Investors or entrepreneurs in the UAE should consider key locations for establishing businesses that can be favorable to the company’s overall success.
The Abu Dhabi Global Market (ADGM), located in the heart of Abu Dhabi, is an excellent location for financial services firms, notably private banking, investment management, and portfolio management.
Since the majority of enterprises operating within the free zone are in the financial sector, Abu Dhabi Global Market is controlled by three separate authorities, which are noted below, to guarantee that the business-friendly culture follows worldwide best practices recognized by major financial hubs across the world.
- The Registration Authority
- The Financial Services Regulatory Authority (FSRA)
- ADGM Courts
Benefits of Company Formation in ADGM
- 100% ownership
- There is no direct tax
- Profits are repatriated in their whole
- There are a variety of office setup alternatives available
- The application procedure is simple and time-oriented
- Top-notch infrastructure and interconnectivity
- Offers a full range of legal, finance, and customer services
- No restrictions on international workers
- Investor and employee visa options
ADGM Business Categories
Financial businesses, non-financial businesses, retail, and Special Purpose Vehicles are the four basic kinds of businesses that can be established in ADGM.
- The Financial Business:- ADGM, as an International financial centre, provides a friendly climate for financial enterprises, as well as the geographic benefit of serving developing markets.
- Non-Financial Business:- ADGM provides a legal and administrative framework for non-financial firms, associations, family offices, corporate headquarters, and treasury, in addition to financial businesses.
- Retail Business:- Retail firms will benefit from ADGM’s challenging environment. Wholesale and retail commerce, production, storage and transport, motorcycle maintenance, accommodation and food service activities, science and technology, information and communication, arts and entertainment are all legal retail activities.
- Special Purpose Vehicles (SPVs):- Special Purpose Vehicle (SPV) is the main draw of ADGM. SPVs are corporate vehicles, usually private businesses, created for the aim of ring-fencing assets and liabilities to isolate financial and legal risk.
Documents Required for Company Formation
The shareholder, director, and authorized signatory need the following papers:
- Copy of Passport
- Utility Bill (not older than 3 months)
- Bank Statements or a Letter of Recommendation from a Bank (3 months)
In addition to the aforementioned, the Authorized Signatory must include:
- UAE visa or entrance stamp;
- If the individual is on a Free Zone visa, a letter of authorization from the firm or the Free Zone Authority is required.
ADGM is quickly establishing itself as a go-to destination for businesses wishing to launch or expand in the UAE and GCC. It consists of a diverse range of local and international enterprises of various kinds, which are spread out over a large area that includes world-class workspaces as well as leisure and hospitality amenities. It is ideal if you want to start a business in the financial services sector in the UAE with the assistance of a professional advisory firm with considerable experience in this field.
HLB Abu Dhabi is a well-known business consulting firm in Abu Dhabi, United Arab Emirates, that has helped businesses of all kinds develop in a variety of sectors. We have the expertise and understanding to help our customers choose the best business structure for their firm.