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• Company documentation of parent company (Certificate of Incorporation, Certificate of Incumbency, Memorandum and Articles of Association, Board Resolution, etc.)
• Passport copies of owners and managers
• Board Resolution indicating it has been resolved to open a branch office in Meydan Free Zone Authority. Original required signed and stamped (contact us for a draft of the same).
• When a shareholder is a company entity, the Board Resolution should state the following as an example – “XYZ Company to take a 50% stake in new company ABC LLC to be formed in Meydan Free Zone Authority. Original required signed and stamped (contact us for a draft of the same).
• The Board Resolution should also include the appointed Manager(s)/Shareholder(s)/Director(s) of the branch or new LLC.

• Number of shares held by each of them along with their categories and associated voting rights.
• Date on which such partner or shareholder acquire that capacity in the Legal Person.
• In case of natural partners or shareholders: the full name as it appears on the identity card or the passport, nationality, address, place of birth, name and address of employer and a true copy of the valid passport or ID.
• In case of corporate partners or shareholders: the data stated in Clause (1) of Article (4) of Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures.

• Number of shares held by each of them along with their categories and associated voting rights.
• Date on which such partner or shareholder acquire that capacity in the Legal Person.
• In case of natural partners or shareholders: the full name as it appears on the identity card or the passport, nationality, address, place of birth, name and address of employer and a true copy of the valid passport or ID.
• In case of corporate partners or shareholders: the data stated in Clause (1) of Article (4) of Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures.

• Authorisation letter from the institution you represent
• A copy of your passport, resident VISA, Emirates ID
• A copy of the commercial trade license (for companies)

Download the “Google Authenticator” application on your phone. (This application contains the password for the SACM protection system, which is a password that changes every minute)

Real estate agents
Dealers in precious metals or precious stones
Dealers in any saleable item of a price equal to or greater than USD 15,000
Lawyers, notaries, other independent legal professionals and accountants. This refers to sole practitioners, partners or employed professionals within professional firms. It is not meant to refer to internal professionals that are employees of other types of businesses, nor to professionals working for government agencies, who may already be subject to AML/CFT measures
Trust and Company Service Providers. This refers to all persons or businesses that are not covered elsewhere under these Recommendations, and which as a business, provide any of the following services to third parties:
acting as a formation agent of legal persons
acting as (or arranging for another person to act as) a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal persons
providing a registered office, business address or accommodation, correspondence or administrative address for a company, a partnership or any other legal person or arrangement;
acting as (or arranging for another person to act as) a trustee of an express trust or performing the equivalent function for another form of legal arrangement
acting as (or arranging for another person to act as) a nominee shareholder for another person.

Identifying and assessing ML/FT risks
Establishing, documenting, and updating policies and procedures to mitigate the identified ML/FT risks
Maintaining adequate risk-based customer due-diligence (CDD) and ongoing monitoring procedures
Identifying and reporting suspicious transactions
Putting in place an adequate governance framework for AML/CFT, including appointing an AML/CFT Compliance Officer, and ensuring adequate staff screening and training
Maintaining adequate records
Complying with the directives of the Competent Authorities of the State in relation to the United Nations Security Council resolutions.

The VARA Virtual Assets and Related Activities Regulations 2023 is a bespoke Virtual Assets regulatory regime, which aims to provide VASPs with clear, comprehensive rules for offering Virtual Asset services and activities to the market.

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The VARA Virtual Assets and Related Activities Regulations 2023 with the accompanying Rulebooks has been published on www.vara.ae under the ‘Regulations’ section.

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VARA aims to foster consumer protection with a regulatory framework.

1. Various License categories are available based on the activity that the VASP intends to offer the market, noting that each activity is ‘discrete’ and hence must be applied for explicitly, based on the requirements for each as stipulated by VARA:

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• VA Advisory Services
• VA Broker-Dealer Services
• VA Custody Services
• VA Exchange Services
• VA Lending and Borrowing Services
• VA Management and Investment Services
• VA Transfer and Settlement Services

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2. Additionally, issuers of Virtual Assets will have to obtain approval from VARA under the VA Issuance Rulebook.

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3. Key Notes:

No VA activity is ‘exempt’ from regulatory supervision; as such any VA service or activity requires a VARA licence, registration or No Objection Certificate [NOC].

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1. VA Proprietary Trading is an activity that requires an No Objection Certificate from VARA [NoC].
2. VA Proprietary Trading above certain trading volumes, is an activity that must be registered with VARA to confirm that the activity may be undertaken with regulatory oversight without a VA Licence;

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You may apply for a VARA licence through Department of Economy and Tourism [Mainland], or any Free Zone except DIFC.

