Abu Dhabi Global Market Introduces Cheap as Chips Technology Licenses
Technology startups now have the option to enter the UAE marketplace with the ability to obtain an Abu Dhabi free zone business license starting as low as USD $700. This is a great incentive for those that are looking to start a company in Abu Dhabi. Furthermore, technology startups will have a legal presence and a company trade license that is fully compliant.
Abu Dhabi Global Market (ADGM) Company License Details
This license type is applicable to technology startup companies and entrepreneurs that are looking to start a company in ADGM free zone only. A great advantage is this license will permit new companies to be eligible for up to (4) four United Arab Emirates residency visas. Additionally, this license will enable the company to complete the mandatory office rental requirements that will permit a new technology startup company to have a registered business address. The license is available through a variety of technology activities all from as little as USD $700 or AED 2,570.
ADGM free zone has introduced a new platform known as Professional Services Support Programme which is set out to help, support and develop entrepreneurs in various sectors and add value to their business all whilst improving and expanding on their skills. Professional Services Support Programme aims to cover subjects in the areas of: legal, compliance, finance, accounting and value-added tax (VAT).
The tech-start up license and Professional Services Support Programme provide tangible solutions to address setup costs, access to funding and business support,” said ADGM Registration Authority CEO Dhaher Bin Dhaher Al Mheiri. “They are only two of the many ADGM initiatives designed to help this important sector.
More Information on ADGM Free Zone
Launched in 2015, Abu Dhabi Global Market is an international financial centre in the capital of the United Arab Emirates. A financial free zone, ADGM is an Independent jurisdiction encompassing rules and regulations aligned with international best practice. Companies have access to a growing ecosystem of finance, services and talent. It is home to the world’s leading professional advisory firms.
ADGM’s three independent authorities (Registration Authority, Financial Services Regulatory Authority and the ADGM Courts) provide a holistic environment enabling registered companies to conduct business and operate with confidence as well being recognized by major financial centres across the world.
Launched in 2015, Abu Dhabi Global Market is an international financial centre in the capital of the United Arab Emirates. A financial free zone, ADGM is an Independent jurisdiction encompassing rules and regulations aligned with international best practice. Companies have access to a growing ecosystem of finance, services and talent. It is home to the world’s leading professional advisory firms.
ADGM’s three independent authorities (Registration Authority, Financial Services Regulatory Authority and the ADGM Courts) provide a holistic environment enabling registered companies to conduct business and operate with confidence as well being recognized by major financial centres across the world.
Core Sectors: ADGM is a themed free zone with core focus on financial services, holding companies, Special Purpose Vehicles and technology services.
ADGM Advantages
0% tax
No withholding of taxes or VAT
No restrictions on repatriation of profits
Growing number of double tax treaties
Modern infrastructure
English Common law jurisdiction
Wide range of available licenses
High credibility vis-à-vis with banks
Independent ADGM courts
Best-in-class independent regulatory framework
Variety of legal structures available
Fast setup process
Central location in Abu Dhabi
No office requirement if agent appointed
Sophisticated back office that are able to handle sophisticated structures
Pragmatic immigration
The advantages of an ADGM company structure combined with Abu Dhabi Government focusing on providing excellent support initiatives and a better entrepreneur ecosystem are just some of the attractive pull factors for those that are considering company formation in Abu Dhabi. The government supports such initiatives to appeal to new business startups and innovation, strengthen the economy, develop and stimulate entrepreneurial spirit.
ADGM is becoming an ideal platform for companies that are looking to startup or expand to the UAE and GCC. With the new license services and the Professional Support Programme, entrepreneurs will be able to influence top-tier ecosystems of investors, private equity firms, seek partnerships to operate and maximize their business.
