A new dedicated hub for the emerging virtual assets future economy.
Dubai’s Virtual Assets Regulatory Authority (VARA) regulates, supervises, and oversees the provision, use, and exchange of virtual assets in or from the emirate of Dubai, including the DWTC free zone.
Any firm seeking to conduct virtual assets activities in or from Dubai (excluding DIFC) must obtain a Virtual Assets Service Provider (VASP) License before initiating operations. The VARA’s Virtual Assets and Related Activities Regulations provide a comprehensive framework for virtual assets, grounded in principles of economic sustainability and cross-border financial security. This encompassing virtual assets regulatory framework offers regulatory assurance, which aims to ensure investor safety, promote sustainable market growth, and maintain overall stability in the virtual assets sector.
A growing number of globally respected and trusted virtual assets companies anchor our future economy-focused community.
Binance FZE
Hex Trust MENA FZE
Trek Labs Ltd FZE
COINMENA FZE
Morpheus Software Technology FZE
Laser Digital Middle East FZE
Fasset FZE
VALR FZE
HT Markets MENA FZE
Deribit
Dubai’s business-forward outlook makes it an excellent prospect for the Virtual Assets industry. When considered alongside Dubai’s favorable tax regime, its legal and regulatory framework, the emirate’s legislative autonomy and its sound competitive market fundamentals, the DWTC free zone presents a compelling proposition and destination Vitual Asset Services Providers to establish and relocate.
VARA’s different regulated Virtual Asset (VA) activities span the current spectrum of available VA services. VASPs seeking to offer the below services, in or from the emirate of Dubai, must first obtain a license from VARA before starting their operations.
Proprietary Trading & Virtual Asset Issuance Activities
In co-ordination with the Virtual Assets Regulatory Authority (VARA), DWTC Authority’s Virtual Assets Service Provider (VASP) License Application Guidelines clarify the process of incorporating a Free Zone Company (FZCO),a Free Zone Establishment (FZE), or a Branch of a licensed UAE company for conducting Virtual Asset Activities within the DWTC Free Zone. All applicants must fulfil the requirement of obtaining a VASP License from the Virtual Assets Regulatory Authority (VARA), in combination with an Operational License from DWTC Authority, to ensure compliance with regulatory standards.
Once the necessary licenses have been successfully acquired, applicants will be subject to regulations from DWTC Authority and other relevant UAE authorities. While DWTC Authority extends valuable guidance on the Dubai Virtual Asset Framework, it should be noted that any guidance or decisions made by VARA fall outside of our purview of responsibility and liability.
Applicants can establish their company/entity with DWTC Authority to conduct Virtual Assets activities by following the steps below.
Submit an
Online Application
The applicant must include all documents requested by DWTC Authority.
More documents / further information may be requested based on DWTC Authority’s due diligence.
Secure DWTC Authority
Initial Approval
The applicant must submit a completed Initial Approval VASP Questionnaire (VARA form) and obtain a pre-approval from VARA.
The applicant needs to pay the DWTC Authority fee.
Sign the Corporate
Documents
The applicant must sign the Memorandum and Articles of Association with the required capital set by the DWTC Authority.
Submit
Office Lease
The applicant must provide a copy of the lease agreement of a private physical office, evidencing details of the premises leased to be used as the applicant’s registered office within the free zone.
Obtain a Non-operational Virtual Assets License
After completing the mandatory requirements, DWTC Authority will issue a Non-Operational Virtual Assets License to the applicant.
Operational
License Issuance
The applicant must get VASP License/Exemption from VARA to conduct Virtual Assets Activities.
DWTC Authority issues an Operational License.
Note: If the applicant does not obtain the VASP License from VARA within the one-year validity of the Non-Operational License issued by DWTC Authority, the non-operational license will not be renewed – this is inclusive of visas and establishment cards, if applicable. Any fee or costs paid to DWTC Authority will be forfeited by the applicant.