A VARA license is mandatory for any entity involved in virtual asset services, including exchanges, wallet providers, asset managers, and token issuers. Whether the business operates entirely within the virtual asset space or integrates these services into a broader model, obtaining a VARA license ensures compliance with Dubai’s regulatory standards.
Launch your crypto company in Dubai with full VARA compliance
We guide you through licensing, approvals, and legal structuring under VARA so you can launch with speed, clarity, and confidence.
Virtual assets
Why Dubai for crypto companies?
Dubai offers an unparalleled ecosystem for crypto and blockchain businesses:
Crypto-friendly regulations
Supportive government policies for fintech and crypto innovation.
No corporate tax
Enjoy tax-free operations, ensuring
maximum profitability.
Global connectivity
Strategically located at the crossroads of Europe, Asia, and Africa.
Access to investors
A thriving community of blockchain investors and venture capitalists.
Advanced infrastructure
World-class facilities and digital infrastructure for scaling your business.
Not sure if VARA is the right fit?
Get a full pre-licensing assessment, completely free for a limited time. We’ll review your business model, regulatory exposure, and goals to advise whether VARA licensing is suitable, or if an alternative structure (like Anjouan or DIFC sandbox) is a better fit.
Dubai VARA license – Free advisory package (Worth AED 29,995)
Our services for crypto company setup
- Crypto licensing assistance
We help you choose and apply for the right license, such as:
- Crypto trading license: Perfect for companies looking to trade cryptocurrencies.
- Blockchain development license: For businesses offering blockchain software or solutions.
- Crypto asset custody license: Ideal for companies managing digital assets securely.
- Visa processing
We’ll assist with investor and employee visas, ensuring your team can legally live and work in Dubai.
- Bank Account Setup
Securing a business bank account for crypto operations can be tricky. We work with banks that understand blockchain businesses to get your account approved.
- Office solutions
Whether you need a physical office or a virtual setup, we’ll help you register a compliant business address.
- Regulatory compliance guidance
Navigating Dubai’s regulatory requirements can be challenging. We’ll ensure your company adheres to Anti-Money Laundering (AML) and Know Your Customer (KYC) policies, safeguarding your operations from legal issues.
- Blockchain integration support
We provide guidance on integrating blockchain technology into your operations and ensuring compliance with local regulations.
About license
Why choose VARA License?
Global recognition
Dubai’s robust regulatory framework ensures international trust and enhances business credibility on a global scale.
Innovative opportunities
Operating under a VARA license enables access to advanced financial ecosystems, fostering growth and innovation in digital assets.
Comprehensive compliance
VARA’s structured guidelines offer businesses a clear path to compliance, reducing risks and enhancing operational efficiency.
Types of licenses offered by VARA
VARA provides a range of licenses to cover all major virtual asset activities. Each license is tailored to specific business models, ensuring that all operations remain compliant with international and local regulations. The available licenses include:
01
Advisory license
Designed for professionals offering strategic guidance and consultancy on virtual asset management.
02
Broker-dealer license
For businesses facilitating the buying and selling of virtual assets on behalf of clients.
03
Custody license
Provides secure storage and management of digital assets, ensuring protection against potential cyber threats.
04
Exchange license
Allows companies to operate platforms that facilitate trading between virtual assets and fiat currencies.
05
Lending and borrowing license
Enables businesses to offer virtual asset-backed loans or facilitate borrowing options.
06
Management and investment license
Tailored for firms handling virtual asset portfolios and offering investment strategies.
07
Transfer and settlement license
Covers businesses that provide transfer and settlement solutions for virtual assets.
08
Virtual asset issuance (stablecoins)
For entities issuing stablecoins and similar digital currencies backed by tangible assets.
Licensed companies in Dubai can add or amend their activities by following the required procedures. Expert advisory services ensure a seamless transition for any such changes.
Process and timeline
How to get a VARA license in Dubai
Securing a VARA license in Dubai requires a meticulous approach to business formation and compliance. The process begins with establishing a legal business entity within the Emirate, which is a fundamental prerequisite for applying for the Virtual Asset Service Provider (VASP) license.
01
Business incorporation and setup
02
Compliance and regulatory preparation
03
Submission and review
04
Approval and licensing
The initial phase involves forming a company under Dubai’s jurisdiction. This includes:
- Company incorporation
Registering a legal entity aligned with Dubai’s corporate regulations.
- Office space
Securing a physical office location within the Emirate to fulfil regulatory requirements.
- Local personnel
Employing two responsible individuals who are either UAE residents or UAE passport holders, along with a company secretary.
Establishing these components ensures the business structure complies with VARA’s initial prerequisites.
Simultaneously, the business must prepare a comprehensive set of compliance and regulatory documents, which include:
- Identification and background checks for all key participants.
- <span data-metadata=""><span data-buffer="">Internal policies and procedures for operations and compliance.
