What is an
FSRA licence?
An FSRA licence is an authorisation issued by the Financial Services Regulatory Authority of ADGM (Abu Dhabi Global Market). FSRA is the regulator for ADGM-registered financial firms, with a category framework similar to DFSA but operating under English common law as it stands from time to time. FSRA is particularly active in fund management, family offices, virtual assets and innovation-economy financial services.
What activities does FSRA license?
FSRA licenses financial-services firms across categories analogous to DFSA: dealing in investments, providing custody, managing collective investment funds, managing discretionary assets, advising and arranging, and specialised activities including virtual-asset services and Islamic financial services. ADGM has been particularly active in approving virtual-asset frameworks within FSRA.
Why choose ADGM over DIFC?
Both are credible international financial free zones. Factors that often drive ADGM selection:
- English common law (live) — ADGM applies English common law as it stands at the time, providing the most direct overlap with international counsel.
- Lower base capital for some categories — particularly fund-management.
- Family-office friendly — the ADGM Family Office framework is mature and competitive.
- Sovereign-orbit positioning — proximity to ADIA, Mubadala and the Abu Dhabi sovereign-fund ecosystem.
- Virtual-asset framework — FSRA's VA framework is established and active.
How does FSRA differ from VARA?
FSRA is the financial-services regulator for ADGM in Abu Dhabi. VARA is the virtual-assets regulator for the Emirate of Dubai (excluding DIFC). They are different regulators in different emirates. An ADGM-licensed VA firm is FSRA-regulated; a Dubai-based VA firm outside DIFC is VARA-regulated. The frameworks are similar in scope but distinct in administration.
What is the application pathway?
FSRA application follows three stages similar to DFSA: pre-application engagement, In-Principle Approval (subject to conditions including capital and Fit-and-Proper assessments), and Financial Services Permission (operational authorisation). Total timeline typically 6–10 months.
Need to act on this?
Senior counsel only. No associates. Direct engagement with the partner who will run your matter.
Financial Services Practice →