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In recent years, Dubai has made itself one of the most attractive destinations for digital asset firms. Under Dubai Law No. 4 of 2022, the Virtual Assets Regulatory Authority (VARA) was established, becoming “the world’s first independent regulator for virtual assets” alone.
With 31% of the UAE population owning digital assets, 4.5x higher than the global average, the UAE has become a magnet for global crypto exchanges, institutional investors, and blockchain-based projects. According to several estimates, the UAE blockchain market is currently valued at USD 8.9 billion and is expected to grow at a CAGR of 35%, reaching USD 72.6 billion by 2032. No wonder, therefore, Dubai is set to become the “crypto capital of the world”, while the broader UAE is already considered the “Wall Street of crypto.”
Crypto firms from around the world now choose to relocate or open a business in Dubai, UAE, where they are finding a safe haven from regulatory uncertainty seen elsewhere. With 0% income tax, strategic access to the UAE market, and a clear regulatory licensing framework, the country is increasingly recognized as a leading international hub for crypto activities.
For crypto founders, Dubai’s VARA provides a uniquely designed regulatory ecosystem that not only facilitates compliant entry into the UAE but also acts as a gateway for future scaling anywhere in the world.
Dubai’s Virtual Assets Regulatory Authority (VARA) grants licenses to entities operating in regulated virtual asset activities in the emirate, whether in the mainland or the free zones (excluding the DIFC). Any business engaged with virtual assets must obtain official permission before commencing operations.
This licensing regime defines a broad spectrum of regulated VARA list of activities and establishes corresponding “license types” for most crypto business models, including custodial providers, asset managers, broker-dealers, advisory firms, and lenders.
Obtaining a Dubai crypto license offers various advantages for blockchain and cryptocurrency businesses. Among the most important are:
The price of getting a crypto license in Dubai differs based on the nature of the crypto operations, the underlying business model, and the chosen economic zone of registration.
The Dubai crypto license price consists of several components, starting from the application fee paid to the regulator, which may reach up to AED 100,000, depending on the activity. Beyond the initial application fee, businesses should budget for Dubai company formation costs, annual supervision fees (set at twice the initial application fee), compliance staffing, and share capital equal to 1.2 times monthly operating costs (to be maintained in liquid form).
Please keep in mind that a crypto license in Dubai cost can increase significantly if a firm seeks to pursue multiple activities, as VARA applies a “license per activity” model under which each additional regulated activity involves a separate fee.
Kindly reach out to us for a bespoke Dubai crypto license cost estimate tailored to your business specifics.
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Costa Rica
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Dubai (VARA)
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El Salvador
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Scope of activities
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Crypto exchange, custodial services, mining, ICO/ITO, and more
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Virtual asset advisory, exchange operations, custody, lending, management, transfer & settlement issuance, and more
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Crypto exchange, sales of digital assets, custodial services, management of investment products in digital assets, and buying or/and selling digital assets on clients' behalf
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Cost
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Low (contact us for accurate estimate)
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High (reach out to us for price)
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Medium (contact us for accurate estimate)
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Time to obtain
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2 weeks to 1 month
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6 to 12 months, depending on the complexity
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3 to 6 months
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Regulation
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No additional permit or authorization
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Virtual Assets Regulatory Authority (VARA)
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National Commission on Digital Assets (CNAD)
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Taxation
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30% corporate income tax; 0% tax on income generated outside of Costa Rica
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0% personal income tax; 9% corporate tax above AED 375,000; free-zone exemptions possible
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0% corporate tax on non-Salvadoran income source received from the company’s activity. In addition, cryptocurrency transactions are not subject to capital gains tax.
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Requirements
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Minimal (register a company and comply with international AML/CFT standards)
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High (office lease, AML/CTF policies, cybersecurity controls, responsible individuals appointed, minimum share capital obligations)
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Moderate (register a company, comply with AML/CFT standards set by FATF, implement cybersecurity standards, and investor protection)
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The business model and virtual asset services a firm seeks to provide will determine the particular requirements of the Dubai crypto license; however, in all cases, the applicant must demonstrate compliance with minimum regulatory, operational, and corporate governance requirements.
Applicants must set up a company in Dubai (legal entity), either on the mainland or within a free zone, and obtain a registered office address within the UAE to establish a local presence.
