We help crypto, NFT, and digital asset businesses secure VARA licenses—ensuring compliance with Dubai’s regulatory framework, smooth approvals, and the ability to operate legally in one of the world’s fastest-growing virtual asset hubs.
The Virtual Assets Regulatory Authority (VARA) plays a central role in shaping Dubai’s position as a global hub for digital assets. If you plan to operate a business involving cryptocurrencies, NFTs, or other virtual tokens within Dubai’s mainland or approved free zones (excluding DIFC), obtaining a VARA license is mandatory. This license ensures that your operations align with Dubai’s legal and regulatory framework for virtual assets, allowing your business to function transparently and securely.
Approval matters because it legitimizes your activities in an industry often challenged by regulatory uncertainty. It gives customers and investors confidence that your business follows robust standards in governance, risk management, and compliance. Businesses seeking a license must demonstrate a clear business plan, provide details about their ownership and management team, and comply with strict Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements, including Know Your Customer (KYC) procedures.
Without approval, companies cannot legally issue, trade, manage, or provide advisory services related to digital assets in Dubai. Beyond compliance, licensing positions your business for growth in a secure, regulated environment, ensuring credibility, investor trust, and long-term success in the rapidly expanding virtual asset economy.
Anyone running a business that involves:
The renewal period varies with the visa type that the person holds, either sponsored or not:
In applying for VARA licenses, the individual must be prepared to describe what they will do, be it trade in cryptocurrencies, mint NFT services, lend or advise.
Along with application submit description of the business, objectives, projected financial plan, and the manner in which you will utilize virtual assets.
Follow strict Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) rules, including implementation of Know Your Customer (KYC) checks and risk management system.
Provide details related to business owners and key managers, including their IDs, qualifications, and experience.
Provide sufficient initial capital in line with the particular activity licensed—e.g., lending, trading, or settlement services—according to VARA's requirements.
Ensure a physical office is established and maintained within the Emirate of Dubai as an indication of operational commitment and regulatory compliance.
The process is thorough but straightforward:
Pro Tip: It is highly advisable to involve a qualified legal advisor throughout the application process. Their expertise can ensure accuracy, regulatory alignment, and stronger positioning during VARA’s review stages.
VARA (Virtual Assets Regulatory Authority) is Dubai’s regulator for cryptocurrencies, NFTs, and other digital assets. Its approval is mandatory for any business dealing with virtual assets in Dubai’s mainland or approved free zones (excluding DIFC).
Any individual or company issuing, trading, exchanging, managing, or providing custody, lending, or advisory services for virtual assets must obtain a VARA license.
VARA regulates activities such as cryptocurrency trading, NFT issuance, digital asset custody, lending services, settlement services, and virtual asset advisory.
You must submit a business plan, ownership and team details, proof of sufficient capital, an operational office in Dubai, and robust AML/CFT and KYC compliance systems.
It’s the first step in the licensing process, where applicants provide basic information about their planned virtual asset activities.
The MVP license allows limited operations under regulatory oversight, serving as a testing phase before securing a full market license.
After successfully completing the MVP stage, businesses can apply for a full VARA license to conduct unrestricted operations within their approved scope.
Timelines vary depending on the business model and completeness of the application, but the review can take several weeks to months.
No. Operating without a VARA license is illegal and can result in fines, business suspension, or legal penalties.
Legal and regulatory experts simplify the process by preparing documentation, ensuring compliance with VARA rules, and liaising with the authority to secure faster approvals.
BYB (Build Your Business) is a specialized firm focused on building the foundation for businesses to operate globally. We provide clear guidance and practical support to individuals and companies on how to properly establish their business, follow all rules, and design its structure to begin work in different countries. Our deep knowledge includes how to stay compliant in various nations, selecting the best legal setup, and making smart choices about local business environments. We help get registrations, explain tax requirements, and put in place the basic systems for running an office. BYB is an essential partner for those starting international businesses, making sure they have a solid and rule-abiding base from the very beginning.
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