Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSRA decision, including banking and payment rails.
Get a crypto license in ADGM, Abu Dhabi.
The region's oldest virtual-asset framework - FSRA-regulated since 2018, inside a common-law free zone with English courts. The permission institutional counterparties trust most in the Gulf.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
ADGM in brief
The Gulf's institutional crypto jurisdiction.
Abu Dhabi Global Market wrote the region's first serious crypto rulebook back in 2018 - years before VARA existed, and its Financial Services Regulatory Authority has supervised virtual-asset exchanges, custodians and broker-dealers ever since. The free zone runs on directly applied English common law with its own courts, which is precisely why funds, trading desks and institutional venues choose it over every alternative in the Gulf.
The FSRA issues a Financial Services Permission per regulated activity, with capital set from your expenditure base plus activity floors - a bank-style approach that rewards well-capitalised, well-governed applicants. Around it: 0% tax on qualifying free-zone income, no personal income tax, and Abu Dhabi's sovereign-capital ecosystem next door. We carry ADGM files from our own Dubai office, an hour down the road.
The Gulf's institutional crypto jurisdiction - FSRA-supervised since 2018, English common law with ADGM's own courts.
One FSP scoped to your activities, capital from your expenditure base, 0% qualifying tax - run from our Dubai office an hour away.
The permission
One FSP - scoped to your regulated activities.
ADGM licenses through a single Financial Services Permission that lists your regulated activities: operating an MTF for virtual assets, custody, dealing, advising or arranging. Each activity brings its own conduct rules and capital contribution. The FSP grows with the business.
One Financial Services Permission listing your regulated activities. It grows with the business.
01 - FSP · DEALING & ADVISORY
Broker-dealer and advisory scopes
Dealing in virtual assets as principal or agent, arranging deals, advising. The scopes trading desks and brokerages start with, at proportionate capital.
Dealing in virtual assets as principal or agent, arranging deals, advising. The scopes trading desks and brokerages start with, at proportionate capital.
- ✓Dealing in virtual assets (principal / agent)
- ✓Arranging deals and advising on investments
- ✓Managing assets including virtual assets
- ✓Expenditure-based capital + activity floors
- ✓English-law client documentation
- ✓Path to add scopes as the desk grows
02 - FSP · MTF & CUSTODY
Institutional benchmarkExchange and custody scopes
Operating a virtual-asset MTF and providing custody. The FSRA's flagship scopes, held by the region's institutional venues and depositaries.
MTF and custody. The FSRA's flagship scopes, held by the region's institutional venues.
- ✓Operating a Multilateral Trading Facility (VA)
- ✓Providing custody of virtual assets
- ✓Client-asset segregation to FSRA standards
- ✓Market-conduct and surveillance obligations
- ✓6-10 months for a full authorisation
- ✓The permission institutions recognise
Costs and timelines are confirmed for your case before any work begins. FSRA capital is set from your expenditure base plus activity floors. We model it with your financials, and regulator and third-party fees are itemised in your quote.
Why ADGM
Common law, first-mover supervision, sovereign neighbours.
The framework is the ADGM Financial Services and Markets Regulations with the FSRA's virtual-asset framework layered in since 2018. The oldest continuously supervised crypto regime in the region.
✓
Since 2018 - not since yesterday
The FSRA published its virtual-asset framework years before most regulators knew the word custody. Supervisory experience shows: files are judged by people who have seen the failure modes.The region's longest crypto supervisory track record.
✓
English common law, own courts
ADGM applies English common law directly, with its own courts and judges. For institutional counterparties and their lawyers, that single fact often decides the jurisdiction.The fact that decides it for institutional counsel.
✓
Bank-style capital logic
Capital follows your expenditure base plus activity floors. Proportionate for advisory desks, serious for MTFs and custodians. The regime rewards governance, not box-ticking.Expenditure-based + floors. Governance over box-ticking.
✓
The institutional cluster
Sovereign funds, global asset managers and the region's serious venues sit inside or next to ADGM. The counterparties a licensed business actually wants are neighbours.Sovereign funds and global managers next door.
✓
0% qualifying free-zone tax
ADGM entities enjoy the Qualifying Free Zone Person regime - 0% on qualifying income - plus the UAE's 0% personal income tax for founders and staff.QFZP regime plus 0% personal income tax.
✓
A clean pairing with VARA or the EU
Groups often hold an ADGM permission for institutional business alongside a VARA or MiCA licence for retail. We run all three desks and structure the split.Institutional here, retail there. We run all desks.
How it compares
ADGM against the alternatives.
ADGM is the institutional end of the Gulf spectrum. Slower and more demanding than a commercial free zone, with a permission that carries correspondingly more weight.
