ADGM support measures in light of COVID-19

Focused on supporting and protecting our clients and community

service

Support measures for new ADGM entities

on Continuation fee for business continuing into ADGM from a foreign jurisdiction until 31 December 2020

on the incorporation fee for new ADGM companies and limited liability partnerships until 31 December 2020

Support measures for existing ADGM entities

on Commercial Licences renewal fees for operational ADGM registered entities until 25 March 2021

on Business Activities renewal fees for operational ADGM registered entities until 25 March 2021

on Data Protection renewal fees for operational ADGM registered entities until 25 March 2021

of Supervision fees already paid by existing FSRA authorised entities for the year 2020

on any new FSRA Supervision fees to be collected until 31 December 2020

on annual Funds fees already paid by existing FSRA authorised entities for 2020

on annual Fund fees until 31 December 2020

on new Temporary Work Permits issuance, renewal and late application fees until 25 March 2021

ADGM Community

Our community is our priority. We are committed to working with you, our clients and partners, and to supporting you in any way that we can to weather these unprecedented times. We recognise that your health and wellbeing and that of your colleagues and loved ones are of paramount importance.

We also know that access to reliable information on the evolving situation and related UAE Government directives, business continuity measures and meeting financial obligations are some of your key considerations at this time.

Do let us know what more we can do to help.

Dhaher Almheiri, CEO, ADGM Registration Authority

Dhaher Almheiri

Financial Services Regulated Entities

As the financial services regulator in ADGM, we have been working closely with our financial services entities and the wider community to monitor the economic and business impact of the current pandemic. Drawing on our strength as a community, upholding our ethos of close collaboration and maintaining a proactive regulatory approach, we look forward to overcoming this crisis together.

FSRA is steadfast in its collaborative approach and working closely with its financial services entities. In support of our financial services entities, we have introduced a set of relief measures to cushion the impact of the pandemic.

Do let us know of areas that we can work on to support you.

Richard Teng, CEO, ADGM Financial Services Regulatory Authority

Richard Teng, CEO, ADGM Financial Services Regulatory Authority

COVID-19 Related ADGM Circulars and Services Information

ADGM Issued Circulars

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Circular no (4) of 2020
Effective date 11 March 2020

Ban on Serving Shisha

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Circular no (14) of 2020
Effective date 29 March 2020

Maximum proportion of staff working in office

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Circular no (15) of 2020
Effective date 05 April 2020

Temporary suspension of valet parking

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Circular no (16) of 2020
Effective date 05 April 2020

Distance education requirement

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Circular no (19) of 2020
Effective date 27 April 2020

Shopping mall reopening requirements

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RA Guidance for Entities During COVID-19

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The Registration Authority has issued this guidance to assist ADGM licensed persons, their advisors and stakeholders, by outlining the financial and non-financial support measures and initiatives implemented in light of the COVID-19 pandemic.

The guidance also highlights existing arrangements within the RA, and features of ADGM’s commercial legislation, that may be of assistance to licensed persons during the challenges and disruption caused by the pandemic.

The guidance will be reviewed and updated as further information or measures are identified that will assist.

COVID-19 Implications for Data Protection

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Guidance note COVID-19 Implications for Data Protection

Visas and Government Services

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As of Saturday, 14th March the Federal Authority for Identity and Citizenship imposed new rules regarding the entrance of visitors to the UAE. These rules were put in place to safeguard the health and safety of the people and residents of the UAE, due to the recent coronavirus (COVID-19) situation.


As such, no new entry permits are being processed post 17th March, as well as those applicants who had entry permits issued before this date, but are not yet in the country, will not be granted entry.


If you are due to complete your medical screening, please note no appointments will be made available to applicants who have inside the country for less than 14 days.


As of 19th of March, entry has been suspended to the UAE for residence visa holders who are abroad, starting at noon today for two weeks.


Any additional changes to the services will be announced through the ACCESSADGM platform.


Please note that the UAE Ministry of Foreign Affairs & International Cooperation has launched an new service "Twajudi Residents". This service will enable valid UAE Residents visa holders who are currently outside UAE to register their information in this service, which will enable MOFAIC to contact them in order to arrange and coordinate for them to come back to the UAE.
Service can be accessed via the following link:

https://www.mofaic.gov.ae/en/services/twajudi-resident


For any enquiries regarding visa services please email: accessadgm.cases@adgm.com
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Document Collection

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Original Licenses:


In an effort to safeguard the health and safety of our staff and community, we have temporarily suspended the collection of original documentation until May 3rd. All available appointments after this time will be shown on the appointment booking link.



Corporate Services:


Any corporate services requests received through the Online Registry Solution will be processed, however,only electronic copies are available.
For any enquiries or support please email: ors.support@adgm.com.

Visiting the Offices of ADGM

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Please note, we recommend that any nonessential visits to our offices are rescheduled. If you do need to visit the ADGM premises, please note that the entrances on the lower ground (Galleria level) are no longer open.


All visitors must enter the reception areas on the ground floor and follow the safety procedures (temperature check and complete questionnaire) before entering the building.

Employment Regulations FAQs (COVID-19)

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Information on the employment framework in ADGM during the Coronavirus (COVID-19) Crisis

Employment Regulations FAQs (COVID-19)

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Annual Accounts Filing Extension

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In line with ADGM’s support measures due to the COVID-19 pandemic, if your accounts will be late because your company is affected by COVID-19, you may be eligible to apply for a 3 month extension to file your accounts provided that your filing deadline is before 1 January 2021 and your filing deadline has not yet passed.


To apply you must complete the application form below and submit it via email to the Monitoring & Enforcement Team at: monitoring@adgm.com.


If you require further information or clarification regarding applications for extension of accounts filings, please email the RA’s Monitoring & Enforcement Team at: monitoring@adgm.com.


ADGM FAQs

Who is eligible for the support offerings and services?

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All operational ADGM registered entities.

How long are the support measures valid for?

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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?

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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.

Does the 50% fee reduction for financial services entities apply to authorisation fees?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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No, the ADGM Arbitration Centre is not open but the staff are available for any enquiries on enquiry@adgmac.com

The Central Bank of the UAE monitors banks’ utilisation of the Targeted Economic Support Scheme (TESS)

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Economic Substance and COVID-19

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Abu Dhabi Government incentives in light of COVID-19

Ghadan 21

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The Abu Dhabi Government has been swift to respond to the economic challenges caused by the global health pandemic. In March 2020, under the directives of H.H. Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, key measures were announced in efforts to bolster the Abu Dhabi economy, businesses and individuals during this time.

 

The Abu Dhabi Economic Stimulus Package comprises of a series of 16 wide-ranging initiatives to support businesses and individuals across Abu Dhabi. Its key aims are to ensure continuous growth of the economy and preserve economic gains, lower cost of living and provide Financial relief.

The Central Bank of the UAE Targeted Economic Support Scheme

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The Central Bank of the UAE (CBUAE) has announced a comprehensive Targeted Economic Support Scheme (TESS) to contain the repercussions of the pandemic COVID-19. It has also decided on a range of measures to instil confidence and improve the business environment in the UAE.

 

The Targeted Economic Support Scheme caters for retail and corporate customers affected by COVID-19 and is allowing banks to free-up their regulatory capital buffers to boost lending capacity and support the UAE economy.

Stay Informed
Let us keep you updated on the ADGM support measures and ADGM COVID-19 related circulars and services information.
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