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's Financial Services Permission, including banking and payment rails.
Get an investment license in Abu Dhabi.
An Abu Dhabi investment licence is an ADGM licence: one Financial Services Permission from the FSRA under the Financial Services and Markets Regulations 2015, priced by prudential category - Category 3C managing assets and funds at US$250,000 base capital, Category 4 advising and arranging at US$50,000, Category 3A dealing as agent at US$500,000, Category 2 principal dealing at US$2 million. English common law and ADGM Courts, 100% foreign ownership, no personal income tax. The register held 365 financial services entities at Q1 2026, 179 of them asset and fund managers. We build the file from our own Dubai office, in the same federation and the same working day.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Abu Dhabi in brief
One permission, five categories, no clock.
Investment business in Abu Dhabi is licensed inside the Abu Dhabi Global Market, where the FSRA grants a single Financial Services Permission under the Financial Services and Markets Regulations 2015 (FSMR): the permission lists the Regulated Activities from FSMR Schedule 1, and the highest-risk activity fixes the prudential category. Base capital under PRU 3.3.2 runs Category 4 advising and arranging at US$50,000 (raised from US$10,000 on 19 August 2025), Category 3C managing assets and managing a collective investment fund at US$250,000 - or, for a fund-manager-only firm, US$150,000 with a public or retail fund and US$50,000 otherwise - Category 3A dealing as agent at US$500,000, Category 2 principal dealing at US$2 million. Ongoing capital is the highest of that base figure, the expenditure-based minimum (18/52 of annual audited expenditure with client assets, 13/52 without) and, for Categories 1, 2, 3A and 5, a risk capital requirement. Only a body corporate or partnership may apply (FSMR s. 27).
The register is the commercial argument. ADGM reported 365 financial services entities at the close of Q1 2026, up 30% from 281 a year earlier, with 179 asset and fund managers and 263 funds run from the Centre; the emirate behind it counts 4,135,985 residents (SCAD, 2024). Tax: 9% federal corporate tax above AED 375,000 of taxable income, 0% on the qualifying income of a Qualifying Free Zone Person, withholding tax at 0%, no personal income tax, VAT at 5%. Two things the FSRA does not give you: a statutory decision period - FSMR prints none and no processing statistics are published - and an investor compensation scheme, which no ADGM source lists. What it does give is English common law with ADGM Courts, and a Category 4 firm without client assets that runs on base capital and liquid assets alone since 19 August 2025. We build the file from our own Dubai office.
An Abu Dhabi licence is an ADGM Financial Services Permission under FSMR 2015 - Category 3C managing assets at US$250,000, Category 4 advising and arranging at US$50,000 since 19 August 2025, 3A dealing as agent at US$500,000; English common law, controlled functions approved personally, no statutory clock.
9% corporate tax above AED 375,000, 0% qualifying free-zone income, 0% withholding, no personal income tax; 365 licensed entities at Q1 2026 - built from our own Dubai office.
The category ladder
Category 3C management - or the Category 4 entry.
The FSRA prices the permission by risk: advising and arranging at US$50,000, managing assets at US$250,000, dealing as agent at US$500,000, principal dealing at US$2 million. The activity set fixes the category - we fix it first.
Category 3C management - or the US$50k Category 4 entry.
01 - CATEGORY 3C · MANAGING ASSETS
The manager's permission
Managing assets and managing a collective investment fund from ADGM - US$250,000 base capital, US$150,000 or US$50,000 for a fund-manager-only firm, an expenditure-based minimum of 13/52 without client assets and 18/52 with, application and annual fees of US$25,000 each for managing assets.
Managing assets and managing a collective investment fund from ADGM - US$250,000 base capital, US$150,000 or US$50,000 for a fund-manager-only firm, an expenditure-based minimum of 13/52 without client assets and 18/52 with, application and annual fees of US$25,000 each for managing assets.
