Curious about the UAE’s hottest financial hub? Want to know why businesses are flocking to Abu Dhabi Global Market (ADGM)? This international financial centre is more than just a free zone – it’s a game-changer. With a whopping 215% increase in total Assets Under Management in Q3 2024, ADGM is crushing it!
Let’s dive into the world of ADGM, where business meets paradise on Al Maryah Island. From its strategic location to its powerhouse authorities, this free zone is shaking up the Middle East’s financial scene. Did you know ADGM hosts over 300 licensed businesses? That’s some serious clout!
But wait, there’s more! ADGM isn’t just about finance – it’s a complete ecosystem. With tailored licenses for various industries and a top-notch academy offering specialized training, it’s no wonder 759 new business licenses were issued in Q3 2024 alone. That’s a 33% jump from last year!
Abu Dhabi Global Market Overview
Let’s explore Abu Dhabi Global Market (ADGM)! It’s a financial powerhouse since 2013. ADGM is changing the UAE’s economy. It offers unique business and investment opportunities.
Establishment and Historical Development
ADGM started to make Abu Dhabi known globally. It quickly drew international investors and companies. By 2023, ADGM’s assets grew by 35%, with 102 managers and 141 funds.
Strategic Location on Al Maryah Island
ADGM is on Al Maryah Island. It’s perfectly placed to link global markets. The area was renamed “Abu Dhabi Global Market Square”.
This spot attracts many businesses. By 2023, 1,825 companies were there.
Legal Framework and Regulatory Environment
ADGM has its own laws, based on English Common Law. It’s like a piece of London in Abu Dhabi! The Financial Services Regulatory Authority (FSRA) ensures rules are followed.
Since 2018, ADGM is a key place for digital assets and crypto. It has a strong legal system and fights financial crimes. This makes it safe and appealing for businesses worldwide.
ADGM’s Comprehensive Business Ecosystem
Get ready to explore Abu Dhabi Global Market! It’s a financial hub full of opportunities. Let’s see why it’s great for entrepreneurs and investors.
Financial Services and Licensing Options
ADGM has many licenses for businesses. You can find one for financial, professional, or commercial activities. Plus, you can get a dual license for both ADGM and UAE.
In Q3 2024, ADGM gave out 33% more licenses than last year. With 128 asset managers and 156 funds, it’s a financial hub.
Digital Asset Trading and Cryptocurrency Regulations
ADGM is a leader in digital assets and crypto. Since 2018, it’s been a top choice for crypto companies. It’s perfect for fintech experts.
Business Setup Process and Requirements
Starting a business in ADGM is easy. The process is digital and fast. You need office space and a resident secretary. But it’s worth it for the ADGM experience.
Tax Benefits and Incentives
ADGM offers great tax benefits. You get 0% corporate and income tax for 50 years. Plus, no restrictions on profit repatriation and 100% foreign ownership. This has led to a 31% growth in operational entities in Q3 2024.
With these benefits, ADGM is a great place for businesses. It’s a land of opportunity in the global market.
World-Class Infrastructure and Services
ADGM’s top-notch infrastructure is making waves in the UAE business world. It has amazing office spaces in Global Market Square with views of Abu Dhabi’s skyline. ADGM is also building a great place for businesses and people to live.
At the center is ADGM Academy. It has 12 schools for banking to blockchain. It’s helping shape finance in the area. The academy has placed hundreds of Emirati nationals in jobs, boosting local talent.
Assets under management have grown by 215% from Q3 2023 to Q3 2024. Now, 128 asset and fund managers manage 156 funds. The workforce has grown to over 25,000, with 70.81% of companies planning to hire more in 2024.
ADGM is not just about work. It’s also about living well. Abu Dhabi is the safest city in the world for five years. It’s also the most liveable in the MENA region. It has great healthcare, schools like NYU and Sorbonne, and a mix of cultures.
| Metric | Value | Growth |
|---|---|---|
| Assets Under Management | 215% increase | Q3 2023 to Q3 2024 |
| New Business Licenses | 759 | 33% YoY growth |
| Operational Entities | 2,251 | 31% YoY growth |
| Workforce Increase | 4,433 new workers | 35% increase since Q3 2023 |
With its global links and Abu Dhabi lifestyle, ADGM is becoming a top choice. It’s perfect for businesses and professionals looking for growth and a great life.
Conclusion
Abu Dhabi Global Market (ADGM) is a top spot for businesses and investors in the UAE. It offers many benefits. Setting up here means joining a growing community.
In the first half of 2024, ADGM grew fast. It saw a 31% jump in companies, reaching 2,088. This includes 231 new financial services companies.
ADGM’s growth is huge, with assets up by 226% early in 2024. It has a wide range of financial services. This includes banking, asset management, and insurance.
Its court system is based on British Common Law. This makes it attractive to international businesses. They find a stable place to grow.
ADGM is known as the fastest-growing economic hub in the Middle East and North Africa. It’s a leader in FinTech and sustainability. The UAE hosted COP28 in 2023.
For businesses wanting to grow, ADGM is the best choice. It offers a chance to succeed in the UAE’s dynamic market.
