Today Abu Dhabi has a robust and sophisticated financial services sector with highly capitalised banks, a large concentration of institutional and private wealth and several of the world’s largest Sovereign Wealth Funds.
Abu Dhabi is amongst the top three of the largest sovereign wealth funds by assets under management in the world. Combined with Dubai & Sharjah makes the UAE the largest sovereign wealth funds by assets under management in the world.
Abu Dhabi is the capital and seat of government of the United Arab Emirates and the largest of the seven emirates. Abu Dhabi’s stable and diversified financial services sector generates 10 per cent of the Emirate’s none-oil GDP. Abu Dhabi accounts for two thirds of approximately $400 billion of the UAE’s economy and owns 9% of the world’s proven oil reserves and 5% of the world’s gas reserves. Abu Dhabi also accounts for 60% of the UAE’s investable wealth and 75% of the UAE’s total assets under management.
Today many of the UAE financial institutions – have earned their position as major players in the global financial services arena, managing substantial assets and pursuing international growth strategies. For the past four decades, Abu Dhabi has transformed itself from a desert landscape into a thriving business hub surrounded by lush residential communities. Home to many talented and skilled professionals, Abu Dhabi is a modern and vibrant metropolis rich with impressive architecture, at the forefront of global green initiatives and planning for the next generation’s transformation.
ADGM is a natural next step in Abu Dhabi’s role as a dependable and responsible participant in the global financial community. In line with Abu Dhabi’s Economic Policy, ADGM, a financial free zone, plays a pivotal role in positioning the city as a global centre for business and finance, connecting the economies of the Middle East, Africa and South Asia.
ADGM’s three independent authorities – the Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts – work collaboratively to ensure that our business-friendly environment operates in line with international best practice that is recognised by major financial centres across the world. ADGM enables 100% foreign ownership of registered entities allowing these entities to transact business within a zero percent personal and corporate income tax environment and operate within an international regulatory framework with its own independent judicial system and legislative infrastructure.
ADGM’s legislative framework directly applies Common Law. Therefore ADGM is able to offer its member institutions the same level of sophistication, certainty and flexibility in its legal and regulatory regime that is practised in various international centres such as Hong Kong, London and Singapore.Established as a broad-based financial centre, ADGM’s foundation stage centres around anchor sectors in which Abu Dhabi has its strength: private banking, wealth management and asset management, while allowing the participants the flexibility to expand their activities over time according to market demand.
Abu Dhabi Global Market, the award-winning and world’s leading international financial centre, encompasses the whole of Al Maryah Island, a 114 hectare mixed-use residential, retail, leisure, hotel and commercial destination.