Crypto License in Dubai
The Consulting24 Team has successfully completed over 500 licenses.
Consulting24 CEO: Mr. Mardo Soo
Available Activities 2024 for Dubai Crypto License
Advisory Services
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Cryptocurrency investment advice.
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Portfolio management guidance.
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Regulatory compliance consulting.
Broker-Dealer Services
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Buying and selling cryptocurrencies.
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Trade order execution.
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Investment advice and brokerage.
Custody Services
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Secure storage of digital assets.
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Account management for crypto holdings.
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Transaction support services.
Exchange Services
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Cryptocurrency trading platform operations.
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Market liquidity provision.
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Exchange security and user protection.
Lending and Borrowing Services
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Crypto-backed loans and borrowing.
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Interest-bearing crypto accounts.
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Collateralized lending and margin trading.
VA Management and Investment Services
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Managing crypto investment funds.
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Virtual asset portfolio management.
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Crypto investment strategies.
VA Transfer and Settlement Services
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Virtual asset transfer and settlement.
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Crypto payment and remittance solutions.
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Secure transaction processing.
Crypto License in Dubai - How does it Work?
In Dubai, the crypto industry operates within a regulatory framework overseen by the Virtual Assets Regulatory Authority (VARA) www.vara.ae. Established to supervise and regulate the distribution, utilization, and trade of virtual assets, VARA plays a crucial role in shaping the crypto landscape in the Emirate of Dubai.
The Virtual Assets Regulatory Authority (VARA) plays a crucial role in regulating Dubai's cryptocurrency market. Key responsibilities include:
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Regulatory Oversight: VARA ensures businesses with a Dubai crypto license comply with legal and financial regulations, maintaining market integrity.
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Licensing: To operate in Dubai's crypto sector, companies must obtain a Dubai crypto license from VARA, covering activities like exchanges and advisory services.
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Consumer Protection: VARA focuses on safeguarding investors in the crypto market by enforcing transparency and security standards.
VARA's involvement is essential in maintaining a regulated and secure environment for Dubai's growing cryptocurrency industry.
Book a meeting for Dubai crypto license info.
Obtaining a Crypto License in Dubai
To operate legally in Dubai, businesses must navigate the process of obtaining a crypto license through VARA. This involves:
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Application Submission: Businesses must submit a comprehensive application, detailing their operational plans, security measures, and compliance strategies.
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Compliance with Regulations: Applicants must demonstrate adherence to anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations, among others.
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Financial and Operational Audits: VARA may require audits to assess the financial health and operational readiness of the applying business.
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Continuous Monitoring: Once a license is granted, VARA continues to monitor the activities of the licensee to ensure ongoing compliance with its regulations and standards.
Dubai Crypto License Cost - A Comprehensive Government Fees Overview
VA Activity | Licence Application Fee [ per Activity] | Licence Extension Fee | Annual Supervision Fee | Share Capital |
|---|---|---|---|---|
VA Transfer and Settlement Services | AED 40,000 10,900$ | AED 20,000 5,450$ | AED 40,000 10,900$ | 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 40,000 10,900$ | AED 100,000. |
Broker-Dealer Services | AED 100,000 27,250$ | AED 50,000 13,125$ | AED 100,000 27,250$ | 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 100,000 27,250$ | 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 100,000 27,250$ | 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 100,000 27,250$ | 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 100,000 27,250$ | 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 License in Dubai: Cost!
Here's a summary of the costs associated with obtaining a crypto license in Dubai, presented in a tabular format:
Cost Item | Amount (USD) | Frequency |
|---|---|---|
Registration Fee | 5,000 | One-Time |
Articles of Association (AOA) | 750 | One-Time |
License Fee | 10,000 | Annual |
Establishment Card | 750 | Annual |
Application Fee | 5,000 | One-Time |
When obtaining a crypto license in Dubai, office space is a key consideration. Here's a summary of the options and their costs:
Office Space Type | Cost (AED/USD) | Visas Offered | Additional Info |
|---|---|---|---|
Flexi Desk | AED 16,800 (USD 4,575) | Up to 3 | Plus AED 1,000 deposit and AED 656 fee |
Crypto Centre Co-working Desk | AED 19,000 (USD 5,173) | Up to 3 | |
Serviced Office | From AED 35,000 (USD 9,615) | 4 to 5 | |
Physical Office for Lease | AED 50 - 150 per sq ft | 1 per 9 sq m | (USD 15-40 per sq ft) |
Physical Office for Sale | AED 500 - 1,500 per sq ft | 1 per 9 sq m | (USD 130-400 per sq ft) |
Note: These are estimated office space prices and may vary. Consulting24 offers assistance in setting up the office with a service fee of USD 1000. This fee is separate from the office space costs listed above.
Compare Dubai, Lithuania & Estonia's Crypto License
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
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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
"Vi tar sikte på å tilby
raskt og effektivt forretningsoppsett, med et ... smil "
Mardo Soo
Founder
"Estiske kryptolisenser er det beste valget for kryptovirksomheten å få lisenser. Det er totalt over 230 kryptolisenser utstedt i Estland ."
