Dubai is rapidly emerging as a global hub for digital asset innovation. Supported by a robust regulatory framework and a strategic geographic location connecting the Middle East, Europe, Africa, Asia, and beyond, Dubai presents an ideal environment for launching a Virtual Asset Service Provider (VASP).
This proposal outlines a comprehensive plan for Investors to establish itself as a trusted and efficient digital asset service provider targeting both retail and institutional clients.
The global digital asset market is projected to reach $10 trillion by 2030, driven by the adoption of stablecoins, tokenized assets, and decentralized finance (DeFi). Dubai, with its progressive regulatory environment, is well-positioned to attract international investors seeking compliant and secure digital asset services.
Stablecoins like USDT, USDC, and DAI have become critical for cross-border payments, remittances, and hedging against volatility. Additionally, top market-cap tokens (e.g., BTC, ETH, SOL) are increasingly used as investment vehicles. By offering brokerage services for these assets, Investors can tap into a lucrative and growing market.
| License Type | Authority / Jurisdiction | Description |
|---|---|---|
| Crypto License (IFZA) | International Free Zone Authority | Ideal for blockchain consulting and digital wallet services. |
| DMCC Crypto License | Dubai Multi Commodities Centre | Supports proprietary crypto trading and blockchain-based businesses. |
| ADGM Crypto License | Abu Dhabi Global Market (FSRA) | Focused on exchanges, custody, and asset management with strong AML oversight. |
| Crypto Exchange License | VARA / FSRA | Required for operating crypto exchanges. |
| DLT License | DIFC / DMCC / DAFZA | For non-financial blockchain applications. |
| DWTC Crypto License | Dubai World Trade Centre | Crypto platforms with VARA compliance. |
| Crypto Asset License | VARA | Covers custody, asset management, tokenization, and wallet services. |
Guaranteed T+2 Settlement Time
Fast and reliable transaction settlement.
Most Competitive Global Brokerage Fees
Leveraging strategic partnerships for cost efficiency.
Large-Volume Settlements
Tailored to institutional clients and HNWIs.
No Threshold Limitations
Open access for all client segments.
Cross-Border Stablecoin Settlements
Reduced cost and time for global transactions.
Advanced Compliance & Security
AML/KYC with blockchain analytics
Cybersecurity protocols (MFA, encryption)
Insurance & audit frameworks
First-Mover Advantage
Establishing early leadership in a fast-growing space.
Regulatory Compliance
Enhances institutional trust and reduces risk.
Global Reach
Settlement across G20 currencies and stablecoins.
Scalability
Expandable to more digital assets and financial products.
| Document Type | VARA | DFSA | FSRA | SCA |
|---|---|---|---|---|
| Business Plan | ✅ | ✅ | ✅ | ✅ |
| Corporate Structure Info | ✅ | ✅ | ✅ | ✅ |
| AML/KYC Policy | ✅ | ✅ | ✅ | ✅ |
| Compliance Framework | ✅ | ✅ | ✅ | ✅ |
| Cybersecurity Policy | ✅ | ✅ | ✅ | ✅ |
| Financial Statements | ✅ | ✅ | ✅ | ✅ |
| Key Staff Background | ✅ | ✅ | ✅ | ✅ |
| Risk Management | ✅ | ✅ | ✅ | ✅ |
| Application Form | ✅ | ✅ | ✅ | ✅ |
| Document Type | VARA | DFSA | FSRA | SCA |
|---|---|---|---|---|
| Business Plan | ✅ | ✅ | ✅ | ✅ |
| Corporate Structure & Shareholder Info | ✅ | ✅ | ✅ | ✅ |
| AML/KYC Policy | ✅ | ✅ | ✅ | ✅ |
| Compliance Framework | ✅ | ✅ | ✅ | ✅ |
| Cybersecurity Policy | ✅ | ✅ | ✅ | ✅ |
| Financial Statements | ✅ | ✅ | ✅ | ✅ |
| Key Staff Background Checks | ✅ | ✅ | ✅ | ✅ |
| Risk Management Strategy | ✅ | ✅ | ✅ | ✅ |
| Application Form | ✅ | ✅ | ✅ | ✅ |
VARA – Dubai Virtual Assets Regulatory Authority
FSRA – Abu Dhabi Global Market
DFSA – Dubai International Financial Centre
SCA – Securities and Commodities Authority (Federal)
Consultation & Planning (1 week)
Pre-Approval Application (2 weeks)
Due Diligence (4–6 weeks)
Final Application (2 weeks)
License Issuance (1–2 weeks)
| Item | Cost (AED) |
|---|---|
| Registration Fee (One-Time) | 2,000 |
| License Fee – Year 1 | 25,000 |
| License Fee – Year 2+ | 27,000 |
| Establishment Card (Annual) | 2,300 |
| Security Deposit (Refundable) | 3,500 |
| Executive Office (3 Visa Quota) | 49,000 / year |
| Executive Office (6 Visa Quota) | 70,000 / year |
| Additional VA Activity (Annual) | 8,000 / activity |
Company setup through DET or DWTC
Secure office space and initial approval
Submit documentation to VARA
Review, feedback, and final fees
License issued upon approval
Custody Services must operate as a separate legal entity
VASPs are prohibited from proprietary trading under the VASP license
| Activity | Application Fee | Annual Supervision Fee |
|---|---|---|
| Advisory Services | AED 40,000 | AED 80,000 |
| Broker Dealer Services | AED 100,000 | AED 200,000 |
| Custody Services | AED 100,000 | AED 200,000 |
| Exchange Services | AED 100,000 | AED 200,000 |
| Lending and Borrowing Services | AED 100,000 | AED 200,000 |
| VA Management and Investment Services | AED 100,000 | AED 200,000 |
| VA Transfer and Settlement Services | AED 40,000 | AED 80,000 |
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