Crypto and Blockchain Firms Constitute 16% of UAE Free Zone's Record Q1 Company Registrations
Crypto and blockchain firms constituted 16% of the 655 new company registrations that were recorded in Q1 of 2022, the Dubai Multi Commodities Centre has said. The surge in crypto-related registrations also coincided with a quarterly period in which the DMCC is reported to have recorded its “highest Q1 performance” since inception.
The global economic climate remains challenging, however, Dubai’s reputation as a world-leading business destination is stronger than ever, and DMCC sits at the very heart of this international appeal. Registering 665 new companies in the first three months of 2022 is another record broken for DMCC, and serves to show the huge potential on offer when joining our Free Zone in Dubai.
DMCC will continue with its efforts to attract ambitious firms that may be looking to set up in Dubai, Sulayem added.Meanwhile, in the statement, DMCC revealed its key markets — namely India, U.K., Germany, and France — had performed better than in previous, similar quarters. According to the statement, Dubai company formations from China grew by 34%.
DMCC’s specific outreach programs to markets like Israel and Turkey resulted in quarterly company registrations originating from these jurisdictions rising by 350% and 100% respectively. According to the statement, DMCC has seen increased interest from trading hubs such as Indonesia and Vietnam.
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