UAE’s leading fund managers implement passporting regime for domestic funds

The legislation for implementing a “passporting” scheme to facilitate UAE-wide promotion of domestic funds has come into place. The legislation enactment was announced by the three UAE securities regulators: The Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) of the Dubai International Financial Centre (DIFC), and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM)

The passporting regime helps investors easily and efficiently access growth opportunities across the country. It is in line with the UAE’s economic diversification strategy; it will help attract FDA and new investors and institutions to support economic growth.

It does not apply to foreign funds, which will remain subject to applicable rules as per the jurisdiction they are promoted in. This could play a role in having foreign investors set up in the country, giving them more access to invest their funds.

Read more about this new regime here.