RAK DAO Legal Disclaimer: This page contains important legal information about RAK DAO and its services. Please read carefully before using our website or services.
Each company incorporated in the Zone must comply with Federal Law when engaging in its business activities in the UAE. Accordingly, no company may engage in any business activity in the UAE, whether inside or outside the Zone (within the meaning of Article 5 of Federal Law No. 32 of 2021 concerning Commercial Companies), unless it has first obtained all applicable licenses and/or approvals required for the purposes of its activities from the competent governmental or regulatory authorities in the UAE.
Without limiting the generality of the foregoing, licenses may be required if any of the Company’s activities involve financial products, currencies, virtual assets, or commodities and include:
- Acting as an exchange
- Acting as a broker/dealer
- Providing advice or custody services
- Providing electronic payment services
- Marketing, promotion, or solicitation
It is your responsibility to conduct your investigations and evaluations of your intended business activities to determine whether they constitute regulated activities that require a license and/or approval from the UAE’s relevant governmental or regulatory authorities. You should seek legal advice if you are unsure whether your intended business activity constitutes a regulated activity.
RAK DAO is not liable for a company’s failure to obtain the relevant licenses and/or approvals from any governmental or regulatory authority in the UAE. RAK DAO is also not responsible for reviewing or verifying the intended business activities of the company to determine whether they constitute a regulated activity requiring a license and/or approval from the relevant governmental or regulatory authorities in the UAE.
For more legal information, please refer to the Ras Al Khaimah Digital Assets Oasis Companies Regulations 2023 (“Companies Regulations”)