The Government of Abu Dhabi established the Abu Dhabi Global Market (ADGM) financial free zone to accelerate the government’s vision of elevating the emirate as a powerhouse of innovation and financial intermediation. The ADGM has so far succeeded in contributing substantially to the development and diversification of Abu Dhabi as well as the UAE economy as a whole. ADGM is home to some of the world’s best innovation driving-companies and acts as a gateway for local, regional, and international entities into Abu Dhabi.
Why Initiate Company Formation in ADGM?
1. Easy Setup Procedure
ADGM gives the investors an efficient and faster way of company incorporation in Abu Dhabi. The process of company formation in ADGM is powered by a completely digitalized application procedure. The ADGM authority has also implemented measures to support investors with visas and other government services.
2. The benefit of Robust Legislation
Foreign investors need not bother about the complexities of the UAE laws while setting up a business in ADGM as it has an independent legal system based on the English Common Law. ADGM is independent with its own civil and commercial laws and the ADGM Courts acts as a strong pillar of dispute resolution within the financial free zone.
3. Ownership & Tax Benefits
The foreign investors can avail 100% ownership of their companies by initiating the process of business setup in ADGM. Also, there are no restrictions on repatriation of profits and a tax-friendly regime makes the process of company formation in ADGM a lucrative prospect for the investors.
Regulatory Authorities in ADGM
There are mainly two ways of incorporating a business in ADGM: ‘regulated and no-regulated. The process of company formation in ADGM is controlled and regulated by three authorities
1. Registration Authority
The Registration Authority is the competent authority that oversees the company registration in ADGM, incorporation, and licensing of all the entities. The Regulatory Authority provides the investors with a slew of business activities to give them the opportunity of market entry into the UAE, supports their growth, and gives access to a dynamic business community.
- The Registration Authority in ADGM handles,
- Registration of ADGM establishments
- Registration of business names
- Maintenance of register
- Registration of post-incorporation documentation
- Registration of changes in the business name
- Registration of changes in directors & shareholders
- Enforcement of ADGM companies regulations
- Cancellation of commercial licenses
- Company Liquidation in ADGM
2. Financial Services Regulatory Authority
ADGM’s Financial Services Regulatory Authority (FSRA) enforces a stable environment for all the financial services companies operating in the free zone. The FSRA regulates, manages and regulates all the potential risks and impacts the financial businesses are bound to undergo. FSRA ensures that the market players in the financial market can operate with certainty and get a level-playing field. FSRA enforces the ADGM’s laws and regulations to ensure that the interests of the investors are protected. FSRA introduces and amends rules and policies when necessary to make sure that the companies can thrive in a transparent and progressive environment of business setup in ADGM.
3. ADGM Courts
ADGM Courts support the companies operating in ADGM with a completely independent framework of law to resolve commercial civil disputes. The judges at the ADGM are from the world’s most popular common law jurisdictions.
Setting up a Business in ADGM
The investors can set up mainly two types of businesses in ADGM,
1. Financial Business
The Financial Business consists of Banking Businesses, Wealth & Asset management Businesses, and Capital Markets.
2. Non-Financial Business
The Non-financial Businesses at the ADGM comprise the legal structure such as Professional Services, Corporate, Family Business, Associations, Special Purpose Vehicles (SPV), and Tech Startups.
How to Setup a Business in ADGM?
The process of company incorporation in ADGM is straightforward and fairly simple. The entire process can be completed in 4 steps and within a few days. Consult the best business setup consultants in Abu Dhabi to make the company registration process hassle-free. The following steps should be initiated to set up a business in ADGM:
1. Submit the Application
Approach the Registration Authority to submit the application for company formation in ADGM with relevant documents and business plans. Reputed business setup consultants in Abu Dhabi, UAE will execute this step for the investors.
2. Registration & Incorporation
The Registration Authority will review the application for business setup in ADGM and if all the documents are proper approval will be issued. Upon approval, the process of company incorporation in ADGM will be initiated.
3. Government Services
The investors can then apply for visas through the government’s services for the establishment card. The establishment card will be necessary for obtaining visas.
Business Setup Consultants in ADGM can Help for Company Formation in ADGM
ADGM is one of the world’s leading financial centres and home to a wide variety of companies. The ADGM offers the investors the benefit of an independent legal framework based on the Common Law system along with 100% ownership and tax advantages. However, the investors require the assistance of well-established business setup consultants in Abu Dhabi to make the incorporation process a hassle-free affair. Jitendra Business Consultants (JBC) is one of the best business setup consultants in Abu Dhabi with years of experience in helping the companies set up businesses in the UAE. JBC has a team of well-qualified business setup consultants who are experienced in all the free zone laws and regulations and are experienced in managing the authorities. With JBC, the investors can conduct the business in the peace of mind without any hassle.