Abu Dhabi Global Market (ADGM) Company Formation
Abu Dhabi Global Market (ADGM)
The Abu Dhabi Global Market Free Zone is a financial center recognized internationally. It is in the capital of UAE, on AI Maryah Island., attracting investors and businesses all across the world because of its business-friendly environment. Abu Dhabi Global Market (ADGM) was established by the Chamber of Commerce in 2013 and became a completely operational zone in the year 2015. There are three authoritative bodies that guide the formation and functioning of businesses setup in UAE:
- The ADGM Courts
- The Registration Authority
- The Financial Services Regulatory Authority (FSRA)
The ADGM Courts are for legal and justice services. The Registration Authority is for the registration-related process, and the Financial Services Regulatory Authority manages and regulates the financial sector. With a highly business-friendly and supportive ecosystem, ADGM Free Zone is today being acknowledged and appreciated globally.
Federabl 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 governs the company formation and business setup in ADGM.
One of the exclusive benefit that Abu Dhabi Global Market offers is SPV (Special Purpose Vehicle). SPVs are the solutions that offer flexiblity in structing asset holdings. Overall, Abu Dhabi Global Market offers amazing opportunities for businesses to connect with global market.
Now, let’s checkout some of the major benefits of setting up a business in Abu Dhabi.
Benefits of starting a business in Abu Dhabi Global Market (ADGM)
Abu Dhabi offers a wide range of benefits along with an efficient environment. Here is a list of them:
- It provides one of the top strategic locations in the whole emirate.
- It connects you with a lot of opportunities by giving access to its vast market connection.
- 100% repartriation of capital.
- No personal tax, import tax, export tax, or service tax.
- Exemption from corporate tax for certain businesses.
- ADGM has independent governing bodies such as ADGM courts.
- Efficient Global Connectivity through different means of transport.
- World-class infrastructure.
- Virtual, easy-to-perform registration process.
Primary Business Setup in Abu Dhabi Financial Market (ADFM):
1. Location: Abu Dhabi Global Market, Abu Dhabi (UAE).
2. Activity Categorization: All ADGM Activities are segmented into three categories: financial, non-financial, and retail.
3. License: ADGM provides the option of commercial license only.
4. Type of Entities Permitted: Abu Dhabi Global Market allows investors to setup wide range of companies:
- Company limited by Share.
- Company limited by Guarantee.
- Private Company Unlimited with or without shares.
- Restricted Scope Company
- Partnership Firm
5. Shareholders: ADGM businesses can have both corporate entities as well as individuals as shareholders.
6. Director: There must be atleast one individual director. Other than that, corporate entities can also act as directors.
7. Share capital:
- If you start a branch office, no need to deposit any amount in the bank.
- Depending upon the activities, you need to deposit $10,000 or above for ADGM company formation.
8. Audit: It is necessary to file annual audit report.
9. Estimated Time: It usually takes 3-4 weeks for the complete company formation process.
Then, it takes another 1-2 weeks for obtaining the immigration card.
Lastly, visa processing will take another 1-2 weeks.
Procedure to set up business in ADGM:
- Select the type of company that you want to form in ADGM free zone.
- Contact the Business Development team of ADGM to understand the application process. You can reach out at Bd@adgm.com or +97 1233 3888 88.
- First, you need to apply for name and primary approval. Certain company names are prohibited in the free zone.
- Know about the paperwork accordingly. Your paperwork will depend upon the type of business and the type of license required for it.
- Submit the necessary documents after getting them reviewed by the ADGM team.
- Make the fees payment for ADGM company formation
- Obtain the incorporation certificate.
- If your business requirements include office space, then acquiring it is your next step.
- You can also go for brilliant banking services under the guidance of the ADGM team.
- You also need to apply for residence visa.
Documents Required for ADGM Business/Company Setup Process
- Passport copies (colored) of all shareholders, directors, and authorised signatories.
- UAE residence visa and emirates ID copies (colored) of all shareholders, directors, and authorised signatories.
- Utility bill copies of all shareholders, directors, and authorised signatories.
- Business Plan
- N.O.C from existing sponsor for all shareholders, directors, and authorised signatories.
You can further check the details on the official Abu Dhabi Global Market website: https://www.adgm.com/
Procedure for visas and government services:
To proceed with visa and government services, you will need to follow three steps-
Step 1- Make an account on the virtual client portal of Abu Dhabi Global Market, namely, ACCESSADGM. It is a helpful portal for visas, letters, permits, and more.
Step 2- Get an e-channel account and an establishment card made. These are necessary to process the visa services application.
Step 3- The last step is to apply via the client portal for the service accordingly finally.
How Business Setup HQ can Help You in Company Formation?
Business Setup HQ has a wide range of portfolio in company formation. We have helped several investors in setting up their businesses in Abu Dhabi Global Market Free Zone. If you want to start your company without putting much effort, we will provide you with top-notch assistance. Contact Business Setup HQ today.
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Abu Dhabi Global Market (ADGM) : FAQs
a. Depending on the nature of your business, the ADGM team will advise you on the type of license your business would require and the forms to be filled out. You can visit registration.adgm.com to browse through the various registration forms.
b. Upon receiving your application, the ADGM team will review it and advise if further actions are needed. Upon completion of the review process, ADGM will issue the incorporation certificate for your business.
c. Issuing of commercial license.
d. Apply for the establishment card and FAWRI account required during the process of application of visas.
Business Setup HQ has already helped many investors and owners form their companies without second thoughts and aims to do so even further. If you are willing to start a business in UAE, you can always book your first call with us.