- ✓Managing assets - discretionary
- ✓Managing a collective investment fund
- ✓US$250,000 base capital (PRU 3.3.2)
- ✓Fund-manager-only: US$150,000 retail · US$50,000
- ✓EBCM 13/52 · 18/52 with client assets
- ✓FSRA fee US$25,000 · US$25,000 a year
02 - CATEGORY 4 · ADVISING AND ARRANGING
US$50,000 base capitalThe advisory entry
Advising on investments and arranging deals at US$50,000 base capital - the floor rose from US$10,000 on 19 August 2025, and in exchange a Category 4 firm without client assets no longer carries an expenditure-based minimum: base capital plus liquid assets above it, US$15,000 to apply and US$15,000 a year.
Advising and arranging at US$50,000 base capital, no expenditure-based minimum without client assets - the ADGM entry that upgrades to 3C when mandates justify it.
- ✓Advising on investments or credit
- ✓Arranging deals in investments
- ✓US$50,000 base capital since 19 Aug 2025
- ✓No EBCM without client assets
- ✓FSRA fee US$15,000 · US$15,000 a year
- ✓Upgrade path to Category 3C
Base capital per PRU 3.3.2 as amended with effect from 19 August 2025; fees per FEES VER16.181223 - a later version (VER20) took effect on 1 January 2026, so every charge is confirmed before filing. Capital, controlled functions and substance are itemised in your quote.
Why Abu Dhabi for a new firm
Six reasons managers pick ADGM.
ADGM sells the cheaper manager capital of the two UAE Centres, on English common law, inside a register that grew 30% in a year.
✓
The cheaper manager floor
Category 3C managing assets at US$250,000 base capital, a fund-manager-only firm at US$150,000 or US$50,000 - half the DIFC's US$500,000 for the same discretionary mandate.US$250k, half the DIFC.
✓
A register growing at 30%
365 financial services entities at Q1 2026 against 281 a year earlier, 179 asset and fund managers, 263 funds - a Centre filling with the peers and counterparties a manager needs.365 entities, 179 managers.
✓
English common law
ADGM Courts, legislation with English as its official language and a rulebook global LPs already read - the familiar system beside sovereign capital.ADGM Courts, English statute.
✓
The tax position
9% federal tax above AED 375,000, 0% on qualifying free-zone income, withholding tax at 0%, no personal income tax and VAT at 5%.No withholding, no personal tax.
✓
Category 4 without the EBCM
Since 19 August 2025 an advisory or arranging firm holding no client assets runs on US$50,000 base capital plus liquid assets - no expenditure-based minimum, so a lean boutique is not capitalised like a bank.No EBCM without client assets.
✓
A regulator without a clock
FSMR sets no decision period and the FSRA publishes no processing statistics, so the timetable is the quality of the file - pre-application meetings with case officers first, In-Principle Approval before the permission.File quality is the timetable.
How it compares
How Abu Dhabi differs from other routes.
The honest comparison: lower manager capital than the DIFC and a bigger register than any Gulf Centre we can count - without a clock, a compensation scheme or a passport.
