Dubai regulates virtual-asset businesses through VARA — the Virtual Assets Regulatory Authority, established under Dubai Law No. 4 of 2022. If you carry out a virtual-asset activity in or from Dubai (outside the DIFC), you need the right VARA licence before you operate. We guide you from the first regulatory question to a granted licence — and beyond.
Who this is for
Crypto exchanges, broker-dealers, custodians, token issuers, advisory and management businesses — whether you are entering Dubai from abroad or restructuring an existing operation to meet VARA’s requirements.
What we do
- Determine whether your activity falls within VARA’s perimeter — and which licence category fits your model.
- Prepare and manage the licence application, end to end: disclosures, business plan, fit-and-proper documentation and regulator correspondence.
- Draft the policies and frameworks VARA’s rulebooks require — compliance, risk, technology and market conduct.
- Advise on structuring: the right entity, ownership and governance arrangements for a VASP.
- Support you after the licence — ongoing obligations, rule changes and dealings with the regulator.
What VARA covers
VARA licenses virtual-asset activities including exchange services, broker-dealer services, custody, advisory, lending and borrowing, management and investment services, and transfer and settlement. Each activity has its own rulebook and requirements, layered on top of VARA’s general rulebooks. Getting the activity classification right at the outset shapes everything that follows — capital, governance, systems and timelines.
How we work
- Assess your model and map it to VARA’s activity list.
- Confirm the licence route and requirements with you — clearly, before you commit.
- Build the application and documentation.
- Manage the process with the regulator through to grant.
- Stand by you as you launch and grow.
Frequently asked questions
Do I need a VARA licence for my crypto business?
If you carry out a virtual-asset activity in or from the Emirate of Dubai (outside the DIFC), generally yes. The real question is which activity — and therefore which licence and rulebooks apply. That classification is where we start.
How long does VARA licensing take?
It varies with the activity, the completeness of your application and the regulator’s queries. A well-prepared application materially shortens the process — much of our work is making sure you enter the queue ready.
Should I choose VARA, ADGM or DIFC?
It depends on your activities, target clients and structure. We regularly compare the three regimes for clients before any application is made — see our entity and licensing structure design service.