The founders must produce a complete virtual asset white paper or description of the activities, reveal UBOs, and meet “Fit and Proper” integrity criteria as evidenced by professional competence and financial soundness.
Firms have to put in place AML/KYC measures aligned with FATF standards, including thorough customer due diligence, suspicious activity reporting, and ongoing transaction monitoring.
Depending on the activity type, the capital requirement may be as high as AED 5 million. In addition, the firms must also maintain an expense capital equivalent to 1.2 times their monthly operating expenses.
Technical systems must be able to pass cybersecurity reviews, and documented governance must specify risk management, access control, and business continuity.
The full UAE crypto license requirements kit is publicly available to all applicants through an online public register maintained by VARA.
Today, according to the regulator’s guidance, UAE crypto licensing is a two-stage procedure, starting with initial approval and followed by issuance of the full VASP license. The overall timeline usually ranges from 6 to 12 months, depending on the complexity.
First, the applicants must complete an Initial Disclosure Questionnaire (IDQ) with Dubai Economy & Tourism (DET). This should include details about the business model, key executives, transaction planned, and more and business model.
>A firm will need to submit a number of supporting documents, usually including details of the firm’s beneficial owners and senior management, and pay 50% of the application fee.
Upon approval, VARA will issue an Approval to Incorporate (ATI), which enables the company to complete the incorporation process, lease an office, and hire employees.
An applicant must prepare a submit detailed policies on operations, appointment of persons in charge, cybersecurity frameworks, AML/CTF, and other risk management documents.
Interviews, clarifications, and additional documentation may be required by VARA in certain cases.
After evaluation, the regulator issues the next invoice and, once it is paid in full, grants a VASP License, possibly subject to operational conditions.
Inteliumlaw legal experts assist crypto firms with getting a Dubai crypto license, handling communications with VARA on their behalf, while ensuring the application meets all regulatory expectations from day one. Our team guides clients through the preparation of all required documents and application forms, AML/CFT policies, risk assessments, responsible individual nomination, and UBO filings – overseeing the process end-to-end to guarantee smooth license issuance.
Get in touch with Inteliumlaw consultants if you want to start a compliant virtual-asset business in one of the world’s most pro-crypto jurisdictions.
Through years of supporting businesses’ sustainable growth, Inteliumlaw has built a robust network of partners ranging from software developers and gaming technology providers to operators and white-label businesses – all designed to offer our clients immediate access to industry-leading solutions.
Managing Partner at Inteliumlaw
Languages: English/Ukrainian
The cost of getting a crypto license in Dubai is not pre-determined and varies based on the nature of regulated activity, the chosen structure (mainland vs. free zone), and the business model. Typically, the initial VARA application fee alone ranges from AED 40,000 to 100,000. The applicants, however, should also keep in mind annual supervision fees, office rental, compliance staffing, and legal fees.
UAE crypto license applicants should open a local company, have responsible persons who are the country’s residents, ensure all relevant AML/KYC procedures are in place, demonstrate capital adequacy, and have documented governance and cybersecurity policies, among others.
A crypto exchange license in Dubai (Exchange Services under VARA) generally allows you to operate a trading platform that lists and matches orders for virtual assets, enabling fiat-to-crypto and crypto-to-crypto exchange, while activities like custody, brokerage, or lending usually require separate VARA permissions.
The duration depends on the complexity, accuracy of the documents, and workload of regulatory authorities. Usually, the whole process takes from 6 months to 12 months. Additional time may be needed for clarifications, interviews, and operational readiness checks.
Yes. Opening a business in Dubai and getting the UAE crypto license is possible fully remote. Nevertheless, companies are required to rent office space in Dubai and hire a full-time resident director.
The VARA crypto license is granted for 1 year and is subject to renewal every 12 months. The authority sends a notification for renewal 90 days prior, and an annual supervision fee is payable upon renewal for maintaining the status of active and continuous authorization.
While a VARA license enhances credibility, banking approvals remain independent and subject to each bank’s internal risk assessment. Licensed entities must still meet bank-level compliance requirements before accounts are opened.
Inteliumlaw provides full-cycle legal support for obtaining a Dubai crypto license. From company formation in Dubai and document preparation to AML policy drafting, communication with the regulator, appointment of key personnel, and post-approval ongoing compliance maintenance.
The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.
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