VARA MVL License Guide UAE - Complete 2026 Requirements

Overview

The VARA MVL (Minimum Viable License) is designed for crypto startups and solo entrepreneurs looking to establish a regulated presence in Dubai. This license provides a streamlined pathway for businesses offering virtual asset services.

Key Requirements

• Business plan outlining virtual asset activities
• Compliance framework and AML procedures
• Fit and proper test for key personnel
• Minimum capital requirements (varies by activity)
• Physical office or flexi-desk in Dubai

Application Process

The VARA MVL application process involves several stages including initial approval, documentation submission, and final licensing. The entire process typically takes 6-12 weeks.

Step 1: Initial Approval

Submit your business plan and activity description to VARA for preliminary review.

Step 2: Documentation

Prepare all required documents including compliance manuals, financial projections, and ownership structure.

Step 3: Final Approval

Upon successful review, receive your MVL license and commence regulated activities.

Costs and Fees

VARA MVL license fees range from AED 50,000 to AED 150,000 depending on the scope of activities and business structure.

Frequently Asked Questions

How long does the VARA MVL license take?

The typical processing time is 6-12 weeks from initial application to final approval.

What activities are covered under MVL?

MVL covers basic virtual asset services including advisory, custody, and exchange activities with limitations.

Is physical office required?

Yes, VARA requires a physical presence in Dubai, though flexi-desk options may be acceptable for certain activities.