Board requirements · VARA
VARA board requirements (virtual assets, Dubai)
What VARA expects of a company's board: how often it meets, who sits on it, what it must discuss, which committees and positions it needs. Rules last checked 1 July 2026, against the VARA Regulatory Framework (VA Reg 2023).
4
Board meetings a year (minimum)
1
Independent directors (minimum)
8
Mandatory agenda topics
Yes
Compliance officer required
Quorum and board composition
Quorum. Majority of board; at least one member with VA expertise required
Mandatory agenda topics (8)
Topics the board must cover, and how often. A topic covered earlier in its period does not need repeating until the next period.
| Topic | How often | Reference |
|---|---|---|
| Compliance Status Review | Each quarter | VARA VA Reg s.7.3 |
| AML/CFT Report | Each quarter | VARA VA Reg s.9.1 |
| Technology & Cybersecurity Risk | Each quarter | VARA TRS s.4 |
| Custody & Safeguarding Review | Each quarter | VARA CAS s.3 |
| Business Continuity Plan Review | Each half-year | VARA ORS s.5 |
| Financial Statements Review | Once a year | VARA VA Reg s.11 |
| Insider Trading & Market Conduct Abuse Prevention Review | Each half-year | VARA Market Conduct Rule 2 |
| Regulated Control Functions Performance Reaffirmation | Once a year | VARA Corporate Governance Guidelines |
Recommended topics (2)
Good practice under this rule set rather than a strict requirement.
| Topic | How often | Reference |
|---|---|---|
| Market Conduct & Surveillance | Each half-year | VARA MCS s.2 |
| Token Issuance / Product Approval | Every meeting | VARA VA Reg s.6 |
Board and key positions
Positions the rule set names. Mandatory positions must be filled, and for regulated firms usually approved by the regulator, before the role is taken up.
| Position | Required? | Reference |
|---|---|---|
| Board of Directors | Required | VARA Reg. 2023 |
| Chairman | Optional | VARA Reg. 2023 |
| Independent Director | Required | VARA Reg. 2023 |
| Chief Executive Officer | Required | VARA Reg. 2023 Art 16 |
| Chief Technology Officer | Required | VARA Reg. 2023 Art 16 |
| Chief Risk Officer | Required | VARA Reg. 2023 Art 16 |
| Compliance Officer | Required | VARA Reg. 2023 Art 16 |
| MLRO | Required | VARA AML/CFT Rules |
| Chief Information Security Officer | Required | VARA Tech Rules |
Check your own board against these rules
Govern applies this rule set to your meetings: which topics are still open this year, and whether your minutes cover them. Bring a transcript or notes and it writes the minutes, with every gap marked.
Try GovernA summary for orientation, not legal advice. References link to the rule or to Arakan Lexara, where the full text can be searched. Source: VARA Regulatory Framework. Other regulators: DFSA · ADGM · CBUAE · Mainland