You have reviewed the eligibility requirements and you are ready to proceed with incorporating your ADGM SPV on the Clara Platform. What are the steps and the timeline?
Steps:
Sign up or login: go to our website and login or select "Try for Free" if you don't already have an account.
Select 'Form a Company': start the incorporation flow by selecting "form a company". You will be asked some initial questions to confirm you meet the requirements for an ADGM SPV. Click here to read more on these requirements.
Know Your Client (KYC): you will need to provide the names of the individuals or corporate entities that will be the Directors, Shareholders, Authorised Signatory and Data Protection Contact of the Company. You will then need to provide their KYC which includes personal identification information and documents. Click here for further information on the information and documents required.
Incorporation information: you will need to provide information about the new company being formed, including its name, its purpose and the share split between shareholders. Click here to see the full list of information and documents you will need to have to complete the process.
Payment: when you have completed all questions, the payment link will open. You can pay by credit card or bank transfer.
Review and document preparation: the Clara team will now complete its compliance review. We will reach out if we have any questions, otherwise you will receive a notification when the suite of incorporation documents is ready for your review on the Clara Platform.
Approve and Sign: your approval will start the signature process. The incorporation documents will be sent out via DocuSign to all stakeholders required to sign documents. This includes shareholders, directors, authorised signatories and data protection contact.
Submission to ADGM: We will prepare the incorporation application on the ADGM portal and submit to ADGM for review. ADGM's official review timeline is 10 business days from submission. However, in our experience, applications prepared via the Clara platform are frequently incorporated in half this time.
Incorporation! We will update you once the application has been approved. You will then receive a digital welcome pack with the Company's commercial licence and key constitutional documents. You can also come back into your Clara profile to access these documents at any time.
The timeline to complete all steps largely depends on you having the necessary information and documents to complete the online forms. If speed is the priority, we recommend incorporating with a minimal number of individual shareholders and adding additional stakeholders following incorporation. This will incur additional costs post-incorporation but will make a significant difference to the incorporation timeline.
Be sure to contact Clara if any changes are required once your ADGM holding company has been formed (including changes to the personal details of the shareholders and directors). Otherwise, Clara will contact you before the expiry of the current commercial licence to initiate the renewal process.