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There is a two-stage approval process.

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Stage 1 – Initial Approval – VASPs are required to fill an Initial Disclosure Questionnaire [IDQ] with DET or a FZA, which will be screened by the commercial licensing bodies, then transferred to VARA for assessment.

• Based on the assessment, VASPs may be rejected or additional information may be requested
• In case the VASP is given an initial approval, the VASP may carry on its readiness activities i.e. setting up office, client money account, bank account, hiring etc. at its own risk and in alignment with the commercial licensor in the Emirate of Dubai
• The VASP is then required to satisfy detailed licencing requirements as set out by VARA based on the VA activity the VASP proposes to carry out.

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Stage 2 – Upon completion of such requirements, the VASP can then apply for the full licence approval [which may include certain conditions and restrictions such as access to retail customers].

VASPs may be rejected if they are unable to fulfil VARA licensing requirements

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1. VASP’s can apply for a VA licence through DET for mainland, and preferred Free Zone in Dubai.
2. VARA’s approval is required to obtain a VA licence in the Emirate of Dubai for mainland and Free Zones, except [DIFC].

1. VARA requires physical presence of the entity to be in Dubai.
2. Companies need to ensure that their Senior Management team comprises suitably qualified individuals, and that the company appoints two ‘Responsible Individuals’ (RIs) that oversee compliance and who are based in the UAE.
3. Each Responsible Individual shall be a full-time employee of the VASP; a Fit and Proper Person; a resident of the UAE; and notified to, and approved by, VARA during the licensing process. Particular compliance roles that need to be appointed within the company include: a Chief Information Security Officer, and a Data Protection Officer, along with a Money Laundering Risk Officer; and a Compliance Officer. The Compliance Officer must be a fit and proper resident of the UAE. Note that the Compliance Officer cannot be the same person as the Chief Information Security Officer, and cannot sit on the Board, as the Compliance Officer and any head of the internal audit function should report directly to the Board.

1. VA licence is an annual licence.
2. The renewal is for 12 months.
3. You will be notified for the renewal 90 days in advance.
4. An Annual supervision Fees is required to be paid at the time of renewal.

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A comprehensive checklist of document requirements for successful submission of an FMP License Application is available for your reference, this checklist captures and defines requirements for documents such as, but not limited to:

• Regulatory Business Plan
• Customer journey
• Relationship / Accounts with local banks
• Financial projections & Group-level financial statements
• Governance framework
• Organizational Structure
• Conflicts of Interest policy
• Outsourcing policy & agreements
• AML/CFT policy and proceduresAnti- Bribery and Corruption (ABC) policy and procedures
• Compliance manual
• Enterprise Risk Management framework and methodology
• Terms and Conditions (also referred to as Terms of Service, Terms of Use etc.) on client agreements
• VA listing policy (where applicable)
• Business Continuity Management & IT Disaster Recovery Plan
• UAE public Keys and wallet addresses (Applicable for Exchange / Custodian / Wallet Providers Financial Services and Lending only)

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VARA requires physical presence to conduct VA activities from Dubai.

The below regulated VA activities require a private office to conduct business:

• VA Broker-Dealer Services
• VA Custody Services
• VA Exchange Services
• VA Lending and Borrowing Services

There is no size/ spacing requirement from VARA. Please check with your commercial licensor [DET/ FZ] on spacing requirements as per your staffing needs.

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Licence Application Fees are due following issuance of initial pre-operational licensing letter by VARA, while Licence Extension and Annual Supervision Fees will be due yearly.

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VASP’s are required to pay 50% upfront non-refundable VA licencing fees prior to submitting your full application [after receiving the Application Acknowledgment Fees [AAN]].

Fees are required to be paid directly to VARA either through bank transfer or online VARA portal.

The remaining licening fees + Annual Supervision Fees is required to be paid directly to VARA through bank transfer or online VARA portal.

Below are the details of the bank account.

Beneficiary A/C Name: VIRTUAL ASSETS REGULATORY AUTHORITY.
IBAN: AE380260001015818053501
Bank: Emirates NBD, Dubai, U.A.E.
Swift: EBILAEAD

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1. Enforcement actions will include Warnings, Fines and Penalties [e.g. licence suspensions, or scope of service or market limitations]. 2. VARA will supervise the virtual asset market in the Emirate via on-chain and off-chain methods to ensure compliance with our Regulations and Rulebooks. Failure to comply may result in substantial punitive measures which could include material fines and penalties [including potential entity closure]. 3. All relevant actions are coordinated with relevant government and commercial licensing bodies. More information about VARA’s fines and enforcement can be found at this link: [Download Guidelines]

Entities will be required to hold a VARA Licence or Acknowledgment of Application Notice [AAN] if they carry out any of the following VA activities, namely:

• VA Advisory Services
• VA Broker-Dealer Services
• VA Custody Services
• VA Exchange Services
• VA Lending and Borrowing Services
• VA Management and Investment Services
• VA Transfer and Settlement Services.

