Administration of financial markets

Mixed · depends on counterparty

Forensic Analysis

DZ requiredSubstance: HIGHAI-derived

Under the UAE Corporate Tax framework, the administration of financial markets is classified as a regulated financial service activity. Pursuant to the definitions of Excluded Activities for Qualifying Free Zone Persons, income derived from regulated financial services (unless specifically carved out) is subject to the standard 9% rate. Forensic focus is on the distinction between market operation and ancillary technology services.

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Legal Reference

Ministerial Decision No. 229 of 2025, Article 3, Clause 2(g)

Audit Red Flag

Attempting to recharacterize 'Excluded' financial service income as 'Qualifying' investment management or head office services.

7 licensable activities under this classification

Centralised Exchange OperatorExternal approval required

Cryptocurrency Trading Platform OperatorExternal approval required

Decentralised Exchange OperatorExternal approval required

Digital Asset Market OperatorExternal approval required

Issuing of Covered warrantsExternal approval required

VA Exchange ServicesExternal approval required

Virtual Asset Exchange OperatorExternal approval required

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