The type of business you intend to undertake will determine the business activities for which the Authorisation / permission is to be sought and the Category under which such activities falls. The capital requirement for Authorised firm range from US $10,000 to USD 10 million. Capital waivers may be available to the ADGM branch of a regulated financial institution having its head office in a recognized regulatory jurisdiction.
Firms wishing to undertake only marketing and referral activities without providing any other financial services may establish a Representative Office. Such firms will not have clients in the regulatory sense and will therefore benefit from a ‘light touch’ regulatory approach commensurate with this more limited scope of business.
Setting up an Authorised firm in ADGM, to carry out financial services activities in ADGM, involves seeking authorisation or obtaining financial services permission from FSRA – the Financial Services Regulatory Authority (FSRA). FSRA is an independent regulator in ADGM whose mandate is to establish a robust, well-regulated financial market that is aligned with international standards and best practices of global financial centres such as London, Hong Kong and Singapore.
Firms established in the ADGM will have 100% foreign ownership and is subject to a civil, commercial and regulatory environment aligned with entities established in the United Kingdom. Such firms must have a permanent place of business in the ADGM, are e regulated by the FSRA (referred as regulated entities). They include, but are not limited to, Banks, Brokers and Dealers, Asset Managers, Corporate Financiers, Wealth Managers, Insurers and Insurance Intermediaries, etc.
Initial meetings and detailed discussion with the FSRA’s case officers
Submission of General Information for Regulated Activities (GIRA) form and other supplementary forms, along with detailed Regulatory Business Plan and other documents
FSRA’s review of application followed by queries; providesatisfactory clarification / replies
FSRA’s interview with proposed senior management of the applicant firm
In-principal approval (with conditions, if any)
Fulfil the conditions and Formation registration of ADGM Company
Issue of Financial Service Authorization
KPI will be pleased to help you in your business setup in ADGM. From assessing your requirements right up to getting your business started we will be there for you; we will be there with you during the entire process. That means, we do all that takes to start your dream venture.
Business Activities: Which business activities you intend to carry out?
Over the years, we have provided guidance and helped many businesses by setting the right path