Expert Guidance for VARA Authorization
At Solvus, we specialize in helping Virtual Asset Service Providers (VASPs) navigate the Virtual Assets Regulatory Authority (VARA) framework. With extensive experience supporting VARA-regulated businesses and leading VASPs globally, we provide comprehensive solutions for compliance, licensing, and operational readiness in Dubai’s burgeoning virtual assets ecosystem.
What is VARA?
The Virtual Assets Regulatory Authority (VARA) is the world’s first independent regulator exclusively for virtual assets. Established under Dubai’s Virtual Asset Regulatory Framework, VARA oversees:
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Licensing and regulation of Virtual Asset Service Providers (VASPs).
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Investor protection through robust compliance standards.
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Sustainable market growth by fostering responsible innovation.
VARA’s tailored rulebooks offer clarity and flexibility, enabling businesses to adapt while ensuring regulatory compliance.
Do You Need a VARA License?
Any firm conducting virtual asset activities in or from Dubai (excluding DIFC) must obtain a VARA license. VARA regulates eight distinct virtual asset activities:
1. Advisory services.
2. Broker-dealer services.
3. Custody services.
4. Exchange services.
5. Lending and borrowing services.
6. Management and investment services.
7. Transfer and settlement services.
8. Virtual asset issuance (e.g., stablecoins).
Businesses can aggregate multiple activities under a single license, provided they meet all regulatory requirements.
Why Dubai for Virtual Asset Businesses?
How Solvus Supports Your VARA Licensing Journey
Dubai has emerged as a global leader in the virtual assets sector, offering:
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Attractive tax incentives: Zero personal income tax and 100% foreign ownership.
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A progressive regulatory framework: Designed to ensure stability, security, and innovation.
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Strategic connectivity: Bridging Eastern and Western markets.
The Dubai World Trade Centre (DWTC) Free Zone serves as the central hub for virtual asset businesses, providing operational flexibility for start-ups, SMEs, and multinationals. Companies can operate as free zone entities or through dual licensing for access to mainland UAE.
Prominent global players, including Binance, OKX, and Crypto.com, have established their base in Dubai, highlighting its position as a leader in the virtual asset space.
End-to-End Licensing Support
We streamline your VARA licensing process, managing every aspect of the application:
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Regulatory Strategy: Identifying the optimal VARA license structure for your business.
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Documentation Preparation: Drafting business plans, compliance policies, and AML/KYC frameworks.
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VARA Engagement: Coordinating with VARA to address regulatory requirements and feedback.
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Operational Readiness: Establishing governance systems, risk frameworks, and infrastructure.
Post-Licensing Support
Once licensed, we provide ongoing support to ensure compliance and operational efficiency:
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Regular compliance reviews and risk assessments.
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Outsourced Compliance Officer and AML/KYC advisory services.
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Assistance with expanding activities or modifying licenses.
How Solvus Helps You Set Up in the DWTC Free Zone
At Solvus, we assist Virtual Asset Service Providers (VASPs) in establishing their businesses in the DWTC Free Zone, offering tailored support at every stage:
Choose Solvus for VARA Licensing
At Solvus, we combine regulatory expertise with a client-focused approach, ensuring compliance becomes a strategic advantage. Whether entering the Dubai market for the first time or scaling existing operations, Solvus is your trusted partner in navigating the complexities of VARA and the DWTC Free Zone.
Contact us today to unlock the full potential of your business under VARA’s framework. With Solvus, compliance is not just a requirement—it’s an opportunity for innovation and growth.