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Acquiring a Cryptocurrency License in Dubai!

  • Business Establishment Services

  • Reliable Support for Obtaining Cryptocurrency Licenses

  • Effective Assistance in AML/CTF Documentation

  • Submission of Application

20 000 €

Image representing of a cryptocurrency license in Dubai and Dubai downtown, Burj khalifa view

Cryptocurrency License in Dubai

  • Advisory Services

  • Broker-Dealer Services

  • Custody Services

  • Exchange Services

  • Lending and Borrowing Services

  • VA Management and Investment Services

  • VA Transfer and Settlement Services

VARA (Virtual Assets Regulatory Authority), accessible at www.vara.ae, is the regulatory entity charged with supervising and controlling the distribution, use, and trading of virtual assets that originate from or are circulated within the Emirate of Dubai.

Vara.ae Brand Logo
Government of Dubai logo

Our Clients 

Dubai Cryptocurrency License Government Fees

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 27,250$
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 27,250$
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 27,250$
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 27,250$
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 27,250$
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.

Interested in understanding how government regulations impact the crypto world? Dive into our comprehensive guide on 'Government Regulating Crypto' at Consulting24. Our expert insights offer a deep understanding of crypto regulations across key jurisdictions, supporting your business aspirations in the global crypto landscape. Explore here to start your journey in the regulated world of cryptocurrencies.

govement fee

Comparative Analysis of Cryptocurrency Licensing: Dubai, Lithuania, and Estonia

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
Compare

Revealing the Cryptocurrency License in Dubai: A Comprehensive Overview

Image representing of a cryptocurrency license in Dubai and Dubai downtown, Burj khalifa view

In terms of securing a crypto license in Dubai (outside of DIFC), there are two main routes: applying via mainland companies or making use of the Dubai Free Zone Authority (FZA).

The license registration journey begins with the submission of the Initial Approval Application. This pivotal step requires the submission of relevant documents and information as mandated by the regulatory bodies. Following submission, the application undergoes an evaluation to ascertain eligibility and adherence to the necessary regulations. Securing the Initial Approval represents a key achievement that sets the stage for the subsequent stages in the license registration procedure. Our team is here to navigate you through this process, guaranteeing a seamless and successful application submission.

License Registration Process: Step 1 - Initial Approval Application

Step 1: Initiate Company Registration

This step necessitates the submission of essential documentation and information for the registration process. It forms the legal bedrock of your company and sets the stage for future proceedings.
 

Step 2: Complete Initial Disclosure Questionnaire Upon initiating company registration, the subsequent step involves filling out and submitting the Initial Disclosure Questionnaire. This questionnaire gathers crucial details about your business, ensuring compliance with regulatory norms.
 

Step 3: Draft a Comprehensive Business Plan Devise an exhaustive business plan that captures your company's goals, financial forecasts, and how you plan to integrate cryptocurrency into your business model. A thoroughly prepared business plan showcases your strategic intent and boosts the credibility of your registration.
 

Step 4: Submit Ownership and Management Information Offer precise and comprehensive details of the beneficial owners and top management of the company. This data is vital for regulatory considerations and fosters transparency in the registration process.
 

Step 5: Remit Initial 50% of Fees To advance the registration process, the remittance of initial fees is necessary. These fees encompass the administrative expenses related to the registration and demonstrate your commitment to the process.
 

Upon the successful completion of these steps, the company will proceed towards securing the required approvals, finalizing operational setup, and complying with legal requisites. It is vital to note that during this phase, providing services is not permitted.

Step 2 - Applying for a Full Market Product (FMP) License
  1. After securing the Initial Approval, the company will proceed to prepare and submit the necessary documentation in accordance with VARA's (Virtual Asset Regulatory Authority) guidelines. This documentation plays a crucial role in the application process for the Full Market Product (FMP) license. The submission could be subjected to a review by VARA, which may involve meetings, interviews, or requests for additional documents.

  2. Once any feedback is addressed or any further requirements set by VARA are met, it becomes the company's obligation to pay the remaining application license fees as well as the first year's supervision fees.

  3. As soon as all fees are settled and any specified operational conditions are fulfilled, the company will be granted the FMP license, thereby gaining the authorization to conduct Virtual Asset operations.

    It's important to keep in mind that the FMP license may be subject to specific operational conditions as dictated by VARA.

dubai

Consulting24 Team 

Lena Elvbakken, Founder  of Consulting24, leading the way with registration of a cryptocurrency license in Dubai
Lena Elvbakken
Co-Founder
  • LinkedIn

"Our dedicated services are specifically designed to assist businesses that are stepping into the digital currency realm. We offer all-round support in procuring a cryptocurrency license in Dubai. With a deep understanding of the regulatory environment, we provide proficient advice to guarantee a seamless and successful license acquisition process. Count on our expertise to effectively traverse through Dubai's regulatory terrain, facilitating the flourishing of your cryptocurrency initiatives."

Mardo Soo, Consulting24's CEO, leading the way with registration of a cryptocurrency license in Dubai
Mardo Soo
Founder
  • LinkedIn

"As a founder at Consulting24, my principal aim is to assist entrepreneurs in establishing their firms in Dubai and obtaining cryptocurrency licenses in a budget-friendly way. We have a deep understanding of the complexities involved in the Dubai crypto licensing process and are committed to simplifying it for you, while effectively controlling your costs. Our goal is to pave the way for you to the prosperous Dubai crypto market while keeping licensing expenditures manageable. You can trust us to affordably guide you through your crypto licensing journey in Dubai."

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