# Financial Services Regulatory Authority (FSRA): register, licences and requirements Source page: https://protegra.io/licensing/regulators/fsra-adgm/ The FSRA is the independent financial regulator of Abu Dhabi Global Market, an English common-law financial free zone in the UAE. It licenses and supervises banking, investment, asset management, payment, and virtual asset institutions across Categories 1 through 4. As of September 2026, the FSRA supervises 412 active financial institutions, including 18 licensed virtual asset firms and 9 money services providers. ## How to check a firm on the FSRA register Users search the FSRA Public Register by firm name, FSP permission number, firm type, asset class, or regulated activity. An active entry details the entity's legal name, registered address, permission date, permitted regulated activities, asset endorsements (such as Virtual Assets), stipulations, and approved individuals. [14] - [FSRA Public Register Portal](https://www.adgm.com/public-registers/fsra) [3] - [FSRA Public Register: Firms](https://www.adgm.com/public-registers/fsra/firms) [14] - [FSRA Public Register: Funds](https://www.adgm.com/public-registers/fsra/funds) [15] ## At a glance | Official name | Financial Services Regulatory Authority (سلطة تنظيم الخدمات المالية) | | --- | --- | | Jurisdiction | [Abu Dhabi Global Market (ADGM)](https://protegra.io/licensing/jurisdictions/adgm/) | | Type | Financial free-zone regulator | | Headquarters | Abu Dhabi [1] | | Founded | 2013 [2] | | Website | [adgm.com](https://www.adgm.com/financial-services-regulatory-authority) [1] | | Public register | [Official public register](https://www.adgm.com/public-registers/fsra) [3] | | Licence types in the Atlas | 6 | ## What FSRA supervises The FSRA regulates and supervises financial services institutions within Abu Dhabi Global Market to foster a progressive, robust financial centre that underpins market integrity and financial stability. [1] - Banks, deposit-takers, and credit providers [16] - Investment firms, broker-dealers, and multilateral trading facilities (MTFs) [16] - Asset managers, fund managers, and collective investment funds [17] - Money services businesses, payment service providers, and money transmitters [8] - Virtual asset service providers (VASPs), crypto brokers, custodians, and exchanges [10] - Issuers of Fiat-Referenced Tokens (stablecoins) [9] - Custodians and trust service providers [18] ## Licences FSRA issues - [Bank · Abu Dhabi Global Market (ADGM)Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)](https://protegra.io/licensing/licences/bank/adgm/) - [FM · Abu Dhabi Global Market (ADGM)Financial Services Permission for Managing a Collective Investment Fund (Category 3C)](https://protegra.io/licensing/licences/fund-manager/adgm/) - [IF · Abu Dhabi Global Market (ADGM)Financial Services Permission for Dealing in Investments as Principal (Category 2)](https://protegra.io/licensing/licences/investment-firm/adgm-cat2/) - [IF · Abu Dhabi Global Market (ADGM)Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A)](https://protegra.io/licensing/licences/investment-firm/adgm-cat3a/) - [IF · Abu Dhabi Global Market (ADGM)Financial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4)](https://protegra.io/licensing/licences/investment-firm/adgm-cat4/) - [VASP · Abu Dhabi Global Market (ADGM)Financial Services Permission with Virtual Asset Activities Endorsement](https://protegra.io/licensing/licences/vasp/adgm/) ## Lesser-known services for applicants Available ### Pre-application meeting / pre-assessment FSRA encourages early engagement: applicants contact authorisation@adgm.com and submit a draft Regulatory Business Plan to obtain feedback before the formal application. [4] Available ### Innovation hub ADGM operates the FinTech ecosystem and Digital Lab, providing synthetic testing environments, API integration sandboxes, and regulatory engagement for innovative business models. [5] Available · statutory ### Regulatory sandbox The ADGM RegLab (Regulatory Laboratory) is a tailored regulatory framework allowing innovative fintech firms to test products under restricted FSP conditions for up to 24 months, with an application fee of USD 1,000. [6] **Application portal:** ACCESSADGM / FSRA Connect (access.adgm.com and fsraconnect.adgm.com) [4] **Fee schedule:** FEES Rulebook VER20.010126 outlining application, annual, authorization amendment, and controller fees [7] Compare with other regulators: [pre-application meetings](https://protegra.io/licensing/tools/pre-application/) · [sandboxes and innovation hubs](https://protegra.io/licensing/tools/sandboxes/). ## Statistics _Current licence holders in the official register [14] [14] [14] [14] [14] [14]_ - 412 active financial services firms licensed (FSRA Public Register, 2026-09-24) [14] - 18 active firms licensed with Virtual Asset endorsements (FSRA Public Register, 2026-09-24) [14] - 9 active firms licensed for Providing Money Services (FSRA Public Register, 2026-09-24) [14] - 3 active firms licensed for Issuing Fiat-Referenced Tokens (FSRA Public Register, 2026-09-24) [14] - 158 active fund managers and 105 asset managers licensed (FSRA Public Register, 2026-09-24) [14] - 340 domestic and foreign passported funds registered (FSRA Public Register, 2026-09-24) [15] - 95 Financial Services Permissions granted in 2025, up 22% year-on-year, with 120 In-Principle Approvals issued (FSRA Annual Report 2025, 2026-07-13) [19] ## Fees and timelines | Licence | Fee | Amount | | --- | --- | --- | | Financial Services Permission for Providing Money Services (Category 3C) | application | USD 25,000 [8] | | Financial Services Permission for Providing Money Services (Category 3C) | annual | USD 25,000 [8] | | Financial Services Permission for Issuing a Fiat-Referenced Token (Category 3C) | application | USD 70,000 [9] | | Financial Services Permission for Issuing a Fiat-Referenced Token (Category 3C) | annual | USD 70,000 [9] | | [Financial Services Permission with Virtual Asset Activities Endorsement](https://protegra.io/licensing/licences/vasp/adgm/) | application | USD 20,000 [10] | | [Financial Services Permission with Virtual Asset Activities Endorsement](https://protegra.io/licensing/licences/vasp/adgm/) | annual | USD 15,000 [10] | | [Financial Services Permission for Dealing in Investments as Principal (Category 2)](https://protegra.io/licensing/licences/investment-firm/adgm-cat2/) | application | USD 40,000 [11] | | [Financial Services Permission for Dealing in Investments as Principal (Category 2)](https://protegra.io/licensing/licences/investment-firm/adgm-cat2/) | annual | USD 50,000 [11] | | [Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A)](https://protegra.io/licensing/licences/investment-firm/adgm-cat3a/) | annual | USD 25,000 [11] | | [Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)](https://protegra.io/licensing/licences/bank/adgm/) | application | USD 70,000 [12] | | [Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)](https://protegra.io/licensing/licences/bank/adgm/) | annual | USD 100,000 [12] | | Licence | Statutory deadline | Observed | | --- | --- | --- | | Financial Services Permission for Providing Money Services (Category 3C) | Within a reasonable time from submission of a complete application [13] | not published | | Financial Services Permission for Issuing a Fiat-Referenced Token (Category 3C) | Within a reasonable time from submission of a complete application [13] | not published | | [Financial Services Permission with Virtual Asset Activities Endorsement](https://protegra.io/licensing/licences/vasp/adgm/) | Within a reasonable time from submission of a complete application [13] | not published | | [Financial Services Permission for Managing a Collective Investment Fund (Category 3C)](https://protegra.io/licensing/licences/fund-manager/adgm/) | Within a reasonable time from submission of a complete application [13] | not published | | [Financial Services Permission for Dealing in Investments as Principal (Category 2)](https://protegra.io/licensing/licences/investment-firm/adgm-cat2/) | Within a reasonable time from submission of a complete application [13] | not published | | [Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A)](https://protegra.io/licensing/licences/investment-firm/adgm-cat3a/) | Within a reasonable time from submission of a complete application [13] | not published | | [Financial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4)](https://protegra.io/licensing/licences/investment-firm/adgm-cat4/) | Within a reasonable time from submission of a complete application [13] | not published | | [Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)](https://protegra.io/licensing/licences/bank/adgm/) | Within a reasonable time from submission of a complete application [13] | not published | ## Changing the owner of a licensed firm **Prior approval required.** Under FSMR section 105 and GEN 8.8, prior written approval from the FSRA is required before a person becomes a controller or increases control across 20%, 30%, or 50% thresholds. A controller is defined as holding 10% or more of voting rights or capital, or exercising significant influence. The statutory determination period is 90 days from receipt of a complete notice, accompanied by a USD 1,000 application fee. [20] Buying a company that already holds one of these licences is often faster than applying. See [ready-made licensed companies](https://protegra.io/companies/) · [investment brokerage](https://protegra.io/companies/investment-brokerage/) · [crypto digital assets](https://protegra.io/companies/crypto-digital-assets/). ## Laws FSRA applies - [Financial Services and Markets Regulations 2015](https://protegra.io/licensing/laws/ae-adgm-fsmr-2015/): Financial Services and Markets Regulations 2015 ## Recent and upcoming changes - 2026-09-16: FSRA finalised changes to its Funds Framework following CP 12/2025; Venture Capital Fund Managers and Foreign Fund Managers have a transition period until 31 March 2027. [21] - 2026-07-13: FSRA published its 2025 Annual Report: 95 Financial Services Permissions granted (up 22% year on year) and 120 In-Principle Approvals issued (up 32%). [19] - 2026-01-01: FEES Rulebook VER20.010126 entered into force, updating application and supervision fee schedules for Fiat-Referenced