Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the VARA or FSRA decision, including banking and payment rails.
Get a crypto license in the UAE.
The Emirates run the world's first regulator built only for virtual assets. VARA in Dubai, the FSRA in Abu Dhabi's ADGM, and our own Dubai office to carry your file through either. 0% personal tax included.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
UAE in brief
The first state with a dedicated virtual-asset regulator.
Dubai created VARA in 2022 - the world's first authority regulating nothing but virtual assets, and it licenses by activity: advisory, broker-dealer, custody, exchange, lending, management and issuance each carry their own rulebook and capital floor, from AED 300,000 for advisory to AED 2,000,000 for an exchange. Abu Dhabi's ADGM has run its own FSRA crypto framework since 2018, the region's institutional benchmark. VARA covers all of Dubai outside the DIFC; there is no cross-emirate passporting.
Around the licence sits the most founder-friendly wrapper of any serious hub: 9% federal corporate tax with a 0% band, 0% on qualifying free-zone income, no personal income tax and no withholdings. The price is substance - resident executives, a pre-approved MLRO, real premises and local staff. Our Dubai office at Al Saqr Business Tower builds exactly that, file by file.
Dubai's VARA - the world's first virtual-assets-only regulator - licenses seven activities with capital floors from AED 300k; ADGM's FSRA has run the institutional framework since 2018.
Around it: 9% corporate tax with a 0% band, 0% qualifying free-zone income, no personal tax. Our Dubai office builds the substance and carries the file.
Licence types
Two regulators - one activity-based logic.
Both UAE regimes license the activity, not the company: you apply for exactly the services you will provide, each with its own capital floor and rulebook. Dubai's VARA runs a two-stage process. In-principle approval, then the operating permit; ADGM's FSRA issues a Financial Services Permission on the same logic.
Both regimes license the activity, not the company. Each class has its own capital floor and rulebook.
01 - DUBAI · VARA
VASP licence by activity
Seven activity classes with their own capital floors. Advisory from AED 300,000, broker-dealer from AED 500,000, custody and exchange from AED 2,000,000. Two stages: in-principle approval, then the operating permit.
Seven activity classes with their own capital floors. Advisory from AED 300,000, broker-dealer from AED 500,000, custody and exchange from AED 2,000,000. Two stages: in-principle approval, then the operating permit.
- ✓Advisory · broker-dealer · custody · exchange
- ✓Lending & borrowing · VA management · issuance
- ✓Capital AED 300,000 - 3,000,000 by class
- ✓Resident CEO, pre-approved MLRO, real premises
- ✓3-9 months depending on the class mix
- ✓Covers all of Dubai outside the DIFC
02 - ABU DHABI · ADGM
Institutional benchmarkFSRA Financial Services Permission
The region's oldest crypto framework - since 2018. Inside a common-law free zone. Expenditure-based capital, English courts and the supervisor institutional counterparties know best.
The region's oldest crypto framework. Common law, English courts, the institutional choice.
- ✓Regulated virtual-asset activities under the FSMR
- ✓Exchange (MTF), custody, broker-dealer scopes
- ✓Capital set from expenses and activity floors
- ✓Common-law courts and English-language filings
- ✓6-10 months for a full authorisation
- ✓The choice of funds, desks and institutions
Costs and timelines are confirmed for your case before any work begins. Capital depends on the activity mix - from AED 300,000 for advisory to AED 2,000,000+ for custody or an exchange, and regulator and third-party fees are itemised in your quote.
Why the UAE
A purpose-built regulator and a 0% personal wrapper.
The framework rests on Dubai's Virtual Assets Law (Law No. 4 of 2022), VARA's activity rulebooks, and. In Abu Dhabi. The ADGM's FSMR framework run by the FSRA since 2018. Nowhere else is crypto regulation this native.
✓
A regulator built for crypto
VARA regulates nothing else: rulebooks per activity, supervisors who know the products, and a two-stage path. In-principle approval first. That de-risks the spend before full build-out.VARA regulates nothing else; two-stage path de-risks the spend.
✓
Activity-based precision
You license exactly what you do. An advisory desk is not asked for exchange-grade capital: floors run from AED 300,000 (advisory) through AED 500,000 (broker-dealer) to AED 2,000,000 (custody, exchange).License what you do: AED 300k advisory → AED 2M exchange.
