VARA – Initial Disclosure Questionnaire (IDQ)

i. All companies planning to undertake Virtual Assets related activities in the Emirate of Dubai, are required to complete this Initial Disclosure Questionnaire ("IDQ") in its entirety and submit it to Dubai’s Virtual Assets Regulatory Authority (“VARA”).



ii. Prior to commencing this questionnaire, please ensure you have read through and familiarised yourself with the relevant regulations, guidelines and Rulebooks: for your convenience they are accessible at https://rulebooks.vara.ae/



iii. Please also refer to and review in detail the definitions of all VARA regulated VA Activities. For your convenience, they are accessible at https://rulebooks.vara.ae/rulebook/schedule-1-va-activities



iv. Please also refer to and review in detail, the supervision and authorization fees associated with each VARA regulated VA Activity: for your convenience they are located at: https://rulebooks.vara.ae/rulebook/schedule-2-supervision-and-authorisation-fees



v. Please note that only submissions (including supporting documents and attachments) in English will be the only accepted language at this stage.



لن تُقبل إلا اللغة الإنجليزية في هذه المرحلة



vi. Capitalised terms used but not defined herein shall have the same meaning ascribed to them in the relevant rulebooks published by VARA.



vii. Please note that partial or incomplete submissions, including submission of non-relevant documents and information may lead to your application being rejected.



viii. For document submissions exceeding the filze size limit (for the questions that require document submissions), please kindly upload a dummy document stating the document will be provided to VARA directly and proceed with the IDQ submission. Once the IDQ is submitted please send a single email to licensing@vara.ae, containing all the relevant attachments and supporting documents (as per the IDQ), please ensure to clearly reference that this is following your recent IDQ submission. Please ensure to include the same name in your email subject line as the company name that you have made the IDQ submission under (so that we can identify your application submission). Please note that we will not be accepting any document submissions via email if there isn't an IDQ submission that has been completed and submitted accordingly.


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