Gelephu Mindfulness City (GMC) in Bhutan opened a fast-track licensing pathway on May 12 for global financial and crypto firms that are already regulated in top-tier jurisdictions. The streamlined process combines regulatory approval with corporate banking — and DK Bank has guaranteed account access. It's a bid to pull in established players without making them go through the usual multi-month slog.
How the fast track works
The accelerated license is open to companies regulated in Singapore, Abu Dhabi Global Market (ADGM), or Hong Kong. GMC merges licensing and banking into one coordinated step. Firms can incorporate, get the green light, open a corporate bank account, and start operations faster than the traditional route — which can take months across different agencies. DK Bank handles the banking piece. It offers multi-currency accounts in nine major currencies: USD, GBP, EUR, AUD, JPY, SGD, INR, HKD, and Bhutan's own BTN. The bank also provides digital asset services — BTC-backed lending, asset swaps, and integrated on- and off-ramps for crypto.
Banking perks and tax breaks
Firms licensed under the fast track get preferential banking terms. DK Bank waives all banking fees for at least the first six months, with discounted pricing after that. On the tax side, GMC offers a 0% corporate tax rate depending on investment levels, a territorial tax system, and no capital gains, dividend, or inheritance taxes. Foreign talent tax exemptions run through 2030. The infrastructure also includes Variable Capital Company (VCC) structures modeled on Singapore's framework, an International Dispute Resolution Centre, and common law principles inspired by Singapore with ADGM regulatory rules.
Industry backing
The initiative drew support from executives at crypto infrastructure firms. Ian Loh, CEO of Ceffu, and John Ge, Co-Founder & CEO of BIT, both endorsed the new licensing path. Neither commented on whether their own firms plan to apply.
The fast-track is live now. Companies that meet the criteria can start the application process immediately through GMC's regulatory office.
