Ape Law reference network · UAE legal reference2026 edition
Abu Dhabi Digital Asset LawADGM · Activities · Regulatory sourcesExplore the reference

Operating models

SPV

An SPV is a vehicle chosen for a defined structural purpose.

Reference entryPublished 25 September 2026By Ape Law
Answer in brief

An SPV is a vehicle chosen for a defined structural purpose. It should not be treated as a substitute for analysis of operating permissions or token-holder rights.[1]

01

Understanding the question

Explain what the vehicle holds, who controls it and how it connects to the issuer or operating group. Record governance, financing and contractual obligations. If it becomes more active than originally planned, reassess the structure and activity questions.[1]

02

Build the working record

ConsiderationWhat to establish
PurposeWhat asset or interest is the vehicle intended to hold?
ControlWho makes decisions and under what governance terms?
ConnectionsWhich agreements link it to investors and other entities?
03

Put it into practice

A vehicle holding an asset while another entity markets token interests needs a clear account of the rights connecting those parties.

Useful outputA purpose statement and intercompany relationship map.
04

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][3]

Ape Law’s ADGM licensing practice
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Continue reading

Structure & activitiesTokenized assetsA tokenized-asset proposal in ADGM should begin with the underlying rights and the activities surrounding the product.Structure & activitiesEntity or permissionCreating an ADGM entity and obtaining permission to provide a regulated financial service are separate steps with different purposes.Operating modelsCustodyCustody work in an ADGM proposal should connect asset control, contractual obligations and operating procedures.
REF

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 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 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 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.