Are you interested in a crypto license in Dubai and want to know what the formalities are to obtain it? We invite you to read the following lines with useful information about this type of license, including the criteria and procedures involved. You can also collaborate from the very beginning with our specialists in company formation in Dubai if you want this cryptocurrency license in Dubai to be obtained without complexities in terms of documents.
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Conditions to get a crypto license in Dubai
Getting a crypto license in Dubai involves the following formalities:
- approvals come from the Dubai Financial Services Authority (DFSA) & Dubai International Financial Centre (DIFC), after a limited liability company is first registered;
- a business plan is required that includes details about: corporate governance framework, anti-money laundering policies, types of activities, etc;
- two “Responsible Individuals” are required to apply for a Dubai crypto license;
- identification documents of business owners and staff (key personnel) are also required;
- proof of a registered office space in Dubai is also required, as is a minimum share capital.
Once these documents are prepared, they will be submitted to the relevant authorities, namely DIFC and/or DFSA. In the first phase, authorities will arrange “fit and proper” interviews with company owners interested in obtaining a crypto currency license in Dubai. You can find out more about applying for a crypto license in Dubai from our experts. We can guide you in opening a company in Dubai and then get the desired license.
Types of cryptocurrency licenses in Dubai
There are various types of cryptocurrency licenses in Dubai, as follows:
- for advisory services through a crypto company in Dubai. Around AED 40,000 is the application fee;
- for dealing with the custody services of digital money. About AED 100,000 is the application cost;
- to provide broker-dealer services in the cryptocurrency sector in Dubai. Around AED 100,000 is the cost for such a license;
- the exchange license costs about AED 100,000 and can be requested for owners of crypto companies interested in offering such services.
We emphasize here that these are just a few of the cryptocurrency licenses available in Dubai. You can opt for the services offered by our agents for company incorporation in Dubai if you would like detailed information about this type of license. We can also advise you on due diligence when conducting regulatory review for your crypto company in Dubai.
Registering with the Virtual Asset Regulation Authority (VARA) in Dubai
Depending on the crypto license you want in Dubai, you will need to register your firm with the Virtual Asset Regulation Authority (VARA). We also recommend that, in this case, you seek assistance and specialized advice to meet all the conditions and avoid possible errors related to formalities and documents.
Regulations related to ICOs in Dubai
At the moment there is no legislation related to the issuance of initial coin offerings in Dubai, even if during the last 2 years the local government has enabled certain regulations related to the fintech sector. Even if cryptocurrency is recognized by the authorities and the sale of such digital tokens is not forbidden, the authorities have not created a legal framework through which initial coin offering can be controlled.
At the moment, the Central Bank in UAE and the Dubai Financial Services Authority (DFSA) only supervise transactions related to initial coin offerings, which are also known as initial token offerings or token sales.
Our company incorporation agents in Dubai can offer more information on the rules related to initial coin offerings.
Interested in opening a business in Dubai? Feel free to collaborate with one of our local specialists in terms of formalities and business registration. Our team can also provide you with support for registering to pay taxes or applying for a business license. At least 2 shareholders and one director are needed for a limited liability company, one of the most suitable structures available. Do not hesitate to contact us as soon as possible.
How can a Dubai initial coin offering be created?
The first step to having an ICO is to register a company in Dubai. However, there is a step that is skipped in this case and that is the licensing one. The issuance of any public offering is subject to licensing with the DFSA, but in the case of an initial coin offering, no license is required at this moment.
But there are some essential steps to creating ICOs in Dubai, and here we list:
- Website creation for ICOs in Dubai – specific software, graphics, and security programs will be implemented
- White paper – technical specifications and proficiency growth for ICOs in Dubai will be defined.
- Token development – Development of a blockchain platform, with specific functionalities for listing ICOs in Dubai.
- ICOs fundraising – It uses a specific platform, with advanced technology, and is accessible to customers.
Once the company is registered and the new digital currency is created, the Dubai ICO can be placed on the market for investors to buy it.
Documentation for ICOs in Dubai
Like many other countries, the UAE has no legal provisions or clear rules for issuers of ICOs in Dubai. But there are some formalities that we review here:
- Before the issuance of the ICO, trading with potential investors is done through a White Paper.
- The White Paper is the same as a prospectus of information in initial public offerings.
- Also, this document can be considered a marketing tool that provides information about the company issuing ICOs, the activities carried out, the structure of Tokens, the issuance rights as well as the conditions under which funds can be raised.
- The White Paper must be accessible to customers through the official website of the ICO issuing company in Dubai.
- The terms and conditions of the purchase of ICOs are presented and registered with the purchase of digital tokens and establish the rights of each party, the company, respectively the buyer.
- The purchase contract for ICOs must comply with the local law of the states in which they are traded.
Remember that you can talk to one of our company formation agents in Dubai and find out more about ICOs in Dubai. We are at your disposal if you want to open a company in the financial sector in the UAE.
Risk protection in ICO transactions in Dubai
The Securities and Commodities Authority is the institution that supervises and regulates the financial and commodities markets in the UAE. At the same time, this institution provides information and support to better understand what the risks are in trading with ICOs and how they can be avoided. Here are some ideas:
- Because certain ICOs are not regulated, they may be subject to certain financial risks, and more specifically fraud. SCA recommends that issuers take precautions for customers.
- ICOs issued abroad must comply with foreign legislation. But this can be a disadvantage because they cannot be tracked and verified. There are cases where funds cannot be recovered, especially if ICOs crash. And, in this case, it is suggested to implement an internal regulation to cover such cases.
- ICOs transactions on the secondary market can have volatile prices, and therefore insufficient liquidity. SCA warns against this and recommends ICO issuers in Dubai to draw up clear policies in order to provide the necessary protection and security to such transactions and implicitly to customers.
Some statistical data about cryptocurrency in the UAE
Here are some statistical data about the cryptocurrency sector in the UAE:
- around 25% is the cryptocurrency ownership rate in the UAE in 2025;
- it is estimated that around USD 254 million in cryptocurrency revenues will be achieved by the end of 2025;
- it is also expected that the number of cryptocurrency users in Dubai will reach and even exceed the threshold of 3.78 million by the end of 2025.
In addition to support in obtaining a Dubai crypto license, we can also help you with other steps. For example, we can represent you in immigration to Dubai and get the needed visas & residency permits. Contact us and request a free case evaluation.