Virtual asset service provider (non-MiCA) · Dubai (VARA)

Virtual Asset Broker-Dealer Services Licence (Dubai (VARA))

The Virtual Asset Broker-Dealer 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 41 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 100,000.

Last verified 2026-09-24Regulator VARAMarkdown · Data (CC BY 4.0)
Virtual Asset Broker-Dealer Services Licence: licenceVASP

At a glance

Official nameVirtual Asset Broker-Dealer Services Licence1
Issued byVirtual Assets Regulatory Authority
JurisdictionDubai (VARA)
Licence familyVirtual asset service provider (non-MiCA)
Legal basisLaw 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
PassportingDomestic only
Application feeAED 100,0005
Annual feeAED 200,0005
Statutory decision timeNo 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 registerofficial register7
Current holders417

What it lets you do

  • Execution of orders for crypto-assets on behalf of clients. Concluding agreements to buy or sell crypto-assets on behalf of clients, including subscribing to offers.
  • Exchange of crypto-assets for funds. Buying or selling crypto-assets against fiat money using the provider's own capital.
  • Exchange of crypto-assets for other crypto-assets. Concluding contracts with clients to swap one crypto-asset for another using the provider's own capital.

Where it is valid

Dubai (VARA) licence, domesticDubai (VARA)
Valid in Dubai (VARA).

Cost

Cost components, upper bound total AED 300,000Application fee: AED 100,000Annual supervisory fee: AED 200,000
Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model.

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

Getting this licence

Protegra handles this licence end to end: crypto licensing in Dubai (VARA): process, timeline and our fee.

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. vara.ae: licensed activities · retrieved 2026-09-24
  2. rulebooks.vara.ae: law no 4 2022 regulating virtual assets emirate dubai · retrieved 2026-09-24
  3. rulebooks.vara.ae: cabinet decision no 1112022 regulation virtual assets and th · retrieved 2026-09-24
  4. rulebooks.vara.ae: cabinet decision no 1122022 delegating certain competencies · retrieved 2026-09-24
  5. rulebooks.vara.ae: schedule 2 supervision and authorisation fees · retrieved 2026-09-24
  6. rulebooks.vara.ae: b varas licensing and authorisation powers · retrieved 2026-09-24
  7. vara.ae: public register · retrieved 2026-09-24
  8. rulebooks.vara.ae: c change control · retrieved 2026-09-24

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