Currently, there is no prohibition on foreign banks that deal with clients located in the UAE. The only restriction is the prohibition on holding mortgages on real estate, and such banks would need to have recourse to a local security agent that is a bank or a financial institution licensed by the CB.

A law issued in 2016 creates a secure registry for movable assets, and foreign banks may register as pledgee and hold movable assets as security without needing to have a local security agent.

There are more restrictions on insurers and insurance brokers that are required to be licensed by the CB. Foreign insurance companies may not insure assets located in the UAE.

Similar restrictions apply to the promotion and marketing of foreign funds in the UAE. This must be done through a local agent licensed by the SCA, unless the promotion or marketing is on a reverse solicitation basis or such foreign funds are targeted to Sovereign Wealth Funds or Qualified Investors, provided they are not individuals.

In the DIFC and ADGM , which are wholesale jurisdictions, a foreign entity may only deal through a DFSA-authorized firm unless it is dealing with a market counterparty.