.png){kind=spacer}
Companies involved in cryptocurrencies, blockchain technology, and virtual assets are mandated to register formally with the regulatory authority in Dubai. Work with our award-winning specialists to get fully licenced, and enjoy all the benefits of operating in the GCC
The license is administered by the Virtual Assets Regulatory Authority (VARA) and overseen by the Government of Dubai. It serves to encourage responsible market participation, creating an enabling environment for both corporate organizations and end-users in the virtual assets sector.
All new and existing companies that offer digital currencies and tokenized assets in the region need a license from VARA to commence or continue operations.
A VARA accreditation offers confirmation that your company’s activities fall within the regulatory parameters for virtual asset providers in Dubai
Virtual asset service providers who do not register with VARA and get licensed on time may be liable for penalty fees rising up to 500,000 AED
Dubai is in the process of developing a globally relevant digital asset ecosystem; this is your chance to compete and contribute internationally
Get an opportunity to advance the virtual assets sector, a hotbed of innovation that is being projected to have significant business impact
A VASP license demonstrates a willingness to adhere to global AML practices, and protect your customers and investors from scams
Sanctuary is a fully certified advisory firm with a team of award-winning
professionals specialised in the UAE and GCC business landscape.
An unimpeachable track record of top-quality service delivery
A client-first approach that’s bespoke and personalized
Experts with decades of experience operating globally
A highly influential and award-winning leadership team
A pragmatic, solution-oriented, and collaborative approach
Trusted
Clients
Companies Incorporated by Our Team Members
Combined Advisory
Experience
Experienced & Award
Winning Team Members
Please note that non-GCC nationals must already have a company to set-up in Saudi Arabia
VARA means Virtual Assets Regulatory Authority, and it’s a Dubai government agency that oversees the activities of digital assets providers, regulates the sector and issues the VASP (Virtual Asset Service Provider) license.
Depending on the availability of the required documents, the processing time for a VASP license from VARA may vary from company to company.
The process begins with a consultation with our team. Afterwards, clients get a list of documents they need to provide, along with guidance on how to secure the documents they may not currently possess
Not entirely. VARA stands for Virtual Assets Regulatory Authority, and it’s the body that issues the VASP (Virtual Asset Service Provider) license.
The virtual asset sector is very broad, so it’s critical to understand which services exactly are being regulated by VARA. Start a conversation with a Sanctuary representative now to get a better understanding of which activities are included under each license.
