DIFC Money Services Business



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We are a bespoke digital consultancy based out of the ADGM and the DIFC.


Consultancy | Compliance | Legal Fintech

Team

16+ years of regulatory experience in the DIFC | 6 years in the ADGM | 10+ years in Luxembourg

Qualifications - Master of Laws | Bachelor of Laws | CAMS | ACAMS | M.B.A. | CISI

Experience

Banking | Funds structuring & Compliance | Training

Authorisations

Multiple Cat 2, 3 & 4 Authorisations | Hedge Funds | Quant Funds | VC Funds

Three Crowdfunding Platforms | Two Robo-Advisory Licenses | Four Money Service Business Licenses | Three ITL Licenses

Retail Endorsement | Islamic Window Endorsement

Fintech capabilities

Digital Assets Framework | Robo-advisory models | Payments

Neo-banking models | Tokenisation | Open Banking |

Crypto | Crowdfunding


DFSA Categorisation of firms

The Base Capital for the Stored Value activity is US$ 500,000



Base Capital

The minimum capital that a firm has to put in

Expense-based Capital

Calculated as a percentage of the annual projected expenditure of the firm.

Risk-based Capital

Calculated based on the various risks that the firm is exposed to.

Transaction-based Capital

Calculated based on the projected volume of transactions

The Authorisation Process

8-10 months


Fit and Proper test for Authorisations

  • Operational, financial and regulatory track record of the firm and it's shareholders
  • Fitness and Propreity of senior management and key appointment holders
  • Resources, systems and controls of the firm to ensure proper governance and compliance with all applicable rules and regulations



MANDATORY APPOINTMENTS

SEO

Finance Officer*

COMPLIANCE & MLRO*

Risk Officer*


*These positions can be outsourced to us under limited circumstances.

Hear it on Spotify!

Our podcast on Money Services licenses in the DIFC.

SERVICES

We aim to provide holistic services to firms keen on establishing a presence in the financial centers of the UAE. From regulatory authorisations to legal documentation, we assist our clients on all aspects of their application. Our post-incorporation services include employee relocation and processing of residential and work permits, accounting services, and corporate secretarial work.


Pre-Authorisation: Assistance in authorisations | Documentation and Manuals | Corporate Governance Frameworks | IRAP, ICAAP | Compliance | Legal Structuring

Post-Authorisation: Corporate Secretarial | Visas | Prudential Consulting | Internal Audit

Setting up a regulated firm in the region is a detailed, yet elaborate process. We help you decide on the financial center, and then assist you throughout the authorisation process, including complete documentation and guidance. Our relationship continues even after your firm is established, through value-added post incorporation advice and service.


Designing corporate structures | Incorporation & Licensing | Government Services | Corporate Registered Agent Services | Legacy Planning

We consult on DIFC and ADGM non-financial and retail licenses. Our services include designing the corporate structure, holding companies, SPVs, foundations and family offices for a wide range of requirements. Our clients use these structures for enhanced tax efficiencies, robust corporate governance, stock-option plans, startup VC-friendly structures and legacy planning.


Fund Documentation | Agreements | Corporate Documents | Startup-related

We focus on niche areas in financial services and investments. We have proven capabilities in complete fund documentation and creating the legal docket for startups that seek funding. We also help with corporate documentation required to establish new ventures.


Accounting | Regulatory Reporting | IRAP & ICAAP | Outsourcing

We assist with pre and post-authorisation requirements. The DFSA and FSRA mandate the appointment of a Chief Finance Officer, and this position can be outsourced in certain circumstances. We help create financial models for firms under authorisation,and satisfy IRAP and ICAAP documentation requirements.


Compliance Outsourcing | Compliance Audits | Risk | Training | Statutory Compliances

The DFSA and FSRA focus on compliance as being a key area of consideration during the process of evaluating an application for financial services. The regulators mandate the appointment of a UAE-resident Compliance Officer (CO) and a Money Laundering Reporting Officer (MLRO), and the creation of a robust compliance department at the firm.We assist clients in regulatory and statutory compliances.


