This ADGM guidance document clarifies exemptions from the requirement to appoint a Company Service Provider (CSP) as per the Companies Regulations 2020. It outlines specific conditions under which a body corporate, particularly subsidiaries of certain entities, may be exempt. The guidance details the criteria the Registrar uses to assess adequate presence in the UAE for exemption purposes.
Key requirements
- Subsidiaries of entities exempt under the Commercial Licensing Regulations 2015 (Exemptions) Order 2020 are exempt from appointing a CSP.
- Subsidiaries of authorized persons under the Financial Services and Markets Regulations 2015 are exempt from appointing a CSP.
- Subsidiaries of companies with shares admitted to trading on a regulated market in the UAE (including ADGM) are exempt from appointing a CSP.
- A company demonstrating adequate presence in the UAE to the Registrar's satisfaction is exempt from appointing a CSP.
Applies to: Bodies corporate seeking to establish a presence in ADGM and potentially eligible for exemption from the requirement to appoint a Company Service Provider (CSP)