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The DIFC enacts the new Prescribed Companies Regulations The new DIFC Prescribed Company Regulations addresses a significant gap in the offerings from the center, where there was no product comparable to the Special Purpose Vehicle regimes that existed in many comparable jurisdictions. The earlier PC regime required a Qualifying Applicant or a Qualifying Purpose, both of which tied in the product to existing DIFC clients.  Under the new regime, Prescribed Companies can be established by qualifying applicants (GCC Persons, DIFC Persons etc.), for a qualifying purpose (aviation, maritime, IP, crowdfunding and structured finance), to hold GCC-registrable assets, or, in case none of these apply, through a DIFC Corporate Service Provider so as to provide the required substance. In essence, this brings a new level of flexibility to the offering – for instance, you can now form a PC if you are from India, to hold an asset in Africa, by appointing a CSP at the DIFC. Since the Prescribed Company cannot have employees, the DIFC has spun off the Qualifying Applicant bit into a different product called Active Enterprises. One can set up Holding Companies, Proprietary Investment Companies and Managing Offices as an Active Enterprise, with visa options, provided that one has a tie-in to the center already. Check the link in the first comment - a definitive guide to the new DIFC Prescribed Companies Regime. Get in touch! #DIFC #DIFCPrescribedCompany DIFC

The Dubai International Financial Centre is ranked among the top 10 onshore financial jurisdictions worldwide. The DIFC issues asset manager licenses, that allow firms to engage in discretionary portfolio management services. 📽️Do watch the Video about Category 3C DIFC Asset Manager License|Wealth & Asset Management| DIFC License Categories - 10 Leaves: https://lnkd.in/gbrQtk6V #10Leaves #DIFC #AssetManagerLicense #Wealth&AssetManagement #Category3C

What is a Luxembourg RAIF? The Reserved Alternative Investment Fund was created following the implementation of the AIFMD. Structurally, it is a combination of the Specialised Investment Fund (SIF) and the Investment Company in Risk Capital (SICAR). However, unlike the SIF and SICAR, the RAIF is not ordinarily supervised by the Luxembourg CSSF. This allows the fund to be launched quickly, since double-supervision is avoided. However, a RAIF would have to appoint a CSSF-regulated Fund Manager (AIFM). The Luxembourg RAIF is very popular in the EU, and there are around 650 RAIF established as of 2020. Can a RAIF be sold to all investors? A Luxembourg RAIF can only be sold to qualified investors, which include institutions and professional investors. In some cases, prospective investors can declare that they a) can invest a minimum of Euro 125,000 or obtain a confirmation from a credit institution, an investment bank or a management company, certifying their expertise, experience and knowledge in sufficiently judging and understanding the implications of an investment made in the RAIF. 🔉Do listen to our Podcast about Reserved Alternate Investment Funds (RAIF) in Luxembour‪g‬: https://lnkd.in/gDgvTSZE #10Leaves #Luxembourg #ReservedAlternate #InvestmentFunds #RAIF

AI has dominated the conversation in 2023. Watch this 10 Leaves video to get more in-depth insights like how to set-up your Own License in Dubai or the heavily subsidized AI license offered by the Dubai International Financial Centre (DIFC) 📽️Do watch the Video about The New DIFC Artificial Intelligence License | DIFC Fintech Hive - 10 Leaves: https://lnkd.in/gTacu9b3 #10Leaves #DIFC #ArtificialIntelligenceLicense #FintechHive

What is a Luxembourg SICAR? The investment company in risk capital (SICAR) is an investment fund structure in Luxembourg. It is governed by the SICAR Law of 2004, and can mainly invest into risk-bearing assets, without the requirement of spreading or diversifying the risk. The SICAR is only open to qualified investors. A Luxembourg SICAR is regulated by the CSSF. Currently there are over 250 SICARs setup in Luxembourg, with over EUR 58 billion of assets under management. What assets can the SICAR invest in? Usually, SICARs invest in unlisted companies, whether in the form of equity or debt. They can also invest in any geography, not just the European Union. Investments into listen companies can also qualify in some instances, for example, when the investment aims to finance a new line of business. There is no requirement for the SICAR to diversify it’s risks. 🔉Do listen to our Podcast about Investment Company in Risk Capital (SICAR) in Luxembour‪g‬: https://lnkd.in/g9jqBuCj #10Leaves #Luxembourg #InvestmentCompany #RiskCapital #SICAR

