Support measures in light of COVID-19
Who is eligible for the support offerings and services?
All operational ADGM registered entities.
How long are the support measures valid for?
All RA support measures are valid until 25 March 2021. This will ensure any entity which have recently renewed can avail these support measures within 12 months. FSRA incentives for financially regulated entities are valid until 31 December 2020.
Do I get a refund if I renewed my commercial licence between 25 and 31 March 2020?
For entities that have renewed their commercial licence between 25 and 31 March 2020, the RA will be in contact to arrange a refund of the associated fees.
No, only supervision fees are reduced.
Who is eligible for the 50% reduction in supervision fees in terms of financial services entities regulated by FSRA?
All financial services entities regulated by FSRA will be entitled. For entities that have paid their supervision fees for year 2020, 50% of supervision fees will be refunded. For entities that have not paid their supervision fees for year 2020, their supervision fees payable will automatically be reduced by 50%.
How do financial services entities that have paid their supervision fees for year 2020 get a refund?
FSRA will be communicating with the financial services entities on the process for the refund.
Will the annual funds fees already paid for 2020 be refunded?
Yes, annual fund fees paid for 2020 will be refunded. FSRA will be communicating with the funds that have paid fees to arrange the refund.
How will my temporary licence be impacted?
The RA are aware that many entities which had temporary licences issued will be unable operate. As such, we will pause the current period of Temporary Licence until such time that restrictions are lifted and adjust the expiry dates accordingly.
What support measures are being introduced to alleviate rent costs?
There will be a deferment of rental payments and service charges for office tenants at ADGM Square for 2020. AlSowah Square Properties, the landlord of ADGM Square, will continue working closely with all tenants to provide support during this time. Please address your queries directly to Serco, the property managers of ADGM Square, on asp.management@serco.ae.
Are all ADGM services available?
ADGM services are digital by default and available to existing and new clients. There have been a number of changes to processes put in place to safeguard the health and safety of the community. Please refer to the guidance notes section above for more detailed info on services particularly visa and government services as well as document collection.
Are ADGM Courts currently open for business?
Yes, ADGM Courts are fully operational and all of their business is conducted through their unique eCourts platform: https://adgmcourts.com.
The ADGM Courts Registrar is contactable for urgent matters on registry@adgmcourts.com.
Is the ADGM Courts notary public office currently open for business?
No, ADGM Courts public notary service is closed. However, Abu Dhabi Judicial Department (ADJD) is open for notary services. If you need any assistance with contacting ADJD, you can email ADGM Courts public notary staff on notarypublic@adgmcourts.com.
Is the ADGM Arbitration Centre open for business?
No, the ADGM Arbitration Centre is not open but the staff are available for any enquiries on enquiry@adgmac.com.