ADGM vs other jurisdictions
| Feature |  ADGM | Other jurisdictions |
|---|---|---|
| Framework age | Since 2018 - region's first | 2022 or later |
| Legal system | English common law, own courts | Civil-law codes |
| Capital logic | Expenditure-based + floors | Fixed minimums |
| Audience | Institutions, funds, venues | Retail-heavy mixes |
Framework age
ADGMSince 2018 - region's first
Other jurisdictions2022 or later
Legal system
ADGMEnglish common law, own courts
Other jurisdictionsCivil-law codes
Capital logic
ADGMExpenditure-based + floors
Other jurisdictionsFixed minimums
Audience
ADGMInstitutions, funds, venues
Other jurisdictionsRetail-heavy mixes
Regulator by regulator
| Jurisdiction | License type | Taxation | Requirements |
|---|---|---|---|
| Abu Dhabi (ADGM) | FSRA FSP - VA activities | 0% qualifying free zone | Institutional bar, 6-10 months |
| Dubai (VARA) | VASP by activity - 7 classes | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
 Singapore | MAS DPT (SPI / MPI) | 17% CIT, no CGT | Selective, 9-12+ months |
 Switzerland | SRO / FINMA routes | ~12-14% CIT by canton | Fast SRO entry, no EU passport |
Abu Dhabi (ADGM)License typeFSRA FSP - VA activities
Taxation0% qualifying free zone
RequirementsInstitutional bar, 6-10 months
Dubai (VARA)License typeVASP by activity - 7 classes
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
SingaporeLicense typeMAS DPT (SPI / MPI)
Taxation17% CIT, no CGT
RequirementsSelective, 9-12+ months
SwitzerlandLicense typeSRO / FINMA routes
Taxation~12-14% CIT by canton
RequirementsFast SRO entry, no EU passport
Before you apply
Requirements for an ADGM FSP.Requirements for an ADGM FSP.
The FSRA assesses on institutional criteria: governance, capital adequacy and operational resilience. The checklist below is what a credible file contains.
01
ADGM entity. Incorporated in the free zone with a physical office there.
02
Regulated-activity scoping. Dealing, arranging, advising, managing, MTF or custody, each with its rulebook.
03
Capital. Modelled from your expenditure base plus activity floors, evidenced and maintained.
04
Senior Executive Officer resident in the UAE - plus a locally accountable governance chain.
05
Approved compliance officer and MLRO. Named, vetted individuals with real authority.
06
Fit & proper controllers. Clean records and source-of-wealth evidence for qualifying holders.
07
Regulatory business plan. Activities, clients, volumes and three-year financials the FSRA can test.
08
AML/CFT framework. UAE federal law plus FSRA rules: KYC, monitoring, goAML, travel rule.
09
Technology, custody and resilience packs. Key management, segregation, cybersecurity, outsourcing.
10
Client-asset rules. Segregation and safe-custody arrangements to FSRA standards.
11
Professional indemnity and prudential reporting arrangements from day one.
01
ADGM entity with a physical office.
02
Regulated-activity scoping per rulebook.
03
Capital. Expenditure base + activity floors.
04
Resident Senior Executive Officer.
05
Approved compliance officer and MLRO.
06
Fit & proper controllers with source of wealth.
07
Regulatory business plan the FSRA can test.
08
AML/CFT. KYC, goAML, travel rule.
09
Technology, custody and resilience packs.
10
Client-asset segregation to FSRA standards.
Reflects the FSMR and FSRA virtual-asset framework as of 2026. The FSP lists your activities. Scopes can be added later as the business grows.FSMR and FSRA VA framework, 2026. Scopes can be added as the business grows.
How it works
From first call to an FSRA permission.
01
Activity scoping
We map your model to FSMR regulated activities, size the capital from your expenditure base and fix the scope in writing.FSMR activities, capital sizing. Fixed in writing.
02
Entity and substance
ADGM incorporation, office, the resident Senior Executive Officer and the governance chain. Built before filing.Incorporation, office, resident SEO - before filing.
03
The application file
Regulatory business plan, AML/CFT, technology and client-asset packs to FSRA standards.Business plan, AML, technology and client-asset packs.
04
FSRA review
Structured engagement, clarification rounds and interviews. Typically 6-10 months to the permission.Engagement, clarifications, interviews - 6-10 months.
05
Launch and ongoing compliance
Prudential returns, audits, market-conduct and AML flows. We keep the FSP healthy while you run the business.Prudential returns, audits, market conduct, AML.
Quick facts
RegulatorFSRA
FrameworkFSMR · VA since 2018
PermissionFSP by activity
CapitalExpenditure-based + floors
In practice6-10 months
CourtsCommon law, English
Tax0% qualifying free zone
Personal taxNone
Timeframes assume a complete file and substance ready for inspection.
On the ground in the Emirates
Run from our Dubai office, an hour from the square.
Prifinance - UAE
Dubai · Al Saqr Business Tower
33 Level, Al Saqr Business Tower
01
Scoping and the regulator dialogue
Which activities, what capital, which rulebooks - scoped in writing, then walked through the FSRA's engagement process.Activities, capital, rulebooks. Then the FSRA engagement.
02
ADGM entity and substance
Incorporation on Al Maryah Island, office, SEO recruitment and the governance chain the FSRA expects.Incorporation, office, SEO and governance chain.
