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We help clients obtain DFSA, FSRA, VARA, and SCA approvals for virtual asset activities

We help clients obtain DFSA, FSRA, VARA, and SCA approvals for virtual asset activities

  • DIFC & ADGM: for institutional-grade projects, exchanges, and funds
  • Dubai Mainland & RAK DAO: for operational VASPs, brokers, and Web3 startups
  • Key license scopes: exchange, custody, portfolio/asset management, and tokenization

Unlock your options — consult with an expert today

Licensing is a core requirement for operating with crypto assets

Incorporating in a UAE free zone (DIFC, ADGM, RAK DAO) does not automatically authorize you to conduct regulated virtual asset activities. Exchanges, custodians, and fund/asset managers must obtain a separate license or authorization from the relevant regulator (DFSA, FSRA, SCA, or VARA). Operating solely under a commercial trade license carries significant risks, including inability to open a corporate bank account, rejection by payment providers, and regulatory enforcement for carrying out regulated activity without approval. A VASP license is the foundation for operating legally in the UAE’s virtual asset market.

Crypto company registration
Crypto company registration

How a VASP license strengthens a crypto project’s business model

Unrestricted access to banking and payments A license is the key requirement for bank compliance teams. It enables corporate bank accounts, merchant acquiring, and fiat payment processing that are typically unavailable to unregulated entities.
Ability to work with institutional capital Funds, brokers, and family offices are bound by their own regulatory and compliance rules and generally engage only with licensed counterparties. VASP status makes institutional partnerships viable.
Higher valuation and stronger investor appeal Authorization in DIFC, ADGM, or under VARA can shift a company from “high-risk startup” to a clearly regulated asset. This supports fundraising and can improve valuation at exit.
Personal protection for beneficial owners A formal license and transparent corporate structure help ring-fence liability, clearly separating management responsibility and reducing founders’ personal exposure.
Legally robust virtual asset operations Regulated status helps protect both client and company funds from arbitrary freezes. Transactions remain within a defined legal framework, reducing allegations of unlicensed activity, non-transparent transaction flows, or AML violations.
Tax transparency and planning Operating in a regulated environment with clear rules supports compliant tax planning, predictable cash-flow structuring, and audit-ready financial reporting.

Which digital asset activities require a license

  • Exchanges and trading platforms: operating marketplaces for buying, selling, or swapping virtual assets between users.
  • Brokerage services: executing buy/sell orders on behalf of clients.
  • Custody of digital assets: holding client crypto assets and professionally managing private keys.
  • Yield products: interest-bearing accounts, lending, margin, and other leveraged products involving borrowing against digital assets.
  • Asset management: building and managing virtual asset portfolios, including fund structures.
  • Advisory services: providing investment recommendations and strategies related to crypto assets.
  • Tokenization, gaming, and DAO platforms: projects where token issuance, in-game currencies, or DAO mechanics create financial instruments and may require a VASP license.
Get a detailed guide to licensing requirements for your crypto project

Get a detailed guide to licensing requirements for your crypto project

  • A complete list of regulatory requirements for capital and corporate structure
  • A budget breakdown for launch costs and ongoing operating expenses
  • A step-by-step licensing roadmap for a crypto business in 2026
Get a guide

Which business models require licensing

Exchange and trading operators

Any platform that facilitates buying and selling transactions, including CEXs, brokers, and DEXs with fiat on-ramps. Without a license, these projects typically cannot open corporate bank accounts and may face enforcement measures in the UAE, including potential domain restrictions.

Custodians and custody services

Companies that hold client assets or control private keys. This is one of the most heavily regulated activities and usually requires strict security standards and, in some cases, insurance coverage for client assets.

Web3 ecosystems and token issuers

Projects that issue their own tokens or build infrastructure for DAOs. Licensing enables compliant token launches and makes it easier to integrate with the traditional financial system.

Get a detailed consultation on crypto project licensing

Get a detailed consultation on crypto project licensing

Submit a request to discuss your business model, the applicable 2026 regulatory requirements, and your launch budget.

Unlock your options — consult with an expert today

Key requirements for VASP status

Authorization from the DFSA, FSRA, or VARA requires more than simply incorporating a legal entity. Applicants must demonstrate operational maturity across four core areas.

