Regulatory Licensing

Financial Services Licence Application & Advisory

FXBX provides end-to-end licence application management and advisory across 15 regulatory licence categories — covering FX, payments, crypto/VASP, and UAE-regulated frameworks including SCA, ADGM, VARA, and Freezone structures.

Licence Categories

VARA — UAE Regulated

Dubai Virtual Assets Regulatory Authority Licence

Regulatory Authority: Virtual Assets Regulatory Authority (VARA) — Dubai  |  Region: UAE (Dubai)

What the Licence Permits

  • Virtual asset exchange services (VA exchange)
  • Virtual asset broker-dealer services
  • Virtual asset custody and wallet services
  • Virtual asset lending and borrowing services
  • Virtual asset management and investment services
  • Virtual asset transfer and settlement services

Target Client Profile

  • Crypto exchanges seeking a regulated Dubai VASP licence
  • Digital asset broker-dealers targeting UAE and MENA clients
  • Virtual asset custodians and wallet service providers
  • DeFi and Web3 firms seeking a regulated UAE operating base
  • Entities requiring VARA authorisation for Dubai-based VA operations

Key Regulatory Requirements

  • VARA Minimum Viable Product (MVP) licence or Full Market Product (FMP) licence
  • Minimum capital requirements — varies by VA activity (AED 600,000–AED 10,000,000+)
  • Fit and proper assessment for directors, senior management, and key personnel
  • Comprehensive AML/CTF compliance program (VARA Rulebook-aligned)
  • Travel rule compliance framework
  • Technology, cybersecurity, and operational resilience requirements
  • Physical presence in Dubai — registered office and substance requirements
  • Consumer protection and disclosure framework

FXBX Scope of Work

  • VARA licence category assessment and application strategy
  • Dubai entity incorporation and registered office setup
  • VARA application preparation, submission, and authority liaison
  • AML/CTF compliance program development (VARA Rulebook-aligned)
  • Travel rule compliance framework implementation
  • Technology and cybersecurity framework advisory
  • Banking access advisory for VARA-licensed entities
  • Ongoing VARA compliance and regulatory reporting support

Typical Timeline

6–12 months from application to VARA Full Market Product licence grant

Timelines are indicative only and subject to regulatory authority processing times, completeness of application, and other factors outside FXBX's control.

Value Proposition

VARA is Dubai's dedicated virtual assets regulator — the first of its kind in the MENA region. A VARA licence provides the most credible and internationally recognised regulatory credential for virtual asset service providers operating in or from Dubai. Dubai's strategic position as a global financial hub, combined with VARA's progressive regulatory framework, makes it the premier jurisdiction for institutional-grade digital asset operations in the Middle East.

Regulatory Disclaimer: All information regarding licensing requirements, timelines, and regulatory frameworks is provided for general informational purposes only and is subject to change. FXBX does not guarantee any particular regulatory outcome. Regulatory authority decisions are made at the authority's sole discretion. Prospective applicants should seek independent legal advice regarding their specific circumstances before commencing any licence application.