Country guide · Middle East

🇦🇪 Financial licensing in United Arab Emirates

Onshore CBUAE, Dubai VARA for virtual assets, and the DIFC (DFSA) and ADGM (FSRA) financial free zones.

The UAE has several parallel regulators. The Central Bank of the UAE regulates onshore banking and payments; VARA regulates virtual-asset activities in Dubai outside DIFC; the DFSA and FSRA supervise the DIFC and ADGM financial free zones respectively.

Regulators

ADGM Financial Services Regulatory Authority (FSRA)
Regulator of Abu Dhabi Global Market
Official website
Dubai Financial Services Authority (DFSA)
Regulator of the DIFC
Official website
Virtual Assets Regulatory Authority (VARA)
Virtual asset service providers in Dubai
Official website
Central Bank of the UAE (CBUAE)
Onshore banks, payment and stored value services
Official website

Licence and authorisation types

Virtual asset service provider (VASP)

Dubai VARA VASP licence

Regulator: Virtual Assets Regulatory Authority (VARA)
Permitted activities: Virtual asset activities (exchange, broker-dealer, custody, transfer, lending, management) in Dubai excluding DIFC.
Minimum capital: Set per activity by VARA rulebooks — Verification required.
Ownership, management & substance: Licensed entity in Dubai with local presence.
Application procedure: VARA licensing process after DET initial approval.
Government fees: Verification required
Indicative timeline: No reliable published estimate
Limitations: Does not cover DIFC (DFSA) or ADGM (FSRA).
Legal basis: Dubai Law No. 4 of 2022

Stored value / e-wallet licence

CBUAE stored value facility licence

Regulator: Central Bank of the UAE (CBUAE)
Permitted activities: Stored value facilities and retail payment services onshore.
Minimum capital: Verification required
Ownership, management & substance: UAE onshore presence.
Application procedure: Application to CBUAE.
Government fees: Verification required
Indicative timeline: No reliable published estimate
Limitations: —
Legal basis: CBUAE Stored Value Facilities Regulation