Crypto License in Dubai - Fast and Efficient
UEA Crypto License 2023
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Advisory Services
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Broker-Dealer Services
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Custody Services
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Exchange Services
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Lending and Borrowing Services
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VA Management and Investment Services
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VA Transfer and Settlement Services
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Company Formation;
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Assistance in Obtaining Cryptocurrency Licenses;
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Help with AML/CTF Documentation;
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Application Submission
Starting from €20,000.
The Virtual Assets Regulatory Authority (VARA) www.vara.ae is the body that supervises and regulates the distribution, utilization, and trade of virtual assets within and originating from the Emirate of Dubai
Crypto License Dubai - Government Fees
VA Activity | Licence Application Fee [ per Activity] | Licence Extension Fee | Annual Supervision Fee | Share Capital |
|---|---|---|---|---|
VA Transfer and Settlement Services | AED 40,000 10,900$ | AED 20,000 5,450$ | AED 40,000 10,900$ | The higher of [i] AED 500,000; or [ii] 25% of fixed annual overheads. |
Advisory Services | AED 40,000 10,900$ | AED 20,000 5,450$ | AED 40,000 10,900$ | AED 100,000. |
Broker-Dealer Services | AED 100,000 27,250$ | AED 50,000 27,250$ | AED 100,000 27,250$ | Broker-Dealer Services using a VASP Licensed by VARA to provide Custody Services or otherwise approved during the licensing process: the higher of [i] AED 400,000; or [ii] 15% of fixed annual overheads. In all other instances, the higher of [i] AED 600,000; or [ii] 25% of fixed annual overheads. |
Custody Services | AED 100,000 27,250$ | AED 50,000 27,250$ | AED 100,000 27,250$ | The higher of [i] AED 600,000; or [ii] 25% of fixed annual overheads. |
Exchange Services | AED 100,000 27,250$ | AED 50,000 27,250$ | AED 100,000 27,250$ | Exchange Services using a VASP Licensed by VARA to provide Custody Services or otherwise approved during the licensing process: the higher of [i] AED 800,000; or [ii] 15% of fixed annual overheads. In all other instances, the higher of [i] AED 1,500,000; or [ii] 25% of fixed annual overheads. |
Lending and Borrowing Services | AED 100,000 27,250$ | AED 50,000 27,250$ | AED 100,000 27,250$ | The higher of [i] AED 500,000; or [ii] 25% of fixed annual overheads. |
VA Management and Investment Services | AED 100,000 27,250$ | AED 50,000 27,250$ | AED 100,000 27,250$ | VA Management and Investment Services using a VASP Licensed by VARA to provide Custody Services or otherwise approved during the licensing process: the higher of [i] AED 280,000; or [ii] 15% of fixed annual overheads. In all other instances, the higher of [i] AED 500,000; or [ii] 25% of fixed annual overheads. |
Our Clients
Compare Dubai, Lithuania & Estonia's Crypto License
Feature | Dubai | Lithuania | Estonia |
|---|---|---|---|
Cost | 20 000€ | 20 000€ | 25 000€ |
License Type & Government fee | 1. 9,700€ - Advisory Services & VA Transfer and Settlement Services | 1. Cryptocurrency exchange license
2. Crypto wallet and custodian services license
| 1. Cryptocurrency exchange license
2. Crypto wallet and custodian services license
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2. 24,250€ - Broker-Dealer, Custody, Exchange, Lending and Borrowing & VA Management and Investment Services | No additional fee | 10 000€ | |
Audit | May be required by VARA | Not required | Monthly and yearly are needed |
Office | Required | Can be virtual | Required |
AML (Anti-Money Laundry Officer) | Can be any nationality | Local needed | Local needed |
AML monthly salary | 5000€ | Starting from 1200€ | Starting from 2000€ |
Local director | Can be any nationality | Can be any nationality | Can be of any nationality, but have to live in Estonia |
Share capital terms | Immidiately | 25% now, 75% within a year.
| Immediately |
Required share capital | 24,250€ (Advisory Services) - 194,000€ (Exchange Services)
| 125 000€ | 100 000€ - Crypto wallet and custodian services license.
250000€ - Cryptocurrency exchange license |
Crypto License Dubai Explained
Application submissions can be made through mainland firms, or any Dubai Free Zone Authority (FZA) in the emirate of Dubai (excluding DIFC).
License Registration Process -
Step 1 - Initial Approval Application
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Company Registration
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Submit an Initial Disclosure Questionnaire
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Business Plan Preparation: Creation a detailed business plan outlining your intended operations, financial projections, and how you plan to incorporate crypto into your business model.
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Include details of the firm’s beneficial owners and senior management.
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Pay the initial fees [normally 50% of the license application fee] required to commence the application review.
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Receive an Initial Approval to finalize onboarding the firm’s legal incorporation and to complete operational set-up including office space rental, employee on-boarding, and so forth. NOTE: At this point, the firm is not permitted to carry on Virtual Asset activities.
Step 2 - Full Market Product (FMP) Licence Application
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Prepare and submit documentation according to the guidance provided by VARA upon receipt of the Initial Approval.
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Receive feedback directly from VARA on the submission which may include meetings, interviews, and submission of further documentation.
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Pay the remaining portion of the application license fees and the first year’s supervision fees.
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Receive an FMP Licence, which may be subject to operational conditions.
Our Team
Lena Elvbakken
Co-founder
"For businesses exploring the digital currency space, we specialize in procuring a Dubai cryptocurrency license. Our guidance helps clients maneuver the complex regulatory framework, facilitating successful acquisition of necessary crypto licenses. Count on our expertise to guide you through Dubai's regulatory landscape for your cryptocurrency ventures."
Mardo Soo
Founder
"As the CEO of Consulting24, my aim is to assist entrepreneurs in establishing their businesses in Dubai and securing cryptocurrency licenses in a cost-effective manner. We simplify the complex procedure of obtaining a Dubai crypto license and help manage your expenses. Our goal is to open up the dynamic Dubai crypto market for you while keeping licensing costs manageable. Trust us to guide you affordably through your crypto licensing journey in Dubai."