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Proxima Eight FZE LLC
Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
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What Activity Are You Licensing?
VARA regulates 8 virtual asset activities. Each is discrete and must be applied for explicitly.
Note: Capital = higher of fixed AED floor or % of annual overheads. Multiple activities require capital for each.
Proprietary Trading - NOC, Not a Licence
If you trade virtual assets using your own funds with no clients:
If you trade virtual assets using your own funds with no clients:
- You need a VARA NOC (No Objection Certificate), not a full VASP licence
- 30-day rolling volume above USD 250 million → mandatory VARA registration
- 30-day rolling volume above AED 1 billion → higher registration tier
What's Included in Our VARA Licensing Service
- Licensing StrategyActivity classification, entity structure, regulatory perimeter mapping. Misclassification is one of the most expensive mistakes in crypto licensing.
- Entity SetupDubai entity incorporation (DET mainland or free zone). Physical private office required for most activities.
- ATI ApplicationApproval to Incorporate: business plan, UBO disclosure, management profiles, IDQ submission through commercial licensor.
- Full VASP ApplicationComplete documentation: AML/KYC framework, technology documentation, capital evidence, governance structure, regulatory narrative.
- AML/CTF FrameworkPolicies, internal controls, risk scoring model, transaction monitoring, KYT tool integration, goAML registration.
- Regulator EngagementAll VARA communication managed end-to-end: information requests, clarifications, interviews.
- Post-Licence ComplianceAnnual licence renewal (VARA licences are annual), supervisory reporting, policy updates, regulatory change tracking.
How the Process Works
1–2 weeks
1–2 weeks
Strategy Session
Activity classification, entity structure, NOC vs licence determination
2–4 weeks
2–4 weeks
Entity Incorporation
Dubai LLC or FZ CO. Private office lease required for most activities (Advisory may use flex desk)
4–8 weeks
(VARA review)
(VARA review)
4–8 weeks
(VARA review)
(VARA review)
ATI Application
Submitted through DET or free zone commercial licensor
8–16 weeks
(VARA review)
(VARA review)
8–16 weeks
(VARA review)
(VARA review)
VASP Application
Full documentation package submitted to VARA
Ongoing
Ongoing
Regulator Review & Approval
VARA assessment — meetings, interviews, information requests. We manage end-to-end
Licence Issued
Annual VARA licence. Renewal notification issued 90 days in advance
Note: Total typical timeline: 9-12 months from entity incorporation to licence issuance.
Entity Requirements
- Legal structure: LLC or FZ CO only. Sole proprietorships not accepted by VARA.
- Physical presence: private office in Dubai required for most activities (except Advisory, which may use flex desk - confirm with commercial licensor).
- 2 Responsible Individuals (RIs) required - full-time employees, UAE residents or UAE passport holders, Fit and Proper approved by VARA.
- No nationality restrictions on applicants or UBOs.
Frequently Asked Questions
No nationality restrictions apply. However, the applicant must be a UAE-incorporated legal entity (LLC or FZ CO) - not a foreign entity. The Dubai entity is the licensed vehicle; foreign group ownership is permitted subject to UBO disclosure and fit-and-proper requirements.
Yes for most activities. VARA requires a private office for Broker-Dealer, Custody, Exchange, Lending & Borrowing, Management & Investment, Transfer & Settlement, and Category 1 Issuance. VA Advisory Services may use a flex desk arrangement - confirm requirements with your commercial licensor.
Typically 9-12 months from entity incorporation to licence issuance.
VARA's jurisdiction covers Dubai mainland and all Dubai free zones excluding DIFC. DIFC-based entities are regulated by the DFSA. If you intend to serve clients across Dubai or the UAE from any structure, regulatory perimeter mapping is essential.
A No Objection Certificate from VARA is required for proprietary trading firms that trade their own funds with no clients. Above USD 250M monthly rolling volume, VARA registration is also required.
The LOP allows firms that were conducting VA activities before February 2023 to continue operations while transitioning to full VARA licensing under the Dubai Legacy Programme.
Yes. VARA licences are renewed annually. Renewal notification is issued 90 days in advance. An annual supervision fee applies.
Related
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Please note: We do not provide any personalized investment advice, token selection guidance, or transaction recommendations. AMLzone is a compliance consultancy and project management services provider, not a Virtual Asset Advisor.
Please note: We do not provide any personalized investment advice, token selection guidance, or transaction recommendations. AMLzone is a compliance consultancy and project management services provider, not a Virtual Asset Advisor.