When a free zone is suitable
If you develop products, support blockchain projects, create NFT collections or games and do not provide regulated financial services, an ordinary free zone licence may be enough.
Which zones are considered
A number of zones offer separate programmes for Web3 and blockchain companies, for example DMCC (Crypto Centre) and RAK DAO. Programmes and conditions change and must be clarified before choosing.
An important caveat
Even when developing a product, you need to check whether the activity falls under regulation: for example, if you accept and hold clients’ assets or exchange tokens. A legal characterisation is worth carrying out before registration.
Structure
The studio operates in a free zone, while the rights to the code, the brand and the tokens are held by a separate holding company. This makes it easier to bring in an investor and protects the intellectual property.
Regulatory requirements change quickly. Before launch, current conditions must be verified with a virtual assets lawyer. The decision to open an account is made by the bank. Tax consequences depend on your residency.