CORPORATE SERVICESTech Startup License In ADGM

Wincore Advisory Group’s structuring team will advise you on the best structuring to establish your Tech Startup License in the ADGM, whilst assisting you in fulfilling all regulatory licensing with ROC (Registrar of Companies), DED (Department of Economic Development), Freezone authority and the Regulatory authorities.

The ADGM Tech Startup License is otherwise referred to as the “ADGM Tech Startup Commercial License” and in the DIFC it is known as “Innovation License”. This category of license offers innovators an opportunity to set up and grow up their innovative businesses, without the high costs, stringent regulations and extensive licensing time-frame.

The Tech Startup License provides a Launchpad for unique exceptional technologies for; technology companies, start-ups and enables entrepreneurs to tap into technological innovations. The ADGM Tech Startup License supports innovation, creativity, and entrepreneurship in the technological space. ADGM’s Tech Startup License enables entrepreneurs to set up in the UAE quickly and easily and they can also apply to the Hub71 Incentive Program which provides up to 100% subsidies on housing, office space and health insurance for up to 25 employees, for up to three years. The license is categorized in two stages; seed and emergent.

For other Financial Licensing in ADGM visit this page for more information.

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Why is the ADGM the top jurisdiction of choice to set up an Tech Startup License?

The ADGM is one of the two Financial Free Zones within the UAE with its own civil and commercial laws. At the heart of the ADGM model is an independent risk-based regulator, the Financial Services Regulatory Authority (FSRA), which grants licenses and regulates the activities of all banking and financial institutions in ADGM. As a financial free zone with an independent jurisdiction, ADGM has three independent authorities:

Financial Services Regulatory Authority (FSRA);
Abu Dhabi Global Market Registration Authority (ADGM RA) and;
ADGM Courts operating under English common law;

These three authorities ensure that ADGM offers a highly professional yet business-friendly environment operating with the best practices and recognized by all the major financial centers across the world.

The ADGM Regulatory regime for Funds has been designed to meet international standards for regulation and, where required, to provide adequate investor protection.

The FSRA has provided a facilitative, business-friendly regulatory framework while remaining compliant with the International Organisation of Securities Commission’s (IOSCO) principles for regulating Funds.

Wincore provides strategic assistance and coordination services on establishing FinTech Firms in the ADGM. Our team of senior-level compliance and legal advisors, combined with sophisticated corporate service expertise, can provide the highest quality advisory and set up services for regulated and unregulated set-ups, at a competitive cost and within an efficient and respected processing timeline.

If you would like to schedule your initial consultation, don’t hesitate to contact our team of advisors today on +971 4 221 2602 or [email protected].

ADGM Tech Startup License

The ADGM Tech Startup License is extremely low-cost (starting at $700) in comparison to the other licenses at the ADGM. Obtaining the ADGM Tech Startup License in Abu Dhabi, grants the entrepreneur(s) access to world-class co-working space and an ecosystem of fellow technology companies and access to the leading venture capital firms in the region.

Eligibility for the incentivised license is determined at the time of application and the duration is fixed. eg if a startup is approved for the seed stage incentivised license, it will have two years in seed-stage and will automatically move into the emergent stage in its third year of operations in ADGM regardless of the number of full-time employees.

Local, regional and international startups can apply for this license; especially those startups with an innovative tech business model that leverages technology as the main platform to solve customer challenges and that provides products and services that meet specific market needs.

Why should you get a ADGM Tech Startup License in Abu Dhabi?

Subsidized license fees (starting at $700, could go on for up to 2 years);
Waivers on incorporation and registration fees;
No minimum share capital required;
Access to world-class co-working space;
Access to an ecosystem of fellow technology companies;
Access to the leading venture capital firms in the region;
Can apply to the Hub71 Incentive Program which provides up to 100% subsidies on housing, office space and health insurance for up to 25 employees, for up to three years;
100% foreign ownership;
0% corporate tax;
0% personal income tax;
5% VAT only;
Access to a tax-efficient transaction structuring;
No restriction on capital repatriation;
No currency restrictions;
No restriction on foreign talent or employees employment;
US$ denominated economic environment;
Responsive Authorities.