For companies with virtual assets on the balance sheet
A company holding virtual assets: banking, books, audit and execution
The short answer
A company holding virtual assets keeps its bank, passes its audit and converts at a fair price on one file that answers four institutions at once: the bank, the auditor, the tax authority and a licensed desk. The file says where the assets came from, how they are held and controlled, how they are valued and recorded, what the flows are, and which desk converts them. We arrange the bank, the books, the audit file and the introduction to the desk, and hold that file; we never hold the assets.
Risk warning
Virtual assets are highly volatile and can lose all of their value. They are not suitable for every business or investor, and past performance is no guide to future performance.
Velarozone does not execute trades, does not custody virtual assets and does not hold client funds. Execution is by a VARA-licensed broker-dealer under its own terms and its own classification of you as a client; custody is by a licensed custodian or under your own arrangements.
A company that holds virtual assets is an ordinary company with an unusual asset, and the institutions around it react to the asset before the company. Banks apply enhanced due diligence to crypto-linked flows and some decline them outright; auditors ask how the holdings are controlled, valued and evidenced; the tax authority treats gains, losses and receipts under rules that have to be applied; and converting a meaningful amount to fiat through a retail exchange, rather than a licensed desk, moves the price and produces a settlement a bank may refuse.
The way through is a file that answers all of them at once: where the assets came from, how they are held and controlled, how they are valued and recorded, what the flows are and why, and which licensed counterparty converts them. A company that can show that file keeps its bank, passes its audit and executes at a fair price; one that cannot is asked the same questions by four institutions in turn.
At a glance
- Indicative cost
- The bank's, the auditor's and the desk's charges are theirs, and the desk's quote is the desk's; the VelaroZone service fee for the file and the introductions is itemised in your engagement letter.
- Timing
- The file built once, in weeks; the bank, the auditor and the desk each on their own clock.
- What's included
- A file that explains source, custody, control and valuation
- A bank whose appetite includes the holdings, or an international account beside it
- An audit file and an introduction to a licensed desk
This is for you if
- Your company holds virtual assets as treasury, receives them as revenue, or holds them for a founder or investor.
- Your bank has asked about crypto-linked flows, or has declined the account because of them.
- Your auditor or the tax authority needs the holdings recorded and evidenced properly.
- You need to convert a large amount to fiat, or fiat to virtual assets, through a licensed counterparty.
This may not be the right route if
- You want investment advice, a price view or a promise of a return; none is given.
- You want Velarozone to hold or move the assets; we never do.
- You are running a virtual-asset business that needs its own licence; that is the regulatory-consulting page.
At a glance
- Indicative cost
- The bank's, the auditor's and the desk's charges are theirs, and the desk's quote is the desk's; the VelaroZone service fee for the file and the introductions is itemised in your engagement letter.
- Timing
- The file built once, in weeks; the bank, the auditor and the desk each on their own clock.
- What's included
- A file that explains source, custody, control and valuation
- A bank whose appetite includes the holdings, or an international account beside it
- An audit file and an introduction to a licensed desk
What this service includes
- A bank file that explains the holdings and the flows, and an introduction to a bank whose appetite includes them; an international account beside the UAE one where needed.
- Bookkeeping that records virtual-asset holdings, receipts, gains and losses under the applicable standards and tax rules.
- An audit file: custody evidence, controls, valuation method and dates, prepared for a registered auditor.
- Introduction to a VARA-licensed broker-dealer for large conversions, with the desk's onboarding prepared from the same file.
- A holdings register and a control policy for the board.
What it does not include
- Custody, execution or movement of any virtual asset or fund.
- Investment advice, price views or any promise of a return.
- Statutory audit, signed by a registered auditor; legal opinions, from a licensed law firm.
Process
How the work is sequenced
Each stage has its own dependencies — activity approvals, document legalisation, authority processing, and bank review — and we report progress against them rather than against one overall date.
- 01
File
Source, custody, control, valuation and flows documented once.
- 02
Bank and books
The bank file presented; the accounting set up for the holdings.
- 03
Audit
The audit file prepared and the auditor supported.
Holding the position personally rather than through the company? That is its own page and its own file.
Prefer to start in writing? Send the details through the contact form.
Start with a structure assessment
In an initial consultation you receive a plain-language decision summary, a document-preparation list, and the next actions for your situation. Current figures are confirmed within your adviser-reviewed route comparison.
Four institutions, one file
What each institution asks of a company holding virtual assets
The same file answers all four; it is built once.