Entities that issue Virtual Assets must seek approval from VARA regarding the issuance of the Virtual Asset. Such entities should also determine if any of their activities relating to the Virtual Assets fall within the categories of VA Activities described above. Note: VA Proprietary Trading is an activity that requires a No Objection Letter [NoC] from VARA.

VA Proprietary Trading above certain trading volumes is an activity that must be registered with VARA to confirm that the activity may be undertaken without a VA Licence. Technology services utilising Distributed Ledger Technology [DLT] will have to determine if they are carrying out any Virtual Asset activity falling within the categories described above, and they may either be licensed or require registration with VARA.

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• Proprietary Traders, who trade their own funds and are not trading it as a service to friends-family and/or third-party mass market – i.e. no clients – are not required to hold a VARA Licence at this time
• Proprietary Traders by the aforementioned definition – with a cumulative monthly trading volumes above USD 250 Million – regardless of whether it is being undertaken as a business, are required to register with VARA, and will be subject to regulatory oversight
• As a proprietary trader, should your daily trading volume and fall below the threshold – you are required to declare this status and secure a suitable NOC from VARA to continue providing your services

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Distributed Ledger Technology [DLT] Service Providers may be required to hold a VARA Licence at this time if they are providing or carrying out any of the below mentioned VA activities:

• VA Advisory Services
• VA Broker-Dealer Services
• VA Custody Services
• VA Exchange Services
• VA Lending and Borrowing Services
• VA Management and Investment Services
• VA Transfer and Settlement Services.

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1. This is a broad sector and it is critical to understand exactly which services are being undertaken to respond more comprehensively;
2. At the first instance, entities offering Metaverse services are generally not required to hold a VARA licence at this time.
3. If any such entities are conducting VA activities regulated by VARA in and/or from Dubai a VARA FMP licence will be required

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1. Entities that already possess NFT Marketplace commercial licences with Free Zones must obtain the relevant licence from VARA.
2. NFT Marketplace providers should ensure they register with VARA for an Acknowledgment of Application Notice [AAN] before 30.April.2023.

You may apply for an activity amendment through Department of Economy and Tourism [Mainland], or any Free Zone except DIFC. There is a two-stage process.

• Stage 1 – Application Acknowledgment Notice [AAN] – VASPs are required to fill an Initial Disclosure Questionnaire [IDQ] with DET or a FZA, which will be screened by the commercial licensing bodies, then transferred to VARA for assessment.
  • Based on the assessment, VASPs may be rejected or additional information may be requested
  • Eligible VASP’s will receive an [AAN].
  • The VASP is then required to satisfy detailed licencing requirements as set out by VARA based on the VA activity the VASP proposes to carry out. •
• Stage 2 – Upon completion of such requirements, the VASP can then apply for the full licence approval [which may include certain conditions and restrictions such as access to retail customers]. VASPs may be rejected if they are unable to fulfil VARA licensing requirements.

Withdraw of Commercial licence [Legacy] requires DET/ Free Zone to notify VARA.

1. VARA will withdraw its AAN.
2. VARA will assess customer impact.
3. VASP is required to return funds/ marketing update/ monitor negative media / financial commitments.

VARA can withdraw the AAN for the below scenarios:

1. VASP cannot fulfil FMP requirements
2. VASP conducts illicit activity.
3. VASP doesn’t fall under VARA regime at this stage.

All event organisers are required to apply for events in Dubai through the e-Permit system of the Department of Economy and Tourism.

You may apply for a VA event through the e-Permit system, by selecting the category [VA event].

VARA reminds all concerned parties to confirm their adherence to the VA guidelines on the e-Permit system of the Dubai Government. 4. Failure to comply with VARA’s marketing regulations may result in substantial punitive measures including material fines/penalties and potential entity closure

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• For such advertising you are required to apply through the central government advertising system managed by Dubai Municipality.
• You must declare using the category [Virtual Asset Activity].
• You will be required to confirm your adherence to marketing regulations and guidelines [see below].
• https://rulebooks.vara.ae/sites/default/files/en_net_file_store/VARA_EN_419_VER1.pdf
• VARA reminds all concerned parties to confirm their adherence to the VA guidelines on the ePermit system of the Dubai Government.
• Failure to comply with VARA’s marketing regulations may result in substantial punitive measures including material fines/penalties and potential entity closure.

