VARA virtual asset licence in Dubai, UAE
Any firm carrying on virtual asset activities in or from Dubai, outside the DIFC, must be licensed by VARA before it starts. Each activity is licensed and charged separately. New firms first obtain an Approval to Incorporate and only then apply for the VASP licence, which may come with operating conditions.
Facts under review · last checked 2026-10-08 · confirm figures with the regulator before relying on them
Regulator · Virtual Assets Regulatory Authority (VARA) ↗
Key facts
- Scope
- Licence required before carrying on virtual asset activities in or from Dubai, excluding the DIFCas of 2026-10-08Source ↗
- Licensable activities
- Advisory, broker-dealer, custody, exchange, lending and borrowing, VA management and investment, VA transfer and settlement, and Category 1 VA issuanceas of 2026-10-08Source ↗
- Licence application fee (per activity)
- AED 100,000; AED 40,000 for advisory and for transfer and settlementas of 2026-10-08Source ↗
- Annual supervision fee (per activity)
- AED 200,000; AED 80,000 for advisory and for transfer and settlement; paid in advance of conducting the activityas of 2026-10-08Source ↗
- Process
- Stage 1: Approval to Incorporate via DET or a free zone, paying typically 50% of the application fee. Stage 2: VASP licence application, interviews, then the balance of the fee and first-year supervision feeas of 2026-10-08Source ↗
Realistic timeline
Who does what, and how long each phase usually takes once work starts. The regulator’s share is outside anyone’s control.
- HartsizScoping, activity mapping and fee budgeting2–4 weeks
- YouDisclosure questionnaire, business plan and Approval to Incorporate4–12 weeksHartsiz drafts the pack; the client supplies owners' and managers' documents
- YouIncorporation, office and hires6–16 weeks
- RegulatorVARA licence review, interviews and decision12–40 weeksOutside our control; depends on VARA's questions and the readiness of the operation
Estimated end to end: 6–17 months. Not a guarantee.
What the regulator expects to see
- Legal entity incorporated in Dubai mainland or a Dubai free zone (other than the DIFC) after Approval to Incorporate
- Office, senior management and staff in place before the licence is granted
- Compliance officer, MLRO and AML/CFT framework under UAE federal AML law and the VARA rulebooks
- Technology and information security controls under the VARA Technology and Information Rulebook
Questions we get
Can we start operating after the Approval to Incorporate?
No. The Approval to Incorporate only lets you set up the company and operations. You may not carry on virtual asset activities until VARA grants the licence.
Does a VARA licence cover the DIFC or Abu Dhabi?
No. VARA covers Dubai excluding the DIFC. The DIFC and Abu Dhabi Global Market have their own regulators and licences.