Questions a bank, an auditor, the tax authority and an execution desk ask of a virtual-asset holder.
The bank
- What it asks
- Where crypto-linked money comes from and goes; who converts it
- What the file shows
- Source of assets, custody, the licensed desk, the flows and their purpose
The auditor
- What it asks
- Existence, ownership, control and valuation of the holdings
- What the file shows
- Wallet and custody evidence, controls, valuation method and dates
The tax authority
- What it asks
- How receipts, gains and losses are treated
- What the file shows
- Records that apply the corporate tax and VAT rules to each transaction
The execution desk
- What it asks
- Who the client is and where the assets and fiat come from
- What the file shows
- The desk's own onboarding, prepared from the same file
The board
- What it asks
- What the company holds, what it is worth, who can move it
- What the file shows
- A holdings register and a control policy
| Institution | What it asks | What the file shows |
|---|---|---|
| The bank | Where crypto-linked money comes from and goes; who converts it | Source of assets, custody, the licensed desk, the flows and their purpose |
| The auditor | Existence, ownership, control and valuation of the holdings | Wallet and custody evidence, controls, valuation method and dates |
| The tax authority | How receipts, gains and losses are treated | Records that apply the corporate tax and VAT rules to each transaction |
| The execution desk | Who the client is and where the assets and fiat come from | The desk's own onboarding, prepared from the same file |
| The board | What the company holds, what it is worth, who can move it | A holdings register and a control policy |
The service
Crypto OTC execution through a licensed desk
The service page sets out how large conversions are routed to a VARA-licensed broker-dealer, and what we never do.
See the crypto OTC service
Every route is planned against how the business will actually operate in the UAE.
After the licence
What you may also need
The four services most founders in this situation ask about next, each on its own page.
Visas & PRO services
Residence visas for owners, staff and family, Emirates ID and medicals, and the PRO work that keeps a licence and its people in good standing. Eligibility and approval stay with the authority.
→UAE bank account setup
A bank-ready file and an introduction to the bank whose appetite matches your profile. Approval and timing stay with the bank.
→Accounting & bookkeeping
Monthly bookkeeping, VAT and corporate-tax filings, and year-end accounts, with statutory audit referred to a registered auditor.
→Legal services
Contracts, corporate documents, disputes and regulatory matters, advised by licensed law firms from our network.
→
Next decision
Related reading
Questions
Frequently asked
- Will a UAE bank keep an account with crypto-linked flows?
- Some will, on enhanced due diligence and with the flows explained; some will not, whatever the file. The bank-readiness work finds the ones whose appetite includes your profile, and an international account beside the UAE one is arranged where the business needs it meanwhile.
- How are the holdings recorded in the accounts?
- Under the accounting standards the company applies, which decide whether a holding is an intangible asset, inventory or something else, and how it is measured. The tax treatment follows the corporate tax and VAT rules on each transaction. The books apply both consistently.
- What does the auditor need to see?
- That the assets exist, that the company owns and controls them, and how they were valued at the balance-sheet date: wallet or custodian evidence, signing and access controls, and a documented valuation method. The audit file is built to show exactly that.
- Why not convert through an exchange?
- A large order on a retail exchange moves the price against you and settles in a way many banks question. A licensed broker-dealer quotes the size directly and settles fiat to an account in the company's name under a licence the bank and the auditor recognise.
- Does Velarozone ever touch the assets?
- No. We arrange the bank, the books, the audit file and the introduction to the desk; custody is yours or a licensed custodian's, and execution is the desk's.
Sources
- Virtual Assets Regulatory Authority (VARA)
- CBUAE — customer due diligence standards
- Federal Tax Authority — corporate tax
- Federal Tax Authority — VAT legislation and guides
Regulations, fees, and eligibility can change. Every regulatory statement is re-checked before publication and dated above.
Legal notes and scope
Velarozone provides setup and operational-readiness coordination. This page is general information, not legal, tax, immigration, or banking advice.
This page is general information about UAE business setup, not legal, tax, immigration, or banking advice. Rules, fees, permitted activities, and bank policies can change. Final eligibility depends on your facts and the applicable rules at the time of application.
UAE corporate tax, VAT, and free-zone treatment depend on your specific facts. Home-country obligations may also apply. We coordinate with your tax adviser and do not provide a tax opinion.
Virtual assets are highly volatile and can lose all of their value; they are not suitable for every business or investor. Velarozone does not provide virtual-asset services, custody, investment advice or execution. Execution is by a VARA-licensed broker-dealer under its own terms and client classification, and banks decide on their own criteria.