Virtual Assets · Code 6499113
How to set up a Virtual Asset Issuance business in Dubai: the approvals, premises and ownership rules for activity code 6499113, and each step to the trade licence.
Last updated · Licensing authority: Department of Economy and Tourism (DET), Dubai. Fees change, so confirm the current amount with the authority before you pay.
ISIC classification: Other financial service activities, except insurance and pension funding activities, n.e.c. (6499)
Typically requires Designated Zone status for VAT purposes
About this activity
Structures and issues new virtual assets, coordinating whitepaper disclosure, smart-contract deployment, and distribution to investors.
Regulatory requirements
6499113 is a Dubai mainland (DET) activity code. We haven't yet confirmed its licence fee, or which other emirates issue it. An adviser can check both for you below, or Scout can recommend a route for your business.
Confirm the activity and legal form
Apply under activity code 6499113 (Virtual Asset Issuance). Choose the legal form, most often a limited liability company (LLC) or a sole establishment, and list any other activities you plan to add.
Reserve a trade name and get initial approval
Apply to the Dubai Department of Economy and Tourism (DET) to reserve the trade name and receive initial approval. Initial approval confirms the government has no objection to you starting the business.
Get the external approval
This activity needs approval from Virtual Assets Regulatory Authority (VARA) (Dubai) / Securities & Commodities Authority (SCA) (other Emirates) & Central Bank of the UAE (CBUAE) before the licence is issued. Apply once you have initial approval; the authority may inspect your premises or ask for qualifications.
Secure the right premises
The activity calls for licensed vara/sca-compliant office with cybersecurity & risk controls. Sign a lease and register it with Ejari; the registered tenancy is part of the licence file.
Sign the founding documents
Sign the Memorandum of Association (or the sole-owner equivalent) setting out the owners and their shares.
Pay the fees and collect the trade licence
Pay the licence and registration fees and DET issues the trade licence. The total depends on the activity, premises and number of activities.
After the licence
Get the establishment card, apply for residence visas, open a corporate bank account and register for Corporate Tax with the Federal Tax Authority. Register for VAT once taxable turnover passes AED 375,000 a year.
See the documents you'll need and what to do after you incorporate.
The approving authority's rules
Read what these authorities require of a virtual asset issuance business, chapter by chapter, in Lexara.
The duties every new UAE company meets, whatever its activity. Each links to a short explainer series with the law behind it.
Beneficial owner register
Within 60 days of the company existing, keep a register of its beneficial owners and of its partners or shareholders, and file them with the registrar.
Corporate tax
Register for corporate tax within three months of incorporation, and file each return within nine months of the end of the tax period.
VAT
Register for VAT once taxable supplies pass AED 375,000, then issue tax invoices and file returns for each tax period.
Staff
Hiring people brings the federal labour law: the contract and probation, hours, leave and wages, the employee file, and ending employment properly.
Records
Keep accounting records that show the company's financial position for at least five years after the end of each financial year; tax records have their own periods.
Keeping the licence
In Dubai, renew the licence in the last month before it expires, and tell the Department of Economy and Tourism within ten working days when the facts behind it change.
A free zone licence gives full foreign ownership and trades inside the zone and abroad; selling to mainland customers usually needs a distributor or a mainland licence.
Checked for Other financial service activities, except insurance and pension funding activities, n.e.c.
ADGM
Abu Dhabi
Packages from AED 5,505, year 1 · 2 visas per desk
DIFC
Dubai
Packages from AED 16,515, year 1 · 2 visas per desk
Free zones suited to virtual assets businesses. Each zone keeps its own activity list, so confirm Virtual Asset Issuance is on it before you apply, or ask an adviser below.
Reserve a trade name and get initial approval from DET under activity code 6499113, get approval from Virtual Assets Regulatory Authority (VARA) (Dubai) / Securities & Commodities Authority (SCA) (other Emirates) & Central Bank of the UAE (CBUAE), register premises with Ejari, sign the Memorandum of Association and pay the licence fee. DET then issues the trade licence.
Yes. Virtual Asset Issuance is open to 100% foreign ownership on a Dubai mainland licence, so you don't need a local partner.
Yes. Besides DET, the activity needs approval from Virtual Assets Regulatory Authority (VARA) (Dubai) / Securities & Commodities Authority (SCA) (other Emirates) & Central Bank of the UAE (CBUAE). This is usually the longest step, so start it as soon as you have initial approval.
The activity calls for licensed vara/sca-compliant office with cybersecurity & risk controls, registered with Ejari.
Possibly. Free zones suited to virtual assets businesses include ADGM, DIFC. Each free zone keeps its own activity list, so confirm Virtual Asset Issuance is on it first. A free zone licence trades inside the zone and abroad; selling to mainland customers usually needs a distributor or a mainland licence.
Leave your details and a licensing adviser will call you back: approvals, premises, costs and the fastest route for this activity. There's no charge to ask.