VARA Virtual Assets Service Provider
Cost
AED 100,000+ application + ongoing supervisory fees + capital
Timeline
9-15 months
Capital
AED 1M-10M+ depending on activity
VASP authorization regulated by Virtual Assets Regulatory Authority.
Who it suits
Crypto exchanges, custodians, and broker-dealers serving Dubai and broader MENA markets. Dedicated crypto regulator (separate from DFSA in DIFC).
Compliance load
VARA Rulebooks (granular per activity), AML aligned with FATF, governance and operational risk requirements.
The acquiring angle
VARA brand is gaining acquirer recognition. UAE-based acquirer routing common for regional volumes. Pricing comparable to EU MiCA.
Notes and pitfalls
VARA process is rigorous; UAE market is smaller than EU but growing. Operators serving primarily EU should also pursue MiCA.
Reference information, not legal advice. Figures are typical ranges as of 2026.
VARA questions.
How do acquirers view the VARA licence?
Acquirer acceptance is Moderate. VARA brand is gaining acquirer recognition. UAE-based acquirer routing common for regional volumes. Pricing comparable to EU MiCA.
What does the VARA cost and how long does it take?
Cost: AED 100,000+ application + ongoing supervisory fees + capital. Timeline: 9-15 months. Capital: AED 1M-10M+ depending on activity. These are typical ranges as of 2026; verify with the regulator before budgeting.
Does BZNpay help with VARA applications?
No. We are an introducer to acquirers, not a licensing agent. We can tell you how this licence plays with the acquirer pool and introduce you to the partners whose appetite covers it.