At the heart of Abu Dhabi, a centre of wealth with over a trillion dollars of assets under management, ADGM is a perfect location for Private Banking and Wealth Management entities which focus on the needs of High Net-Worth (HNW) individuals and families who demand bespoke financial services with a high degree of customised advice and personal relationship management. This includes banking services, management of assets, financial services such as insurance, estate management and tax planning with concierge services.
ADGM is a globally recognised International Financial Centre, an English common law jurisdiction with streamlined processes of doing business and a risk-based regulator with access to a large client base in the region. ADGM registered entities find a jurisdiction which maintains international best practice, facilitates access to advice and sophisticated products, a full range of structuring and holding entities, inheritance planning and management through corporate vehicles, inheritance trusts and foundations.
The UAE is a politically stable and safe country at the heart of a region with high levels of personal and family wealth. With one of the highest inflows of HNW individuals from across the world including EU, North America, GCC, China and India, there is a significant growth potential due to global macro-economic, geopolitical and tax changes, predicted to increase the amount of wealth domiciled in and managed out of the UAE.
Financial services entities are required to meet specific resource requirements, either designated as Controlled Functions, which require approval by the FSRA, or as Recognised Functions, which are appointed by the entity itself and notified to the FSRA. For more information refer to Chapters 5.3 and 5.4 in the ADGM General Rulebook (GEN).
Entities that are either required or that want to have a physical presence, will find a wide range of Grade A office space on Al Maryah Island to choose from. The ADGM team will advise regarding office requirements on a case by case basis.
Private Banking and Wealth Management is one of five Banking focused areas at ADGM. The other areas include Investment Banking, Corporate and Transaction Banking, Money Service Business and Digital Banking.
Why set up your Private Banking and Wealth Management business in ADGM
Risk-based regulator
ADGM's business-friendly and risk-based regulator welcomes engagement and helps support ideas for growing your business.
Low-cost establishment
ADGM supports a low-cost establishment and offers a product friendly, strong and innovative agenda for all asset classes required by HNWI.
Rule of law
A strong rule of law through the direct application of English common law, strong judiciary, speed of judgment facilitated by the world's first e-Courts, seat of arbitration, and a strong system of enforceability of judgments.
Full ecosystem
ADGM is proactive in establishing regulatory frameworks for new asset classes such as crypto-currencies and sustainable finance, and offers a full ecosystem of legal, accounting and professional service providers.
Flexible legal structures
Flexible legal structures, including special purpose vehicles, restricted scope companies, foundations and trusts, are fully supported.
Tax-efficient
A tax-efficient environment combined with inheritance structures such as trusts and foundations law and based on English common law, which gives you the comfort that long term planning for private banking clients can be undertaken with certainty.
Other banking solutions
Corporate and Transaction Banking
ADGM has become a hub for Transaction Banks that provide corporate treasuries, governments and institutions with day to day operational and working capital financing needs. These include corporate banking, lending, trade finance, cash management and services supporting corporate treasuries.
Investment Banking
ADGM is home to Investment Banks that provide advisory and execution services to individuals, family offices, corporates and governments. Their services include raising capital by acting as an underwriter or as an agent to issue securities (either publicly or in private placement); advice on mergers & acquisitions and market making across all asset classes.
Money Service Business
Money Service Businesses or payment services from ADGM provide clients with the ability to convert currency or transmit money to individuals and corporates across the world. This can include, but is not limited to, foreign exchange services, payment services or intermediary payment services via traditional payment methods, via the internet and mobile technology, and by using innovative Fintech solutions.
Digital Banking
The Digital Bank Licence from ADGM provides the ability to offer services in areas such as trade finance, small and medium enterprises (SME) lending and transactional accounts among others. Digital banking also promotes financial inclusion by extending services via innovative FinTech solutions to untapped, unbanked and underserved markets.
ADGM has become a hub for Transaction Banks that provide corporate treasuries, governments and institutions with day to day operational and working capital financing needs. These include corporate banking, lending, trade finance, cash management and services supporting corporate treasuries.
If you have questions or need any assistance, we're here to help.
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