Dubai VARA is an institution established in accordance with the virtual asset regulatory laws of the Dubai Emirate. Its goal is to establish an advanced legal framework to protect investors and promote responsible growth in the virtual asset (VA) industry. It is responsible for licensing and regulating the virtual asset industry within the Dubai mainland and free zone territories, working in collaboration with the UAE Central Bank and the Securities and Commodities Authority to provide comprehensive services.
Advantages:
International standard recognition: VARA aims to regulate the virtual asset industry in accordance with international standards, providing a more stable investment environment for investors and businesses.
Legal protection: The virtual asset regulatory laws of the Dubai Emirate are designed to protect the interests of investors and ensure the legal and compliant operation of virtual asset trading and service providers.
Comprehensive services: VARA collaborates with the UAE Central Bank and other institutions to provide a range of services covering virtual asset issuance, trading, platform operation, and more.
How to register for Dubai VARA license:
Choose the operating region: Select the region in Dubai where you wish to operate, either the Dubai mainland or the Dubai free zone.
Create a bank account: Open a bank account for your company in Dubai for financial transactions.
Company registration: Establish a company engaged in computer programming and software development. Determine directors and board members, with at least the positions of CEO, CFO, and CTO.
Business plan: Develop a credible and detailed business plan and submit it to VARA for review. Approval of the business plan will be crucial for the subsequent process.
Submit documents: Once the business plan is accepted by VARA, you will need to submit other necessary documents and materials as required.