Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the UAE – Abu Dhabi, opened for business on 21st October 2015. In line with the Abu Dhabi’s Economic Vision, ADGM’s mandate and jurisdiction as an IFC extends over the entire 114-hectare Al Maryah Island as the designated financial free zone in Abu Dhabi. ADGM’s purpose is to establish a sustainable business and financial eco-system in Abu Dhabi for local and international financial and non-financial businesses to thrive and add to the success of the Abu Dhabi economy.
Strategically situated in Abu Dhabi, ADGM plays a pivotal role in positioning Abu Dhabi as a global hub for business and finance that connects the growing economies of the Middle East, Africa and South Asia.
Abu Dhabi has created one of the largest sovereign wealth funds in the world, and is being internationally recognised as a wealth center. It is a natural progression to harness on Abu Dhabi strengths as a global wealth center, with world-class infrastructure, political stability and security, and robust regulatory framework to develop itself as an international financial center focusing on growth areas of private banking, asset management and wealth management.
Thus, as a broad based financial centre, ADGM has anchored its foundation on three of Abu Dhabi’s strategic strengths and growth areas and continually expands its financial services to address businesses’ and market’s needs. ADGM has put in place a conducive environment, underpinned by a responsive regulatory framework, and introduced a full spectrum of investment vehicles and legal structures for corporate companies, banking entities, asset management firms, insurance companies, family offices to professional services to realise their business and anchor themselves in Abu Dhabi. ADGM has created a proportionate and calibrated admission and supervision approach, allowing ADGM to cater to not only the needs of bulge bracket firms but also boutique and new innovative players.
Overall, ADGM’s three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, enable registered companies to conduct business in a zero-percent tax environment and operate with confidence within an international regulatory framework with its own independent judicial system and legislative infrastructure based on the Common Law.