Representative Office –Representative Offices are usually the most cost-effective The major difference with representative offices is that their business activities are limited to promoting and sourcing work for the parent company. Representative Offices are not allowed to make a profit in the UAE and must outsource all work back to the parent company.
Branch Company –
The parent company remains its sole owner. As such, there is no share capital required to open a branch office. The branch company also uses the parent’s articles of incorporation.
The ADGM Free Zone has three independent authorities:
Wincore provides strategic assistance and coordination services on establishing regulated and non-regulated company formation in ADGM.
Our team of senior level compliance and legal advisors, combined with sophisticated corporate service expertise, we can provide the highest quality advisory and set up services for regulated and unregulated set-ups, at competitive cost and within an efficient and respected processing timeline. The key to the success of a timely ADGM company setup, is the professional drafting of the compliance and business plans within the General Information for Regulated Activities (GIRA), application for financial services permission, presented to the regulatory and /or registrar authorities.
In parallel to the company set-up and in view to satisfy the In-Principle approval of the Regulatory authority, through its strategic partnerships, Wincore is able to provide a full range of services:
1. Application stating the requested regulated activity (ies) and related category of license must be submitted to the respective regulatory authority which will consider the suitability of the applicant:
2. Presentation to the authorization team and regulators, during an introductory meeting, of the draft regulatory business plan.
3. Compliance review of the application documents and Submission of the full application with its regulatory business plan upon the acceptation of the draft regulatory business plan.
4. All regulatory requirements attached to the requested category of license must be met before the incorporation is granted.
5. Issuance of an In-Principal Approval letter by the Regulator to the applicant upon satisfactorily completion of their senior management’s due diligence and essential points of the application.Incorporation of the entity upon fulfilling the incorporation requirements of the Registration Authority.
6. Grant of financial services permission upon all conditions of the In-Principal Approval are met.