Objectives & Agenda : To know the background of Abu Dhabi Global Market (ADGM) and the kinds of business that can be set-up in ADGM. To understand the procedure for setting-up business in ADGM and the benefits of operating from ADGM. To analyse the restrictions placed on persons operating in ADGM. To know the rules governing ADGM and finally the webinar will cover the compliances that has to be done while carrying out operations in ADGM

1. Abu Dhabi Global Market: An
Overview
Dr. CA. Nabeel Ahmed B.Com, ACA, CMA, AICWA,AIA, MBA, Ph.D
DVS Advisors LLP
India-Singapore-London-Dubai-Malaysia-Africa
www.dvsca.com
Copyrights © 2019 DVS Advisors LLP

2. Presentation Schema
ADGM - Background
Legal Framework of
ADGM
Setting Up in ADGM
Financial Business >
Wealth and Asset
Management >
Funds and Fund
Management
Why Abu Dhabi is
Ideal for Funds and
Fund Management
Procedure to Set-up
Benefits of
Operating From
ADGM
Restrictions
Rules Governing
ADGM
Requirements

3. ADGM - Background
ADGM – Abu Dhabi Global Market
ADGM is an award-winning International Financial Centre (IFC) strategically located in the Capital of the United Arab
Emirates (UAE)
ADGM is an ideal hub for businesses operating across all sectors to access the substantial growth opportunities emanating
from Abu Dhabi, UAE and the wider Middle East, Africa and South Asia (MEASA) region
Established by UAE Federal Decree, ADGM’s jurisdiction extends across the entire 114 hectares of Al Maryah Island

4. Legal Framework
ADGM was established pursuant to Federal Legislation and Abu Dhabi Legislation including Abu Dhabi Law No. 4
of 2013, as a financial free zone, in the Emirate of Abu Dhabi, with its own civil and commercial laws
ADGM provides market participants with a world-class legal system and regulatory regime

5. Setting Up in ADGM
Setting up in ADGM
Non-Financial Business RetailFinancial Business
Wealth and Asset Management
Capital MarketsBanking Crypto Assets Activities
Securities
FinTech
SPV
Corporate
Professional
Services
Family Business
Entrepreneurship
and Innovation
Associations SPV

6. Financial Business
Wealth and Asset
Management
Capital
Markets
Banking
Corporate and
Transaction Banking
Private Banking and
Wealth Management
Investment Banking
Money Service
Banking
Digital Banking
Brokerage
Market
Infrastructure
Asset Servicing
Investment Management
Funds and Fund
Management
FinTech
FinTech
RegLab
Digital
Sandbox

7. Why Abu Dhabi is ideal for Funds and Fund
Management ?
Business
Friendly
The ease of doing business in Abu Dhabi and within ADGM is invaluable, with numerous digital platforms, an
environment that supports good business, and a concierge service for all Abu Dhabi government services
Cost Effective Abu Dhabi supports a low cost establishment which helps to protect margins and costs for Fund Managers
Strategically
Located
Conveniently positioned globally at the crossroads of major trading routes, Abu Dhabi is in close proximity,
mostly within a 3 hour flight, to the 2 large wealth markets in the wider Middle East and Indian Sub-Continent
Strong
Diversifying
Economy
Abu Dhabi is a regional hub with a strong public and private sector in an economy which is increasingly
diversifying across sectors, leading to greater, locally provided Fund Management services
Unparalleled
Infrastructure
Abu Dhabi has world class infrastructure with significant investments in green sustainable energy and an
extensive professional services infrastructure such as medical, consultancy, legal, architectural and housing
Safe and Stable
Ranked one the safest cities in the world, Abu Dhabi offers a modern family friendly lifestyle with many
housing options, best in class international schools, sporting facilities and a vibrant cultural scene

8. Procedure to Set Up
A Person who intends to carry on one or more Regulated Activities in or from the ADGM must apply to the
Regulator for a Financial Services Permission
Where the Person becomes aware of a material change in circumstances that is reasonably likely to be
relevant to such an application whilst it by the Regulator, then it must inform the Regulator in writing of such
mais under considerationterial change without delay
The Regulator will only consider an application for a Financial Services Permission from a Person who is
• A Body Corporate or
• A Partnership
• and who is not a Recognised Body
Exceptions:
• If the application is in respect of either Effecting Contracts of Insurance or Carrying Out Contracts of Insurance as
Principal or both of the Activities, then the applicant must be a Body Corporate
• If the application is in respect of the Regulated Activity of Accepting Deposits, the applicant must be a Body Corporate
or a Partnership