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means any of the following –

• arranging orders for the purchase and/or sale of Virtual Assets between two Entities;
• soliciting or accepting orders for Virtual Assets, and accepting currency, or other Virtual Assets for such orders;
• facilitating the matching of transactions in Virtual Assets between buyers and sellers;
• entering into Virtual Asset transactions as a dealer on behalf of the Entity for its own account;
• making a market in Virtual Assets using client assets; or
• providing placement, distribution or other issuance* related services to clients issuing Virtual Assets.

*As per Regulation II – Issuing Virtual Assets, any Entity in the Emirate that Issues a Virtual Asset in the course of a business, must comply with the VA Issuance Rulebook [latest version that is aligned with the issuance date]

means any of the following –

• conducting an exchange, trade or conversion between Virtual Assets and currency;
• conducting an exchange, trade or conversion between one or more Virtual Assets;
• matching orders between buyers and sellers, and conducting an exchange, trade or conversion between [i] Virtual Assets and currency or [ii] one or more Virtual Assets; or
• maintaining an order book in furtherance of items [a], [b] or [c] above.

means acting on behalf of an Entity as an agent, or fiduciary, or otherwise taking responsibility for the management, administration or disposition of that Entity’s Virtual Assets. Examples may include, but shall not be limited to –

• investment management services or otherwise managing VAs; and
• taking responsibility for the ‘staking’ of VAs for the purpose of earning fees or other values paid to validators and/or node operators of a ‘proof-of-stake’ DLT.

Fawri from Meydan Free Zone is the fastest business license option in Dubai, designed specifically for entrepreneurs who need to launch quickly in Dubai. The process is fully digital, and your Limited Liability Company (LLC) license is issued in just 60 minutes. It’s an efficient and reliable choice if you want a fast business setup in Dubai.

Yes, Fawri enables business setup without an office in Dubai. You can operate online or use flexi-desk or shared offices from day one and scale into a physical office at any time.

To apply for Dubai instant license, Fawri by Meydan Free Zone is the only choice. Fawri offers a seamless and fully digital process designed for entrepreneurs who want to start a fast business in Dubai. You begin by registering on the portal and entering your

business details. Then, choose from over 1,800 approved business activities that align with your goals. Once selected, upload the necessary documents and complete your payment securely online. Your application will be reviewed, and if it meets the criteria, Fawri will issue your business license within 60 minutes. On the same day, you can initiate your visa and bank account applications, making Fawri a fast business setup in Dubai

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The instant license eligibility criteria are simple and founder friendly. A single individual may act as the sole shareholder, manager, director, and UBO. This structure is ideal for entrepreneurs looking for a fast, independent, and fully compliant business setup.

Fawri, by Meydan Free Zone, is offered as an instant LLC license Dubai. It provides limited liability protection and allows one individual to take on all roles—shareholder, manager, director, and UBO. It is ideal for solo founders seeking a compliant and efficient LLC structure in Dubai.

Fawri is specifically designed to facilitate fast business setup in Dubai. The license is issued within 60 minutes, and the process includes same-day access to visa and bank account applications. Entrepreneurs also benefit from a free amendment in the first year, ensuring agility as the business grows.

Yes, Fawri from Meydan Free Zone allows for instant company registration Dubai, offering a streamlined and fully online process. Startups benefit from a 60-minute license issuance backed by a money-back guarantee if delayed, making it a dependable choice for quick and compliant business setup.

The instant license Dubai cost under Fawri starts at AED 15,000. This includes your business license, certificate of formation, share register, memorandum and articles of association, and facility lease agreement. You also get one free amendment in the first year with Fawri. It’s a transparent, value-driven pricing model that allows you to apply for a Dubai instant license.

Absolutely. Fawri is the most reliable way to secure an instant LLC license in Dubai, especially for solo founders. It allows one individual to act as the shareholder, manager, director, and UBO, providing complete operational control while maintaining full compliance with UAE regulations. The license is digitally issued in under an hour, with all essential legal documents included.

The instant license Dubai activities list of Fawri includes over 1,800 options, from e-commerce and fintech to consulting, trading, and education, offering one of the most flexible scopes under any instant trade license in the region. Fawri also allows you to combine business activities across completely different industries or sectors, such as consultancy, education, marketing, e-commerce, and trading, under a single license. You can explore the full list of Fawri-approved business activities here.

