- Firms already licensed in Singapore, Abu Dhabi, and Hong Kong will have benefits.
- Companies can now receive a regulatory license and obtain banking access immediately.
- Priority sectors can get a 0% corporate tax rate, depending on how much they invest.
Bhutan’s ambitious Gelephu Mindfulness City plan has introduced a fast‑track licensing process to draw in global finance and crypto firms. This is another clear sign the country is angling to become a hub for fintech and blockchain.
According to Bhutan Times, firms already licensed in big financial hubs like Singapore, Abu Dhabi Global Market (ADGM), and Hong Kong can now get a streamlined onboarding process inside Gelephu Mindfulness City.
A notable part of this initiative is the integration of company setup, regulatory sign‑off, bank account access, and going live into one unified, coordinated process.
Under the new setup, companies can reportedly set up in GMC, get regulatory approval, open a DK Bank (Bhutan’s leading digital-first bank) account, and start operating all at once. That’s different from a lot of jurisdictions, where there is often a long wait between getting a license and obtaining banking access.
DK Bank’s Role
The DK Bank has been specifically designed to support globally active financial and digital asset companies from the outset of their operations.
It offers multi‑currency accounts in nine major currencies, including USD, GBP, EUR, AUD, JPY, SGD, INR, HKD, and BTN, which helps run an international business smoothly. The bank also offers digital asset services like Bitcoin‑backed lending and asset swaps, helping crypto businesses manage liquidity efficiently.
Additionally, it has built‑in on‑ and off‑ramps to move between fiat and crypto the right way. GMC companies get a preferential fee deal where banking fees are completely waived for at least the first six months, then discounted after that.
GMC’s Tax and Regulatory Framework
Bhutan’s been working on making the Gelephu Mindfulness City into a financial innovation hub for some time now. As such, it comes with a full tax and regulatory setup aimed at helping businesses grow.
One of the main perks is the fact that priority sectors can get a 0% corporate tax rate, depending on how much they invest.
Just like Singapore and Hong Kong, the tax system is territorial, meaning tax is only paid on local income. There is no capital gains tax, no dividend tax, and no inheritance tax, making it easier to move capital and pass wealth down.
Also, foreign talent is tax‑exempt through 2030, and double taxation agreements are already in place and growing, including one with Singapore.
Related: Bhutan Has Sold 70% of Its Bitcoin Reserves in the Past 18 Months
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