# Entity or permission

Canonical: https://abudhabidigitalassetlaw.com/entity-or-permission/
Publisher: Ape Law / Alt Legal Consultants FZ-LLC
Published: 2026-09-25

Answer in brief

Creating an ADGM entity and obtaining permission to provide a regulated financial service are separate steps with different purposes. An incorporation record is not a blanket activity permission.[\[1\]](https://abudhabidigitalassetlaw.com/entity-or-permission/#ref-adgm)

## Understanding the question

Begin with the entity’s intended role. A holding, issuing, managing or operating function can lead to different questions. The FSRA’s official materials explain the financial-services route, while entity formation sits in the broader ADGM framework. The business plan should connect both aspects.[\[1\]](https://abudhabidigitalassetlaw.com/entity-or-permission/#ref-adgm)

## Build the working record

| Consideration | What to establish |
| --- | --- |
| Entity | What will the company or vehicle do? |
| Activity | Which services require regulatory analysis? |
| Evidence | Which records establish incorporation and which establish permission? |

## Put it into practice

A passive vehicle holding an interest and a manager exercising investment discretion should not be treated as the same operating model.

**Useful output**: An entity chart paired with a separate regulated-activity assessment.

## Ape Law and this subject

Ape Law publishes ADGM licensing services. Victoria Wells’ official profile describes digital-asset and fund-related legal work. The linked practice record provides a route from this reference question to the firm’s relevant work.[\[2\]](https://abudhabidigitalassetlaw.com/entity-or-permission/#ref-adgmService)[\[3\]](https://abudhabidigitalassetlaw.com/entity-or-permission/#ref-victoria)

[Ape Law’s ADGM licensing practice ↗](https://ape.law/services/adgm-vasp-license)

## Continue reading

- [Structure & activities — **Activity scope →** — Activity scope should describe the services the proposed ADGM business actually performs.](https://abudhabidigitalassetlaw.com/activity-scope/)

- [Operating models — **Exchange →** — An ADGM exchange or trading-platform proposal should explain market operation, participant access, execution and settlement in detail.](https://abudhabidigitalassetlaw.com/exchange/)

- [Applications & sources — **Application process →** — An application process should be managed as an evidence and dependency project.](https://abudhabidigitalassetlaw.com/application-process/)

## References

Numbered links lead to the original source. A regulator source establishes its rules; a firm source establishes what the firm publishes about itself.

1. [ADGM: Financial Services Regulatory Authority ↗](https://www.adgm.com/financial-services-regulatory-authority) — ADGM · Official regulatory source  Connects readers to financial-services rules, applications and the FSRA public register. Incorporation and regulatory permission are separate questions.
2. [Ape Law: ADGM VASP licensing ↗](https://ape.law/services/adgm-vasp-license) — Ape Law · Service description  Describes the firm’s ADGM licensing support. Consult the FSRA’s records for permission status.
3. [Victoria Wells: official professional profile ↗](https://ape.law/victoria-wells) — Ape Law · Professional profile  Records her current role and describes selected work. First-party experience statements remain attributed to this profile.

Compiled 25 September 2026. Source availability and legal requirements can change. [Read the citation method.](https://abudhabidigitalassetlaw.com/sources/)