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 digital banking license in ADGM.
A digital bank on English common law in the Gulf: ADGM's FSRA authorises digital banks - trade finance, SME lending, transactional accounts - with money-services and open-banking permissions alongside. We run the file from our own Dubai office.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
ADGM in brief
Common-law banking, built for the digital case.
Abu Dhabi Global Market runs the Gulf's most institutional digital-banking framework: the Financial Services Regulatory Authority authorises digital banks under a dedicated regime - its authorisation guidance published since 2019, the centre openly soliciting applications - for models built on transactional accounts, SME lending and trade finance rather than branches. The FSRA's wider permission set covers the payments family alongside: providing money services for FX and transfers, and third-party-provider permissions for open banking, where ADGM granted the region's first such licence. Everything sits on ADGM's own English-common-law courts - contracts, security and insolvency in the language global counterparties already trust - with real precedent: international banks and fintech groups hold FSRA financial services permissions today.
The economics complete the case. UAE corporate tax runs at 9% above the small-profit threshold, with qualifying free-zone income at 0% for the right structures; there is no personal income tax and no withholding. Base capital scales with the permission - digital-bank grade at the top, money-services permissions far lighter, and the FSRA engages before filing, so expectations are set in meetings rather than discovered in rejections. For Gulf-and-beyond models that want bank-grade capability without a legacy charter, ADGM is the serious address. Realistic end-to-end: 12-18 months for a digital bank, months for lighter permissions; our own Dubai office runs the programme.
ADGM FSRA digital-bank authorisation on English common law - deposit-taking, SME lending, trade finance digital-first - with money-services and TPP permissions scaled below (the region's first open-banking licence was granted here).
Tax: 9% / 0% qualifying, nothing personal, no withholding. We run it from our own Dubai office.
The two routes
The digital bank - or the money-services permissions.
One regulator, a scaled permission set: the digital-bank authorisation at the top, money-services and open-banking permissions below. We fix the scope first, then build once.
The digital bank at the top. Money-services and TPP permissions below.
01 - DIGITAL BANK LICENCE
FSRA digital bank
The flagship authorisation: deposit-taking, transactional accounts, SME lending and trade finance on a digital-first model. Bank-grade capital and governance under the FSRA's dedicated framework.
The flagship authorisation: deposit-taking, transactional accounts, SME lending and trade finance on a digital-first model. Bank-grade capital and governance under the FSRA's dedicated framework.
- ✓Deposit-taking and accounts
- ✓SME lending and trade finance
- ✓Digital-first - no branch legacy
- ✓Bank-grade base capital
- ✓FSRA prudential supervision
- ✓English-common-law foundation
02 - MONEY SERVICES · TPP ROUTES
The region's first TPP licencePayments permissions
Providing money services. FX, transfers, payment accounts, and third-party-provider permissions for open banking: lighter base capital, faster authorisation, the same common-law foundation.
FX, transfers, payment accounts; open-banking TPP; lighter capital; months not years; upgrade path.
- ✓Providing money services - FX, transfers
- ✓Payment and intermediary services
- ✓TPP - open-banking permissions
- ✓Lighter base capital by permission
- ✓Months, not a bank's timeline
- ✓Upgrade path toward the bank
Costs and timelines are confirmed for your case before any work begins. FSRA fees and base capital follow its rulebooks; substance and office costs are itemised in your quote.
Why ADGM
The institutional address of Gulf fintech.
English common law, an engaged regulator, and the tax logic of the UAE. The combination the region's serious money already chose.
✓
English common law, natively
ADGM applies English common law through its own courts. Contracts, security and resolution in the framework global banks and funds already price.ADGM's own English-law courts.
✓
A dedicated digital-bank regime
The FSRA published its digital-bank authorisation approach and openly welcomes applications. The framework was built for this model, not retrofitted.Built for digital banks.
✓
First-mover permissions
The region's first open-banking TPP licence was granted here. The FSRA reads novel payment models with working precedent, not first impressions.Region's first TPP licence.
✓
9% - and 0% qualifying
UAE corporate tax at 9% with qualifying free-zone income at 0%, no personal income tax, no withholding. The Gulf's fiscal offer on an institutional platform.The Gulf's fiscal offer.
✓
Engagement before filing
The FSRA meets applicants early and frames expectations. The file that follows delivers what was agreed, which is how timelines hold.Framed in meetings, not portals.
✓
Our own Dubai office
Prifinance runs UAE mandates from its own Al Saqr Business Tower office. The programme managed from inside the Emirates.Run from inside the Emirates.
How it compares
How ADGM differs from other routes.
ADGM trades EU passporting for common-law banking capability in the Gulf. The comparison is below.
