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Abu Dhabi Global Market Free Zone

Abu Dhabi Global Market Free Zone

SETUP YOUR BUSINESS IN ABU DHABI

Abu Dhabi Global Market Free Zone

Abu Dhabi Global Market (ADGM) free zone, an ideal location for investors, is set at Abu Dhabi’s centre. This location is suitable for investors from fields like private banking, asset management, and wealth management. The Abu Dhabi free zone provides the firms of financial industry sector with a better business environment. ADGM was initiated in the year 2015 and has made progress connecting heavy hitters internationally and domestically. ADGM has collaborated with eminent authorities like the UAE’s Central Bank, the Economic Department in Abu Dhabi, Abu Dhabi Municipality, Insurance Authority, and the Financial Service Commission in Jersey.

Three different authorities allow companies to operate in the Abu Dhabi Global Market. They are

Registration Authorities

Registration Authorities are the first contact if one wants to set up a company in Abu Dhabi Global Market Free zone. They aid you in the whole process of company formation registration and licensing.

    Financial Service Regulatory Authority(FSRA)

    FSRAs main objective is to establish a financial market that holds high regulatory transparency and engagement.

    Abu Dhabi Global Market Courts

    The independent common law framework adjudicates civil and Commercial disputes.

    Advantages of Setting up a Business in ADGM Free Zone

    Like all other free zones in the UAE, ADGM has its own set of advantages

    • 100% foreign ownership
    • No restrictions on capital and profits repatriation
    • 0% tax (for 50 years)
    • Common law jurisdiction
    • Availableness of professionals
    • Easy and Convenient business procedures
    • Attestation and legalization of corporate documents is not required (in most cases)
    • In the case of shared ownership, there is no restriction in case of nationality.
    • No physical office space needed in ADGM. The Sovereign will provide registered addresses for SPVs (particular purpose vehicles)

    Types of Entities in ADGM Free Zone

    Investors can set up four different entities in the ADGM free zone

    • Branch of a foreign company
    • A company limited by shares.
    • Partnership firm
    • A company limited by guarantee.

    Setting Up a Business in ADGM free zone

    There are many options available for companies looking to set up a business in ADGM free zone. There are options to open a business limited by shares where the presence of two directors is mandatory. Or else you can also open a branch of the company that is already established in the UAE or any other foreign land.

    In order to set up a business in ADGM, each company needs to fill an application form online through the ADGMs online registry solutions. Paper-based applications are acceptable, but the extra fee is charged for the same. The business set up the registration process at ADGM is a four-step process.

    ADGM free zone business set up procedures

    Business Development

    A unique business development team helps in discussing the requirements of your business. After this, the business application can be submitted through the online registry solutions.

    Registration and Incorporation

    After getting approval from the authorities for business application, the online incorporation/registration form can be completed. All documents mentioned in the form also needs to be submitted.

    Commercial license

    After getting approval for the filled registration form, a commercial license should be issued within a few days. It does not take more than a week for support if all mentioned documents are provided correctly.

    Government Services

    Next is to apply for FAWRI account and Establishment Card. This is required mainly to use for ADGM issued visas.

    FAWRI Account: Each company needs to register in the FAWRIs system to proceed with visa processing.

    Establishment Card: An Establishment Card is required for all new companies in the ADGM for visa-related services.

    ADGM Free Zone business set up - Documents required

    • Passport copy, visa page or immigration entry stamp, and Emirates ID of the director(s), shareholder(s), and secretary
    • Application form for reservation of proposed name for the company
    • Copy of Business plan
    • In case of companies limited by shares, statement of initial and capital shareholding
    • For companies limited by guarantee, the idea of a guarantee
    • Statement of proposed officers of the entity
    • Trade name reservation document
    • A statement with the intended address of the proposed company
    • Copy of Articles of Association (AOA) and resolution of the board of directors
    • Lease agreement for the office space copy
    • Confirmation of restricted scope of the company
    • Data protection form which is duly filled and signed
    • Beneficiary or ultimate owner form duly filled and signed
    • Any other documents required by the authorities depending on the scope of activities that the company would be undertaking

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