Tech Startups | Fintech licensing | Money Services Businesses | Crowdfunding

A nascent, but fast-growing area of interest, Fintech is the focus of multiple initiatives at the DIFC and the ADGM. We advise on tech startup licenses, regulated and non-regulated fintech, and assist you through the process of getting authorised and transitioning from a sandboxed environment, to full regulation. We also consult on establishing money services businesses at the DIFC and the ADGM.


10 Technologies

We bring you value-added services for Money Service Business Licenses

BIN Sponsorships

Payment Cards

IBAN Issuance

Program Management


OUR PROFILE



MEET THE TEAM



Rohit’s background in business consultancy was key in his founding of 10 Leaves Limited, a niche consultancy with a focus on regulatory and fintech authorisations in the DIFC and the ADGM. He spun off three verticals from this business, including 10 Zone, a business consultancy that provides turnkey solutions to individuals and businesses seeking to setup a base in the UAE, tenl.io, a fintech-based venture that specialises in payments, robo-advisory and blockchain-related technologies, and Legability, a legal consultancy that specialises in corporate commercial work in the UAE, Luxembourg and Mauritius, including investment fund structuring and documentation.

Rohit has consulted on market entry strategies, management and fund structures in multiple jurisdictions worldwide, including onshore in the United Arab Emirates, free zones and offshore centres like the Cayman Islands and Mauritius. He has also consulted on establishing onshore regulated structures in the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM), including credit provider, asset management, private banking, fund management, brokerage, payment solution providers, crowdfunding platforms, robo-advisory and investment advisor licenses.

Being an entrepreneur and investor himself, Rohit consults startups in the technology sector and acts as a director and mentor for early-stage entities.

His areas of professional expertise include:

  • Fintech
  • Blockchain and crypto-related structuring and consulting
  • Defi and DApps
  • Tokenisation
  • Strategy 

  • Fund structuring
  • Venture Capital
  • Business consultancy 

  • Business Operations & Management 

  • Market Entry Strategies 

  • Digital Transformation 


Rohit holds a Master in Business Administration degree and graduated as a Bachelor in Engineering.

Bishr is a Partner at 10 Leaves and leads the funds and corporate commercial practice at 10 Leaves Legability.


Prior to this, Bishr established and headed the MENA office of the leading Luxembourg law firm, Arendt & Medernach for around 10 years. In this capacity he advised leading financial institutions, sovereign wealth funds, asset managers, MNCs and family offices in both Europe and the Middle East on all issues relating to the structuring of international transactions and the setting-up of regulated or unregulated investment structures. Bishr also specialises in finance-related matters, in particular structured finance, securitisations, asset finance, Islamic finance, as well as in private wealth.


Bishr has been recognised by MENA Fund Manager Magazine for six consecutive years as amongst the thirty most influential individuals providing services to the MENA funds industry and by Islamica500 for three consecutive times as amongst the fifty leading individuals in the Islamic economy.


He is a regular author on finance in various journals and other specialised publications and is regularly invited to speak on fund-related topics at conferences in Europe, the MENA region and Asia.


Before joining Arendt & Medernach in Luxembourg and establishing its Dubai Office in 2008, he worked for several years within the legal department of a leading research institution funded by the Federal Government of Germany.


Bishr holds a master’s degree in law from the University of Cologne (Germany), as well as a Master of Laws (LL.M.) in International Economic Law from the University of Warwick (UK).


He speaks English, German, French, Arabic, and Spanish.


Sachin Auchoybur

Partner - Mauritius

Sachin is a Barrister at Law and Legal Consultant, with over 20 years of experience in Common Law and Mauritian law. He has advised clients both domestically and internationally, on Commercial Law and taxation, with a focus on structuring of investment funds. Sachin holds a Bachelor of Law degree from the University of Buckingham, and is a member of the Bar of England and Wales and the Mauritius Bar Association. 

Santanu Ghosh

Partner - UAE & India

Santanu brings to the table over twenty years of experience in international corporate documentation & litigation both as an in-house Counsel and as a practicing lawyer in Banking & Finance, Commercial contracts, Manufacturing & Infrastructure, Civil/Commercial disputes, Criminal law and Corporate Legal documentation for Incorporation of companies/new startups in UAE & India. He is also an expert in matters related to DIFC-LCIA, ICC Anti-corruption Tribunal, Dubai International Arbitration Centre and has handled civil claims before DIFC courts as well as supported the litigation team in civil/commercial matters before local courts in the UAE. 


