Dubai VARA is an institution established under the virtual asset regulatory regulations of the Emirate of Dubai. Its goal is to establish an advanced legal framework to protect investors and promote the responsible growth of the virtual asset (VA) industry. It is responsible for licensing and regulating the virtual asset industry in Dubai mainland and free zone territories, and cooperates with the Central Bank of the UAE and the Securities and Commodities Authority to provide a full range of services.
Advantage:
International Standard Recognition: VARA aims to prudently regulate the virtual asset industry in accordance with international standards and provide a more robust investment environment for investors and businesses.
Legal protection: The virtual asset regulatory laws and regulations of the Emirate of Dubai are designed to protect the interests of investors and ensure the legal and compliant operations of virtual asset transactions and service providers.
Full range of services: VARA works with the UAE Central Bank and other institutions to provide a range of services covering virtual asset issuance, trading, platform operations, etc.
How to Register for Dubai VARA License:
Select the area of operation: Select the area in Dubai where you wish to operate, either Mainland or Freezone.
Create a bank account: Open a bank account for your company in Dubai to facilitate fund operations.
Company registration: Establish a company engaged in computer programming and software development. Determine the directors and board members, at least the CEO, CFO and CTO positions are required.
Business Plan: Develop a credible and detailed business plan and submit it to VARA for review. The approval of the business plan will be the key to the subsequent process.
Submit documents: Once your business plan is accepted by VARA, you will need to submit other necessary documents and materials as required.