"Don’t sit down and wait for the opportunities to come. Get up and make them." #10Leaves #MotivationalQuotes #QuoteoftheDay #MondayMotivation

The Abu Dhabi Global Market (ADGM) has been open for business only since October 2015, but it has already garnered much praise and respect over its efforts to differentiate itself through unique offerings. It pioneered the FinTech Abu Dhabi summit, attended by over five hundred global Financial Technology (FinTech) personalities; and has launched a series of collaborations with different companies such as Temenos, Al Ansari, and Mastercard to help forward its FinTech initiative. Another such initiative is the Special Purpose Vehicles (SPV) regime. The SPV regime is open to a wide variety of uses, from investor-friendly holding structures, to asset separation and transfer. 🔉Do listen to our Podcast about Comprehensive Guide to SPVs in the ADG‪M‬: https://lnkd.in/di4U6bWu #10Leaves #ADGM #ComprehensiveGuide #SPVs

DIFC Foundations The Dubai International Financial Centre (DIFC) is a premier financial hub in the Middle East, Africa, and South Asia (MEASA) area and is one of the top 10 worldwide financial centers. With over 5,000 active registered firms and about 40,000 professionals operating within a thriving business ecosystem, the center offers a strong independent judicial system, a global financial exchange, creative architecture, and enabling support services.With nearly 20 years of experience, DIFC has helped to facilitate investment and trade flows throughout MEASA, a region that has a combined population of almost three billion and a nominal GDP of roughly USD 8 trillion. 📽️Do watch the Video about DIFC Foundations Charter - 10 Leaves: https://lnkd.in/dFaz2Mc7 #10Leaves #DIFC #FoundationsCharter

The Middle East in general, and United Arab Emirates and Saudi Arabia in particular, has seen a number of government-led initiatives for technological innovation in recent years. A large untapped market for Arabic-based content, a very young population and excellent technological connectivity makes the region a hotbed for enterprising entrepreneurs who are hungry for success. VC firms from more mature markets also bring much-needed technological expertise and vast experience in funding and management, both of which are required to grow the ecosystem here. Co-investment with locally-based venture capital fund managers also makes sense, given their regional expertise. Deals abound in the innovation centres that have been created, and prices are lower than what would be typically available in say Europe, the States or India. Having a local presence and tying up with VC Fund managers here would help create a deal pipeline that can be interesting. So how does one go about it? VC Fund Managers who are interested to enter the region, can consider the DIFC as a viable option. 🔉Do listen to our Podcast about Opportunities for international VC Fund Managers in the DIF‪C‬: https://lnkd.in/gSRyHxqv #10Leaves #DIFC #Opportunities #InternationalVCFundManagers

Basic corporate governance: At a minimum, corporate governance involves compliance with the rules that are applicable to a Foundation, both externally from the ADGM, and internally (Foundation Charter and By-laws) as well. Well-documented corporate governance processes, coupled with adherence to recommended best-practices, allows for Foundations management to maintain a good relationship with internal and external stakeholders. Senior Management: Minimum number of Founders – 1 Resident Founders – not required Minimum number of Council Members – 2 Resident Council Members – not required Minimum number of Guardians – 1, if no surviving Founder Resident Guardians – not required Resident Authorised Signatory – Mandatory. This has to be UAE-resident, except in cases where the shareholders are from the GCC. Also, for banking purposes. Resident Secretary – while the secretary is not required to be resident, the newly-implemented ADGM Company Service Provider framework now makes it mandatory for all Foundations to appoint a CSP that will carry out (among other things), secretarial services. 📽️Do watch the Video about Corporate Governance for ADGM Foundations | ADGM Foundations Regime - 10 Leaves: https://lnkd.in/gd8kq5P9 #10Leaves #ADGM #CorporateGovernance #ADGMFoundations