Our Clients
Dubai Crypto Trading License Cost
-
Business Formation;
-
Guidance in Cryptocurrency Licensing;
-
Help with AML/CTF Document Compliance;
-
Crypto Application Process;
Charges: 10,000-30,000USD
Please note, that this is in addition to government fees which fall between 30,000-80,000€ or more. Sign up for the consultation and one of our expert will contact with you.
2024 Overview: Activities Allowed Under Dubai Crypto Trading License
Advisory Services
-
Cryptocurrency Market Evaluation Service
-
Strategic Investment Advisory Service
Broker-Dealer Services
-
Virtual Asset Exchange Platform
-
Digital Currency Brokerage Solutions
Custody Services
-
Virtual Asset Secure Storage
-
Cryptocurrency Audit Services
-
Digital Asset Protection Insurance
Exchange Services
-
Operation of Cryptocurrency Trading Platforms
-
Digital Asset Liquidity Management"
-
Secure Transaction Systems for Crypto Exchanges
Lending and Borrowing Services
-
Digital Currency Collateral Loan Services
-
Cryptocurrency Leverage Trading Solutions
-
Asset-to-Loan Value Tracking System
VA Management and Investment Services
-
Crypto Asset Portfolio Management
-
Digital Asset Portfolio Performance Analysis
-
Cryptocurrency Investment Regulatory Compliance Solutions
VA Transfer and Settlement Services
-
Digital Asset Transaction Management
-
International Cryptocurrency Transfer Solutions
Obtaining a Crypto Trading License in the UAE
To legally engage in crypto trading in Dubai, companies need to secure a crypto trading license in the UAE through the Virtual Assets Regulatory Authority (VARA). The process includes:
-
Application Process: Submission of a detailed application by businesses, outlining operational plans, security protocols, and compliance strategies.
-
Regulatory Compliance: Demonstrating compliance with Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regulations is essential.
-
Audit Requirements: VARA may conduct financial and operational audits to evaluate the applicant's business readiness and financial stability.
-
Ongoing Oversight: Post-licensing, VARA monitors the licensee's activities to ensure continuous adherence to its regulatory framework and standards.
Step-by-Step Guide to Obtaining a Crypto Trading License in the UAE
Complete Step 1
-
Starting Company Registration Initiate by submitting required documents and details for your company's legal registration, setting the foundation for future procedures.
-
Complete Initial Disclosure Questionnaire After initiating registration, complete the Initial Disclosure Questionnaire to provide crucial information about your business, ensuring you meet regulatory standards.
-
Prepare a Comprehensive Business Plan Develop an in-depth business plan detailing your company's objectives, financial projections, and strategies for integrating cryptocurrency into your business model, enhancing your application's authenticity.
-
Submit Ownership and Management Information Offer detailed and accurate data about your company's beneficial owners and top management, a key step for regulatory transparency and assessment.
-
Remit Initial Registration Fees Pay the first 50% of the total registration fees to move forward, covering administrative costs and showing your dedication to the process.
After these steps are completed, your company will be on its way to securing approvals, setting up operations, and adhering to legal requirements. Keep in mind that offering services is not allowed during this initial phase.
Step 2
-
Document Preparation Post-Initial Approval Following initial approval, prepare and submit all required documentation for the FMP license as per VARA's guidelines. Be prepared for additional requests or meetings from VARA as part of their evaluation.
-
Address VARA’s Feedback and Complete Payments Act on any feedback provided by VARA, fulfill any extra requirements they may have, and then pay the remaining part of the license application fee along with the first year's supervision fees.
-
Finalizing the Licensing Process Once you've met all financial and operational requirements, VARA will grant your company the FMP license, allowing you to start your Virtual Asset operations.
Important Reminder: Be aware that VARA might impose specific operational conditions when issuing the FMP license.
Government Fees for the Licenses
VA Activity | Licence Application Fee | Licence Extension Fee | Annual Supervision Fee | Share Capital |
|---|---|---|---|---|
VA Transfer and Settlement Services | AED 40,000 10,900$ | AED 20,000 5,450$ | AED 80,000 21,800$ | 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 80,000 21,800$ | AED 100,000. |
Broker-Dealer Services | AED 100,000 27,250$ | AED 50,000 13,125$ | AED 200,000 54,500$ | 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 13,125$ | AED 200,000 54,500$ | The higher of [i] AED 600,000; or [ii] 25% of fixed annual overheads. |
Exchange Services | AED 100,000 27,250$ | AED 50,000 13,125$ | AED 200,000 54,500$ | 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 13,125$ | AED 200,000 54,500$ | 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 13,125$ | AED 200,000 54,500$ | 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. |
Crypto Trading License Dubai: Powered by VARA
The Virtual Assets Regulatory Authority (VARA), found at www.vara.ae, is the overseeing institution responsible for the regulation of the creation, application, and transaction of digital assets either sourced from or distributed within the Emirate of Dubai.
Dubai, Lithuania, Estonia: Comparison
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
|
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 |
Our Team
Lena Elvbakken
Co-Founder
"Benefit from our custom-built services, designed especially for businesses entering the digital currency arena. We uncomplicate the procedure of attaining a cryptocurrency license in Dubai, leveraging our extensive regulatory understanding for a hassle-free licensing experience. Rely on our wisdom to steer you through Dubai's complex regulatory maze, fostering the growth of your cryptocurrency initiatives."
Mardo Soo
Founder
"As the founder of Consulting24, my chief goal is to help entrepreneurs traverse the intricate maze of Dubai's crypto licensing process effortlessly. We clarify this complex undertaking, while judiciously maintaining cost efficiency. Our pledge is to facilitate your seamless integration into the bustling crypto market of Dubai, while keeping licensing costs within a manageable range. Count on our experience for an economically viable journey towards obtaining your Dubai crypto license."
