ADGM and RAK ICC partner to strengthen inter-Emirate cooperationADGM RA 19/11/2019
The Registration Authority of Abu Dhabi Global Market (ADGM) and the Ras Al Khaimah International Corporate Centre (RAK ICC) have signed an agreement that intends to advance business operations between Abu Dhabi and Ras Al Khaimah by exchanging insights on matters of common interest and enhancing secondment opportunities in both jurisdictions.
The Statement of Co-operation (‘Agreement’) was signed by Mr. Dhaher bin Dhahr Al Mheiri, CEO of ADGM Registration Authority and Dr. Sameer Al Ansari, CEO of RAK ICC.
Through this agreement, ADGM and RAK ICC will share expertise, facilitate activities within their respective jurisdictions and assist in the continuous development of best practices for their registry functions. The agreement also highlights their shared commitment to advancing the legislative, procedural and information technology frameworks in both jurisdictions. The parties will also exchange information on public events and assist in welcoming delegates of the other Authority that wish to carry out registration activities.
Dhaher bin Dhahr Al Mheiri, CEO of ADGM Registration Authority, said: “We are pleased to enter into this agreement with RAK ICC to provide our partners with valuable business opportunities while reinforcing the vision of the UAE’s wise leadership. We continually collaborate with government entities to provide our entities with a robust pathway to conducting business across the UAE while advocating for increased inter-Emirate cooperation. This agreement is in line with our objectives as an international financial centre and is key in enhancing our entities’ exposure to various jurisdictions. We are confident that this agreement will be mutually beneficial to both our registered entities and the UAE’s business and economic repute.”
His Highness Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAK ICC, said: “We are honoured to enter this important partnership with ADGM. Having two reputable internationally focused jurisdictions in the UAE collaborate together to develop the best practices in industry will help elevate the country’s profile for global investors who are looking for an ideal and strategic destination for their companies.”
Dr. Al Ansari, said: “We have always been keen on developing relationships with other authorities that will help us deliver the best services and products to our clients. Our partnership with ADGM is founded on a common goal of continuously enhancing all areas across our respective jurisdictions to be on par with international standards, from systems and processes to technology and rules and regulations.”
The Ras Al Khaimah International Corporate Centre is a Corporate Registry entity which contributes to developing a business-friendly environment in the Emirate of Ras Al Khaimah through enhanced business processes and efficient functionality.
The Registration Authority of ADGM provides its entities with an international standard framework that ensures increased efficiency of their business operations. It assists in registrations, licence issuance and renewal of ADGM commercial licences for entities undertaking commercial activities from and within the geographical borders of ADGM.
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