name with freezone and submission of data on the founders.
- Preparing and submitting business plan and questionnaire, providing responses to freezone comments.
- Signing incorporation documents and paying state fees.
- Passing compliance and final approval of freezone, issuance of license and incorporation documents.