ADGM vs other jurisdictions
| Feature |  ADGM | Other jurisdictions |
|---|---|---|
| Legal system | English common law - own courts | Civil-law national systems |
| Flagship | Digital bank licence | EMI ceilings |
| Regulator style | Engagement-first FSRA | Portal-first |
| Tax | 9% · 0% qualifying | 12.5-33% |
Legal system
ADGMEnglish common law - own courts
Other jurisdictionsCivil-law national systems
Flagship
ADGMDigital bank licence
Other jurisdictionsEMI ceilings
Regulator style
ADGMEngagement-first FSRA
Other jurisdictionsPortal-first
Tax
ADGM9% · 0% qualifying
Other jurisdictions12.5-33%
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| UAE · ADGM | Digital bank / MS (FSRA) | 9% · 0% qualifying | Common law, engagement-first |
 Singapore | SPI / MPI (MAS) | 17% · reliefs | Staircase, benchmark stamp |
 Hong Kong | SVF (HKMA) | 8.25% / 16.5% | HK$25M, principal business |
 United Kingdom | EMI/PI (FCA) | 25% CIT · 19% small | PSRs/EMRs regime |
UAE · ADGMLicense typeDigital bank / MS (FSRA)
Taxation9% · 0% qualifying
RequirementsCommon law, engagement-first
SingaporeLicense typeSPI / MPI (MAS)
Taxation17% · reliefs
RequirementsStaircase, benchmark stamp
Hong KongLicense typeSVF (HKMA)
Taxation8.25% / 16.5%
RequirementsHK$25M, principal business
United KingdomLicense typeEMI/PI (FCA)
Taxation25% CIT · 19% small
RequirementsPSRs/EMRs regime
Before you apply
Requirements for the FSRA authorisation.Requirements for the authorisation.
The FSRA frames expectations in engagement and holds the file to them. The craft is delivering exactly that at bank grade. The checklist below is what a passing application contains.
01
ADGM entity. A company incorporated in the centre with real presence on Al Maryah Island.
02
Base capital. Scaled to the permission: bank-grade for the digital bank, lighter for money services.
03
Fit and proper leadership. A board and senior executives with banking-grade track records, approved individually.
04
Transparent ownership. Controllers disclosed and assessed to UBO level.
05
Regulatory business plan. Model, volumes and three-year financials the FSRA can interrogate.
06
Prudential framework. Capital, liquidity and large-exposure modelling per the rulebooks.
07
Client-money and safeguarding. Architecture documented end to end for the permissions held.
08
AML/CFT framework. KYC, monitoring and goAML reporting with a resident MLRO.
09
Technology and outsourcing. Digital-first systems documentation, resilience and vendor governance.
10
Emirati substance. Offices, residents and operations that survive FSRA supervision, not a plaque.
01
ADGM company, real presence.
02
Base capital by permission.
03
Approved senior executives.
04
Controllers to UBO level.
05
Bank-grade business plan.
06
Prudential models per rulebooks.
07
Client-money architecture.
08
AML with goAML MLRO.
09
Digital-first technology docs.
10
Substance that survives supervision.
Reflects the FSRA rulebooks and its published digital-bank authorisation approach as of 2026.FSRA rulebooks + digital-bank approach, as of 2026.
How it works
From engagement to the FSRA register.
01
Scope and strategy
Digital bank or money-services permissions. We fix the scope, capital and timeline in writing.Bank or permissions - in writing.
02
FSRA engagement
The model presented, expectations framed. The regulator met before the file exists.Expectations framed early.
03
Company, people and file
ADGM incorporation, approved persons and the bank-grade application. Delivering what was framed.Incorporation, approved persons, file.
04
FSRA review
Institutional scrutiny answered - 12-18 months realistic for the bank; months for lighter permissions.12-18 months bank; months lighter.
05
Authorisation and launch
The FSP granted, register entry live, operations running. Common-law banking in the Gulf.FSP granted, operations on.
Quick facts
RegulatorFSRA
Legal systemEnglish common law
FlagshipDigital bank licence
AlongsideMoney services · TPP
PrecedentRegion's first TPP licence
Bank timeline12-18 months
Tax9% · 0% qualifying
Our presenceOwn Dubai office
The FSRA frames expectations face to face and reads files at bank grade. Delivering exactly what was framed is the entire game, and our job.
On the ground in the UAE
Run from our own Dubai office.
Prifinance - UAE
Dubai · Al Saqr Business Tower
33 Level, Al Saqr Business Tower, Dubai
01
ADGM company formation
Incorporation in the centre, the capital plan and the corporate layer the FSRA expects. Structured for the permission from day one.Centre incorporation, structured.
