How to Get a Virtual Assets Advisory Services Business License in Dubai

Dubai has positioned itself as one of the world's most progressive jurisdictions for digital finance, and the demand for professional guidance in the virtual assets space has never been stronger. Whether you are advising clients on cryptocurrency portfolios, token structures, or blockchain-based investment strategies, obtaining a Virtual Assets Advisory Services business license in Dubai gives your firm the legal foundation to operate with credibility and compliance.

This guide covers everything you need to know about activity code 6619.82, issued as a Business License under the Financial category at Dubai South Business Hub Free Zone, including setup costs, key steps, regulatory requirements, and why Dubai remains the top destination for virtual asset professionals.

Why Dubai for Virtual Assets Advisory?

The UAE has developed one of the most comprehensive regulatory frameworks for virtual assets in the world. The Virtual Assets Regulatory Authority (VARA), established in 2022, governs virtual asset service providers across Dubai, while federal oversight from the Securities and Commodities Authority (SCA) adds an additional layer of structured governance.

Dubai's strategic location between East and West, its zero personal income tax environment, and its rapidly growing base of high-net-worth individuals and institutional investors make it an ideal hub for virtual assets advisory businesses. The emirate processed significant volumes of digital asset transactions in recent years, and demand for qualified advisory services continues to rise as retail and institutional adoption accelerates.

What the Virtual Assets Advisory Services License Covers

Under activity code 6619.82, a Virtual Assets Advisory Services business license permits the holder to provide professional advisory and consultancy services related to virtual assets. This includes:

• Advising individuals and organisations on virtual asset investment strategies

• Providing guidance on cryptocurrency portfolio management and risk assessment

• Consulting on token issuance, blockchain project structuring, and digital asset compliance

• Offering market analysis and research services related to virtual assets

• Supporting clients with regulatory navigation in the virtual assets sector

It is important to note that this license covers advisory and consultancy activities. It does not authorise the holder to directly trade, exchange, or custody virtual assets on behalf of clients, which would require separate regulatory approvals.

Who Is This License Best Suited For?

This license is an excellent fit for a wide range of professionals and businesses, including:

• Independent financial consultants specialising in digital assets

• Blockchain consultancy firms advising on tokenisation and Web3 strategies

• Family offices seeking to formalise their virtual asset advisory operations

• International advisory firms looking to establish a UAE presence

• Fintech entrepreneurs building advisory-led business models in the digital finance space

Key Stats at a Glance

Virtual Assets Advisory Services License: Key Facts

• Activity Code: 6619.82

• License Type: Business License

• Category: Financial

• Free Zone: Dubai South Business Hub

• Foreign Ownership: Up to 100% permitted

• Minimum Office Requirement: Flexi-desk or virtual office options available

• Typical Setup Timeline: 2 to 4 weeks

• Regulatory Body: Dubai South Free Zone Authority, with VARA oversight for regulated activities

Steps to Obtain Your License

1. Choose Your Business Structure

Determine whether you will set up as a sole establishment, a free zone limited liability company (FZ-LLC), or a branch of an existing company. Most advisory businesses opt for an FZ-LLC due to the liability protection and flexibility it offers.

2. Reserve Your Trade Name

Submit your preferred trade name to Dubai South for approval. The name must comply with UAE naming conventions and must not conflict with existing registered entities.

3. Submit Your Application

Prepare and submit your license application along with the required documentation, which typically includes passport copies of shareholders and directors, a business plan, and proof of address.

4. Obtain Initial Approvals

Dubai South Free Zone Authority will review your application. For virtual assets advisory activities, you may also need to engage with VARA depending on the scope of services you intend to offer.

5. Select Your Office Space

Dubai South offers flexible workspace solutions including flexi-desks and co-working spaces, which are suitable for advisory businesses in their early stages.

6. Pay Fees and Receive Your License

Once approvals are granted and fees are settled, your business license will be issued. You can then proceed to open a corporate bank account and begin operations.

Setup Costs and Ongoing Fees

License fees at Dubai South Business Hub vary depending on your chosen business structure, office type, and visa requirements. As a general guide:

These figures are indicative and subject to change. It is advisable to request a formal quotation directly from Dubai South or through a registered business setup consultant.

Compliance and Regulatory Considerations

Operating a virtual assets advisory business in Dubai requires adherence to several compliance obligations:

• Annual license renewal with Dubai South Free Zone Authority

• Compliance with UAE Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regulations

• Registration with the UAE Financial Intelligence Unit (FIU) via the goAML platform if your services fall within designated non-financial businesses and professions

• Maintaining accurate financial records and submitting to any required audits

• Staying updated with VARA guidelines as the regulatory landscape continues to evolve

Related Activities

• Virtual Assets Broker-Dealer Services Business License

• Virtual Assets Custody Services Business

• Virtual Assets Exchange Services Business License