03
The application file
Regulatory business plan, AML, technology and client-asset packs. Drafted by us, defended through every FSRA round.Business plan, AML, tech and client-asset packs - defended.
04
The dual-desk strategy
Where the group needs retail too, we pair the ADGM permission with VARA or a MiCA CASP from our EU desks.ADGM + VARA or MiCA. Structured as one group.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in the UAE.
The UAE wrapper is the simplest of any major hub: 9% federal corporate tax with a 0% band, no personal income tax at all, and free-zone regimes that can bring qualifying income to zero.
Corporate tax 9%
Federal corporate tax applies at 9% above AED 375,000 of profit (Federal Decree-Law No. 47 of 2022); below that band the rate is 0%.Above AED 375k; 0% below the band.
Free zones: 0% on qualifying income
A Qualifying Free Zone Person pays 0% on qualifying income. The regime that keeps DMCC and ADGM structures competitive; substance and audited accounts are the price.Qualifying income of a QFZP - substance required.
No personal income tax
Salaries, dividends and personal crypto gains bear no UAE income tax. The founders' side of the equation is unmatched among serious jurisdictions.Salaries, dividends and crypto gains untaxed.
No withholding taxes
The UAE levies no withholding on dividends, interest or royalties. Profits move to holding structures without leakage.Profits move to holdings without leakage.
VAT at 5%
The standard VAT rate is 5%; transfers and conversions of virtual assets are exempt (with retrospective effect to 2018), so token trades stay clean.VA transfers exempt, retrospective to 2018.
140+ tax treaties
One of the world's densest treaty networks. With real substance in Dubai or Abu Dhabi behind it, treaty access is genuine.Real substance makes access genuine.
Tax summary
Corporate tax9% over AED 375k
Qualifying free zone0%
Personal income taxNone
Withholding taxesNone
VAT on VA transfersExempt
Standard VAT5%
Tax treaties140+
*Figures as of 2026. Qualifying Free Zone Person status depends on substance, audited accounts and income mix. We model it before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: ADGM entity, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, FSRA-permitted business.
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Abu Dhabi · ADGM FSRA
Launch your institutional crypto business with expert support.
Full-service assistance - from ADGM incorporation and substance to the FSP and banking.
Get a consultation →Free legal opinion
Is ADGM the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which regulator, activity scope, or structure fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The ADGM crypto permission: frequent questions.
What licence does a crypto business need in ADGM?+
A Financial Services Permission from the FSRA listing your regulated activities - dealing, arranging, advising, managing, operating a virtual-asset MTF or providing custody - under the FSMR framework in force since 2018.
How is capital set?+
Bank-style: from your expenditure base plus activity floors, evidenced in the regulatory business plan and maintained continuously. Advisory scopes are proportionate; MTF and custody scopes are capitalised seriously.
How long does authorisation take?+
Typically 6-10 months: structured FSRA engagement, clarification rounds and interviews with your senior team. Substance readiness drives the timeline.
Why do institutions prefer ADGM?+
Directly applied English common law with ADGM's own courts, a supervisor with the region's longest crypto track record, and a neighbourhood of sovereign funds and global managers. Counterparty legal teams sign off faster on ADGM paper.
What substance is required?+
An ADGM office, a Senior Executive Officer resident in the UAE, approved compliance and MLRO officers, and a governance chain the FSRA can hold accountable.
ADGM or VARA?+
Institutional venues, custody and funds - ADGM; retail-facing exchanges and brokers - VARA. Large groups increasingly hold both; we scope the split in writing.
How are ADGM companies taxed?+
As Qualifying Free Zone Persons - 0% on qualifying income, 9% federal above AED 375,000 otherwise, no withholdings, and no personal income tax for founders and staff.
What AML obligations apply?+
UAE federal AML law plus FSRA rules: KYC and monitoring, goAML reporting, the travel rule and approved MLRO arrangements.
Can scopes be added later?+
Yes - the FSP is modular. Desks commonly start with dealing and advisory scopes and add custody or the MTF once volumes and capital justify it.
Can I pair ADGM with an EU licence?+
Yes - a common structure: the ADGM FSP for Gulf and institutional business, a MiCA CASP from our Czech or Lithuanian desks for the 27 EU markets. One group, two engines.
What licence do I need?+
An FSRA Financial Services Permission listing your VA activities.
How is capital set?+
Expenditure base + activity floors - bank-style.
How long?+
6-10 months of structured FSRA engagement.
Why institutions pick ADGM?+
Common law, own courts, the longest track record.
Substance?+
Office, resident SEO, approved compliance and MLRO.
ADGM or VARA?+
Institutional → ADGM; retail → VARA; many hold both.
Taxes?+
0% qualifying income; 9% federal; 0% personal.
AML rules?+
Federal law + FSRA rules: KYC, goAML, travel rule.
Add scopes later?+
Yes - the FSP is modular by design.
Pair with the EU?+
Yes - ADGM + MiCA CASP is a common two-engine setup.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
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Google
Start today
One message away from your ADGM permission.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which scopes and structure fit your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the ADGM FSRA or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.