Set in the heart of Abu Dhabi, ADGM is the ideal location for businesses in the financial sector, particularly for private banking, wealth management and asset management. It’s a home to various local and international businesses of all sizes, spread across a 114-hectare site along with world-class office space, state-of-the-art leisure, entertainment and hospitality facilities. Before choosing ADGM as the place to startup your business, here are some key points to note:
Regulations: Abu Dhabi Global Market is governed by three independent authorities: the Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts – all which work together to ensure that organisations within the free zone operate in line with international best practices that are recognised by major financial centers across the world.
Knowing if your company is regulated or not becomes the first point of call as this will determine which authority you are governed by and what is required of you to trade in the free zone. ‘Regulated companies’ governed by the FSRA include international and Islamic banks, lending and credit institutions, fund management companies and investment businesses. ‘Non-regulated companies’ include consultancy services, accountancy and audit firm
The category within which a company falls will determine its requirements. Examples includes regulated companies being mandated to take up a physical office space, appointing an authorized UAE resident for the role of a Senior Executive Officer, chief financial officer, compliance officer, money laundering reporting officer and renewal of License. For a non regulated company, a physical office space isn’t required.
Visa Options: The general rule is one visa per 100 sq ft of office space.Getting a visa in the ADGM is relatively easy and there is a multiple visa option, depending on the size of the business premises. Under an ADGM visa, sponsoring family members is a walk in the park as the process is straightforward and quick.
Benefits of setting up business in ADGM
0% corporate and personal tax
100% company ownership
100% repatriation of capital and profits
No currency restrictions
100% import and export tax exemption on offer
Legal Maxims Consultants has a team of experts committed to providing out of the box consultancy, support and management services to investors interested in a new company formation in ADGM or any of the Free Zones in the UAE.
Our service charge is arguably the cheapest in the whole of UAE. Contact Us for a free consultation and a free quote today.