Virtual Asset Wallet Services License UAE

ISIC classification: Other activities auxiliary to financial service activities (6619)

Typically requires Designated Zone status for VAT purposes

About this activity

Issues and manages software or hardware wallets that let clients store, send, and receive virtual assets securely.

Regulatory requirements

Requires external approval — Virtual Assets Regulatory Authority (VARA) (Dubai) / Securities & Commodities Authority (SCA) (other Emirates)

100% foreign ownershipYes

Facility requirementLicensed Custody Facility with Cold/Hot Wallet Security Infrastructure

Market Analysis

Same custody-model question applies here as with Crypto Wallet Provider elsewhere in this dataset: non-custodial wallet software (the provider never holds user keys or funds) is standard tech licensing, while a custodial wallet service falls under VARA's Custody Services category at AED 100,000 application / AED 200,000 annual supervision.

Given how central this distinction is to determining the real cost of this activity, it's worth building a qualifying question into any user-facing flow built on this dataset — "does your wallet ever hold user private keys or funds?" — rather than presenting a single fee figure that could be off by two orders of magnitude depending on the answer.

100% foreign ownership applies regardless of custody model.

Available in: . A detailed per-emirate fee breakdown isn't published for this activity yet — check back soon, or get a scored recommendation for your specific business below.

Mainland or free zone for this activity?

Scout compares your total cost across both routes, not just the licence fee.

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