All about Abu Dhabi Global Market (ADGM)
- Overview
- ADGM Independent Authorities
- Advantages of setting up a business at ADGM
- Top Abu Dhabi Global Market Companies
Established in 2013 by Federal Decree, Abu Dhabi Global Market (ADGM) is an international financial centre and free zone located on Al Maryah Island, Abu Dhabi. The ADGM free zone and financial hub is an integral part of Abu Dhabi’s Economic Vision 2030 and operates under its own commercial and civil laws that ensure a business-friendly environment.
Take a look at this detailed overview of ADGM before you plan to set up a company at this growing business hub.
Overview of ADGM
Abu Dhabi Global Market (ADGM) with its well-maintained business ecosystem became fully operational in October 2015. Recognised internationally for offering financial services and conveniences to businesses, the financial centre was designed to become a catalyst for growth and development for local as well as international corporations. The system at ADGM is designed to identify the needs of businesses and provide them with solutions through their practices and facilities.
- Abu Dhabi Global Market Location: ADGM Authorities Building, ADGM Square, Al Maryah Island, Abu Dhabi
- Abu Dhabi Global Market Timings: Sunday to Thursday (08:30 am to 04:30 pm)
- Abu Dhabi Global Market Contact: +971-2-333-8888
ADGM Independent Authorities
With three independent authorities, this global financial centre in Abu Dhabi has incorporated the best international practices to benefit businesses that choose to be a part of ADGM, UAE. ADGM authorities include the Registration Authority (RA), Financial Service Regulatory Authority (FSRA) and ADGM courts. All three authorities work together to offer a state-of-the-art business environment that gives rise to several growth opportunities.
Abu Dhabi Global Market Registration Authority
The Registration Authority, ADGM, assists businesses interested in getting registered and helps them to tackle the licensing process. The authority also offers other services to entities entering the market such as registration of business name and logo, documentation, changes in basic information about the company and more. The registration authority can also cancel commercial licences and is responsible for the dissolution and restoration of ADGM establishments.
Abu Dhabi Global Market Financial Services Regulatory Authority
ADGM strongly believes in providing a fair and effective environment for businesses, so that they have a good chance for growth. The centre thus established the ADGM Regulator to promote a comprehensive financial ecosystem that promotes entrepreneurship and growth. ADGM’s Financial Services Regulatory Authority (FSRA) is an integrated set-up that manages potential risks and other negative factors by implementing international standards and regulations. One of its main policies is regulatory transparency that creates a trustworthy platform for both regional and remote ADGM clients.
Abu Dhabi Global Market Courts
Abu Dhabi Global Market Courts uses a fully functional digital approach to transform the conventional judiciary system. This approach has made all judiciary procedures for businesses easier, from filing a case to accessing hearings and trials. Moreover, the courts have an independent English common law framework that promotes impartiality, transparency, justice and easy access to a fair trial of civil and business disputes.
Advantages of setting up a business at Abu Dhabi Global Market Square
Regional and international businesses benefit greatly from entering into a collaboration with Abu Dhabi Global Market Square (ADGMS). The authority provides its clients with modern infrastructure, different types of office spaces, covering various categories of businesses including retail, non-financial and financial set-ups.
Here are some of the notable advantages offered by ADGM.
Fast-paced, convenient processes and procedures
Company formation in ADGM is quick and efficient as the ADGM business ecosystem implements a practical and efficient method for different processes and procedures. The availability of digital resources has also smoothened the processes and made it easier for the process to be completed faster, saving time and resources. Moreover, ADGM’s well-developed modern infrastructure offers global connectivity and an international gateway. Along with easier visa procedures, these facilities and other government services offer businesses a favourable working environment.
ADGM regulations and legislation
With independent courts and jurisdiction, AGDM offers a more international approach to all legal disputes.
Taxation and ownership
Businesses in ADGM have 100% ownership and enjoy a tax-friendly system with 0% direct tax. Furthermore, there are no restrictions on repatriations of business profits.
List of top Abu Dhabi Global Market companies
With a total worth of US $33bn, Abu Dhabi Global Market provides a future-oriented, global business platform to various international and regional market giants. It has over 2,685 active registered licences and a workforce with around 16,654 employees on Al Maryah Island.
Here is a list of some prominent regional and remote ADGM companies.
- Aarna Capital Ltd.
- ADCM Altus Investment Management
- ADCORP Ltd.
- ADNOC Reinsurance Limited
- ADCB Asset Management Ltd.
- Alpen Capital Ltd.
- Arab Global Capital Ltd.
- Digital Spring Ventures LLP
- DEX Limited
- Ebury Partners UK Ltd.
Here, we wrap up our overview of the Abu Dhabi Global Market free zone. Businesses interested in setting up their companies in the UAE can also check out the free zone trading hub of DAFZA in Dubai and Ras Al Khaimah Economic Zone. The former is located close to the world’s busiest airport, Dubai International Airport.
Apart from these, Dubai Industrial Park and Jebel Ali Free Zone (JAFZA) are also popular business spaces for companies in the UAE. Top companies in JAFZA enjoy operating in a central location in Dubai along with a number of other benefits.
Stay tuned to MyBayut for more informative content on the business ecosystem in the UAE.
