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Scope
C 7/2020 Effective from 14/11/2020This Regulation shall apply to crowdfunding companies, wherever their platforms hosted, engaging in LCAs in the UAE, except in the Financial Free Zones.
A company is considered to be engaging in LCAs in the UAE if it meets one of the following conditions:
- If the company carrying out LCAs is incorporated in, or the crowdfunding platform is hosted in the UAE; or
- The crowdfunding platform uses a company’s address situated in the UAE for correspondence; or
- It provides LCAs to clients residing in the UAE.