A Special Purpose Vehicle is a passive company incorporated with the ADGM Registration Authority for one job: to hold something. Shares in an operating business, real estate, intellectual property, aircraft, vessels or investment portfolios. It does not trade, it does not employ staff, and it does not carry a visa quota — which is precisely why it is cheap to run and fast to incorporate.
ADGM operates its own common-law jurisdiction, with English common law applied directly and its own courts to enforce it. For a holding structure, that matters more than any fee. Shareholder agreements, security arrangements and share pledges written under common law are understood by international banks, funds and counterparties without translation or explanation.
An SPV can be wholly foreign-owned, held by individuals or by corporate shareholders, and placed above operating companies inside or outside the UAE. Non-exempt SPVs incorporated on or after 12 July 2021 must appoint a licensed Corporate Services Provider to act as registered office and registered agent — a permanent relationship, and the real recurring cost of the structure.