✓
ADGM for the institutions
Since 2018 the FSRA has authorised the region's serious venues and custodians inside a common-law free zone with English courts. The permission institutional counterparties respect most.FSRA since 2018. Common law, English courts.
✓
The 0% personal equation
No personal income tax on salaries, dividends or crypto gains. Founders and key hires keep what they earn, which also makes UAE relocation packages cheaper than their gross suggests.No income tax on salaries, dividends or crypto gains.
✓
9% / 0% corporate wrapper
Federal corporate tax is 9% above AED 375,000, and a Qualifying Free Zone Person pays 0% on qualifying income. VAT exempts virtual-asset transfers retrospectively to 2018.9% over AED 375k; 0% qualifying free-zone income.
✓
Substance we build on site
Resident executives, pre-approved MLRO, premises and 5+ local hires are the real entry ticket. Our Dubai office recruits, houses and payrolls that substance for you.Execs, MLRO, premises and staff. Via our Dubai office.
How it compares
How the UAE differs from other hubs.
The UAE trades the EU's one-passport simplicity for regulatory depth and the best tax wrapper of any serious jurisdiction. The real comparison is activity by activity, and often the answer is a UAE licence alongside an EU one.
UAE vs other jurisdictions
| Feature |  UAE | Other jurisdictions |
|---|---|---|
| Regulator | Purpose-built (VARA) + FSRA | General financial regulators |
| Licensing model | Per activity, capital by class | One-size licences |
| Personal tax | 0% | 15-35% common |
| Market coverage | UAE (no EU passport) | EU CASP covers 27 states |
Regulator
UAEPurpose-built (VARA) + FSRA
Other jurisdictionsGeneral financial regulators
Licensing model
UAEPer activity, capital by class
Other jurisdictionsOne-size licences
Personal tax
UAE0%
Other jurisdictions15-35% common
Market coverage
UAEUAE (no EU passport)
Other jurisdictionsEU CASP covers 27 states
Regulator by regulator
| Jurisdiction | License type | Taxation | Requirements |
|---|---|---|---|
| Dubai (VARA) | VASP by activity - 7 classes | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
| Abu Dhabi (ADGM) | FSRA FSP - FSMR framework | 0% qualifying free zone | Institutional bar, 6-10 months |
 Singapore | MAS DPT (SPI / MPI) | 17% CIT, no CGT | Selective, 9-12+ months |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT | EU passport, 4-6 months |
Dubai (VARA)License typeVASP by activity - 7 classes
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
Abu Dhabi (ADGM)License typeFSRA FSP - FSMR framework
Taxation0% qualifying free zone
RequirementsInstitutional bar, 6-10 months
SingaporeLicense typeMAS DPT (SPI / MPI)
Taxation17% CIT, no CGT
RequirementsSelective, 9-12+ months
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT
RequirementsEU passport, 4-6 months
Before you apply
Requirements for a UAE virtual-asset licence.Requirements for a UAE licence.
Both regulators assess the same fundamentals: who runs the business, where the capital sits and whether compliance actually operates from the Emirates. The checklist below is what a credible file contains.
01
UAE entity. A Dubai company for VARA or an ADGM entity for the FSRA, with real premises (no virtual offices).
02
Paid-up capital - from AED 300,000 (advisory) to AED 2,000,000+ (custody, exchange) at VARA; expenditure-based at ADGM.
03
Resident leadership. CEO and executive director ordinarily resident in the UAE; the regulator interviews them.
04
Pre-approved MLRO and compliance officer. Named individuals, vetted before the licence is granted.
05
Fit & proper shareholders. Clean records and source-of-wealth evidence for qualifying holders.
06
Business plan. Activities, volumes, target clients and three-year financials the supervisor can test.
07
AML/CFT framework. Federal AML law and regulator rulebooks: KYC, monitoring, goAML reporting, travel rule.
08
Technology and custody controls. Key management, wallet segregation, cybersecurity and audit trails.
09
Local staff. Material employment in the Emirates (typically five or more) matched to the activity mix.
