Virtual Asset Advisory Services Licence (Dubai (VARA))
The Virtual Asset Advisory Services Licence is issued by Virtual Assets Regulatory Authority (VARA) under Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai. The official register lists 3 current holders. The legal decision period is No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness. The application fee is AED 40,000.
At a glance
| Official name | Virtual Asset Advisory Services Licence1 |
|---|---|
| Issued by | Virtual Assets Regulatory Authority |
| Jurisdiction | Dubai (VARA) |
| Licence family | Virtual asset service provider (non-MiCA) |
| Legal basis | Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai2 Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers3 Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets4 |
| Passporting | Domestic only |
| Application fee | AED 40,0005 |
| Annual fee | AED 80,0005 |
| Statutory decision time | No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.6 |
| Public register | official register7 |
| Current holders | 37 |
What it lets you do
- Advice on crypto-assets. Giving personalised recommendations to a client about transactions in crypto-assets or the use of crypto-asset services.
Where it is valid
Cost
Buying a company that already holds it
Prior approval required. Under Company Rulebook Part VIII.C, no action may be taken that may result in a change of Control of a VASP without VARA's prior written approval. Prior to any transaction, the VASP and acquirer must submit a joint written application. Control is presumed when an entity directly or indirectly owns or controls 25% or more of voting shares, possesses power to direct management/policies, or can appoint or dismiss the majority of the Board or Senior Management. The statutory assessment period is thirty (30) Working Days from deemed receipt of a complete application, extendable by VARA. Assessments consider public interest, investment vs controlling intent, board influence, and fit-and-proper standards.8
Ready-made companies holding this licence: see verified positions.
Laws behind it
- Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai: Law No. (4) of 2022
- Virtual Assets and Related Activities Regulations 2023: Virtual Assets and Related Activities Regulations 2023
Getting this licence
Protegra handles this licence end to end: crypto licensing in Dubai (VARA): process, timeline and our fee.
Sources
- vara.ae: licensed activities · retrieved 2026-09-24
- rulebooks.vara.ae: law no 4 2022 regulating virtual assets emirate dubai · retrieved 2026-09-24
- rulebooks.vara.ae: cabinet decision no 1112022 regulation virtual assets and th · retrieved 2026-09-24
- rulebooks.vara.ae: cabinet decision no 1122022 delegating certain competencies · retrieved 2026-09-24
- rulebooks.vara.ae: schedule 2 supervision and authorisation fees · retrieved 2026-09-24
- rulebooks.vara.ae: b varas licensing and authorisation powers · retrieved 2026-09-24
- vara.ae: public register · retrieved 2026-09-24
- rulebooks.vara.ae: c change control · retrieved 2026-09-24
Want the VASP licence in Dubai (VARA)?
Tell us your business model and target markets. We check the fit before you spend on an application, then handle the licence end to end.
A free preliminary assessment: we check your business model against the licence before you spend on an application. We handle this licence and any other fintech licence, including jurisdictions the Atlas does not cover yet.