Abu Dhabi vs other jurisdictions
| Feature |  Abu Dhabi - ADGM | Other jurisdictions |
|---|---|---|
| Regime | FSMR 2015 · one FSP, Categories 1-5 | DFSA categories · CBB Volume 4 · QFC INMA |
| Manager capital | US$250k Cat 3C · US$50k Cat 4 | DIFC US$500k · Bahrain BD 250k Cat 2 |
| Scope | No passport · UAE fund passporting | None in the Gulf either · EU: 30-state passport |
| Timeline | No FSMR clock · no published stats | Bahrain 60 days by law · QFC three-month aim |
Regime
Abu Dhabi - ADGMFSMR 2015 · one FSP, Categories 1-5
Other jurisdictionsDFSA categories · CBB Volume 4 · QFC INMA
Manager capital
Abu Dhabi - ADGMUS$250k Cat 3C · US$50k Cat 4
Other jurisdictionsDIFC US$500k · Bahrain BD 250k Cat 2
Scope
Abu Dhabi - ADGMNo passport · UAE fund passporting
Other jurisdictionsNone in the Gulf either · EU: 30-state passport
Timeline
Abu Dhabi - ADGMNo FSMR clock · no published stats
Other jurisdictionsBahrain 60 days by law · QFC three-month aim
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Abu Dhabi - ADGM | FSRA FSP · Cat 3C / 4 | 9% · 0% qualifying | US$250k · US$50k advisory |
| Dubai - DIFC | DFSA Cat 3C / 4 | 9% · 0% qualifying | US$500k · US$10k advisory |
 Bahrain | CBB Cat 1-4 · Volume 4 | No CIT · 15% DMTT large | BD 250k Cat 2 · BD 125k Cat 3 |
 Qatar - QFC | QFCRA authorisation · INMA | 10% · 0% managers | INMA capital · 3-month aim |
Abu Dhabi - ADGMLicense typeFSRA FSP · Cat 3C / 4
Taxation9% · 0% qualifying
RequirementsUS$250k · US$50k advisory
Dubai - DIFCLicense typeDFSA Cat 3C / 4
Taxation9% · 0% qualifying
RequirementsUS$500k · US$10k advisory
BahrainLicense typeCBB Cat 1-4 · Volume 4
TaxationNo CIT · 15% DMTT large
RequirementsBD 250k Cat 2 · BD 125k Cat 3
Qatar - QFCLicense typeQFCRA authorisation · INMA
Taxation10% · 0% managers
RequirementsINMA capital · 3-month aim
Before you apply
Requirements for the ADGM permission.Requirements for the permission.
The FSRA examines the category it licenses and the people who will run it. The checklist below is what a passing file contains.
01
ADGM entity - a body corporate or partnership (FSMR s. 27), incorporated with the Registration Authority after the FSRA application is lodged: US$300 incorporation, US$200 commercial licence, US$16,000 Category A activity fee, US$16,500 at renewal.
02
Regulated Activities mapped - each activity from FSMR Schedule 1 named in the permission, the highest-risk activity setting the prudential category, the Threshold Conditions of FSMR s. 28 met.
03
Base capital - US$50,000 Category 4, US$250,000 Category 3C, US$500,000 Category 3A, US$2 million Category 2 under PRU 3.3.2, held in the entity from day one.
04
Expenditure-based minimum - 18/52 of annual audited expenditure with client assets, 13/52 for a Category 3C firm without; a Category 4 firm without client assets carries none since 19 August 2025 (PRU 3.7).
05
Controlled functions - Senior Executive Officer, Compliance Officer and MLRO resident in the UAE, plus a Finance Officer and Licensed Directors; the SEO may not double as Compliance Officer or MLRO (GEN chapter 5).
06
Approved Persons - fit and proper under FSMR ss. 43-46, interviewed during the review, US$500 per application (FEES 5.1.1).
07
Regulatory business plan - the document the case officers test in pre-application meetings and again in review: strategy, clientele and projections that survive questions.
08
Premises - a physical presence on Al Maryah Island or Al Reem Island; the size is not prescribed, the existence is not negotiable.
09
Client-asset arrangements - COBS client money and safe custody segregation wherever the permissions touch client assets; holding them moves the EBCM to 18/52.
10
Capital monitoring - notification when capital resources fall below 120% of the requirement (PRU 3.20.2), and professional indemnity insurance to the FSRA's minimum standards from 1 January 2026.
01
Body corporate, RA-incorporated.
02
Activities mapped to category.
03
Base capital per PRU 3.3.2.
04
EBCM 18/52 or 13/52.
05
Resident SEO, CO, MLRO.
06
Approved Persons, US$500 each.
07
Testable business plan.
08
Premises on Al Maryah.
09
COBS client-asset logic.
