Service overview
Broker-dealer VASP activity involves buying, selling or dealing in virtual assets in the applicable regulated capacity.
PVARA differentiates the initial NOC, incorporation in Pakistan, and final licensing for one or more authorised services. An NOC is not an operating licence, and each chosen licence class has its own safeguarding, capital, competence and activity rules.
Who is eligible for Virtual Asset Broker-Dealer Services Licence?
Review eligible company form, ownership, capital, management fitness, market conduct and safeguarding requirements. For a licence in this category, Schedule I to the Pakistan Virtual Asset Services Regulations, 2026 prescribes minimum paid-up capital of PKR 75,000,000. Under the published framework the VASP applicant company must have at least three directors, with applicable independent-director and fit-and-proper controls.
An operator acting as principal or intermediary must meet the separate Broker-Dealer Services capital and licence criteria. An exchange service licence or general brokerage credential is not an automatic substitute.
For VASP licences, paid-up capital, eligible company form, director qualifications and actual regulated activity must be tested separately for the chosen licence class. A PVARA NOC does not grant permission to operate.
Documents and information for Virtual Asset Broker-Dealer Services Licence
Prepare the following information for virtual asset broker-dealer services licence. The relevant regulator may require further forms or certified evidence, depending on the applicant and chosen procedure.
- Order execution model
- Ownership and financials
- Market risk controls
- Client onboarding and AML systems
- Cybersecurity and custody contracts.
- Evidence of subscribed and paid-up capital, with supporting attestation for the applicable PVARA licensing category
How can I obtain Virtual Asset Broker-Dealer Services Licence in Pakistan?
- 01Identify broker-dealer transactions and custody links
Distinguish dealing as principal/agent from exchange operation or passive advisory activities.
- 02Prepare broker-dealer applicant and preliminary NOC
Evidence owners, qualified executives, prescribed class capital, execution model and AML/CFT systems.
- 03Apply for PVARA Broker-Dealer Services licence
Submit class-specific dealing controls, order handling, client money/assets safeguards and policies following NOC/incorporation.
- 04Begin dealing only after licence
Maintain pricing, execution, reconciliation and customer protections.
Regulator resource: PVARA published 2026 licensing tracks
After registration or approval
Maintain transaction records, client asset controls, disclosures and prudential obligations.
Governing law & official references
Virtual Assets Act, 2026; Pakistan Virtual Asset Services Regulations, 2026; and Pakistan Virtual Asset Services Activity Specific Regulations, 2026.
The links below lead to government or official regulatory sources relevant to this service. Use the currently consolidated Act, regulations, statutory checklist and official portal when making an application.
How Chambers can assist
Chambers can review the legal route, identify regulatory constraints, prepare or review the supporting corporate and legal documents, manage the prescribed submission and correspond with the competent authority where instructed. The scope of the engagement will be determined by the applicant’s particular circumstances.
For an initial enquiry, identify the proposed activity, applicant entity and current stage, and provide the available documents indicated above. Please avoid sending confidential or identity-sensitive records through an unencrypted first contact.
Common questions about Virtual Asset Broker-Dealer Services Licence
Who is eligible for Virtual Asset Broker-Dealer Services Licence in Pakistan?
Review eligible company form, ownership, capital, management fitness, market conduct and safeguarding requirements. For a licence in this category, Schedule I to the Pakistan Virtual Asset Services Regulations, 2026 prescribes minimum paid-up capital of PKR 75,000,000. Under the published framework the VASP applicant company must have at least three directors, with applicable independent-director and fit-and-proper controls.
What documents are needed for Virtual Asset Broker-Dealer Services Licence?
Order execution model; Ownership and financials; Market risk controls; Client onboarding and AML systems. Additional requirements can apply to the actual business or regulator.
How can I obtain Virtual Asset Broker-Dealer Services Licence in Pakistan?
Identify broker-dealer transactions and custody links: Distinguish dealing as principal/agent from exchange operation or passive advisory activities. Prepare broker-dealer applicant and preliminary NOC: Evidence owners, qualified executives, prescribed class capital, execution model and AML/CFT systems. Apply for PVARA Broker-Dealer Services licence: Submit class-specific dealing controls, order handling, client money/assets safeguards and policies following NOC/incorporation. Begin dealing only after licence: Maintain pricing, execution, reconciliation and customer protections.
This guide is general information, not advice on your facts. Check the applicable law, notifications, updated regulator checklists and jurisdiction before acting. The authority alone determines eligibility, acceptance and approval; no outcome or processing period is guaranteed.