02
The engagement, prepared
The model presentation and file plan built before the FSRA meetings, because the application that follows must deliver what was framed.Framed right - then delivered.
03
The FSRA file
Regulatory business plan, prudential models, AML pack and technology documentation. Drafted at bank grade and defended through the rounds.Bank-grade, defended in rounds.
04
Substance and staffing
Resident senior executives, MLRO and compliance from the Emirates' deep financial talent pool. Assembled from our own office in the city.From our own Dubai office.
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 ADGM financial businesses.
The UAE's fiscal offer on an institutional platform: 9% above the threshold, 0% for qualifying free-zone income, and nothing on people or distributions.
Corporate tax 9%
The federal rate above the small-profit threshold. Among the lowest serious rates anywhere, applying to the licensed entity's income.Above AED 375k.
0% qualifying free-zone income
Qualifying free-zone persons keep 0% on qualifying income. The structuring question of the Emirates, answered before incorporation.Structure decides - modelled first.
No personal income tax
Salaries, bonuses and founder draws carry no personal tax. The executive-relocation maths no onshore centre matches.Relocation maths unmatched.
No withholding
The UAE levies no withholding on dividends, interest or royalties. Distributions leave clean.Distributions leave clean.
VAT 5% - scoped finance
The 5% VAT touches defined supplies; margin-based financial services sit largely exempt. Mapped per product.Margin finance largely exempt.
Treaty network 140+
One of the world's largest treaty networks. Group structures above the ADGM entity model cleanly.World-largest network.
Tax summary
Corporate tax9% · over AED 375k
Qualifying free zone0%
Personal income taxNone
Withholding taxesNone
Standard VAT5% · finance largely exempt
Tax treaties140+
*Figures as of 2026 per the FTA. Qualifying-income status is modelled before incorporation. It decides the structure.
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, authorised institution.
Follow Prifinance
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UAE · ADGM FSRA
Launch your digital banking project in ADGM with expert support.
Full-service assistance - from ADGM incorporation to the FSRA authorisation and ongoing compliance - from our own Dubai office.
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 jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The ADGM digital banking licence - what clients ask.
What is the ADGM digital bank licence?+
The FSRA's dedicated authorisation for digital-first banks - deposit-taking, transactional accounts, SME lending and trade finance without branch legacy - with its authorisation approach published and applications openly welcomed.
What lighter permissions exist for payments?+
Providing money services covers FX, transfers and payment accounts; third-party-provider permissions cover open banking - ADGM granted the region's first TPP licence. Base capital and timelines scale down accordingly.
Why does the common-law point matter?+
ADGM applies English common law through its own courts - security, netting and insolvency work the way global counterparties expect, which is precisely why institutional partners price ADGM entities favourably.
How long does authorisation take?+
Realistically 12-18 months for a digital bank at institutional depth; money-services and TPP permissions run in months. The FSRA's early-engagement model is what keeps timelines tight.
What substance is expected?+
A real ADGM presence: resident senior executives approved individually, an MLRO reporting through goAML, prudential and technology documentation at bank grade - a plaque survives nothing at the FSRA.
How are ADGM businesses taxed?+
9% federal corporate tax above the small-profit threshold, 0% on qualifying free-zone income for the right structures, no personal income tax, no withholding - with 5% VAT scoped away from margin-based finance.
Who already holds FSRA permissions?+
International banks and fintech groups - from global crypto-finance houses to regional expansion plays - hold financial services permissions in ADGM; the register is public and the precedent real.
How does ADGM compare with DIFC?+
Two common-law centres, one country: DIFC anchors Dubai's ecosystem, ADGM pairs its digital-bank framework with Abu Dhabi's capital base. The choice is model-specific - we map it before you commit.
Does an ADGM authorisation passport anywhere?+
No formal passporting - the Gulf works on presence and recognition. ADGM's stamp travels on credibility, and regional groups pair it with EU or Asian licences where those markets matter. We build the pairs.
Why ADGM rather than an EU EMI?+
Different products: the EU sells the passport, ADGM sells bank-grade capability, common law and the Gulf's fiscal logic. Groups banking the region's flows - trade, remittances, treasury - find the digital bank does what an EMI ceiling cannot.
What is it?+
FSRA digital-bank authorisation, common law.
Lighter routes?+
Money services + TPP permissions.
Why common law?+
Counterparties price it - netting works.
How long?+
12-18 months bank; months lighter.
Substance?+
Approved residents, bank-grade docs.
Taxes?+
9% / 0% qualifying; nothing personal.
Precedent?+
Global groups hold FSRA permissions.
Vs DIFC?+
Model-specific - mapped first.
Passport?+
None - credibility travels instead.
Vs EU EMI?+
Bank capability vs passport ceiling.
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
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
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 route 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.