VARA Transfer & Settlement Services Licence
Moving virtual assets between parties or settling virtual asset transactions on behalf of others in Dubai requires VARA's VA Transfer and Settlement Services licence. Because these services move value across wallets and borders, Travel Rule compliance and sanctions controls are central. VAF Global builds the AML/CFT and Travel Rule framework for transfer providers.
Who needs this licence?
- Crypto remittance and cross-border transfer services
- Settlement providers for virtual asset transactions
- Crypto payment processors moving assets for merchants
- Platforms transferring assets between client accounts and external wallets
What transfer and settlement covers
Virtual asset transfers
Transferring virtual assets from one party or wallet to another on a client's behalf.
Settlement services
Settling virtual asset transactions between counterparties.
Payment tokens
Stablecoin payment activities may also fall under the Central Bank of the UAE's regime.
Cross-border flows
International transfers bring additional sanctions and counterparty VASP due diligence.
Key requirements
- A commercial licence from Dubai Economy and Tourism (DET) or a Dubai free zone authority
- Compliance with VARA's compulsory rulebooks: Company; Compliance & Risk Management; Technology & Information; Market Conduct
- Fit and proper shareholders, board and senior management, including a Compliance Officer and MLRO
- AML/CFT programme with KYC, transaction monitoring (KYT), sanctions screening, Travel Rule and goAML reporting
- Travel Rule solution for sending and receiving originator and beneficiary information
- Counterparty VASP due diligence
- Real-time sanctions screening and blockchain analytics (KYT)
- Transaction limits, monitoring scenarios and escalation procedures
The licensing process
- 1
Activity mapping
Confirm exactly which VARA activities your model needs. Many businesses need more than one.
- 2
Initial Disclosure Questionnaire
Submit VARA's IDQ through DET or your Dubai free zone, with the business plan and owner and management details.
- 3
Approval to Incorporate
VARA issues an Approval to Incorporate. Set up the company and operations; no virtual asset activity is allowed yet.
- 4
Full application
File the full licence application with policies, risk assessments, financials and key personnel.
- 5
VASP Licence
VARA issues the licence, which may carry operational conditions; supervision and annual renewal follow.
How VAF Global helps
We prepare and run the compliance side of your licence, so your application meets the regulator's expectations from day one.
- Activity mapping across VARA rulebooks
- AML/CFT, KYC, sanctions and Travel Rule policies
- Business-wide and customer risk assessments
- Compliance manuals aligned to the activity rulebook
- Outsourced MLRO (where VARA permits) and support for your in-house Compliance Officer
- KYT transaction monitoring with our KYT tool
VARA Transfer & Settlement Licence: FAQ
Does a crypto payment gateway need a VARA licence?
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If it transfers or settles virtual assets for others in or from Dubai, it typically does. Stablecoin payments may also involve the Central Bank of the UAE's Payment Token Services Regulation.
What is the Travel Rule?
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The Travel Rule requires VASPs to send and receive identifying information about the originator and beneficiary of virtual asset transfers, in line with FATF Recommendations 15 and 16. VARA applies it to transfers exceeding AED 3,500.
Can I combine this with other VARA activities?
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Yes. A VARA licence lists each authorised activity, and many firms hold several. Each additional activity brings its own rulebook requirements, so it is best to plan the full scope before applying.
Related insights
The Travel Rule in the UAE: A Practical Guide for VASPs
What the Travel Rule requires, how it applies to UAE virtual asset service providers and how to build a workable Travel Rule process.
Read articleKYT Explained: Crypto Transaction Monitoring for UAE Businesses
Know Your Transaction (KYT) explained: what it is, why UAE regulators expect it and how to screen wallets and transactions for risk.
Read articleOther UAE licensing guides
Last reviewed October 2026. This guide is general information for compliance planning, not legal advice. Regulatory requirements change; always confirm current rules with the regulator. VAF Global is a compliance consultancy and does not provide legal services.