10
120% capital alert, PII.
Reflects FSMR and the FSRA rulebooks (GEN VER14.210526, PRU VER20.270426) as of 2026. Approved Person applications run inside the firm's application.FSMR and FSRA rulebooks, as of 2026.
How it works
From first call to the Financial Services Permission.
01
Category strategy
Regulated Activities, category and capital fixed against the real model - the ladder climbed deliberately.Ladder climbed deliberately.
02
Pre-application
Meetings with FSRA case officers before anything is filed; the entity and the Approved Persons bench assembled in parallel.Case officers met first.
03
The application
Regulatory business plan, forms and the application fee - US$25,000 for managing assets, US$15,000 for advising and arranging - lodged with the FSRA.RBP, forms, fee.
04
Review and interviews
Case-team questions answered on schedule, Approved Persons interviewed, In-Principle Approval granted subject to conditions.Interviews, In-Principle Approval.
05
Permission and launch
The FSP granted by written notice under FSMR s. 41, the Registration Authority licence issued, banking and custody live.FSMR s. 41 notice.
Quick facts
RegulatorFSRA
LicenceFinancial Services Permission
Cat 4 advising/arrangingUS$50,000
Cat 3C managing assetsUS$250,000
Cat 3A dealing as agentUS$500,000
Cat 2 principal dealingUS$2,000,000
Statutory decision periodNone in FSMR
Corporate tax9% · 0% qualifying
Category A financial entities apply to the FSRA before incorporating with the Registration Authority - we sequence the two filings so neither waits on the other.
On the ground in Abu Dhabi
Run from our Abu Dhabi office.
Prifinance - Abu Dhabi
Abu Dhabi · Abu Dhabi
Abu Dhabi, Abu Dhabi
01
Category strategy
The activity set priced across Category 4, 3C and 3A honestly - base capital, EBCM and fees decided before the build.Priced honestly.
02
The FSRA file
Regulatory business plan, systems documentation and prudential pack complete at submission, defended through pre-application meetings and review.Complete, defended.
03
Approved Persons bench
SEO, Compliance Officer, MLRO and Finance Officer sourced where gaps exist, resident where the rulebook says resident, approved with the firm.Residents approved.
04
RA licence and launch
Registration Authority incorporation sequenced behind the FSRA application, then banking and custody - the permission live on Al Maryah Island.Sequenced, live.
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 investment firms in Abu Dhabi.
A single-digit federal headline, a qualifying rate of zero and withholding at nil - the economics the permission sits on.
9% federal headline
Federal Decree-Law No. 47 of 2022: 0% on taxable income up to AED 375,000, 9% above it, for financial years starting on or after 1 June 2023.Above AED 375k.
0% qualifying income
A Qualifying Free Zone Person pays 0% on qualifying income and 9% on the rest - the ADGM structure is built to keep the first category.QFZP income.
Withholding tax 0%
The UAE withholding rate is set at 0% - dividends and interest leave the structure without leakage.Clean exits.
No personal income tax
Salaries carry no income tax - principals and portfolio teams keep their compensation whole.Teams keep pay.
VAT at 5%
Standard rate since 1 January 2018; how each fee line sits under the financial-services rules is confirmed for your model before the first invoice.Since 2018.
No sector levy
Beyond FSRA supervision fees - US$25,000 a year for managing assets, US$15,000 for advising and arranging - there is no separate levy on financial firms.FSRA fees only.
Tax summary
Corporate tax9% · over AED 375k
Qualifying free-zone income0%
Withholding tax0%
Personal income taxNone
VAT5%
*Figures as of 2026 per the UAE Ministry of Finance and Federal Decree-Law No. 47 of 2022. Qualifying-income status is structured and defended per case.
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 company, 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, licensed firm.
Follow Prifinance
Active across our channels.
Abu Dhabi · FSRA
Launch your investment firm in Abu Dhabi with expert support.