Soumen Ghosh

Partner - Technology

Soumen is a Master of Computer Applications, and has over 20 years of experience in media and technology applications. He has consulted international organisations on technology transformation and helped implement holistic media solutions across India and the United Arab Emirates. Soumen now consults on fintech applications in money services, robo-advisory and blockchain-related solutions. He is an active NFT creator, with profiles on OpenSea and Mintable.


Ali Awais

Partner - United States and SE Asia

Ali has over 20 years of experience in providing governments, sponsors and financial institutions strategic advice on cross border investments, including Public Private Partnerships structures, legislative, and policy reforms. He graduated Master of Law in George Washington University, School of Law, Washington, D.C.


Ram Narayan

Director - Finance & Risk

Ram is a seasoned professional with over three decades of experience in Investment Banking, Risk Management, Capital Structuring, Corporate Finance Advisory and Business Analysis. He has previously worked as a CEO and CFO with various regulated and non-regulated enterprises in his long career. Ram has a Ph.D in International Finance and a rankholder MBA (Hons) from the University of Madras, India.

Narayanan Sambasivan

Senior Advisor

Narayanan is a senior legal and compliance professional with over 20 years of experience in handling global regulatory compliance, regulatory audits and remediations, risk management, training and corporate governance. He has previously worked with international players such as the Amicorp Group, Credit Suisse, and HSBC, besides assignments from the Government of India. Narayanan has a Bachelor degree in Law and numerous certifications in the Compliance field.



Raghunathan

Director - Finance

Raghunathan is a experienced professional with over three decades of experience in Financial Management, Risk Management, Capital Structuring, Corporate Finance Advisory and Business Analysis. He has previously worked as CFO with various regulated and non regulated enterprises in his career. Raghunathan is a Bachelor of Commerce and a Chartered accountant from Mumbai, India and is also qualified in Governance ,Risk and Compliance.

Meena Iyer

Director - Finance

Meena is a seasoned professional with close to three decades of experience in Financial management , supervising M&A deals , management consulting , finance and accounting supervision and monitoring ,Risk Management, Capital Structuring, Corporate Finance Advisory and Business Analysis. She has previously worked in senior finance positions and with various regulated and non-regulated enterprises in her long career. Meena is a Bachelor of Commerce and a Chartered Accountant and gold medal holder with 42nd rank in CA certification.



Ravi Ramanani

Head of Operations

Ravi has had more than nine years’ experience in the UAE as a business consultant professional, with a specialisation in DIFC and ADGM non-regulated formatons.He has also helped clients incorporate companies in and around the mainland, offshore, and the numerous free zones, and has also worked with UAE government departments for the incorporation of companies and other legal matters.

Balbeer Singh Bhatia

Compliance Officer and MLRO

A competent professional having more than 5 years of experience, specialising in Financial Crime Compliance (FCC)– Anti Money Laundering (AML) & Counter Terrorist Financing (CTF). In the course of his long career, he has served as an MLRO for a number of regulated and unregulated organisations. Balbeer is a postgraduate who also holds international credentials such as Certified Anti Money Laundering Specialist, ACCA DipIFRS, and Certified Management Accountant.




Manoj Agadi

Director - SEO & Digital Marketing

Manoj is a professional with over eight years of experience in Search Engine Optimisation and Digital Marketing strategies. His other interests include Equity Investing, Portfolio Management, Risk Management, Index Construction of Equities. Manoj has a M.tech in V.L.S.I Design Specialization from the University of S.R.M (Chennai), India.

Joan Javier

Senior Consultant

Jam has more than ten years experience in teaching communications, language and creative writing in the Philippines. She had been working in the UAE for more than four years handling administrative roles, community management and company formation with specialisation in ADGM and DIFC non-regulated formations.



Alakananda Roy Kar

Executive - Compliance Services

A professional with over 2 years experience in Compliance, Risk Management, MIS and Digital Marketing. She has previously worked as MIS analyst and software developer. Alakananda has a MTech in V.L.S.I Design Specialization from the University of S.R.M (Chennai), India. She is currently pursuing her ACAMS.


Apurva R.

