To incorporate an ADGM SPV, the applicant must be able to establish an appropriate connection with ADGM, otherwise known as 'nexus'. This can be satisfied by meeting one of the following conditions:
The ADGM entity will be owned or controlled by an individual resident in the UAE or GCC. The minimum ownership threshold is 25% and this can be held by one individual or collectively by multiple GCC residents; or
The ADGM entity will hold an asset in the UAE or GCC within 6 months of incorporation. There is no minimum threshold here and includes holding shares in a company registered in the GCC or real estate in the GCC.