- <span data-metadata=""><span data-buffer="">A detailed business plan outlining the nature of the virtual asset activities.
- <span data-metadata=""><span data-metadata=""><span data-buffer="">Financial projections and supporting documentation.
This step also involves opening a corporate bank account in Dubai to deposit the required share capital and to process the fees for pre-approval and licensing applications.
Once the business structure is finalised and all documents are prepared, the application is submitted to VARA. Applicants must adhere to specific rulebooks issued by VARA:
- <span data-metadata=""><span data-buffer="">Core rulebooks
Applicable to all applicants, outlining general regulatory and compliance standards.
- <span data-metadata=""><span data-buffer="">Activity-specific rulebooks
Tailored to the particular virtual asset activities the business intends to undertake.
Applicants are responsible for reviewing and aligning with the relevant rulebooks to ensure full compliance with VARA’s regulatory framework.
After thorough validation and review, VARA issues the VASP license to the company. This license is subject to annual renewal, with the business remaining under VARA’s ongoing supervision to ensure continued compliance with regulatory requirements.
Process and timeline
How to get a VARA crypto license in Dubai
Securing a VARA crypto license in Dubai requires a meticulous approach to business formation and compliance. The process begins with establishing a legal business entity within the Emirate, which is a fundamental prerequisite for applying for the Virtual Asset Service Provider (VASP) license.
Business incorporation and setup
The initial phase involves forming a company under Dubai’s jurisdiction. This includes:
- Company incorporation
Registering a legal entity aligned with Dubai’s corporate regulations.
- Office space
Securing a physical office location within the Emirate to fulfil regulatory requirements.
- Local personnel
Employing two responsible individuals who are either UAE residents or UAE passport holders, along with a company secretary.
Establishing these components ensures the business structure complies with VARA’s initial prerequisites.
Compliance and regulatory preparation
Simultaneously, the business must prepare a comprehensive set of compliance and regulatory documents, which include:
- Identification and background checks for all key participants.
- <span data-metadata=""><span data-buffer="">Internal policies and procedures for operations and compliance.
- <span data-metadata=""><span data-buffer="">A detailed business plan outlining the nature of the virtual asset activities.
- <span data-metadata=""><span data-metadata=""><span data-buffer="">Financial projections and supporting documentation.
This step also involves opening a corporate bank account in Dubai to deposit the required share capital and to process the fees for pre-approval and licensing applications.
Submission and review
Once the business structure is finalised and all documents are prepared, the application is submitted to VARA. Applicants must adhere to specific rulebooks issued by VARA:
- <span data-metadata=""><span data-buffer="">Core rulebooks
Applicable to all applicants, outlining general regulatory and compliance standards.
- <span data-metadata=""><span data-buffer="">Activity-specific rulebooks
Tailored to the particular virtual asset activities the business intends to undertake.
Applicants are responsible for reviewing and aligning with the relevant rulebooks to ensure full compliance with VARA’s regulatory framework.
Approval and licensing
After thorough validation and review, VARA issues the VASP license to the company. This license is subject to annual renewal, with the business remaining under VARA’s ongoing supervision to ensure continued compliance with regulatory requirements.
Benefits of setting up a crypto company in Dubai
Zero corporate taxes
Keep 100% of your profits.
100% foreign ownership
No need for a local sponsor in free zones.
Reputation and credibility
Dubai is a trusted global business hub.
Global access
Tap into international markets with ease.
Business-friendly policies
Dubai offers a streamlined process for crypto businesses.
What our clients say
Join thousands of satisfied clients who trust Aston VIP for their Dubai business journey
Frequently asked questions
Which businesses need a VARA license?
A VARA license is mandatory for any entity involved in virtual asset services, including exchanges, wallet providers, asset managers, and token issuers. Whether the business operates entirely within the virtual asset space or integrates these services into a broader model, obtaining a VARA license ensures compliance with Dubai’s regulatory standards.
Which businesses need a VARA license?
What is the role of VARA in Dubai?
VARA’s primary objective is to regulate and monitor all virtual asset-related activities within Dubai, ensuring a secure environment for both businesses and investors. Its comprehensive framework promotes transparency, protects consumers, and supports the sustainable growth
of the digital economy.
What is the role of VARA in Dubai?
VARA’s primary objective is to regulate and monitor all virtual asset-related activities within Dubai, ensuring a secure environment for both businesses and investors. Its comprehensive framework promotes transparency, protects consumers, and supports the sustainable growth
of the digital economy.
What happens if a business operates without a VARA license?
Operating without a VARA license is a serious offence, subject to heavy fines, business suspension, and possible legal action. Ensuring proper licensing protects business reputation and avoids legal repercussions.
What happens if a business operates without a VARA license?
Operating without a VARA license is a serious offence, subject to heavy fines, business suspension, and possible legal action. Ensuring proper licensing protects business reputation and avoids legal repercussions.
What documentation is required for a VARA license?
