02 May The Benefits of Category 4 License in ADGM: Empowering Your Asset Management Business
In this article, you will see the benefits of obtaining an ADGM Category 4 License in UAE.
Abu Dhabi Global Market (ADGM) is a financial free zone in the capital of the UAE that offers businesses the opportunity to operate within a well-regulated and internationally recognized financial environment.
An ADGM category 4 license is a license that is issued to companies that intend to carry out financial activities that are related to asset management, including fund management, investment advice, and portfolio management. The license allows companies to operate within the ADGM and offer their services to clients within and outside of the free zone.
Benefits of Obtaining a Category 4 License in ADGM (Abu Dhabi Global Market) Free Zone
ADGM is recognized as one of the top financial centers in the MENA region, and companies that obtain an ADGM category 4 license benefit from being associated with this reputable financial center. This can help enhance their brand and reputation and attract a wider range of clients.
The Abu Dhabi Global Market (ADGM) is the regional home to many well-known companies such as Binance, Mizuho Bank, and Banque Richelieu. The free zone is also home to several tech companies, including Hub71, an Abu Dhabi-based tech ecosystem that supports startups and entrepreneurs. In addition to the reputation benefits, obtaining an ADGM license in Category 4 also allows companies to access a diverse range of clients, including high-net-worth individuals and institutional investors.
Another significant benefit of obtaining a Category 4 license is access to a skilled and diverse talent pool based in Abu Dhabi. ADGM is home to many professionals from various backgrounds and nationalities, including finance, law, and technology. Companies that obtain an ADGM category 4 license can leverage this talent pool to recruit top talent to their organizations and build a team of professionals that can help them achieve their business objectives.
Requirements for an ADGM Category 4 License
To obtain an ADGM category 4 license, companies must meet certain requirements. The company must have a minimum of two directors, with at least one of them being a UAE resident. A Money Laundry Reporting Officer, Compliance Officer, and Risk Officer will also be needed for your venture.
Another requirement is that the company must have adequate financial resources to conduct its proposed activities. The specific capital requirements vary depending on the type of activity that the company intends to carry out. For example, a company that intends to carry out fund management activities must have a minimum paid-up capital of AED 1,000,000. Note that added capital requirements may be imposed by FSRA on the review of your application.
In addition to the financial requirements, companies that intend to obtain an ADGM category 4 license must also meet certain regulatory and compliance requirements. These include having appropriate policies and procedures in place to manage risks, as well as complying with AML and counter-terrorism financing regulations.
Fees & Timeframe
The fees included in this article were accurate when published; please consult us for the latest prices.
|Approximately 4 to 6 months|
Business Setup Consultants is committed to providing you with an all-encompassing range of services to help you obtain your ADGM license in Category 4. Our offerings include preliminary consultations, support with the authorization process, and preparation of all essential legal documents. Our team of proficient experts will be with you every step of the way, ensuring that your application is thorough, and the process runs smoothly and efficiently from start to finish.