Proxima Eight FZE LLC
Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
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Get Your VARA Crypto License in Dubai
Full Support for VARA Licensing, AML/KYC Compliance & Regulatory Navigation
UAE
9+ Years of Compliance Expertise
Project Based Delivery
Saudi Arabia
Oman
Bahrain
End-to-End Execution
Hands-on Partnership
Speed + Accuracy
Europe
Why Do You Need a VARA License in Dubai?
Mandatory for all crypto businesses in Dubai
Required for banking and investor trust
Non-compliance leads to fines and shutdown
Shows credibility and legal readiness
Our VARA Licensing Services
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License type consultation -
UAE company formation -
Regulatory representation -
Document preparation & submission -
AML/KYC compliance setup -
Post-license support
AML & KYC Compliance Services
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AML/KYC policy development -
Risk-based approach & onboarding -
Internal controls & reporting -
Compliance officer setup -
Staff training -
Ongoing monitoring
Why AML Zone?
Deep crypto compliance expertise
→ Our core team consists of experts in AML, CTF, and virtual asset regulation, with years of crypto-specific legal and operational experience.
Experience with real VARA cases
→ We’ve successfully guided VASPs through real MVP and FMP license applications — with practical insights into what VARA expects.
Clear pricing and deadlines
→ Fixed project-based fees, clear deliverables at each step, and realistic timelines for each licensing phase.
Local + global understanding
→ We combine knowledge of UAE and VARA frameworks with global best practices (EU, UK, Cayman, BVI, Estonia, Lithuania)
End-to-end service
→ From preparing your IDQ, risk matrix, and AML manual to structuring your Board and hiring a qualified MLRO — we handle it all.
Multilingual subtitles
→ Documentation and communication available in English, Russian, and Arabic — seamless support across cultures.
Step-by-Step Licensing Process
Free consultation
Strategy & license choice
Documentation & Review
Submission & Communication
Post-approval support
Frequently Asked Questions
The Virtual Assets Regulatory Authority (VARA) is the world’s first independent regulator for virtual assets. Based in Dubai, VARA was established to create a transparent and reliable framework for the regulation of virtual asset activities. Its mission is to enable innovation, reduce risk, and facilitate cross-border adoption of crypto and Web3 services through structured governance.
VARA classifies VASPs into three main categories:
- Category A: Entities in the process of applying for a Minimum Viable Product (MVP) license.
- Category B: Existing VASPs that were operational in Dubai prior to 7 February 2023 and were required to transition into the VARA licensing regime. The final deadline for license engagement was 17 November 2023, after which non-compliant entities may face enforcement actions.
- Category C: New applicants seeking a full VARA license or planning to expand their range of regulated activities.
Entities must obtain a VARA license for the following virtual asset-related activities:
- Virtual Asset Advisory Services
- Broker-Dealer Services
- Custody Services
- Exchange Services
- Lending and Borrowing Services
- Management and Investment Services
- Payment and Remittance Services
Exempted Entities are firms that have notified VARA and received formal No Objection Confirmation prior to commencing any virtual asset activities in Dubai. These entities are not required to obtain a VARA license, provided they operate within the scope of the exemption.
No. All businesses engaging in virtual asset activities in Dubai must be either:
- Fully licensed by VARA, or
- Operating under a licensed entity that holds a valid VARA license.
The VARA licensing process consists of two main stages:
Stage 1: Initial Disclosure Questionnaire (IDQ)
Submit IDQ via the Dubai Department of Economy and Tourism (DET) or an approved Free Zone Authority.
Stage 2: Full Market Product (FMP) License Application
Upon approval of Stage 1, applicants can proceed to the FMP phase, which may include additional conditions based on the business model and risk profile.
Stage 1: Initial Disclosure Questionnaire (IDQ)
Submit IDQ via the Dubai Department of Economy and Tourism (DET) or an approved Free Zone Authority.
Stage 2: Full Market Product (FMP) License Application
Upon approval of Stage 1, applicants can proceed to the FMP phase, which may include additional conditions based on the business model and risk profile.
Companies that are not yet operational or are in the early stages of planning a crypto business in Dubai may choose to voluntarily register with VARA. This includes:
- Firms intending to invest their own portfolios in virtual assets
- Technology service providers in the DLT/blockchain space
Applicants currently undergoing the MVP licensing process must coordinate with VARA to confirm whether a transition to the Full Market Product (FMP) license is required. VARA will assess each case and outline the remaining steps, if any. The final submission deadline for completing the FMP application was 17 November 2023.
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