Dual-perimeter structure

Gulf Horizon Bank plans to operate through two regulated banking perimeters. Onshore, GHB will seek to obtain a banking licence issued by the Central Bank of the UAE under Federal Decree-Law No. 6 of 2025. Offshore, GHB will seek to obtain a financial-services licence from the DFSA (DIFC) or FSRA (ADGM) as a Category 1 deposit-taking institution, through which it serves international clients with offshore accounts, deposits, lending, and custody. GHB also intends to obtain a VARA Virtual Asset Service Provider licence for virtual-asset activities in Dubai.

GHB's target onshore licence would cover banking and payment services for UAE residents and UAE-incorporated businesses, including payment services utilising virtual assets within the CBUAE's licensing perimeter. Licence number and status are verifiable on the CBUAE public register.

GHB's intended offshore banking entity will seek authorisation as a Category 1 firm - the category that permits accepting deposits - by the DFSA (if DIFC) or the FSRA (if ADGM). DIFC Category 1 banking carries a minimum base capital requirement of USD 10 million. The offshore entity is separately governed, with its own board, senior managers, and DFSA/FSRA conduct-of-business obligations. Its licence number and status are verifiable on the DFSA or FSRA public register.

GHB intends to obtain a VASP licence, subject to authorisation from Dubai's Virtual Assets Regulatory Authority for activities conducted in Dubai outside the DIFC. Licensed categories include transfer services, custody services, and borrowing services. Licence number and status are verifiable on the VARA public register.

The target onshore protection structure contemplates eligible fiat deposits having deposit protection up to AED 500,000 per depositor per bank, if an applicable verified scheme covers those deposits. Offshore deposits held with GHB's DIFC or ADGM entity would not be assumed covered by the UAE Deposit Insurance Scheme unless the offshore perimeter has separately opted into an eligible scheme; offshore clients should confirm the applicable protection regime with their relationship manager before depositing. Crypto assets would not be covered by any government deposit-insurance scheme at either perimeter; GHB will maintain private insurance for client digital assets covering a minimum of 10% of average client assets.

GHB's proposed onshore and offshore entities would operate as reporting financial institutions under the UAE's Common Reporting Standard and FATCA regimes. Account information may be reported to the tax authority of the client's jurisdiction of tax residence. GHB does not provide tax advice; offshore clients should consult a qualified adviser in their home jurisdiction.

Virtual assets are volatile and may not be suitable for all investors. Offshore banking involves jurisdictional, legal, and tax considerations that differ from onshore banking. GHB will provide regulated custody and execution services but does not provide investment or tax advice unless separately licensed to do so.