To secure a VARA license, businesses must provide:
- A detailed business plan highlighting virtual asset activities.
- Identification documents for all shareholders and directors.
- Proof of address and incorporation documents for the parent company (if applicable).
- Robust compliance frameworks, including KYC and AML policies.
- Financial statements demonstrating operational capacity and readiness.
Thorough preparation of documentation reduces the likelihood of delays or rejections.
What documentation is required for a VARA license?
To secure a VARA license, businesses must provide:
- A detailed business plan highlighting virtual asset activities.
- Identification documents for all shareholders and directors.
- Proof of address and incorporation documents for the parent company (if applicable).
- Robust compliance frameworks, including KYC and AML policies.
- Financial statements demonstrating operational capacity and readiness.
Thorough preparation of documentation reduces the likelihood of delays or rejections.
What specific licenses are available for crypto companies in Dubai?
Dubai offers a variety of licenses tailored to the specific needs of crypto and blockchain businesses. For instance, if your company focuses on trading cryptocurrencies, you will need a Crypto Trading License. Companies developing blockchain technology or providing software solutions require a Blockchain Development License. If your business plans to manage digital assets for clients, a Crypto Custody License is necessary. There are also licenses available for ICO (Initial Coin Offerings) or token issuance businesses. Choosing the right license is crucial, and we provide expert guidance to ensure your application matches your business activities.
What specific licenses are available for crypto companies in Dubai?
Dubai offers a variety of licenses tailored to the specific needs of crypto and blockchain businesses. For instance, if your company focuses on trading cryptocurrencies, you will need a Crypto Trading License. Companies developing blockchain technology or providing software solutions require a Blockchain Development License. If your business plans to manage digital assets for clients, a Crypto Custody License is necessary. There are also licenses available for ICO (Initial Coin Offerings) or token issuance businesses. Choosing the right license is crucial, and we provide expert guidance to ensure your application matches your business activities.
What is the role of VARA in Dubai’s crypto ecosystem?
The Virtual Assets Regulatory Authority (VARA) is the governing body responsible for overseeing and regulating all crypto-related activities in Dubai. Its primary roles include issuing licenses for crypto businesses, enforcing compliance with AML and KYC regulations, and ensuring transparency within the industry through regular audits. VARA also works to create a safe and secure environment for blockchain innovation while fostering trust among investors. We work closely with VARA to ensure your company complies with all their requirements, giving you peace of mind.
What is the role of VARA in Dubai’s crypto ecosystem?
The Virtual Assets Regulatory Authority (VARA) is the governing body responsible for overseeing and regulating all crypto-related activities in Dubai. Its primary roles include issuing licenses for crypto businesses, enforcing compliance with AML and KYC regulations, and ensuring transparency within the industry through regular audits. VARA also works to create a safe and secure environment for blockchain innovation while fostering trust among investors. We work closely with VARA to ensure your company complies with all their requirements, giving you peace of mind.
What documents are required to set up a crypto company in Dubai?
To set up a crypto company, you will need passport copies of all shareholders, proof of residential addresses, a detailed description of your planned business activities (e.g., trading, custody, or blockchain development), and a completed application for the selected free zone or regulatory authority. In some cases, an initial capital deposit certificate may also be required. We help compile and review these documents to ensure everything is complete and accurate before submission, avoiding unnecessary delays.
What documents are required to set up a crypto company in Dubai?
To set up a crypto company, you will need passport copies of all shareholders, proof of residential addresses, a detailed description of your planned business activities (e.g., trading, custody, or blockchain development), and a completed application for the selected free zone or regulatory authority. In some cases, an initial capital deposit certificate may also be required. We help compile and review these documents to ensure everything is complete and accurate before submission, avoiding unnecessary delays.
What are the costs involved in setting up a crypto company in Dubai?
The costs for setting up a crypto company vary depending on factors such as the license type, office setup, and additional services. License fees can range from AED 15,000 to AED 50,000. Virtual offices, which are more affordable, start at AED 5,000 annually, while physical office spaces may cost upwards of AED 20,000. Opening a bank account typically involves setup fees ranging from AED 2,500 to AED 10,000. Employee and investor visas can cost between AED 3,500 and AED 7,000 each. We provide a detailed cost breakdown tailored to your specific business model to ensure transparency.
What are the costs involved in setting up a crypto company in Dubai?
The costs for setting up a crypto company vary depending on factors such as the license type, office setup, and additional services. License fees can range from AED 15,000 to AED 50,000. Virtual offices, which are more affordable, start at AED 5,000 annually, while physical office spaces may cost upwards of AED 20,000. Opening a bank account typically involves setup fees ranging from AED 2,500 to AED 10,000. Employee and investor visas can cost between AED 3,500 and AED 7,000 each. We provide a detailed cost breakdown tailored to your specific business model to ensure transparency.
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- +971 4 518 2623
- contact@aston.ae