Introduction
June 2024 was key for the Abu Dhabi Global Market (ADGM). It is the finance center of Abu Dhabi. ADGM works hard to help Abu Dhabi become one of the top places in the world for business, tech, and money. In this blog post, we will look at some big events and new things at ADGM in June 2024.
Successful LINK Event
In June 2024, ADGM hosted another successful LINK meeting. This time it was together with a company called Barrenjoey. LINK meetings give people working in ADGM a chance to meet each other, share ideas and become friends.
At the June meeting, the participants discussed opportunities to work with each other on Al Reem Island and Al Maryah Island. Networking and making new connections is important for companies because it helps them learn about new partnerships and expansion opportunities within ADGM. The June LINK event was a great platform for professionals to bond over business prospects.
Liwa Capital on Al Reem Island
One company that has seen success after ADGM expanded to Al Reem Island is Liwa Capital. They purposely decided to open their office on Al Reem Island so they could take advantage of all the new facilities available there.
By locating themselves in the busy ADGM community, Liwa Capital was able to strengthen their presence while also trying real estate options. Their smart location choice further allowed them to build important relationships that will aid future growth. Overall, being part of Al Reem Island has benefited Liwa Capital.
Al Aidarous Law Firm Joins In
Al Aidarous is a law firm that has been operating in Abu Dhabi for over 17 years. In June, they relocated their offices to Al Reem Island. This move has massively improved how connected and collaborative they are.
The shift to Al Reem Island marked the start of a fresh chapter. Now, Al Aidarous has greatly enhanced networking opportunities in various legal and financial fields. Being part of Al Reem Island’s fast-growing community encourages sharing of ideas and resources.
UAE-France Investment Discussions
In collaboration with France’s Economy Ministry, ADGM hosted the second UAE-France Investors Meetup in June 2024. Twenty-four large French asset management companies, managing a total of $1.6 trillion, attended the event.
The meetup aimed to strengthen investment ties between the two nations. Top government leaders from both countries were present and discussions were held around cooperation for mutual business growth. Events like this pave the way for valuable international partnerships.
New Digital Services Launched
ADGM introduced some exciting digital improvements in June. One was an innovative SPV Cloning feature for their online business registration system.
With just one click, applicants can now easily duplicate registration forms to streamline applying for multiple Special Purpose Vehicles. This convenient service saves time and effort for users looking to establish companies quickly in ADGM.
Improving Global Digital Rules
To ensure sustainable regulation of digital assets worldwide, ADGM signed a memorandum of understanding with Bermuda Monetary Authority regarding cryptocurrencies.
This cooperation deal between the financial authorities seeks to develop trust and properly oversee emerging technologies. Coordinated international standards provide predictability for digital finance businesses expanding globally.
Common Questions
Some frequently asked questions about operating in ADGM include:
Who is eligible to start a company?
Both Emirati citizens and foreigners can form companies. Eligibility depends on licenses needed.
What must companies follow?
Regulations relate to accounting, taxes, capital and more. Firms must submit annual reports.
What benefits are offered?
ADGM offers a business hub with expertise and no corporate/income taxes.
Conclusion
In conclusion, June 2024 proved to be a productive month at ADGM. Major networking, discussions and new services reinforced ADGM’s position as a leading financial center. Whether facilitating foreign investments or pioneering technology, ADGM consistently supports business success. It remains an excellent destination for firms seeking opportunities in Abu Dhabi.
FAQs
A. The process usually takes 2-4 weeks depending on the company type and other factors.
A. Typical licenses include a Commercial license for trading activities or Professional license for consulting services.
A. Yes, ADGM provides ready-to-move-in office options in Al Maryah Island and Al Reem Island with flexible leasing terms.
