Dubai and Abu Dhabi

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The United Arab Emirates have created several regimes for crypto-assets. Abu Dhabi Global Market, a financial free zone with its own common law courts, introduced a framework for crypto-assets in 2018. Dubai created the Virtual Assets Regulatory Authority in 2022, which licenses crypto service providers in the emirate outside the financial free zone, whereas the Dubai International Financial Centre has its own rules.¹ The Emirates offer low taxes, a regulator that actively courts the industry and access to the markets of the Gulf, South Asia and Africa. Several large crypto companies have moved their headquarters or significant operations there.

The competition from the Emirates is direct for Zug, since both attract the same kind of company with the same arguments of low taxes and regulatory openness. The Emirates have the advantages of zero income tax for individuals and of a policy that seeks the industry actively. Zug has the advantages of the Swiss legal system, a longer track record and a location in the heart of Europe. Companies weigh these factors differently, with some establishing themselves in both places.

Notes

ADGM, "ADGM launches crypto asset regulatory framework", 25 June 2018, adgm.com (framework for spot crypto-asset activities of exchanges, custodians and intermediaries); VARA, "About VARA", vara.ae: established in March 2022 by Law No. 4 of 2022, competent for the whole Emirate of Dubai including free zones but excluding the DIFC; DFSA, "The DFSA's Crypto Regime: one year on", dfsa.ae: DIFC Crypto Token regime introduced on 1 November 2022. ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

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Dubai and Abu Dhabi

Notes

Setting up or expanding in Switzerland?