9. Contd.
In assessing an application for a Financial Services Permission, the Regulator may:
• Make any enquiries which it considers appropriate, including enquiries independent of the applicant
• Require the applicant to provide additional information
• Require the applicant to have information on how it intends to ensure compliance with a particular Rule
• Require any information provided by the applicant to be verified in any way that the Regulator specifies and
• Take into account any information which it considers relevant in determining whether the applicant will ensure
compliance with requirements imposed by the Regulator in the exercise of its functions
In assessing an application for a Financial Services Permission the Regulator may, by means of written notice, indicate the
legal form that the applicant may adopt to enable authorisation to be granted
Where the Regulator thinks it appropriate it may treat an application made by one legal form or Person as having been
made by the new legal form or Person

10. Benefits of Operating From ADGM
100% foreign ownership
Ease of setting up businesses
0% personal and corporate tax
Unlimited repatriation of capital
No restrictions on employment
State-of-the-art infrastructure and Grade A office space

11. Restrictions
The Regulator has the power to impose a prohibition or requirement on an Authorised Person or Recognised Body in
relation to its business or in relation to its dealing with property in circumstances where:
• there is a reasonable likelihood that it will Contravene a requirement of any Regulations or Rules
• it has contravened a relevant requirement and there is a reasonable likelihood that the Contravention will continue
or be repeated
• there is loss, risk of loss, or other adverse effect on its Customers
• an investigation is being carried out in relation to an act or omission by it that constitutes or may constitute a
Contravention of any applicable Regulation or Rule
• an enforcement action has commenced against it for a Contravention of any applicable Regulation or Rule;
• civil proceedings have commenced against it
• it or any of its Employees may be or has been engaged in Market Abuse
• it is subject to a merger
• a meeting has been called to consider a resolution for its Winding‐Up
• an application has been made for the commencement of any insolvency proceedings or the appointment of any
receiver, administrator or provisional liquidator under the law of any country, territory or jurisdiction outside the
ADGM for it
• there is a notification to dissolve it or strike it from the register maintained by the Registration Bureau, or a comparable
register in another jurisdiction
• there is information to suggest that it is involved in Financial Crime or
• the Regulator considers that this prohibition or requirement is necessary to ensure Customers, Authorised
Persons, Recognised Bodies, or the financial system, are not adversely affected

12. Rules Governing ADGM
Anti-Money Laundering
and Sanctions Rules and
Guidance (AML)
Islamic Finance Rules
(IFR)
Prudential —
Investment, Insurance
Intermediation and
Banking Rules (PRU)
Fees Rules (FEES)
General Rulebook (GEN)
Conduct of Business
Rule (COBS)
Captive Insurance
Business Rules (CIB)
Fund Rules (FUNDS)
Market Infrastructure
Rule (MIR)
Market Rules (MKT)
Rules of Market Conduct
(RMC)
Fund Passporting Rules
(FP)

13. Requirements – Annual Filings
Annual Filings
ADGM registered entities are obliged to complete a specified number of filings on an
annual basis, during the same period each year. These will more often than not fall on the
anniversary of incorporation or registration of the entity
Important Annual Filings
ADGM Commercial Licence Renewal
Data Protection Renewal
Annual Return
Every ADGM entity has a duty to deliver annual returns within
one month of the anniversary of incorporation and then on an
annual basis. Filing costs US $100 and must be submitted in a
timely manner or entities can face a fine of up to US $2000
Annual Accounts
Every ADGM entity must keep adequate accounting records,
prepared in accordance with International Accounting
Standards (IAS). The first Accounting Reference Period is a
period of more than 6 months but not over 18 months from
date of incorporation.

14. Requirements – Event-driven Filings
Event-driven Filings
An Event-driven Filing refers to an entity’s obligations to notify the Registrar
of certain changes / events that occur with regards to the registered entities
It is important for an ADGM registered entity to gain an understanding of what events
trigger filing requirements and the obligations in order to avoid substantial fines
Examples of Event-driven Filings
Change of company name
Amendment of Articles of Association
Appointment of authorised signatory
Appointment, cessation or change in particulars of director
Appointment, cessation or change in particulars of secretary
Change of registered office address
Alternative location of company’s record
Maintain accounting reference date
Appointment or cessation of recognised auditor
Maintain business activities
Change in particulars of shareholder
Increase authorised share capital
Allotment or transfer of shares
Appointment, cessation or change in particulars of beneficial owner

15. Credits and Acknowledgments
Bharathi Priya R D

16. Thank You
DVS Advisors LLP
India-Singapore-London-Dubai-Malaysia-Africa
www.dvsca.com
Copyrights © 2019 DVS Advisors LLP