# Virtual Asset Exchange Services Licence (Dubai (VARA))

Source page: https://protegra.io/licensing/licences/vasp/dubai-exchange/

The Virtual Asset Exchange 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 15 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.

## At a glance

| Official name | Virtual Asset Exchange Services Licence [1] |
| --- | --- |
| Issued by | [Virtual Assets Regulatory Authority](https://protegra.io/licensing/regulators/vara-dubai/) |
| Jurisdiction | [Dubai (VARA)](https://protegra.io/licensing/jurisdictions/dubai/) |
| Licence family | [Virtual asset service provider (non-MiCA)](https://protegra.io/licensing/licences/vasp/) |
| Legal basis | Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai [2]; Cabinet Decision No. 111/2022 on the Regulation of Virtual Assets and Their Service Providers [3]; Cabinet Decision No. 112/2022 on Delegating Certain Competencies related to the Regulation of Virtual Assets [4] |
| Passporting | Domestic only |
| Application fee | AED 100,000 [5] |
| Annual fee | AED 200,000 [5] |
| 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 register](https://www.vara.ae/en/licenses-and-register/public-register/) [7] |
| Current holders | 15 [7] |

## What it lets you do

- [Virtual asset exchange (FATF)](https://protegra.io/licensing/activities/vasp-exchange/)
- [Operating a crypto-asset trading platform](https://protegra.io/licensing/activities/crypto-trading-platform/)

- **Virtual asset exchange (FATF).** Exchanging virtual assets for fiat currency or for other virtual assets as a business, as defined in the FATF glossary.
- **Operating a crypto-asset trading platform.** Managing a multilateral system that brings together buying and selling interests in crypto-assets so that contracts are concluded.

## Where it is valid

_Valid in Dubai (VARA)._

## Cost

_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](https://protegra.io/companies/crypto-digital-assets/).

## Laws behind it

- [Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai](https://protegra.io/licensing/laws/ae-du-law-4-2022/): Law No. (4) of 2022
- [Virtual Assets and Related Activities Regulations 2023](https://protegra.io/licensing/laws/ae-du-vara-regulations-2023/): Virtual Assets and Related Activities Regulations 2023

## Getting this licence

Protegra handles this licence end to end: [crypto licensing in Dubai (VARA)](https://protegra.io/dubai-uae): process, timeline and our fee.

## Sources

1. [vara.ae: licensed activities](https://www.vara.ae/en/licenses-and-register/licensed-activities/): retrieved 2026-09-24
2. [rulebooks.vara.ae: law no 4 2022 regulating virtual assets emirate dubai](https://rulebooks.vara.ae/rulebook/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](https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1112022-regulation-virtual-assets-and-their-service-providers): retrieved 2026-09-24
4. [rulebooks.vara.ae: cabinet decision no 1122022 delegating certain competencies](https://rulebooks.vara.ae/rulebook/cabinet-decision-no-1122022-delegating-certain-competencies-related-regulation-virtual): retrieved 2026-09-24
5. [rulebooks.vara.ae: schedule 2 supervision and authorisation fees](https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees): retrieved 2026-09-24
6. [rulebooks.vara.ae: b varas licensing and authorisation powers](https://rulebooks.vara.ae/rulebook/b-varas-licensing-and-authorisation-powers): retrieved 2026-09-24
7. [vara.ae: public register](https://www.vara.ae/en/licenses-and-register/public-register/): retrieved 2026-09-24
8. [rulebooks.vara.ae: c change control](https://rulebooks.vara.ae/rulebook/c-change-control): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.