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A DYNAMIC MIX OF FIRMS

Dhaher Bin Dhaher

ADGM registers 160 companies in first year

ABU DHABI, October 20, 2016

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has registered and licensed close to 160 companies from a broad range of industries and sectors in its first year of operations.

The group of first movers into ADGM comprises financial, non-financial and retail businesses. In line with ADGM’s strategy of fostering a broad based, thriving and sustainable business community, a large pool of companies in the non-financial category has made ADGM their home base include the law firms, professional and corporate service providers and family offices. In other key sectors, real estate, investment and holding companies seeking to be close to the region’s business and growth opportunities are also among those who have also chosen ADGM as their hub.

Adding to the dynamic mix is a sizable group of retail and hospitality businesses catering to the needs of the financial free zone. Given its central location, retail businesses increasingly value Al Maryah Island as a highly attractive base and location for sustainable growth.

In making a choice, many companies have attributed the ease of doing business, level of efficiency, a comprehensive range of business offerings and investment vehicles, and adoption of the entirety of common law in legislative framework as some of the fundamental reasons for being attracted to ADGM.

As the UAE’s new International Financial Centre, ADGM has established a significant presence in the local and international business and financial regulatory scenes.

ADGM understands what businesses wants and has been meticulous in developing a conducive ecosystem that enables local businesses to thrive, regional companies to expand their presence and global entities to access the growth opportunities in the region, said Dhaher Bin Dhaher, chief executive officer of ADGM‘s Registration Authority.

“As a broad-based financial centre, ADGM has been focused on creating a business-friendly and sustainable eco-system where local companies and international entities can grow together.  We remain relevant and responsive to the needs of our market by maintaining a dynamic platform and safeguarding the best interests of our registered companies and stakeholders,” he said.

“Through ADGM, businesses have access to and can conduct a wide range of activities to bolster their growth. We also have a supportive framework that meet the needs and requirements of family businesses by safeguarding their assets,” added Dhaher.

 Numerous family businesses and individual companies have also set up in ADGM as it provides a supportive framework which allows them to manage family interests and safeguard their assets in the most efficient manner.

“Our registration process is efficient and straightforward. In some cases, we are able to issue licenses to companies within 48 hours of receiving their business registration. Our fully digitised platform and robust and supportive on-boarding services ensure a hassle-free transition for companies and their employees who want to attain a licence with the ADGM. This also part of our on-going commitment to deliver valuable client experience for ADGM companies and partners as an IFC,” he said.

“We believe in building an ecosystem with a strong legal framework and courts system and getting it right from the very start. We are pleased that so many businesses from diverse industries see and understand the future of the ADGM and significance of being part of the growth story of Abu Dhabi,” added Dhaher. – TradeArabia News Service




Tags: ADGM | Abu Dhabi Global Market |

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