In 2025, the UAE government offers extensive incentives for crypto business owners. For example, in Abu Dhabi, the Hub71 innovation hub launched a $2 billion fund to support Web3 startups. Meanwhile, Dubai established a dedicated regulatory authority — the Virtual Assets Regulatory Authority (VARA) — overseeing cryptocurrency activities.
Flexzo has prepared a step-by-step guide to help entrepreneurs set up a crypto business in the UAE:
- Define your business activity. Determine the focus of your crypto company — for example, cryptocurrency exchange, blockchain development, or crypto investments — and prepare a detailed business plan at this stage.
- Identify your counterparties. Decide whether you will provide services to third parties or operate solely with your own capital. It is essential to determine whether you qualify as a Virtual Asset Service Provider (VASP), as this will affect your registration location and the type of activities requiring VARA approval.
- Choose a jurisdiction. Select where to register your company. Many entrepreneurs choose Free Zones such as DMCC Crypto Centre, IFZA, or RAKEZ, which allow 100% foreign ownership and do not require additional VARA approval. If you plan to work with third-party assets, your options are limited to DMCC, DWTC, ADGM, or DIFC. We recommend focusing on DWTC from the start to avoid future redomiciliation or the need to establish a new legal entity.
- Register the company. Submit your incorporation documents and obtain preliminary approval for a crypto license from the chosen Free Zone. The application can be filed through the Free Zone administration or directly with the relevant regulator.
- Meet compliance requirements. Implement internal AML (Anti-Money Laundering) and KYC (Know Your Customer) policies. Hire the necessary personnel, lease an office, and begin operations in accordance with UAE law.
- Open a corporate bank account. Once preliminary licensing is obtained, open a corporate account with a local bank to conduct operations. (For crypto companies, this step can be more complex than for traditional businesses, but it can be successfully completed with proper preparation.)
- Apply to VARA. Submit your final application for regulatory approval along with the required documentation package.
To operate legally, a special license for virtual asset activities is required. You must apply to the relevant authority based on your company’s location:
- In Dubai — the Virtual Assets Regulatory Authority (VARA)
- In Abu Dhabi — the Financial Services Regulatory Authority (FSRA)
To obtain the appropriate license, you must:
If you have any questions regarding bank account opening, license acquisition, or other aspects of crypto company registration in the UAE, contact us for a personalized consultation with our experts.
*For a detailed list of approved crypto-related business activities in the UAE, follow the link.
*For a detailed overview of the documentation requirements for registering a crypto company in the UAE, follow the link.
- Submit an application;
- Provide a business plan and AML documentation;
- Undergo a due diligence and background check.
If you have any questions regarding bank account opening, license acquisition, or other aspects of crypto company registration in the UAE, contact us for a personalized consultation with our experts.
*For a detailed list of approved crypto-related business activities in the UAE, follow the link.
*For a detailed overview of the documentation requirements for registering a crypto company in the UAE, follow the link.
