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FAQ

Questions firms ask before a call

Each answer that states a rule carries its label and the section it comes from. Rules as at 3 November 2026.

Licensing in the UAE

Which UAE regulator licenses my business?

It depends on where you operate and what you do. Financial services in or from the DIFC are licensed by the DFSA Rule DFSA GEN 2.2 and in or from ADGM by the FSRA. Rule FSRA FSMR Schedule 1 Virtual-asset activities in Dubai outside the DIFC are licensed by VARA. Rule VA Regulations 2023 Schedule 1 Onshore, the Central Bank of the UAE licenses banking, payments, stored value, credit, exchange houses and insurance Rule Decree-Law 6/2025 Art 61, and the UAE Capital Market Authority (UAE CMA) licenses securities, fund and advisory activities and, outside Dubai, virtual-asset activities. Rule UAE CMA Financial Activities Rulebook Section 2 Ch 2 Art 1; VASP General Module Art 2(1) The rules engine works out which applies to you; Clara, our AI assistant, gathers the facts.

Can a firm in the DIFC or ADGM serve clients on the UAE mainland?

Not freely. Federal law prevents financial free-zone firms from taking deposits from the State's markets and from dealing in dirhams. Rule Federal Law 8/2004 Art 4(1)(b) A fund domiciled in the DIFC or ADGM can be promoted across the UAE under the Fund Passporting Rules. Rule Fund Passporting Rules 2.1.2, 2.1.3, 6.3.2, 7.1.2 Promoting foreign fund units onshore needs a UAE CMA promotion licence and is limited to private offers to professional investors and counterparties. Rule UAE CMA Rulebook Section Three Ch 5 Art 6 First(3), Fourth(1), Fourth(8)

What is the minimum capital for a licence?

It is set by the regulator for each category. Some examples: a DFSA Category 4 firm needs USD 30,000 Rule DFSA PIB 3.6.2, an FSRA Category 4 firm USD 50,000 Rule FSRA PRU 3.3.2, a VARA advisory licence AED 100,000 Rule VARA Company Rulebook VI.B.1, a Central Bank Retail Payment Services Category III licence AED 500,000 below AED 10 million monthly average value Rule RPSCS Art 3(4), 6(1), and a UAE CMA Fifth Category licence AED 500,000. Rule UAE CMA Financial Activities Rulebook Section 2 Annex 1 The activity pages list the categories for each sector.

How long does a licence take?

We do not promise timelines. Where a regulator publishes one, we quote it. The UAE CMA gives initial approval within 20 business days and decides on the licence within 30 working days of a complete file. Rule UAE CMA Financial Activities Rulebook Section 2 Ch 3 Art 1(3); Ch 4 Art 1(3) The Central Bank decides on a card scheme licence within 90 calendar days of a complete file. Rule RPSCS Art 18(3) VARA publishes no decision period. Guidance VARA: Licence applications

Do I need people resident in the UAE?

Usually. A DFSA firm's Senior Executive Officer, Compliance Officer and MLRO must be resident in the UAE, with a waiver possible for the Compliance Officer and MLRO. Rule DFSA GEN 7.5.1, 7.5.1A, 7.5.2 The FSRA requires the same three roles to be resident. Rule FSRA GEN 5.5.1 to 5.5.3 A Central Bank payment service provider's chief executive must be ordinarily resident and its management based in the State. Rule RPSCS Art 1, 10(6)

What do regulators charge?

Each regulator publishes its own fees, and some publish none. A DFSA application to arrange or advise costs USD 15,000. Rule DFSA FER 2.1.1 A VARA application costs AED 100,000, or AED 40,000 for advisory or transfer and settlement services. Rule VARA Regulations Schedule 2 The Central Bank's payment services regulation sets no fee. Rule RPSCS, no fee provision

What does Candovio charge?

The scope and fee for an engagement follow the call, by regulator and licence category, and are set out in an engagement letter before any work starts.

Does the AI assistant decide which licence I need?

No. A rules engine applies the regulators' published rules to your answers. The AI assistant helps you describe your business and drafts for Candovio to check. A person reviews every provisional result before it is released to you.

Is the assessment legal advice?

No. It produces a provisional result from published rules applied to your answers. It is not the view of any regulator and does not promise approval or any outcome. Where a question is one of legal interpretation, we will tell you that you need a lawyer.

Where are my messages processed?

The assessment runs on servers in the UAE, where your transcripts are stored for 12 months. With your explicit consent, your messages about the business are sent to Claude, an AI model run by Anthropic in the United States. Your name and contact details are not sent, and we remove email addresses and phone numbers from your messages, so messages are pseudonymised, not anonymous. See the privacy notice.

How can I check whether a firm is licensed?

Each regulator publishes a register: the DFSA Public Register, the FSRA Public Register, VARA's public register, the Central Bank's list of licensed financial institutions and the UAE CMA's list of licensed companies. Guidance DFSA, ADGM, VARA, CBUAE and UAE CMA websites

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