Apply for a Virtual Assets Broker-Dealer Services Business License in Dubai
Topic Summary
What the Broker-Dealer License Actually Covers
Activity Code 6619.83 authorises holders to act as intermediaries in buying, selling, and exchanging virtual assets on behalf of clients. This includes order execution, client account management, market-making, and related advisory services tied to cryptocurrencies and digital tokens.
Who This License Is Best Suited For
The license is designed for cryptocurrency exchanges, digital asset trading firms, blockchain fintech startups, and international institutions seeking a UAE presence. Both solo entrepreneurs and multinational corporations can apply through Dubai South Business Hub Free Zone.
Dubai's Regulatory Framework Builds Real Confidence
The Virtual Assets Regulatory Authority (VARA), established in 2022, provides dedicated oversight of licensing, compliance, and market conduct for virtual asset service providers. The UAE was also among the first countries globally to introduce a comprehensive virtual assets law.
Key Numbers Every Applicant Should Know
The UAE virtual assets market is projected to exceed USD 400 billion in transaction volume by 2030, reflecting enormous growth potential. Setup typically takes four to eight weeks, and foreign investors can retain up to 100% ownership of their licensed entity.
Dubai's Location and Tax Environment Are Major Advantages
Sitting between East and West, Dubai offers direct access to markets across the Middle East, Africa, and South Asia from a single regulated base. The zero personal income tax environment further strengthens its appeal for digital asset businesses and their talent.
Understand What the License Does Not Cover
The broker-dealer license is specifically scoped to virtual asset intermediary activities and does not extend to insurance, lending, or traditional securities brokerage. Operators needing those services must seek separate regulatory approvals before conducting them.
Dubai has firmly established itself as one of the world's most forward-thinking financial centres, and its approach to virtual assets is no exception. As digital currencies and blockchain-based instruments reshape global finance, demand for regulated, professional intermediary services has surged. For entrepreneurs and institutions looking to operate in this space, obtaining a Virtual Assets Broker-Dealer Services Business License at Dubai South Business Hub Free Zone offers a credible, well-regulated pathway into one of the fastest-growing sectors in the region.
This guide covers everything you need to know about Activity Code 6619.83, from what the license covers and who it suits, to setup costs, compliance requirements, and why Dubai is uniquely positioned to support this business activity.
What the Virtual Assets Broker-Dealer Services License Covers
The Virtual Assets Broker-Dealer Services license falls under the Financial category and carries Activity Code 6619.83. It authorises the holder to act as an intermediary in the buying, selling, and exchange of virtual assets on behalf of clients. This includes facilitating transactions in cryptocurrencies, digital tokens, and other blockchain-based financial instruments within a regulated framework.
Licensed entities may provide order execution services, maintain client accounts, offer market-making functions, and conduct related advisory activities tied directly to virtual asset transactions. The license does not extend to unrelated financial services such as insurance, lending, or traditional securities brokerage unless additional approvals are obtained.
Who This License Is Suited For
This license is particularly well-suited for the following types of operators:
Cryptocurrency exchange platforms seeking a regulated base in the UAE
Digital asset trading firms and proprietary trading desks
Blockchain-based fintech startups offering brokerage or intermediary services
International financial institutions looking to establish a UAE presence for virtual asset operations
Investment managers and fund operators dealing in digital assets
Whether you are a sole entrepreneur or a multinational firm, the Dubai South Business Hub Free Zone provides a structured environment that supports both early-stage ventures and established players.
Key Stats at a Glance
Infographic: Virtual Assets Broker-Dealer License in Dubai South
Activity Code: 6619.83
License Type: Business License
Category: Financial
Free Zone: Dubai South Business Hub
Foreign Ownership: Up to 100% permitted
UAE Virtual Assets Market Size: Projected to exceed USD 400 billion in transaction volume by 2030
Regulatory Body: Virtual Assets Regulatory Authority (VARA), Dubai
Typical Setup Timeline: 4 to 8 weeks
Why Dubai Is Well-Positioned for Virtual Asset Brokerage
Dubai has invested significantly in building a robust regulatory infrastructure for virtual assets. The establishment of the Virtual Assets Regulatory Authority (VARA) in 2022 marked a turning point, creating a dedicated body to oversee licensing, compliance, and market conduct for virtual asset service providers. This regulatory clarity gives businesses and their clients confidence that operations are conducted within a transparent and accountable framework.
Dubai's strategic location between East and West, its zero personal income tax environment, and its advanced financial infrastructure make it an attractive hub for digital asset businesses targeting markets across the Middle East, Africa, South Asia, and beyond. The UAE was also among the first jurisdictions globally to introduce a comprehensive virtual assets law, signalling long-term commitment to the sector.
Licensing and Compliance Requirements
To obtain a Virtual Assets Broker-Dealer Services Business License at Dubai South Business Hub Free Zone, applicants must meet the following requirements:
Submission of a completed license application to Dubai South authorities
Provision of a detailed business plan outlining the nature and scope of virtual asset activities
Proof of identity and background documentation for all shareholders and directors
Compliance with VARA regulations, including anti-money laundering (AML) and counter-financing of terrorism (CFT) policies
Appointment of a qualified compliance officer
Maintenance of adequate capital reserves as stipulated by VARA guidelines
Execution of a lease agreement for office space within the free zone
Ongoing compliance obligations include periodic audits, transaction monitoring, suspicious activity reporting, and renewal of the business license on an annual basis.
Setup Costs and Steps
The cost of establishing a virtual assets broker-dealer business at Dubai South Business Hub Free Zone varies depending on the size of the operation, office space requirements, and the number of visa allocations needed. Typical costs include the license fee, registration fee, office lease, and government processing charges. Businesses should also budget for VARA registration fees and legal or consultancy support during the application process.
The general steps to set up are as follows:
Choose your business activity and confirm eligibility under Activity Code 6619.83
Prepare and submit incorporation documents to Dubai South Business Hub Free Zone
Register with VARA and obtain the relevant virtual asset service provider authorisation
Secure office space within the free zone
Open a corporate bank account with a UAE-based financial institution
Apply for employee visas if required
Commence operations in compliance with all regulatory obligations
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