UAE Free Zone — VARA Virtual Assets Regulatory Framework Reference 2026
VARA (Virtual Assets Regulatory Authority) is Dubai’s regulator for virtual asset service providers. Here is the complete 2026 reference for crypto and digital asset businesses in UAE.
In this guide:
What Is VARA?
- Full name: Dubai Virtual Assets Regulatory Authority
- Established: 2022 via Law No. 4/2022
- Jurisdiction: Dubai (including most Dubai free zones; but NOT DIFC and ADGM which have own frameworks)
- Purpose: Regulate all virtual asset service providers (VASPs) operating in or from Dubai
Who Needs a VARA Licence?
- Exchange: Operating a platform for crypto-to-crypto or crypto-to-fiat exchange
- Broker-dealer: Acting as intermediary between buyers and sellers of virtual assets
- Asset management: Managing virtual asset portfolios on behalf of clients
- Transfer/settlement: Providing transfer or settlement services for virtual assets
- Advisory: Providing virtual asset investment advice to clients
Who Does NOT Need VARA Licence
- Consulting: Blockchain consulting; technology services; not involving client assets
- Software development: Blockchain development; smart contracts; DeFi protocol development (generally)
- Mining: Cryptocurrency mining is generally not a VASP activity
- Holding own crypto: Holding crypto for own account as treasury; not VASP activity
VARA Licence Classes (2026)
- Minimum Viable Product (MVP): For early-stage startups; limited scope and client limits
- Full Market Product (FMP): Full commercial licence for established VASPs
VARA Application Fees
- MVP application: USD 5,000-15,000
- FMP application: USD 20,000-50,000+ (activity-dependent)
- Annual fee: USD 10,000-50,000+ ongoing