Gelephu Mindfulness City (GMC), Bhutan’s Special Administrative Region for economic development, has announced a new accelerated licensing pathway for companies already regulated in major global financial centres, including Singapore, Abu Dhabi Global Market, and Hong Kong.
The initiative is designed to allow qualified firms to move from application to operational readiness in a shorter timeframe by combining expedited regulatory review with direct access to banking infrastructure.
Unlike many jurisdictions where licensing and banking are handled separately and can result in long delays even after approval, GMC said the two processes are integrated.
Companies that incorporate and obtain a license in GMC are also provided with a corporate bank account through DK Bank as part of the process, allowing operations to begin immediately.
Under the framework, firms can complete incorporation, obtain regulatory approval, open a bank account, and begin operations through a single coordinated process.
GMC said the approach is intended to reduce duplication, maintain regulatory standards, and help credible firms expand internationally with greater speed and certainty.
Companies obtaining a license in Gelephu Mindfulness City will also receive a guaranteed corporate account with DK Bank, addressing one of the most common operational hurdles for financial and digital asset firms.
DK Bank is designed to support globally active financial and digital asset companies from launch, offering multi-currency accounts across nine major currencies — USD, GBP, EUR, AUD, JPY, SGD, INR, HKD, and BTN — to facilitate international operations.
The bank will also provide digital asset financial services, including Bitcoin-backed lending and asset swap capabilities, integrated fiat-to-crypto and crypto-to-fiat rails, and preferential pricing for GMC-licensed firms.
This includes waived banking fees for at least the first six months, followed by discounted rates thereafter.
What more does GMC offer?
In addition to its licensing framework, Gelephu Mindfulness City said it offers a broader tax and regulatory structure aimed at supporting business activity, capital formation, and long-term investment.
The framework includes targeted incentives for priority sectors, including potential 0% corporate tax rates depending on the scale of company investment.
GMC also operates under a territorial tax system similar to those used in financial centres such as Singapore and Hong Kong.
The region said it does not impose capital gains tax, dividend tax, or inheritance tax, while foreign talent tax exemptions are planned through 2030 to support international hiring.
GMC also noted that it has double taxation agreements in place, including with Singapore, with additional agreements under development.
Beyond tax incentives, GMC said it is building institutional infrastructure aimed at international businesses.
This includes Variable Capital Company (VCC) structures modeled on Singapore frameworks, an International Dispute Resolution Centre (IDRC) for cross-border legal matters, common law principles inspired by Singapore alongside ADGM regulatory standards, and streamlined processes for company and family office setup.
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