Executive - Human Resources

A professional with over 2 years of experience in Digital Marketing, Social Media Management, and HR Skills. She has previously worked as HR Professional. Apurva has a B Com Degree From BNM Degree College and Bengaluru India and a Diploma in Human Resource Management.



Ramziya Mustafa

Executive - Secretarial Services

Ramziya is an associate professional with over 4 years of experience in Corporate Law, Business Law, Company Secretarial Services, Corporate Governance, and Incorporation of various entities. She has also previously held the role of Company Secretary in different companies. Ramziya is currently pursuing her Master in Business Law from National Law College, India. She is also an associate member of ICSI, and the top scorer for BCOM (Hons) from Jain University, India.

Lourdes Bianca Nucum

Executive - Administrative Services

Bianca has experience in assisting managerial positions and performing administrative tasks in Philippines and the UAE. She currently works in the Corporate Team and assists ADGM clients with their renewals and other administrative duties. Bianca graduated from San Beda University - Manila, Philippines with a Bachelor's Degree of Science Major in Psychology.



What our clients say about us...

"10 Leaves has been key in having BAYTUKI Tech Ltd. become a regulated entity by the Dubai Financial Services Authority.

10 Leaves has been providing us with constant support by way of their dedicated and qualified team. They’ve also been prompt with their responses and have been flexible to accommodate our needs.

The team has been supportive in our initiative, they understand our vision and mission which has created synergy and an efficient work dynamic."

Latifa Bin Haider

Director - Baytuki Tech Ltd. (DIFC Property Crowdfunding Platform)

"A professional company with passionate individuals with relevant industry experience, working diligently to satisfy client expectations by rendering services at very competitive pricing. 10 Leaves goes an extra mile to make things happen for its clients."

Sanjeev Chowdhury
Director and SEO - Secura International Ltd. (ADGM Investment Advisor)

“I would like to take this opportunity to thank you for your support to obtain the DFSA license. 10 Leaves provides the all of the services that a new company coming to DIFC needs, at an affordable price. I believe the insights and suggestion you provided were very valuable and saved a lot of time and effort, which obviously comes from deep experience and close relationships with the regulators. I still trust your opinion on all matters that relates to DIFC even after we finished most of the work.”

Mohammad Alghaith
Alarabi Investments Limited (DIFC VC Fund Manager)


10 Leaves is exactly the kind of business partner you need for pre- and post-incorporation services in such a regulated environment like in DIFC (UAE). 10 Leaves provides excellent results by experienced professionals with reliable outcomes. I highly appreciate the professional long-term collaboration with 10 Leaves and I recommend 10 Leaves without hesitation to all our partners and clients.

Eva Gattnar

Director - Pontinova Invest (DIFC VC Fund Manager)

Brokerage Licenses are one of the toughest to obtain, worldwide. Our application in the DIFC was handled by 10 Leaves, in the most professional manner. They made it easier that I thought it would be!

We recommend them for not just the application process, but also for their value services. We hope to have a long association!

DIFC- based Category 3A Brokerage

"10 Leaves have been instrumental in delivery an end-to-end solution for setting up and following on all regulatory processes with the dfsa, and continue to support on various critical support functions after securing the license. They are reliable and dependable"

Elie Haddad
Director and SEO - Triple Helix Capital (DIFC VC Fund Manager)

“10 Leaves has been of immense help in our journey towards authorisation. Their in-depth knowledge and continual feedback not only got us through the process, but continues to assist us to stay compliant. I recommend the firm to anyone who wishes to have quality advice backed by excellent execution!”

Egor Romanyuk
Maverick Capital Limited (DIFC Fund Manager)


"Your team was with us all the way, and we have this license due to your expert guidance and effort. Thank you for helping us through the process and for the continued support."

Edwin Lee
Director and SEO - NeoVision Ventures (DIFC VC Fund Manager)

“Thank you for your extended support and advice. It was a pleasure interacting with you and your team. You helped us beyond your normal scope of work, and this is appreciated!"

Mohammed Shaikh
Director & SEO - Lucrum Global Advisors (DIFC Investment Advisor)


"Thank you for all your help and support in making this happen!"

Zohaib Patel
Director and SEO - Tenami Capital (DIFC VC Fund Manager)

“The guidance provided by your team was instrumental in us getting this license. Thank you!"

