Abu Dhabi Global Market Free Zone
The Abu Dhabi Global Market (ADGM) free zone, an ideal location for investors, is set in Abu Dhabi’s centre. This location is suitable for investors from fields like private banking, asset management, and wealth management. The Abu Dhabi Free Zone provides firms in the financial industry sector with a better business environment. In 2015, ADGM initiated connections between heavy hitters internationally and domestically, achieving significant progress since then. ADGM has collaborated with eminent authorities like the UAE’s Central Bank, the Economic Department in Abu Dhabi, Abu Dhabi Municipality, the Insurance Authority, and the Financial Service Commission in Jersey.
Three different authorities allow companies to operate in the Abu Dhabi Global Market. They are
Types of Entities in ADGM Free Zone
Investors can set up four different entities in the ADGM-free zone.
- Branch of a foreign company
- A company limited by shares.
- Partnership firm
- A company limited by guarantee.
Setting Up a Business in ADGM free zone
There are many options available for companies looking to set up shop in an ADGM-free zone. There are options to open a business limited by shares where the presence of two directors is mandatory. Or else, you can also open a branch of the company that is already established in the UAE or any other foreign country.
In order to set up a business in ADGM, each company needs to fill out an application form online through ADGM’s online registry solutions. Paper-based applications are acceptable, but an extra fee is charged for them. The business set up the registration process at ADGM, which is a four-step process.
ADGM free zone business set up procedures
Business Development
A unique business development team helps in discussing the requirements of your business. After this, the business application can be submitted through the online registry solution.
Registration and Incorporation
Upon obtaining approval from the authorities for the business application, complete the online incorporation or registration form. Ensure to submit all the documents listed in the form.
Commercial license
Upon approving the filled-out registration form, the authorities typically issue a commercial license within a few days. It does not take more than a week for support if all the documents mentioned are provided correctly.
Government Services
Next, apply for a FAWRI account and an establishment card. This is required mainly for ADGM-issued visas.
FAWRI Account: Each company needs to register in the FAWRI system to proceed with visa processing.
Establishment Card: All new companies in the ADGM require an Establishment Card for visa-related services.
ADGM Free Zone business set up – Documents required
- Passport copy, visa page or immigration entry stamp, and Emirates ID of the director(s), shareholder(s), and secretary
- Application form for reservation of the proposed name for the company
- Copy of the business plan
- In the case of companies limited by shares, a statement of initial and capital shareholding
- For companies limited by guarantee, the idea of a guarantee
- Statement of proposed officers of the entity
- Trade name reservation document
- A statement with the intended address of the proposed company
- Copy of the Articles of Association (AOA) and resolution of the board of directors
- Lease agreement for the office space copy
- Confirmation of the restricted scope of the company
- Data protection form, which is duly filled out and signed.
- Beneficiary or ultimate owner form duly filled and signed
- Any other documents required by the authorities, depending on the scope of activities that the company would be undertaking
