SecureVisa Group

Step-by-Step Process to Set Up a VARA-Licensed Crypto Company in Dubai

1. Define Your Crypto Business Activity

The first step is to define your core service offering. VARA currently licenses the following crypto-related activities:

• Advisory Services
• Broker-Dealer Services
• Custody Services
• Exchange Services
• Lending & Borrowing Services
• Virtual Asset Management

➡️ Note: Choosing the correct activity is critical. SecureVisa can help structure your business model to fit VARA's framework.

2. Choose the Right Free Zone and Legal Structure

Your crypto company must be registered in a VARA-approved jurisdiction. The main approved free zones are:

• Dubai World Trade Centre (DWTC)
• Dubai Multi Commodities Centre (DMCC)

These are the only Free Zones currently authorized to host VARA-regulated businesses.

Legal structure options:

• FZE (Free Zone Establishment) – Single shareholder
• FZCO (Free Zone Company) – Multiple shareholders

➡️ SecureVisa will guide you through selecting the most appropriate Free Zone and corporate structure based on your business model and target markets.

3. Prepare the Required Documentation

Gather essential documents including:

• Detailed Business Plan specific to your virtual asset activity
• Passport copies of all shareholders and directors
• KYC documents
• Proof of Address
• Organizational chart
• AML/KYC policy drafts
• Technology and cybersecurity outlines

Our compliance team assists in drafting and aligning all documents with VARA’s expectations.

4. Submit the IDQ (Initial Disclosure Questionnaire) via SecureVisa

Unlike traditional licensing, the VARA process begins with the IDQ (Initial Disclosure Questionnaire) — not an Expression of Interest (EOI).

This step includes:

• Submission of company and stakeholder details
• Disclosure of financials, compliance frameworks, and intended services
• Background checks on founders and UBOs

✅ The IDQ is submitted directly to VARA through SecureVisa Group, not through the Free Zone.

We work closely with VARA to ensure all information is correctly presented and pre-vetted before submission.

5. Fit & Proper Assessment by VARA

VARA will evaluate the fitness and propriety of all shareholders, directors, and key personnel. This includes:

• Criminal and regulatory background checks
• Financial soundness
• Experience in virtual asset services
• AML/KYC competence
• Governance and IT security readiness

6. Obtain Preliminary Approval

Once IDQ and due diligence checks are completed, VARA may issue Preliminary Approval. This allows you to:

• Proceed with Free Zone company registration
• Secure office premises
• Begin preparations for operational readiness

Note: Some banks may allow initial onboarding at this stage, depending on the case.

7. Submit Final License Application

After incorporation:

• Finalize and submit full license application to VARA
• Submit detailed compliance documentation
• Pay relevant regulatory fees

SecureVisa will manage this process and liaise with VARA officers to ensure smooth handling.

8. Go-Live & Ongoing Compliance

Once approved, your crypto company can officially launch operations under VARA supervision. You'll need to:

• Implement full AML/CTF and cybersecurity frameworks
• Ensure transaction monitoring and reporting tools are in place
• Undergo periodic audits and regulatory filings

Why Choose SecureVisa Group?

Setting up a licensed crypto business in Dubai is not just about paperwork — it's about aligning your operations with one of the world's most advanced regulatory systems.

With 20+ years in corporate structuring, deep expertise in VARA licensing, and successful execution for clients in AI, FX, Web3, and Crypto, SecureVisa offers:

✅ Custom business structuring for VARA compliance
✅ Direct liaison with VARA and Free Zone authorities
✅ In-house legal and compliance advisory
✅ Full documentation and IDQ submission support
✅ Post-licensing compliance training

Final Thoughts

Dubai is rapidly becoming the jurisdiction of choice for serious crypto projects — but compliance is non-negotiable. If you want to build a fully licensed and scalable crypto business in Dubai, you need the right partner.

Book a consultation with SecureVisa Group today. Our team will evaluate your business and guide you through every stage of the VARA licensing journey.

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