VA Activity | Paid-Up Capital Requirement |
Advisory Services | AED 100,000. |
Broker-Dealer Services | Broker-Dealer Services using a VASP Licensed by VARA to provide Custody Services or otherwise approved during the licensing process: the higher of (i) AED 400,000; or (ii) 15% of fixed annual overheads. |
In all other instances, the higher of (i) AED 600,000; or (ii) 25% of fixed annual overheads. |
Category 1 VA Issuance | As specified in the VA Issuance Rulebook, or any Annex thereto. |
Custody Services | The higher of (i) AED 600,000; or (ii) 25% of fixed annual overheads. |
Exchange Services | Exchange Services using a VASP Licensed by VARA to provide Custody Services or otherwise approved during the licensing process: the higher of (i) AED 800,000; or (ii) 15% of fixed annual overheads. |
In all other instances, the higher of (i) AED 1,500,000; or (ii) 25% of fixed annual overheads |
Lending and Borrowing Services | The higher of (i) AED 500,000; or (ii) 25% of fixed annual overheads. |
VA Management and Investment Services | VA Management and Investment Services using a VASP Licensed by VARA to provide Custody Services or otherwise approved during the licensing process: the higher of (i) AED 280,000; or (ii) 15% of fixed annual overheads. |
In all other instances, the higher of (i) AED 500,000; or (ii) 25% of fixed annual overheads. |
VA Transfer and Settlement Services | The higher of (i) AED 500,000; or (ii) 25% of fixed annual overheads. |