Mo Fakhro
Director - MBA Fakhro Investments (DIFC VC Fund Manager)


"Got to meet the team during one of my trips to the UAE - they are well-versed in both ADGM and DIFC setup and helped me decide on setting up in Dubai. From there, the actual process was quick and very efficient."

Fahad Albader
CEO at NEO Mena Technologies Limited

"Working with 10 Leaves couldn't be much better, working closely day to day to make sure everything is done properly and on time and truly they have on of the most amazing client success experience, I advice everyone who wishes to set up an offsite entity in UAE to choose 10Leaves without even thinking. They are the best at their work."

Yousef AlHusaini
CEO-BAIMS (GCC Startup)


"We thank 10 Leaves for having assisted us in our pursuit to be licensed by the DFSA. The prompt responses and guidance-based approach was very helpful and for this we express our sincere appreciation - Thank you"

Vickneswaran Gowribalan
Co-founder & Director at Grip (DIFC) Ltd.

"I hope we are not done for a while, that being said I thank you for your help and commitment, you have made a complex issue easy to handle. I much appreciate working with you."

Mazen Fardan
Emirati Serial Entrepreneur


"We developed a great partnership with 10 Leaves Limited and their dedication to our Start-Up has been demonstrated in every aspect of our relationship. Their expertise has been extremely helpful and has made everything so much easier and efficient. They have proven themselves to be a  trustworthy partner and one that is just as excited and passionate about our vision and ideas. We strongly recommend their services which will surely escalate the launch and the success of your Start-Up!"

Ivanka Tancheva
Founder and CEO (the PICKY app)

"10 Leaves is truly customer oriented and not a cliche. During a tough year like 2020, they checked on their customers, gave advice, and facilitated all actions needed to stay compliant and up to date. Their support, engagement, and full fee transparency is what I want in my law firm, going strong with them now for the 4th year, thank you!"

Fareed Qaddoura
CEO-525k Holdings (International Startup)


"It's not about the affordable cost of services provided by 10 Leaves, which made them use thier service but it's the subject matter expertiese and in-depth knowledge of ADGM and its process that impressed us. They ate our go to advisors for any doubts we have regarding regulation, formation and administration."

Satish Jeyakumar
Veehive Holding Ltd

"10 Leaves made the application process quite simple for us and was available when needed. We were able to focus on our work while 10 Leaves handled everything from the start till end. Thanks guys!"

Nuha Hashem
Zywa Technologies LTD


Professional, Efficient, and Experienced!

The team at 10leaves seamlessly delivered a bespoke structure tailored to my needs. 

I highly recommend their services!


Fahad Albaghli

CEO 

The Wish List 


As a startup in Saudi Arabia, we knew setting up our company in ADGM would have significant benefits. However, the legal process seemed daunting, until we spoke with 10 Leaves. Working with their friendly, professional team has saved us considerable time and financial resources. They always provide quick, clear communication at every step to make each process smooth and easy. I highly recommend 10 Leaves to any company, and I look forward to continuing to work with them.

Joel Huffman, CEO and Co-Founder, Arabius


I came to know about 10 Leaves through Founder Institute, I was a little bit skeptical about their service initially but they proved me wrong by having a seamless service, well informed about the process, timelines etc.. Overall 10 Leaves did a good job and I strongly recommend using their services.

Lurdh R. Allam, CEO and Co-Founder, Art Smiley


We really appreciate the guidance & support that we have got from you in the entire process of establishing S-Cube.

This is an important milestone in realization of our business...

For all the support, the responses, the feedbacks, the back and forth, 10 Leaves was truly intrumental. Our heartful thanks to the entire team.

Looking forward to more collaboration and work in future to make it even better!

Muhammad Owais and Saqib Bari, Co-Founders, S-Cube

Thank you!


For further inquiries:

connect@10leaves.ae
+971 4 277 8349
www.10leaves.ae

DIFC Gate Village 10, Floor 7, Dubai International Financial Centre, Dubai, United Arab Emirates

DIFC Innovation Hub, Gate Avenue 1, Dubai, United Arab Emirates

Floor 14, Al Khatem Tower, Abu Dhabi Global Market, Abu Dhabi, United Arab Emirates