Tokens (stablecoins) at USD 70,000 and Virtual Asset endorsements. [7] ## Contacts and public register Address: 9th Floor, Al Khatem Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE (temporary address while the Authorities Building is refurbished) [22] Website: [adgm.com](https://www.adgm.com/financial-services-regulatory-authority) [1] Check whether a firm is licensed: [official register](https://www.adgm.com/public-registers/fsra) [3] · [official register](https://www.adgm.com/public-registers/fsra/firms) [14] · [official register](https://www.adgm.com/public-registers/fsra/funds) [15]. ## Frequently asked questions ### What is the difference between FSRA ADGM and DFSA or VARA? The FSRA regulates Abu Dhabi Global Market, an offshore financial free zone operating under English common law, covering both traditional finance and virtual assets. In contrast, the DFSA regulates Dubai's DIFC financial free zone, while VARA regulates virtual assets exclusively within onshore Dubai mainland and its commercial free zones. ### What are the FSP categories under FSRA prudential rules? FSRA categorizes regulated firms into Categories 1 to 5 under the PRU Rulebook based on systemic risk. Category 1 covers deposit-taking commercial banks; Category 2 covers principal dealers; Category 3 (split into 3A, 3B, 3C) covers agents, custodians, asset managers, and payment services; Category 4 covers advisory and arranging firms; and Category 5 covers Islamic financial institutions. ### Does FSRA offer a fintech regulatory sandbox? Yes. The FSRA operates the Regulatory Laboratory (RegLab), a statutory sandbox allowing fintech startups and innovators to test new business models under tailored regulatory relief for up to 24 months. RegLab applicants pay a reduced application fee of USD 1,000 while developing compliance capabilities prior to transitioning to a full FSP. ### How does FSRA regulate virtual assets and stablecoins? FSRA regulates virtual asset activities, including exchanges, brokerages, and custodians, via specific endorsements added to standard Category 3 or 4 permissions, alongside a USD 20,000 top-up fee. Issuers of Fiat-Referenced Tokens (stablecoins) are subject to Category 3C authorization with dedicated reserve backing requirements and an application fee of USD 70,000. ### What is the approval process and statutory timeline for an FSRA licence? Authorisation runs in stages: pre-application engagement with a draft Regulatory Business Plan, the formal application, the FSRA's assessment, in-principle approval (IPA), meeting the pre-conditions (incorporation, capital, key staff) and the final Financial Services Permission. The FSRA decides within a reasonable time of a complete application; it does not publish a fixed statutory deadline. ### Can foreign firms own 100% of an FSRA-regulated entity in ADGM? Yes. The FSRA actively permits 100% foreign ownership of regulated financial institutions and general commercial entities in ADGM without requiring a local Emirati partner or sponsor. Firms also benefit from a 0% corporate tax rate on qualifying income, zero personal income tax, and unrestricted capital and profit repatriation. ## Sources 1. [adgm.com: financial services regulatory authority](https://www.adgm.com/financial-services-regulatory-authority): retrieved 2026-09-24 2. [en.adgm.thomsonreuters.com: abu dhabi law no 4 2013](https://en.adgm.thomsonreuters.com/rulebook/abu-dhabi-law-no-4-2013): retrieved 2026-09-24 3. [adgm.com: fsra](https://www.adgm.com/public-registers/fsra): retrieved 2026-09-24 4. [adgm.com: fsra general application process](https://www.adgm.com/financial-services-regulatory-authority/fsra-general-application-process): retrieved 2026-09-24 5. [adgm.com: fintech](https://www.adgm.com/business-areas/fintech): retrieved 2026-09-24 6. [en.adgm.thomsonreuters.com: 22994](https://en.adgm.thomsonreuters.com/entiresection/22994): retrieved 2026-09-24 7. [en.adgm.thomsonreuters.com: fees rulebook fees ver20010126](https://en.adgm.thomsonreuters.com/rulebook/fees-rulebook-fees-ver20010126): retrieved 2026-09-24 8. [en.adgm.thomsonreuters.com: 7558](https://en.adgm.thomsonreuters.com/entiresection/7558): retrieved 2026-09-24 9. 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[en.adgm.thomsonreuters.com: fund rulebook funds ver13160926](https://en.adgm.thomsonreuters.com/rulebook/fund-rulebook-funds-ver13160926): retrieved 2026-09-24 18. [en.adgm.thomsonreuters.com: 7549](https://en.adgm.thomsonreuters.com/entiresection/7549): retrieved 2026-09-24 19. [adgm.com: adgm fsra publishes its 2025 annual report](https://www.adgm.com/media/announcements/adgm-fsra-publishes-its-2025-annual-report): retrieved 2026-09-24 20. [en.adgm.thomsonreuters.com: 7993](https://en.adgm.thomsonreuters.com/entiresection/7993): retrieved 2026-09-24 21. [adgm.com: regulatory update adgm fsra finalises enhancements to its fu](https://www.adgm.com/media/announcements/regulatory-update-adgm-fsra-finalises-enhancements-to-its-funds-framework): retrieved 2026-09-24 22. [adgm.com: contact us](https://www.adgm.com/contact-us): retrieved 2026-09-24 Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.