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ADGM attracts Airborne Capital, Stellwagen group and IAFC, expanding the aviation financing sector in Abu DhabiADGM RA 23/01/2018
Abu Dhabi Global Market (ADGM) is in the process of licensing three aviation leasing companies, specifically Airborne Capital Limited, Stellwagen Group and International Airfinance Corporation (IAFC). The addition of these prominent companies to ADGM's aviation finance and leasing sector is another milestone in Abu Dhabi's progress to becoming a world class, dynamic aviation hub.
Dhaher Bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority remarked, "We are pleased to welcome Airborne Capital, Stellwagen and IAFC to ADGM's growing family. The interest from the three companies to join ADGM stemmed from the overall platform made available by the three authorities to provide an efficient, business-friendly and successful integration into the region."
The aviation ecosystem established by ADGM allows companies to integrate existing operational businesses such as lessors, banks, and law firms with extensive legal structures available that are tailored to aviation financing and underpinned by English Common law" Al Mheiri added.
Another influencing factor is the distinctive tax savings offered. ADGM has 0% corporate tax and a plethora of double taxation treaties. The taxation treaties were researched and benchmarked against other global hubs by PriceWaterhouseCooper (PWC) and ADGM acquired positive results.
David Butler, Group Chief Operations Officer, Stellwagen Group added "Stellwagen is delighted to be working closely with the ADGM to launch a new leasing company in the near future. We see significant unique opportunities in the Gulf region for further growth."
Additionally, ADGM will be hosting a special panel on Tuesday 23rd of January at the Shelbourne Hotel during the Airline Economics conference which takes place in Dublin. It will include a panel discussion with Airborne Capital and Stellwagen that will centre around the Middle East aviation sector and opportunities for aircraft financing and leasing in ADGM. Clifford Chance will moderate the discussion.
About Abu Dhabi Global Market:
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by UAE Federal Decree as a broad-based financial centre, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance. It serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
Based in Abu Dhabi, home to one of the world's largest sovereign wealth funds and one of the highest concentrations of high-net-worth-individuals in the world, ADGM's strategy is anchored by Abu Dhabi's key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, it enables registered financial institutions, companies and entities to thrive and operate within an international regulatory framework based on Common Law.
Since its inception, ADGM has been awarded the "Financial Centre of the Year (MENA)" for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*
As part of its mandate, ADGM oversees and governs the Al Maryah Island, a designated financial free zone covering 114-hectares of financial and commercial services including residential, retail, leisure, hotel and office developments. For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket and Linked: ADGM
* Source: The Global Investor Middle East and North Africa (MENA) Awards