Company Formation in ADGM – Abu Dhabi Global Market
Abu Dhabi Global Market is a broad-based international financial centre for local, regional and international institutions, established in accordance with the Federal Law No (8) of 2004, Federal Decree No (15) of 2013, Cabinet Resolution No (4) of 2013 and Abu Dhabi Law No (4) of 2013.
ADGM’s three independent authorities – the Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts – ensure that business-friendly environment operates in line with international best practice that are recognized by major financial centers across the world.
ADGM is becoming an ideal platform for companies that are looking to startup or expand to the UAE and GCC. With the new license services and the Professional Support Programme, entrepreneurs will be able to influence top-tier ecosystems of investors, private equity firms, seek partnerships to operate and maximize their business.
The key attraction of ADGM is SPV (Special Purpose Vehicle). SPVs are corporate vehicles, typically private companies, established for the purpose of isolating financial and legal risk by ring-fencing assets and liabilities. SPVs can be established as subsidiaries, project or joint venture vehicles to ensure that only those assets related to a transaction are exposed to the liabilities associated with that transaction. As the key feature of an SPV is its separate legal personality, claims by the SPV’s creditors cannot attach to the assets of the SPV’s shareholders or any of its sister companies.
Key Benefits of Company Formation in Abu Dhabi Global Market (ADGM):
- 100% foreign ownership,
- 100% repatriation of capital,
- 100% exemption from personal income tax, corporate tax, service tax, import and export tax,
- Distinct from UAE legal system
- Independent, English – speaking and common law judicial system
- Risk based regulatory approach
- Modern infrastructure and global connectivity
- Quick & easy and fully digital registration process
- Shelf SPVS permitted
- US$ denominated environment
Characteristics of ADGM Company Setup:
Location:
Abu Dhabi Global Market, Abu Dhabi (U.A.E.)
Proposed activity:
The business activities offered by ADGM are categorized into financial, non-financial, and retail activities.
License available:
Commercial license is only available option for ADGM Company Setup
Type of entities:
Company limited by shares, Company limited by guarantee, Private Company unlimited with shares/without shares, Restricted Scope Company, Partnership and Branch
Shareholder:
Shareholder for ADGM Company Can be Individuals or Corporate entity
Director:
Individuals & Corporate entity (Minimum one individual mandatory)
Share capital:
USD 50,000/- for ADGM Company Setup and USD Nil/- in case of Branch office. (Required to be deposited in bank before or after company incorporation)
Do note that shares are deemed to be issued on company incorporation irrespective of whether share capital is deposited in bank pre or post incorporation.
Audit:
Annual audit report to be filed in ADGM
Estimated time:
3 to 4 weeks to obtain license of the company and register a company in ADGM.
Another 7-10 working days for immigration card subject to security clearance & thereafter visa may take approximately 7-10 working days on normal basis.
ADGM Company Setup Process:
- Identify the legal form of company to be registered in ADGM
- Select activity from ADGM activity list,
- Apply for name and initial approval,
- Payment of fees related to ADGM business set up,
- Sign ADGM company registration and incorporation documents,
- Apply for ADGM residence visa.
Documents Required for ADGM Company Registration:
The documents required for business set up in ADGM depends on whether a shareholder is individual or corporate entity. Basic requirements are
- Color passport copy,
- Color UAE residence visa & emirates id copy,
- Utility bill copy,
- Business Plan,
- CV/Resume,
- NOC from existing sponsor,
To know more about the complete requirements for company formation in ADGM call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com
Company Formation Cost in ADGM- Abu Dhabi Global Market:
ADGM SPV Company Setup begins from USD 3,475/-.
Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in ADGM.
Other Notes for ADGM/Abu Dhabi Global Market Company Formation:
- Document to be legalized with UAE Embassy in case of corporate shareholder
- Shareholder or directors wishing to have UAE residency visa on said company will need to revisit after issuance of license, immigration card and entry permit for stamping of visa on the passport and may need to stay in UAE for 5 to 7 working days as that process may take time.
Global Business Services DMCC has helped many individuals and corporate entities to set up their businesses in ADGM. Our company acts as a one stop solution for ADGM company incorporation services.
If you are looking for ADGM company setup, please get in touch with us for professional assistance.
Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in ADGM.
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.