Abu Dhabi Global Market (ADGM)

Overview

A financial free zone called ADGM was created in late 2015. It is a common law country, meaning that its laws are based on the common law of England and Wales. The sole financial free zone in Abu Dhabi is ADGM, which was established most recently. Additionally, ADGM has its own legal system, the ADGM Courts, which may handle business disputes between ADGM corporations and other companies who “opt in.”

The Abu Dhabi Global Market (ADGM) Free Zone, located in the center of Abu Dhabi, is the perfect place for investors to launch a business in the financial industry, particularly in private banking, wealth management, and asset management.

The companies working in the financial services industry may do so in an effective and stable business environment thanks to the Abu Dhabi free zone.

Since starting in 2015, ADGM has made great strides in working with influential people both domestically and abroad.

They have worked along with top government agencies including the Economic Department in Abu Dhabi, the Central Bank of the United Arab Emirates, the Insurance Authority, the Municipality of Abu Dhabi, and the Financial Service Commission in Jersey.

Permitted activities

ADGM allows for a wide variety of financial, non-financial, and retail business to be conducted, including:

foundations.

investment companies.

branches of foreign companies and of partnerships.

public companies.

partnerships – limited partnerships and limited liability partnerships.

cell companies – protected cell and incorporated cell companies.

Retail includes the manufacturing of items such as food products, beverages, and jewelry, the retail sale of such items, setting up retail stalls etc.

private companies limited by shares (similar to limited liability companies) and special purpose vehicles.

Non-Financial includes non-financial activities such as manufacturing. civil engineering, hotels, real estate, legal and accounting, advertising, marketing. consulting, education, social work activities etc.

Financial includes financial activities such as banks, financial advisers, investment advisers, trust service providers, fintech etc.

private companies limited by guarantee (i.e. associations).

As long as the trust complies with ADGM’s trust law rules, ADGM also permits the use of trust instruments. These are directly derived from British trust law with certain modifications. There is no minimal share capital requirement for ADGM enterprises. They also need at least one director, shareholder, and authorized signature. Private corporations are not required to appoint a company secretary. The firm may, however, be subject to extra regulations if it chooses to work in the financial industry and is governed by ADGM’s Financial Services Regulatory Authority (‘FSRA’).

Registration Authorities

The Registration Authorities are the initial point of contact for anybody looking to start a business in the ADGM free zone. They assist and mentor you during the whole business creation, registration, and licensing procedure.

Financial Service Regulatory Authority (FSRA)

Establishing a strong, well-regulated financial market with a high degree of regulatory involvement and openness is the primary goal of the FSRA

ADGM Courts

To resolve civil and business issues, they have a wholly distinct common law system.

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Abu Dhabi Global Market (ADGM)