21 Jun ADGM Company Set-Up Cost: An In-Depth Look at ADGM Business License Costs
In this article, we will have an in-depth look at ADGM company set-up cost/business license costs.
Abu Dhabi Global Market (ADGM) is an international financial center located in the capital city of the United Arab Emirates. Established in 2013, it operates on Al Maryah Island and is a strategic business hub, attracting a broad spectrum of companies and institutions.
ADGM provides a dynamic environment that fosters innovation and growth. It’s home to various industries, including banking, wealth management, asset management, reinsurance, fintech, and more. ADGM also encourages the development of smaller businesses and startups with initiatives like the ADGM Tech Startup License and the ADGM Fintech Regulatory Sandbox, designed to nurture and regulate emerging technologies and industries.
ADGM Company Set-Up Cost:
Here is a general breakdown of the categories of costs involved:
1. ADGM Business Registration Cost:
This is the initial fee you would need to pay to register your business in ADGM. Registration costs are divided into categories. Each category represents the business activities of the applicant.
- Category A: Financial Services
- Category B: Non-Financial Services
- Category C: Retail
|Standard Cost for Registering Business in ADGM|
|Category A (Financial)||$15,000|
|Category B (Non-Financial)||$10,300|
|Category C (Retail)||$6,000|
2. Annual Abu Dhabi Global Market License Cost:
This is an ongoing yearly cost for maintaining the ADGM business license. The cost typically varies based on the type and nature of the business.
|Standard Cost – ADGM Business License Renewals|
|Category A (Financial)||$13,000|
|Category B (Non-Financial)||$8,000|
|Category C (Retail)||$4,000|
3. Additional Activity Cost for ADGM Company:
If your company is engaged in certain specialized activities, you may need to pay additional licensing fees. For instance, financial services or other regulated businesses may have additional costs associated with their specific licensing requirements.
4. Space Rental at Abu Dhabi Global Market:
ADGM requires businesses to have a physical presence within their jurisdiction. Therefore, you must consider the cost of leasing space in the ADGM area. The fees can vary significantly based on what you decide. For more information, please click on this link.
5. ADGM Service Charges:
There could be charges for various services the ADGM offers, like legal documentation, no objection certificates, etc.
|Services offered by ADGM||Cost|
|Change of Company Name||$100|
|Maintain Alternative Location of Company’s Records||$100|
|Appointment/Cessation of Authorized Signatories||$100|
|Maintain Details of Authorised Signatories||$100|
|Appointment/Cessation of Directors||$100|
|Maintain Details of Directors||$100|
|Appointment/Cessation of Secretary||$100|
|Maintain Details of the Secretary||$100|
|Increase of Amount of Authorised Share Capital||$100|
|Reduction of Amount of Authorised Share Capital||$100|
|Allotment of Shares||$100|
|Transfer of Shares||$100|
|Consolidation / Subdivision of Shares||$100|
|Change of Name of Share Class||$100|
|Maintain Variation of Rights Attached to Shares||$100|
|Purchase/Cancellation of Own Shares/Reduction of Shares||$100|
|Certified True Copy of Document||$100|
|Certificate of Good Standing||$100|
|Certificate of Incumbency||$100|
|Zero Tax Certificate||$100|
|Under Formation Certificate||$100|
|Adhoc Certificates (e.g. No Objection Certificates)||$100|
|Add a New Class of Shares||$100|
6. Visa Costs:
If you’re planning to hire foreign staff or are not a UAE citizen, you’ll need to account for visa-related costs.
|New Employment Visa (Inside UAE) – 2 Years||$1,021|
|New Employment Visa (Outside UAE) – 2 Years||$800|
|New Employment Visa (Inside UAE) – 1 Year||$750|
|New Employment Visa (Outside UAE) – 1 Year||$530|
|Employment Visa Transfer||$800|
7. Additional Approvals:
If your business is related to certain regulated activities like finance, law, or healthcare, it might require other approvals from the relevant authorities, which could come with associated costs.
8. Data Protection Fees:
The Office of Data Protection (ODP) is the independent data protection body responsible for promoting data protection within ADGM. There is an annual cost that all entities must pay.
|Standard Cost for Data Protection|
|Data Protection Initial Registration||$300|
|Data Protection Annual Renewal||$300|
ADGM Business License Cost
These are some general cost categories associated with obtaining a business license at ADGM. As costs may vary widely based on the type of business and other factors, getting the most accurate and up-to-date information directly from ADGM (Abu Dhabi Global Market) or a business consultant familiar with ADGM’s regulations is crucial.