Alpha Management Limited has been granted a license by the ADGM Registration Authority to conduct “Company Service Provider” activities in line with the recently introduced ADGM Company Service Provider framework (“CSP Framework”), which became operational on 12th July 2021.
The CSP Framework is designed to ensure a robust regulatory regime for company service providers in ADGM that is in line with international best practices and address the challenges and risks associated with the increasing growth of Special Purpose Vehicles (SPV’s) and Foundation structures.
This means that Alpha Management is currently one of the few CSP’s able to provide the following services for non-exempt SPV’s and Foundations in ADGM:
- acting as an incorporation agent in connection with the incorporation or registration of ADGM body corporates;
- providing company services to any body corporate incorporated or registered under the Companies Regulations 2020 or the Foundations Regulations 2017;
- acting as a Registered Office Provider;
- providing directors, secretaries, councillors, registered agent, or other officers to any body corporate in ADGM; or
- providing nominee shareholders of companies to any body corporate in ADGM.
ADGM SPV and Foundation structures have proved incredibly popular in recent years.
SPV’s are typically private corporate vehicles established for passive holding and investment in UAE and the region, and to isolate financial and legal risks by ring fencing assets and liabilities.
Foundations, like trusts, are used for a variety of purposes including wealth management, family wealth preservation, succession and tax planning, asset protection, corporate structuring, and for public interest foundations (excluding charities) across generations.
Both structures can use the Company Service Provider’s address as their own registered address, further reducing costs and offering clients the opportunity of using a local structure within a regulated Tier 1 Financial Centre in UAE, instead of having to rely on vehicles from outside the region.
Please contact us if you would like more information on what this new CSP Framework means, or if you are interested in any of our services relating to corporate administration in ADGM.