The company incorporation process on the Clara Platform has been developed by a team with extensive ADGM experience who have designed the process to give you the fastest and cheapest incorporation journey.
The key elements of the Clara Platform are outlined below with the rationale for the approach:
Must incorporate only with individuals as shareholders. Corporate entities can be added post incorporation.
Including corporate shareholders from the outset delays the incorporation process due to the complexity of the KYC requirements for corporate shareholders, mainly where there are multiple layers of companies in the structure.
Incorporating with individual shareholders means you will have your company incorporated significantly faster to get your bank account quickly and be ready to receive investor funds.
Having individual shareholders will save you a considerable amount of upfront time and cost in applying for the bank account for your ADGM entity. When there are corporate shareholders, banks will generally ask for certified documents above and beyond what the Regulator requires. In some jurisdictions, this can add thousands of dollars to the cost and delay the account opening by weeks, if not months.
Model Articles of Association
On our Clara Platform, you will incorporate the ADGM Model Articles of Association. We automate our processes which saves you time in the application process by using the model Articles. This means we don't waste time while waiting for Articles customisation before the Company is incorporated.
It is a cheap and quick process to amend the Articles of Association once the Company is incorporated.
Authorised Share Capital of 10,000,000 shares of USD 0.0001 each and Issued Share Capital of 1,000,000 divided between your initial shareholders.
The Clara Platform pre-sets the new company's Authorised Share Capital at USD 1,000, comprising 10,000,000 shares of USD 0.0001 each. From this Authorised Share Capital, you will issue 1,000,000 shares at the time of incorporation to be split among the initial shareholders.
We have standardised this approach because it gives the new company room for future investment and flexibility with share movement.
Because we have streamlined the incorporation process on the Clara Platform, we have also reduced the cost for our clients. Using our concierge process, the fee is scaled based on the number of shareholders and includes a concierge fee because of the required manual amendments. Users of the Clara Platform can incorporate with 1, 5 or 10 individual shareholders from the outset for the same fixed fee.