Abu Dhabi: A cosmopolitan safe haven for families and businesses
18 May 2021, by ADGM's Staff Editor
Abu Dhabi is the destination of choice for investors, businesses, and families from around the world.
The United Arab Emirates ranks first regionally on the quality of life index and has taken the 24th position globally. More accurately the capital, Abu Dhabi, had implemented a series of measures that transformed the emirate into an internationally cosmopolitan destination for families to grow and investments to thrive.
Political stability and exponential economic growth have made the Emirati capital the destination of choice for global businesses and affluent investors.
Home is where the heart is
For families and individuals, the city offers top-tier services and amenities that are continuously improved to better the lives of residents. Abu Dhabi has some of the world’s most advanced and sophisticated healthcare service providers like Cleveland Clinic, in addition to state-of-the-art educational institutions like NYU Abu Dhabi, Sorbonne Abu Dhabi, and the Mohamed bin Zayed University of Artificial Intelligence.
Moreover, the city has recently ranked among the world’s 10 safest cities for 2021, giving residents and tourists peace of mind and the ability to fully enjoy the city’s endless tourist attractions and picturesque sceneries around the sand dunes or the mangroves. Add all that with a vibrant cultural and culinary scene.
In brief, the policies and strategies that are put by the government of Abu Dhabi created a closely-knit community of multinational residents, who have come to settle in a safe environment where they know their family, financial investments, and future plans are well safeguarded.
Investing in your future, never been easier
However, Abu Dhabi’s value proposition predominantly lies in its attractive incentives for investors of all sizes, multinational corporations, and entrepreneurs who are launching and growing their businesses.
The government of Abu Dhabi had set a game plan to simplify and modernize business creation in the city, allowing foreign investors to rest assured they don’t have to worry about complicated legal processes or having to wait months for permits.
Furthermore, progressive regulatory frameworks and tax rates continue to bring corporations to establish their headquarters in Abu Dhabi, where there’s an unprecedented market opportunity for several industries and verticals. Whether it’s tech entrepreneurship, real estate, tourism, or energy, the emirate of Abu Dhabi provides easy access to markets, flexible transactions, and the ability to always be at the cutting edge of progress.
Nestled in Al-Maryah Island, Abu Dhabi Global Market (ADGM), the MENA region’s most robust and active International Financial Centres was established. In only 5 years, ADGM had successfully transformed Abu Dhabi’s economy to be innovation-driven, diversified, and digital. Ultimately, ADGM’s forward-thinking model had accelerated the ease of doing business in the emirate, turning it into a bustling hub for investors, VCs, and entrepreneurs looking to develop world-changing products.
According to the World Bank’s latest ‘Doing Business’ report, the UAE ranked 16th globally on the ease of doing business ranking. The country proactively reformed regulations to match shifting market behavior and to strategically diversify the economy towards more sustainable industries. According to the same report, the UAE has the world’s fourth-best regulatory environment in the world for doing business.
The efficient regulatory environment and agile governance frameworks continue to attract multinational corporations to establish their headquarters in the city or even opt for Regional Treasury Centres.
Besides, Abu Dhabi’s prime location makes it a key player in the global market, particularly when it comes to supply-chains crossing from East to West and vice versa.
To sum things up, ADGM-registered businesses immediately join an international cohort of trailblazers and freethinkers. The community enjoys a series of benefits that makes establishing a business much easier than anywhere else in the world:
- Lowered cost of operations: Abu Dhabi hosts numerous working spaces with state-of-the-art facilities at affordable rates. Also, other operational costs such as marketing, research, or R&D are kept at a minimum especially with full-fledged government-supported initiatives providing a safety net for businesses.
- Corporate tax rate: ADGM currently offers a 0% corporate income tax rate and the UAE does not levy withholding taxes on outbound dividends, interest, and other payments.
- Geographic location: Abu Dhabi-based businesses are capable of conducting business with the East-Asian markets, as well as the European and American markets in one day. Also, being in a central location gives Abu Dhabi-based investors the advantage of being in close proximity to global financial hubs. When in Abu Dhabi, investors are always within a 4-hour flight from major Asian and European financial hubs.
- English common law: Multinational businesses often face complex regulatory obstacles while conducting cross-border transactions. However, by implementing the English common law, ADGM-registered businesses could easily resolve compliance and risk management issues.
- A lifestyle like no other: With moderate temperatures all year round, Abu Dhabi offers its residents a safe and modern city for them to invest in their future.
Visit our setting up section to learn more about establishing your business here in Abu Dhabi Global Market.
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