Paid-up share capital and liquidity
  • Capital level: The required amount depends on the license scope and transaction volumes. It can range from approximately USD 150,000 to several million, and it typically must be fully paid up before authorization is granted.
  • Source of funds / source of wealth: You are expected to disclose and document the full origin-of-funds chain for the beneficial owners and evidence the lawful source of capital.
  • Liquidity buffer: Regulators generally expect firms to maintain liquidity buffers (often covering 6–12 months of operating costs) to absorb potential losses and risk events.
Paid-up share capital and liquidity
Qualifications and key roles
  • Board of directors: Governance must include individuals with demonstrated experience in finance or fintech. Nominee arrangements are generally not acceptable for regulated activities.
  • Mandatory functions: You typically must appoint UAE-resident individuals to the roles of MLRO (money laundering reporting officer) and Compliance Officer, and obtain the regulator’s approval for these appointments.
  • Governance model: Clear segregation of duties (maker-checker controls), risk governance (including risk committees where required), and a transparent decision-making structure.
Qualifications and key roles
Anti-money laundering controls
  • Policies and procedures: Comprehensive AML/CFT policies and procedures tailored to virtual asset risks and your specific business model.
  • Client onboarding: A robust KYC/KYB framework covering identity verification, risk profiling, and ongoing review, including CDD/EDD where required.
  • Transaction monitoring: Configured monitoring tools (for example, Chainalysis or Crystal) to identify high-risk exposure, screen activity against sanctions lists, and flag suspicious patterns.
Anti-money laundering controls
Security and IT infrastructure
  • Cybersecurity: Implemented wallet security controls (MPC, multisig), encryption of user data, and DDoS protection.
  • Business continuity: A documented business continuity and disaster recovery plan (BCP/DRP), including procedures to restore access to assets in the event of disruptions or force majeure events.
  • Code and vendor assurance: Independent audits of smart contracts and core trading systems, plus formal SLAs with key technology vendors and service providers.
Security and IT infrastructure

Step-by-step VASP licensing process: from audit to launch

Step-by-step VASP licensing process: from audit to launch

Scoping and eligibility assessment

We assess your business model, including the services you plan to provide (exchange, custody, asset/portfolio management), and determine whether they fall within the VASP definition. We then identify the appropriate authorization track, whether a full license or a limited pathway (sandbox/innovation or tech-focused framework, where applicable).

Selecting the right regulatory jurisdiction

We compare the regulatory frameworks under DFSA (DIFC), FSRA (ADGM), VARA (Dubai), and SCA (as applicable). We select the jurisdiction that aligns with your budget, target timeline, and client profile, and define the permitted regulated activities (license scope).

Incorporation and corporate structuring

We establish the legal entity (SPV or operating company), secure local premises, and build the required team. At this stage, we appoint key function holders (CEO, MLRO, Compliance Officer) and finalize an ownership structure that is transparent and regulator-ready.

Preparing the regulatory business plan

We develop the core application package, including a 3-year financial model, AML/KYC policies, IT architecture documentation, and risk management frameworks. This becomes the foundation of the licensing submission.

Application submission and regulatory engagement

We submit the materials through the regulator’s portal and manage formal correspondence. We respond to DFSA/FSRA/VARA information requests, support the chosen operating model, and, where required, promptly refine policies and processes.

In-Principle Approval (IPA)

We obtain conditional approval, confirming the regulator’s readiness to proceed subject to final conditions. You then complete the remaining conditions, such as funding paid-up capital, opening the corporate bank account, and finalizing key hires.

Final authorization and go-live

Once all conditions are met, the regulator issues the final authorization (a Financial Services Permission or a VASP license, depending on the regime). The company is added to the public register, and you can legally commence regulated operations.

Calculate the full budget for licensing your project

We will prepare a detailed cost breakdown covering everything from company incorporation and regulatory fees to office lease expenses and key hires. You will see the true end-to-end cost of launching in DIFC, ADGM, or RAK DAO.

Calculate the cost
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FAQ

What types of crypto licenses are available in the UAE?

In the UAE, licenses are issued for crypto exchanges, custodial services, brokerage activities, crypto asset management, token issuance, and payment services. VARA in Dubai offers a full range of licenses. ADGM and DIFC focus on institutional services. Each jurisdiction has its own requirements and specialization by activity type.

How much does it cost to obtain a crypto license in the UAE?

The cost ranges from USD 50,000 to USD 500,000 and above, depending on the jurisdiction and license type. VARA: a registration fee of USD 15,000 and an annual license fee from USD 5,000 to USD 50,000. ADGM and DIFC are more expensive, starting from USD 100,000. Additional costs include an office, share capital (from USD 50,000), legal support, audit, and compliance systems.

What documents are required to apply for a crypto license?

You need a business plan describing the services, 3-year financial projections, AML/KYC and risk management policies, the company structure and beneficial owner information, resumes of key personnel, a description of IT infrastructure and security measures, as well as incorporation documents, proof of share capital, and an office lease agreement.

How long does it take to obtain a license for a crypto business?

The process takes 3 to 12 months. VARA reviews applications within 8–16 weeks if the documentation package is complete. ADGM and DIFC require 4–6 months due to stricter requirements. Timelines depend on the complexity of the business model, the quality of document preparation, and the regulator’s workload. Preliminary consultations can speed up the process.

Can you operate in the UAE without a crypto license?

No. Since 2023, all crypto activities in the UAE require licensing. Operating without a license can result in fines of up to USD 272,000, asset freezes, and criminal prosecution. The exception is personal investing without commercial activity. Companies must choose a jurisdiction (VARA, ADGM, or DIFC) before starting operations and obtain the appropriate authorization.

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