VA Advisory License
License for providing expert advisory services on virtual asset investments, transactions, and strategies.
VARA Regulations 2023, VA Advisory Services Rulebook
Capital Required
AED 100,000 plus 1.2x monthly operational expenses
Timeline
4-8 months
Fees
AED 40,000 application + AED 80,000 annual supervision
Regulatory Body
Virtual Assets Regulatory Authority (VARA)
Legislative Framework
Dubai Law No. 4 of 2022, Virtual Assets and Related Activities Regulations 2023, VARA Rulebooks (13 total: 5 Compulsory, 8 Activity-Specific)
Last updated: August 2025
Key Requirements
Base capital of AED 100,000 minimum plus 1.2x monthly operational expenses for advisory delivery
Comprehensive advisory framework with documented investment advice process and suitability assessment procedures
Conflict-of-interest policies addressing fee arrangements, tied relationships, and principal trading restrictions
Chief Compliance Officer with investment advisory experience and VARA-approved competency certification
Professional indemnity insurance of AED 250,000-500,000 covering advisory errors and omissions liabilities
Clear advisory agreements specifying service scope, fee arrangements, and market risk disclaimers
Documentation systems recording all investment recommendations, client communications, and assessments
Annual continuing professional development requirements for all advisory staff with maintained certifications
Application Process
Submit VA Advisory license application with description of advisory services and client segments
Provide organizational structure with management CV for Chief Compliance Officer with advisory background
Include compliance manual with suitability assessment procedures, conflicts-of-interest policies, and documentation
Submit sample advisory agreements and fee schedules aligned with VARA transparency requirements
Provide insurance certificate and capital adequacy documentation
VARA review and approval following assessment of compliance framework and client protection mechanisms
Expected Total Timeline
4-8 months
Ongoing Obligations
After obtaining your VA Advisory License, these are the continuing compliance requirements you must maintain.
Quarterly compliance certifications confirming adherence to suitability standards and conflicts management
Annual capital adequacy reports and independent audit of financial statements by VARA-approved auditors
Annual fit-and-proper assessment for Chief Compliance Officer with mandatory VARA notification of changes
Annual review of professional indemnity insurance with renewal certificates provided to VARA
Quarterly reporting of material client complaints and disputes with written analysis of causes and actions
Maintain documentation systems for regulatory audits with access to client records and files on request
Cost Summary
Capital Requirement
AED 100,000 plus 1.2x monthly operational expenses
Application & Licensing Fees
AED 40,000 application + AED 80,000 annual supervision
Jurisdiction Setup Cost
$50,000-$100,000
Annual: $40,000-$120,000
Other UAE / Dubai Licenses
Explore other license types available in UAE / Dubai.
VA Exchange License
VA Broker-Dealer License
VA Custody License
VA Lending & Borrowing License
VA Management & Investment License
VA Issuance License
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