Bhutan’s Gelephu Mindfulness City launched an accelerated licensing pathway on Tuesday, giving companies already regulated in Singapore, Abu Dhabi Global Market, or Hong Kong a direct route to full operational status, with a guaranteed bank account included.
Key Takeaways:
Gelephu Mindfulness City launched an accelerated licensing pathway on May 12, 2026, targeting firms already regulated in Singapore, ADGM, or Hong Kong.DK Bank guarantees corporate accounts for all GMC-licensed companies, supporting 9 currencies and BTC-backed lending from day one.GMC offers 0% corporate tax for qualifying firms and foreign talent tax exemptions through 2030, positioning the SAR as a regional financial hub.The integrated model connects directly to DK Bank, Bhutan’s state-linked financial institution, and GMC’s official banking partner. Every company that earns a GMC license receives a corporate account with DK Bank as part of the process. That removes what regulators and founders commonly describe as the most stubborn friction point in setting up operations in a new jurisdiction: getting licensed in one place, then waiting months for a bank to decide whether to take you on.
“In most financial centers, getting licensed is only half the battle,” said Yu Dong Zheng, CEO of DK Bank. “Getting a bank account is where companies get stuck. We’ve removed that bottleneck.”
GMC’s tax structure adds to the appeal for firms considering international expansion. The region operates a territorial tax system aligned with Singapore and Hong Kong. Qualifying companies can access a 0% corporate tax rate depending on their level of investment. There is no capital gains tax, dividend tax, or inheritance tax. Foreign talent tax exemptions run through 2030.
For legal infrastructure, GMC uses common law frameworks drawn from Singapore, with regulatory principles modeled on ADGM. The region offers Variable Capital Company structures based on Singapore’s VCC model and operates an International Dispute Resolution Centre for cross-border investment disputes. A double taxation agreement with Singapore is already in place.
Ceffu CEO Ian Loh, whose firm went through GMC’s licensing process, said the approach stood out for its clarity. “What stands out in Bhutan is the clarity of vision,” Loh said. “The process has been rigorous, but equally collaborative, demonstrating that regulators and industry can work hand in hand.”
John Ge, co-founder and CEO of BIT (formerly Matrixport), said the design of the ecosystem reduces execution risk for firms entering a new market. “The accelerated review process is both fast and pragmatic, with the GFSO demonstrating a clear openness to engage constructively while upholding high standards,” Ge said.
Jigdrel Singay, board member and digital assets and fintech lead at GMC, framed the initiative as a structural fix to a systemic problem. “If a company has already demonstrated credibility in leading jurisdictions, we recognize that and enable them to move faster,” Singay said. “Companies don’t just get approved. They get operational.”
