On Al Maryah Island, in the centre of Abu Dhabi, is the award-winning global financial hub
and free zone known as Abu Dhabi Global Market. The Middle East, Africa, and Asia's
expanding economies are supported by its strategic location.
Since it began operating in 2015, it has received a great deal of acclaim from around the
world for its strong, forward-thinking, and adaptive business-friendly ecosystem. Also, it
is a great place for companies in the finance industry, particularly those in finance,
wealth management, insurance, and asset management.
The absence of currency restrictions, 100% firm ownership, 100% repatriation of capital and
earnings, 100% exemption from import and export taxes, and 0% corporate and personal tax are
just a few of the compelling reasons to think about forming a business in ADGM.
The Registration Authority, the Financial Services Regulatory Authority, and the ADGM Courts
are three separate authorities that are in charge of the ADGM free zone, which is governed
by its own laws and norms.
According to federal legislation and Abu Dhabi law, including Abu Dhabi Law No. 4 of 2013,
which has its own civil and commercial laws, the ADGM was established. The free zone
provides a top-notch legal and regulatory framework.
Upon initiating the process, you will be assigned a dedicated business development team that will work closely with you to understand your business requirements and objectives. The team will guide you through the necessary steps and provide valuable insights to help you make informed decisions.
Once the initial consultation is complete, you will need to fill out the online registration or incorporation form provided by ADGM. It is important to ensure that you have all the required documents ready as specified in the form. These documents may include identification proofs, business plans, financial statements, and other relevant records.
After completing the form and organizing the necessary documents, submit them to ADGM for review. The authorities will carefully assess your application, conduct due diligence, and verify the provided information. It is essential to provide accurate and transparent information to facilitate a smooth approval process.
Upon successful review and approval, you can expect to receive your commercial license within a week. The commercial license is an official authorization that allows you to legally conduct business activities within ADGM.
To proceed with the visa processing for your employees, you will need to apply for a FAWRI account and an Establishment Card. The FAWRI account facilitates the management of labour-related processes, while the Establishment Card is crucial for employee visa applications.
The process of setting up a business in ADGM can vary depending on factors such as the nature of your business and the type of license required. Seeking the guidance of experts in company formation and legal compliance is highly advisable. An experienced consultant can navigate you through the intricacies of the process, provide tailored advice, and ensure timely incorporation.
By following the comprehensive steps mentioned above and availing professional guidance, you can successfully establish your business in UAE. Whiteworth’s expert support will help streamline the incorporation process, mitigate risks, and ensure compliance with all relevant regulations and requirements. It is advisable to consult with a professional business advisor like Whiteworth or the ADGM authorities to set up a business in UAE.
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