Full-service assistance - from category strategy and Approved Persons to the FSRA permission, the Registration Authority licence and launch - run through our Abu Dhabi office.
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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.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Abu Dhabi investment licence, answered.
What licence does an investment manager need in Abu Dhabi?+
A Financial Services Permission from ADGM's FSRA under FSMR 2015, listing the Regulated Activities and carrying the prudential category of the riskiest one - Category 3C for managing assets and funds, Category 4 for advising and arranging, 3A for dealing as agent, 2 for principal dealing.
What capital is required?+
Base capital under PRU 3.3.2: US$50,000 for Category 4, US$250,000 for Category 3C (US$150,000 or US$50,000 for a fund-manager-only firm), US$500,000 for 3A, US$2 million for Category 2. Ongoing capital is the highest of that figure, the expenditure-based minimum and, for Categories 1, 2, 3A and 5, the risk capital requirement.
What changed on 19 August 2025?+
The Category 4 base capital rose from US$10,000 to US$50,000, and Category 4 firms holding no client assets lost the expenditure-based minimum - they hold base capital plus liquid assets above it. Category 3B and 3C firms received reporting relief, and PII minimum standards apply from 1 January 2026.
Who must be approved personally?+
The controlled functions: Senior Executive Officer, Finance Officer, Compliance Officer and MLRO, plus Licensed Directors for an ADGM-incorporated firm. The SEO, Compliance Officer and MLRO must be resident in the UAE, one person cannot be SEO and Compliance Officer or MLRO, and each Approved Person application costs US$500.
How long does authorisation take?+
Honestly: FSMR sets no decision period and the FSRA publishes no processing statistics, so nobody can print a lawful number. The sequence is fixed - pre-application meetings, submission, review with interviews, In-Principle Approval, then the permission - and we give you a dated plan for each stage in the quote.
What does the FSRA charge?+
Application and annual supervision fees per FEES VER16.181223: managing assets US$25,000 and US$25,000, dealing as agent the same, advising and arranging US$15,000 and US$15,000, managing a collective investment fund US$10,000 and US$10,000. Several activities pay the highest fee plus the lesser of US$10,000 or each extra activity's fee.
How are ADGM investment firms taxed?+
9% federal corporate tax above AED 375,000 of taxable income, 0% on the qualifying income of a Qualifying Free Zone Person, withholding tax at 0%, no personal income tax and VAT at 5% - the same federal position the DIFC has.
Is there an investor compensation scheme?+
No - no ADGM source lists an investor compensation scheme,. Client money and safe custody sit under the COBS segregation rules, and a firm holding client assets carries the heavier 18/52 expenditure-based minimum for that reason.
Abu Dhabi or Dubai for a new firm?+
ADGM prices the manager lower - Category 3C at US$250,000 against the DFSA's US$500,000 - and sits beside sovereign capital; the DIFC has the deeper private-wealth cluster, a US$10,000 Category 4 entry against ADGM's US$50,000 and a realistic 6-10 month track record we can quote. Client geography decides - we model both.
Why Prifinance for Abu Dhabi?+
Our own office in Dubai, category strategy priced against the 19 August 2025 rules, and an Approved Persons bench sourced and prepared. We sequence the FSRA application and the Registration Authority incorporation so the file moves as the regulator designs it.
What licence?+
FSRA FSP - Cat 3C / 4.
Capital?+
US$250k · US$50k advisory.
19 Aug 2025?+
Cat 4 US$50k, no EBCM.
Individuals?+
SEO, CO, MLRO resident.
How long?+
No clock - staged plan.
Fees?+
US$25k · US$15k.
Taxes?+
9% · 0% qualifying.
Compensation scheme?+
None.
Or Dubai?+
Cheaper 3C vs deeper cluster.
Why you?+
Own office in the UAE.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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Google
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Google
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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 ADGM category fits your project and what it will cost.
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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 Financial Services Regulatory Authority (FSRA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.