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JTC’s Abu Dhabi office operates within the Abu Dhabi Global Market (ADGM), the MENA region’s pre-eminent international financial hub for business and fintech.
ADGM has a reputation for providing businesses with an excellent work infrastructure, backed by a strong independent regulator, a strong common law network and a highly qualified workforce. It was established in 2015 and is now considered one of the top financial centers in the world according to the 2022 Global Financial Centers Index (GFCI).
ADGM is a catalyst for growth as the demand for business operations and services in the region continues to increase. It provides the necessary security and high level of regulation of the financial region by global corporations such as JTC.
JTC’s stronghold at ADGM has helped the team cope with the growing popularity of services to clients and intermediaries in the region. The benefits of ADGM to clients are numerous, especially as ADGM companies/entities are based on English common law. Therefore, businesses must adhere to the same high standards as the wider global business world.
Other benefits of ADGM include zero-rated corporate income tax, no foreign ownership restrictions or profit repatriation restrictions, and no withholding tax. Popular SPV products also help provide security for clients’ investments.
ADGM continues to grow and adapt to its global service providers. In a rapidly changing financial sector, all jurisdictions must respond quickly and responsibly. Areas such as sustainable finance are gaining traction in ADGM, reflecting the region’s understanding of how companies and individuals are committed to achieving key environmental, social and governance (ESG) goals.
Well-regulated area
ADGM is well regulated with three separate bodies: the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and the ADGM Court. These regulators ensure that any business activity in the environment complies with international best practice. JTC is committed to a high level of regulation and has a large risk and compliance team dedicated to maintaining regulatory consistency across its global offices, including Abu Dhabi.
One year after the opening of the Abu Dhabi office, JTC’s position in ADGM has continued to strengthen. It is a premier destination to live and work, providing the perfect environment for financial growth. The MENA market is expected to expand further in the coming years, and JTC’s foothold in Abu Dhabi and Dubai helps keep its services competitive and well-suited to customer needs.
If you would like to know more about how ADGM and JTC Abu Dhabi office can benefit you, please contact the UAE Head, Arya Hasculi.
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