10
Insurance and safeguarding. Client-asset protection arrangements per activity rulebook.
11
Two-stage filing at VARA. In-principle approval first, operating permit after conditions are met.
01
UAE entity with real premises - no virtual offices.
02
Capital - AED 300k to 2M+ by activity class.
03
Resident CEO and executive director.
04
Pre-approved MLRO and compliance officer.
05
Fit & proper shareholders with source of wealth.
06
Business plan with testable financials.
07
AML/CFT. KYC, goAML, travel rule.
08
Technology and custody controls.
09
Material local staff for the activity mix.
10
VARA: in-principle approval → operating permit.
Reflects VARA rulebooks and ADGM FSMR practice as of 2026. There is no cross-emirate passporting. The licence covers its own jurisdiction.VARA rulebooks and ADGM FSMR practice, 2026. No cross-emirate passporting.
How it works
From first call to an operating permit.
01
Regulator and activity scoping
VARA or ADGM; which activity classes; what capital they trigger. Fixed in writing before you commit.VARA or ADGM; classes and capital. Fixed in writing.
02
Entity, premises and people
Company formation, office, resident executives and the MLRO candidate. The substance the file will be judged on.Company, office, resident execs and the MLRO candidate.
03
The application file
Business plan, AML/CFT, technology and custody packs per the activity rulebook. Submitted for in-principle approval.Business plan, AML and tech packs → in-principle approval.
04
IPA to operating permit
We clear the regulator's conditions. Capital injection, hires, systems demos, and convert the in-principle approval into the licence.Capital, hires and demos. Conditions cleared to licence.
05
Launch and ongoing compliance
Reporting calendars, goAML flows, audits and rulebook updates. We keep the permit healthy while you run the business.Reporting, goAML, audits and rulebook updates.
Quick facts
RegulatorsVARA · ADGM (FSRA)
ModelPer-activity licences
CapitalAED 300k - 3M
In practice4-9 months
Stages at VARAIPA → operating permit
SubstanceResident execs + MLRO
Corporate tax9% · 0% free zone
Personal taxNone
Timeframes assume a complete file; capital and conditions scale with the activity mix.
On the ground in Dubai
Local expertise, not a faceless agency.
Prifinance - UAE
Dubai · Al Saqr Business Tower
33 Level, Al Saqr Business Tower
01
Choosing the regulator
VARA or ADGM. We scope your activities, capital and client base against both and recommend one in writing before any spend.VARA vs ADGM. Compared in writing for your case.
02
Company, premises and visas
Entity formation, office space that passes inspection, residence visas for executives. The substance layer, delivered locally.Entity, office and residence visas - delivered locally.
03
The application file
Business plan, AML and technology packs to the activity rulebook. Drafted by us and defended through in-principle approval to the permit.Rulebook-grade packs, defended from IPA to permit.
04
MLRO and staffing
Pre-approval-ready MLRO and compliance hires, payroll and PRO services. The people the licence stands on.Pre-approval-ready hires, payroll and PRO services.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in the UAE.
The UAE wrapper is the simplest of any major hub: 9% federal corporate tax with a 0% band, no personal income tax at all, and free-zone regimes that can bring qualifying income to zero.
Corporate tax 9%
Federal corporate tax applies at 9% above AED 375,000 of profit (Federal Decree-Law No. 47 of 2022); below that band the rate is 0%.Above AED 375k; 0% below the band.
Free zones: 0% on qualifying income
A Qualifying Free Zone Person pays 0% on qualifying income. The regime that keeps DMCC and ADGM structures competitive; substance and audited accounts are the price.Qualifying income of a QFZP. With substance and audit.
No personal income tax
Salaries, dividends and personal crypto gains bear no UAE income tax. The founders' side of the equation is unmatched among serious jurisdictions.Salaries, dividends and crypto gains untaxed.
No withholding taxes
The UAE levies no withholding on dividends, interest or royalties. Profits move to holding structures without leakage.Profits move to holdings without leakage.
VAT at 5%
The standard VAT rate is 5%; transfers and conversions of virtual assets are exempt (with retrospective effect to 2018), so token trades stay clean.VA transfers exempt, retrospective to 2018.
