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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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VARA Broker-Dealer Services Licence: Executing Client Orders in Dubai's Regulated Crypto Market
The Broker-Dealer licence authorises executing VA buy/sell orders on behalf of clients through third-party venues. If you act as intermediary between clients and exchanges - this is your category.
9+ Years of Compliance Expertise
End-to-End Execution
What Is the VARA Broker-Dealer Licence?
A VARA Broker-Dealer executes virtual asset transactions on behalf of clients, routing orders to regulated exchanges or other venues. This covers:
- OTC desks executing client orders through external venues
- Introducing brokers placing orders on regulated exchanges
- Prime brokers aggregating liquidity for institutional clients
- Firms providing best-execution services for VA transactions
Capital Requirements
Structure
Paid-Up Capital
Using a VARA-licensed custodian
Higher of AED 400,000 or 15% of fixed annual overheads
Without VARA-licensed custodian
Higher of AED 600,000 or 25% of fixed annual overheads
Note: Using a licensed custodian reduces both capital requirement and operational complexity significantly.
Key Requirements
Responsible Individuals
2 RIs required — UAE residents or UAE passport holders, full-time employees, VARA-approved.
Best execution
Broker-Dealers must implement and document best-execution policies demonstrating client orders are executed at best available terms.
Client classification
Retail, Professional, and Market Counterpart tiers must be implemented. Retail clients require suitability assessments.
Custody
If holding client assets directly, Custody Services licence required, or use a VARA-licensed custodian.
Physical presence
Private office in Dubai required.
What We Do for You
- Activity scopingDetermine Broker-Dealer vs Exchange Services. Many OTC models sit at this boundary - correct classification matters for capital and timeline.
- Custodian structuringThird-party custodian vs in-house Custody licence: cost-benefit analysis for your specific model.
- AML/KYC frameworkFull AML programme, KYT integration, travel rule compliance.
- Best-execution frameworkPolicy, order routing procedures, and client disclosure documentation.
- Full ATI and VASP applicationEnd-to-end management.
Frequently Asked Questions
Exchange operators run their own matching engine. Broker-Dealers route client orders to exchanges. The distinction determines which rulebook applies and what capital is required.
Only with a separate Custody Services licence or using a VARA-licensed custodian.
No direct passporting. However, MiCA authorisation supports the fit-and-proper narrative and demonstrates regulatory track record, which VARA considers.
Related
Start Your VARA Broker-Dealer Services Licence Process
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Please note: We do not provide any personalized investment advice, token selection guidance, or transaction recommendations. AMLzone is a compliance consultancy and project management services provider, not a Virtual Asset Advisor.
Please note: We do not provide any personalized investment advice, token selection guidance, or transaction recommendations. AMLzone is a compliance consultancy and project management services provider, not a Virtual Asset Advisor.