Dubai VARA License 2026: Capital, Fees & Process
What it takes to obtain VASP licence (exchange, broker-dealer, custody, advisory, etc.) in Dubai (VARA): the regulator, minimum capital, local substance, typical timeline and how hard it is to open a corporate bank account, based on regulator publications as of October 2026.
Regulators differ by zone: Dubai mainland and free zones (VARA), DIFC (DFSA), ADGM (FSRA) and the onshore Central Bank. The UAE left the FATF grey list in February 2024.
Key facts (October 2026)
| Regulator | Virtual Assets Regulatory Authority — Dubai mainland and free zones except DIFC |
|---|---|
| Main licences | VASP licence (exchange, broker-dealer, custody, advisory, etc.) |
| Minimum capital | Exchange AED 1.5m (AED 800k if custody outsourced) / broker-dealer, custody AED 600k / advisory AED 100k |
| Local substance | Two responsible individuals and the compliance officer resident in the UAE |
| Typical timeline | Approval to incorporate, then full licence |
| Corporate banking | Capital must be evidenced during the process, so a UAE bank account comes first |
Capital and fees are taken from regulators' rules and publications (October 2026), in local currency, and are confirmed case by case before applying.
What to consider
- Application fee AED 100k (AED 40k for advisory and transfer/settlement); each extra activity adds 50% of the lower fee.
- Annual supervision AED 200k per activity (AED 80k for advisory etc.).
- A change of control is possible with VARA's prior approval, so acquiring a licensed VASP is an option.
Serving clients in Japan
A foreign licence does not let you deal with residents of Japan in FX, securities or crypto: as a rule, Japanese registration is required. See Japan rules.
FAQ
What is the minimum capital for a financial licence in Dubai (VARA)?
Exchange AED 1.5m (AED 800k if custody outsourced) / broker-dealer, custody AED 600k / advisory AED 100k. Requirements can rise with the activities and size of the business.
How long does licensing take in Dubai (VARA)?
Approval to incorporate, then full licence. Missing documents extend the timeline, so preparation matters.
Do I need staff or an office in Dubai (VARA)?
Two responsible individuals and the compliance officer resident in the UAE. Nominee-only structures are not accepted; real management and compliance are expected.
Can I open a corporate bank account in Dubai (VARA)?
Capital must be evidenced during the process, so a UAE bank account comes first. We recommend preparing banking in parallel with the licence application.
Ask us about Dubai (VARA)
We compare jurisdictions, advise whether a new application or an acquisition fits better, and assess banking. The first 30-minute online consultation is free.
Ask us about Dubai (VARA)