What is a digital assets license in the UAE?
A digital assets license is a business license that allows companies to engage in activities related to the development of digital assets. This includes everything tied to IT technologies in the online universe—such as Web3, blockchain, NFTs, DLT, and DeFi.
People sometimes think of it as a type of crypto license, but it applies specifically to activities that involve the technology and development side of digital assets rather than trading or custody of cryptocurrencies.
Where to get a digital assets license in the UAE
Important note: There is no single federal crypto license in the UAE. Each jurisdiction has its own rules and approval process.
If your activities include crypto exchange services, you can only operate under asset exchange licenses issued by financial regulatory bodies in specific jurisdictions:
- DIFC (Dubai International Financial Centre): Regulated by DFSA
- ADGM (Abu Dhabi Global Market): Regulated by FSRA
However, if you're focused on development, NFT platforms, metaverse projects, or other Web3 tech, you can consider free zones that cater to these sectors, like RAK DAO or DMCC.
For proprietary trading, or crypto trading with your own funds (not clients’ funds), licensing is also possible in RAK DAO and DMCC.
RAK DAO (Ras Al Khaimah Digital Assets Oasis)
- The UAE’s free zone focused solely on digital assets
- Supports DAOs, Web3, NFTs, gaming, and metaverse startups
- Offers light-touch regulation for early-stage projects
- No VASP framework yet. Ideal for:
- Blockchain R&D
- NFT art or gaming platforms
- Smart contract development
- Non-custodial wallets
DMCC Crypto Centre (Dubai Multi Commodities Centre)
- Offers business licenses for blockchain-based firms
- Home to partners like Binance and TDeFi
- No direct VARA oversight unless activity involves custody, exchange, or brokerage
- Ideal for:
- NFT marketplaces
- Web3 advisory firms
- Blockchain incubators
Cost and timeline for setting up a licensed digital asset company
Government fees, setup costs, and licensing duration
| Free zone | Typical setup cost | Timeline | Notes |
|---|---|---|---|
| RAK DAO | AED 30,000–40,000 | 1–2 weeks | Ideal for early-stage Web3, NFT, and metaverse startups |
| DMCC Crypto Centre | AED 50,000–60,000 | 2–4 weeks | Suitable for mature blockchain firms; structured setup |
Ongoing compliance
| Free zone | Compliance |
|---|---|
| RAK DAO | Minimal; best for non-custodial or early-stage Web3 |
| DMCC | Audit required; KYC/AML for crypto-facing firms |
- DMCC companies may fall under VARA rules if their activities are VASP-relevant.
- RAK DAO offers more flexibility and fewer compliance burdens for startups.
*Terms, requirements, and prices are subject to change. For the latest information and an accurate cost estimate for setting up your crypto-related company, please contact our business consultant.
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