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(https://creatorapp.zohopublic.com/meydanfreezone/activity-list/page-perma/FAWRI/0gVe8ktSvJFp8YDkPTtbnO5a5qdH9Kp26G8NVWb28fWtM09EzQZ5r1UTvO25NeYUKUT3k96V23OzmEyjB4b95kUVnDwzjkfC7xYM )

Yes. Fawri allows you to combine business activities across completely different industries or sectors, such as consultancy, education, marketing, e-commerce, and trading, under a single license. You can add up to three activity groups in one license. For example, if you choose Group 141 (manufacturing), Group 451 (automotive trading), and Group 552 (F&B Rentals), you can add multiple activities within each group at no extra cost. If you wish to include an activity that doesn't belong to your selected three groups, you still can, but it comes at an additional cost of AED 1,000 per extra activity, not per group.

Yes, you can combine multiple business activities across completely different industries or sectors, like trading, e-commerce, professional services, logistics, education, and fintech under your Fawri license. Fawri’s activity list is structured into groups, where each group shares a three-digit prefix and represents a specific sector. You are allowed to choose up to three such activity groups, and within each group, you may include as many related activities as you wish without incurring additional costs. A person can choose up to three related industries or completely different industries under one license. An example could be combining three industries: education, marketing, and trading, under one license. And, under each industry you can select multiple business activities. This expands your entrepreneurial capabilities, allows you to enter and capitalise on diverse industries, and is suitable for company expansion and scaling.

For example, you can select Group 141 (manufacturing), which includes activities of manufacturing of wearing apparel, except fur apparel, Group 451 (trading) for automotive services, and Group 552 (F&B Rentals) for hospitality. Once you've chosen three groups like this, you can include different activities within each without extra charge. If you'd like to add something from a different group

outside of your chosen three, you still have the option to do that. You'll just need to pay AED 1,000 for each additional activity you include. So, suppose you already have Groups 141, 451, and 552, and you also want to include an activity from Group 951 related to Services. In that case, you can simply add it by paying the additional fee.

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Although this flexibility exists, it's important to be cautious. Some activities may fall under higher regulatory scrutiny and require third-party approvals, which could delay your license issuance. For example, certain manufacturing activities under Group 141 might need clearance from Dubai Municipality. Additionally, there are restrictions on how some activities can be combined. General Trading is classified as high-risk and pairing it with multiple unrelated activities may cause complications when opening a corporate bank account. Similarly, certain licenses cannot be combined with other activities, as mandated by the Dubai Land Department (DLD) and Real Estate Regulatory Agency (RERA), etc.

Yes. Once your Dubai instant license is issued, you can immediately begin your visa application process. Fawri simplifies this with same-day access to visa services, ideal for quick business setup and relocation.

Fawri simplifies the process of instant company registration in Dubai by offering a fully digital and time-efficient experience. Entrepreneurs can complete every step online, from submitting documents to selecting business activities and making payments. Once approved, Fawri issues an instant trade license in just 60 minutes, making it one of the fastest ways to secure an instant business license in Dubai.

Fawri is the only Dubai free zone instant license provider with a time-bound guarantee. If the process exceeds 60 minutes, you may be eligible for a partial refund, and a full refund if the license isn’t issued at all, keeping your Dubai instant license expenses clear and risk-free.

Before the license is issued, the Fawri process is designed to be fast, digital, and compliant, with the business license issued within 60 minutes. At this stage, only single-shareholder LLCs are permitted, and the same individual must take on the roles of Shareholder, Manager, Director, and UBO. Applicants must choose from a predefined list of eligible nationalities and select business activities from Fawri's approved list of 1,800 activities. These conditions are part of the Fawri-specific terms and are subject to compliance checks before approval. Additionally, the applicant must either hold an Emirates ID or have someone with an Emirates ID apply on their behalf.

Once the license is approved, the company may immediately proceed with the next steps, such as applying for the establishment card and investor visa and opening a corporate bank account. These steps can all begin on the same day that the license is granted, although processing times will vary by service.

After license issuance, you're allowed one free amendment within the first year, during which you can change the business activity, add or replace shareholders, or adjust business activities. At this point, the limitations of the Fawri-specific terms no longer apply. Instead, the license transitions into a standard Meydan Free Zone license, and is bound by the regular license terms and conditions. For example, suppose you initially qualified as a sole shareholder based on your nationality but had a business partner whose nationality did not qualify under Fawri's initial terms. In that case, you can add them later, provided their nationality is approved under Meydan Free Zone's prevailing compliance framework, which is updated regularly.

During the amendment period or at the time of renewal, the license gains complete flexibility: additional shareholders can be added, nationalities previously restricted under Fawri can be considered, and activities from Meydan Free Zone's full list can be included, making it a long-term solution for business growth beyond the initial fast setup.