Gelephu Mindfulness City: Instant Banking, Zero Taxes, and Fast-Track Licensing for Global Firms

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Gelephu Mindfulness City launches accelerated pathway for globally regulated firms

Gelephu Mindfulness City (GMC) is making it easier for companies already approved in leading financial hubs like Singapore, Abu Dhabi Global Market (ADGM), and Hong Kong to get licensed. This new process speeds up operations by connecting regulatory approval directly with access to banking services.

This system helps approved companies quickly become fully operational with a streamlined, single process. Unlike most places where getting a license and opening a bank account are separate steps, GMC combines them. When a company receives its license, it automatically gets a business bank account with DK Bank, allowing it to start operating immediately.

Jigdrel Singay, a leader at Gelephu Mindfulness City focused on digital assets and fintech, explained that the city aims to simplify processes for businesses. If a company has already proven its trustworthiness in other well-established locations, GMC will help them get up and running quickly.

This system allows businesses to handle everything from initial registration and legal approvals to opening accounts and starting operations all in one streamlined process. Companies already approved in established financial hubs can benefit from a faster review process, as their existing approvals mean less repeated work.

According to Singay, this faster process, along with instant banking access, completely streamlines how companies get started. They’re not just approved, they can begin doing business right away. The company’s aim is to build a reliable platform for digital assets and financial advancements, ensuring that regulations, technology, and implementation work together seamlessly from the beginning.

A crucial part of this system is ensuring businesses have access to banking services. Companies approved to operate within the system automatically receive these services as part of their approval, which solves a common problem in other places where getting a bank account can hold up operations.

DK Bank CEO Yu Dong Zheng explained that while obtaining a license is a major hurdle for financial companies, actually opening a bank account often proves to be the bigger challenge.

DK Bank offers accounts in multiple currencies, like US dollars, euros, British pounds, and Japanese yen. They also provide digital asset services, including loans secured by Bitcoin and asset swaps. Businesses, especially those within the GMC, can easily convert between traditional money and cryptocurrency with DK Bank and benefit from reduced fees.

As a researcher following developments at DK Bank, I’ve learned they’ve eliminated a key obstacle for companies joining the Global Market Connect (GMC). Now, businesses setting up within GMC can start operating immediately, with integrated banking services. According to Zheng, their goal is straightforward: to become the leading bank for Web3 and fintech companies globally.

GMC has also created a new set of rules for taxes and business that are designed to encourage long-term investment and growth. This includes a tax system based on where income is earned, no taxes on profits from investments or dividends, and special tax breaks for certain industries – potentially even a 0% corporate tax rate for companies that invest heavily. Other benefits include tax-free status for skilled foreign workers until 2030 and more agreements with other countries to avoid double taxation.

This jurisdiction offers a modern, internationally-aligned system for businesses. It features company structures similar to those in Singapore, a center for resolving international disputes, and a legal system based on the principles of Singapore and Abu Dhabi Global Market. Setting up companies and family offices is now simpler and less bureaucratic.

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2026-05-13 19:06