140+ tax treaties
One of the world's densest treaty networks. With real substance in Dubai or Abu Dhabi behind it, treaty access is genuine.Real substance makes access genuine.
Tax summary
Corporate tax9% over AED 375k
Qualifying free zone0%
Personal income taxNone
Withholding taxesNone
VAT on VA transfersExempt
Standard VAT5%
Tax treaties140+
*Figures as of 2026. Qualifying Free Zone Person status depends on substance, audited accounts and income mix. We model it before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: UAE entity, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed VASP.
Follow Prifinance
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UAE · VARA & ADGM
Launch your crypto project in the Emirates with expert support.
Full-service assistance - from company registration and substance to the licence and banking.
Get a consultation →Free legal opinion
Is the UAE the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which regulator, activity mix, or structure fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The UAE crypto licence - the questions we hear.
Which regulator do I need - VARA or ADGM?+
VARA covers all of Dubai outside the DIFC and licenses seven virtual-asset activities separately; ADGM's FSRA runs Abu Dhabi's common-law free zone and is the institutional benchmark. Retail-facing exchanges and brokers usually pick VARA; funds, desks and custodians serving institutions lean ADGM. We compare both in writing for your case.
What capital is required?+
At VARA the floors run by class: AED 300,000 for advisory, AED 500,000 for broker-dealer, AED 1,000,000 for lending or management, AED 2,000,000 for custody or an exchange. ADGM sets capital from your expenditure base plus activity floors.
How long does licensing take?+
VARA runs two stages - in-principle approval, then the operating permit - typically 3-9 months depending on the class mix. ADGM authorisations run 6-10 months. Substance readiness drives both.
What substance is expected?+
Real premises (no virtual offices), a CEO and executive director resident in the UAE, a pre-approved MLRO and compliance officer, and material local staff - typically five or more. The regulators interview the people who run the business.
Can I passport a UAE licence into the EU or elsewhere?+
No. There is no passporting even between emirates - a VARA permit covers Dubai, an FSRA permission covers ADGM. Groups serving both the EU and the Gulf usually pair a UAE licence with a MiCA CASP from our Czech or Lithuanian desks.
How are companies taxed?+
9% federal corporate tax above AED 375,000 of profit; a Qualifying Free Zone Person pays 0% on qualifying income. There are no withholding taxes, and VAT exempts virtual-asset transfers retrospectively to 2018.
And founders personally?+
The UAE levies no personal income tax - salaries, dividends and personal crypto gains are untaxed. Residence visas come with the substance build-out.
What AML obligations apply?+
Federal AML law plus the regulator rulebooks: KYC and monitoring, goAML reporting, the travel rule, and a pre-approved MLRO who actually sits in the Emirates.
What does the two-stage VARA process mean in practice?+
The in-principle approval confirms VARA will license you subject to conditions - capital injection, hires, systems. You spend the heavy money after the regulator has said yes in principle, which de-risks the build.
Why the UAE rather than the EU or Singapore?+
Different tools: the EU gives one passport for 27 markets; Singapore gives the MAS trust mark; the UAE gives a purpose-built regulator, Gulf market access and the best tax wrapper anywhere - 9%/0% corporate, 0% personal. Many groups end up holding two of the three.
VARA or ADGM?+
Retail-facing → VARA; institutional → ADGM. We compare in writing.
What capital?+
AED 300k advisory → AED 2M custody/exchange; ADGM is expenditure-based.
How long?+
VARA 3-9 months in two stages; ADGM 6-10 months.
What substance?+
Premises, resident execs, pre-approved MLRO, 5+ staff.
EU passport?+
No - pair with a MiCA CASP from our CZ/LT desks.
Company taxes?+
9% over AED 375k; 0% qualifying free zone; no withholdings.
Personal taxes?+
None on salaries, dividends or crypto gains.
AML rules?+
Federal AML + rulebooks: KYC, goAML, travel rule, resident MLRO.
Two-stage process?+
IPA first - heavy spend only after VARA says yes in principle.
UAE vs EU vs Singapore?+
Purpose-built regulator + best taxes; EU adds the passport.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
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Google
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Google
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Start today
One message away from your UAE licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which regulator and activity mix fit your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of VARA, the ADGM FSRA or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.