Funds Registration with the Securities & Commodities Authority (SCA)
Emirates Wealth will register your Fund with the SCA and handle your registration process from the beginning to the end. We will help your fund to achieve the required regulatory licensing which is needed for your fund to be offered in the UAE and to increase your market distribution chances in the GCC and MENA region.
UAE Fund Regulations
Headquartered in Dubai and with our offices Berlin, Copenhagen, Macau, Sofia and Sydney we offer a multijurisdictional representation and distribution service to you.
- Registered with the SCA
- Distributed by a local promoter such as Emirates Wealth
Annual Legal Representation
As your legal representative we will lease on your behalf with the SCA, constantly update your files such as the offering documents, prospectus, investment policies as well as manage your annual renewals.
The UAE Regulations require that the legal representative of the Foreign Fund Company provides all mechanisms to enable the promoted fund to meet its obligations and duties to its investors. Specific additional requirements are placed upon the legal representatives, including the exercise of due diligence in selecting the promoted fund and post promotion follow-up to safeguard the assets of investors.
Emirates Wealth will act as the legal representative for your fund in dealings with the SCA.
The Registration Process
To register a foreign fund with the SCA, an application must be submitted to the SCA together with the supporting documentation including the fund’s prospectus, KIID and fact sheet. This process will be entirely covered by the Emirates Wealth, no matter if your fund is already active or just in the incorporation stage.
We review all and any additional legal documents to evaluate and increase the chances for an approval. Throughout the whole process Emirates Wealth will be in constant communication with the regulator on your behalf.
Once approved, such registration remains valid until the 31st of December of that year, whereupon it must be renewed with at least one month’s notice and will then remain valid again for another 12 months.
Emirates Wealth will handle all required documents by the SCA.
Prerequisite for registration in the UAE
The regulations dictate basic requirement for a fund to be registered and promoted within the UAE on a public or private placement basis.
To obtain the UAE registration, the fund must be established in a foreign country and subject to the oversight of a regulator similar to the SCA and the fund has to be licensed to make public offering in its home country (exempted funds cannot apply for approval by SCA).