Company service providers (CSPs)
Background to the CSP Framework
ADGM’s Company Service Provider framework (“CSP Framework”) comes into force on 12 April 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 (SPVs) and Foundations structures.
The CSP Framework includes the following features:
- Persons providing or intending to provide company services in or from ADGM must meet the strengthened regulatory requirements set out in the amended ADGM commercial legislation and Rules; and
- Setting up and maintaining a “non-exempt” SPV or foundation in ADGM requires the appointment of an ADGM Company Service Provider to carry out regulatory obligations on behalf of the non-exempt SPV or foundation as prescribed under the ADGM commercial legislation and Rules
What are company services?
“Providing company services” under the Commercial Licensing Regulations 2015 (Controlled Activities) Rules 2021 means providing any one or more of the following services:
- 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
“Registered Office Provider” means the business activity of providing registered office services to any body corporate in ADGM.
CSP Framework contact information
For enquiries email firstname.lastname@example.org