Business setup Abu Dhabi Global Market

1. ADGM – Non financial services Abu Dhabi Global Market (ADGM) is a broad-based international onshore Financial Centre, providing a secure and efficient platform for local, regional and international institutions to operate from. ADGM envisions bridging the gap between the world’s major financial centers from Hong Kong and London in the East to London and New York in the West. Key features ADGM’s three independent authorities – The Financial Services Regulator, The Registration Bureau and The Courts – aim to ensure a business-friendly Strategic location in the heart of Abu Dhabi * environment operating in line with international best practices that are recognised by major financial centres across the world. Purpose-built financial center * In collaboration with other International Financial Centres, global institutions Independent jurisdiction, governed by ADGM Courts and regulators, Abu Dhabi Global Market will develop and support member * institutions with the regulatory framework, legal jurisdiction and attractive business environment they need for sustainable business growth. Full range of financial activities * ADGM is now open for registration of non-financial services and retail Integrated community * activities. Full Free Zone benefits *

2. ADGM – The value proposition ADGM takes a fresh look at how financial centers should be…and is a key pillar of Abu Dhabi’s Economic Vision Recommended for any retail/ service activity that wishes to cater to a high- growth financial centre… © KPI Business Advisors & Consultants 2

3. ADGM is the first purpose- built financial free zone in Abu Dhabi… Strategic location Dollar- denominated ADGM offers all free zone •Ability to mortgage your premises to a bank or benefits, with the added financing company. advantage of being located In addition to this, companies can within Abu Dhabi… avail benefits from the extensive FREE ZONE BENEFITS network of double-tax avoidance treaties that the United Arab •100% foreign ownership. Emirates has signed with countries worldwide, including •0% corporate tax for 50 years countries such as India, Pakistan, (a concession that is Singapore, China, Malaysia, renewable). Canada, Germany, Italy, Austria •No restriction on capital and Holland. repatriation. Abu Dhabi offers the additional •0% import or re-export benefits of a very high standard duties. of living and a vibrant expatriate A wide range of non- financial and retail services are available for licensing… community with people from •0% personal income tax. over 180 nations living and •No currency restrictions. working in the region. •No restriction on foreign talent or employees. © KPI Business Advisors & Consultants 3

4. TYPES OF LICENSES DOCUMENTATION REGISTRATION AND LICENSING COSTS Non-financial services | Retail Individual Shareholder Initial Application (one time) – US$ 300 TYPES OF COMPANIES Detailed CV & personal KYC of Name Reservation – US$ 200 shareholders & management Private Company Limited by Shares Application for registration of a Detailed Business Plan Branch of Foreign Company company/partnership – US$ 1,500 Evidence of lease of office space (corporate shareholding is allowed) Issuance of Commercial License – US$ 4,000 Other statutory documentation OFFICE BEARERS and declarations viz. application Business Activity Fee* – US$ 4,000(upto 10 activities) forms, specimen signatures etc. Two Directors Corporate Shareholder One Company Secretary *not applicable for retail companies VISAS Corporate KYC duly attested FACILITIES OFFERED from the UAE Embassy Based on size of facility availed, Commercial Offices – from 800 sq.ft usually around 80 sq.ft. per visa. Detailed CV & personal KYC of and minimum US$ 85 per sq.ft. shareholders & management Business Centres – from US$ 30,000 Board Resolution calling for the per annum for a 3-member setup establishment of the entity Other statutory documentation and declarations viz. application forms, specimen signatures etc. TAXATION No corporate tax or capital gains, no personal income tax or any other tax levied by the authority. FINANCIAL STATEMENT AUDIT | BUSINESS CONSULTING | MARKET ENTRY STRATEGIES | CORPORATE SERVICES | ENTERPRISE RISK MANAGEMENT | BUSINESS PROCESSES & KPI’s | CFO SERVICES | ERP IMPLEMENTATION Enabling Performance. Discovering Value © KPI Business Advisors & Consultants 4

5. ABOUT KPI another Audit firm in Dubai, one of the emerging market leaders. The KPI, an Audit and Advisory firm in firm transformed into a valued Dubai, as a practice has more than business partner in the GCC and Mr. two decades of heritage that we are Kamath headed the Consulting proud of; one that has seen economic Practice in the merged entity. highs and lows, along with the rise of Dubai and United Arab Emirates to In December 2011, the practice was international prominence. spun off from the merged entity and re-branded as KPI. Kamath Auditing was formed in the year 1992 in the UAE. The firm grew KPI is an independent member of quickly in fame among clients and GMN International, an association of the industries it operated in. In carefully selected professional KPI has a pedigree and a sound track record of consistency in providing advice tailored to your needs… addition to regular audits, clients accounting firms established and approached the firm for many respected in their own countries. advisory and consulting activities for GMN International has 70 offices in feasibility studies, due diligence, more than 32 countries across market research and valuation Europe, North America, South projects. America, Asia Pacific, Africa and the Middle East. In 2001, the firm was merged with Contact Us Suite 3108, The Citadel, Business Bay P.O.Box 121395, Dubai, United Arab Emirates Tel: +971 4 455 1010 Fax: +971 4 455 1011 admin@kpi-global.com DISCLAIMER While every effort has been made to ensure that the most recent and pertinent information is available on this site, it is possible that some of this information may have changed after it was posted here. Please note that this information does not constitute legal or professional advice. Please write to us at admin@kpi- global.com for the latest information and appropriate advice. GMN International is an association of legally independent accounting and business advisory firms. Each firm is a separate and independent legal entity and as such has no liability for the acts or omissions of any other associate firm. GMN International is the brand name for GMNI Coordination Limited (GMNICL), a UK company limited by guarantee which provides coordination services to its members. GMNICL does not provide, supervise or manage services to clients and is not responsible or liable for the acts or omissions of any of its members nor can it control the exercise of their professional judgment or bind them in any way. Services are delivered to clients by the members of GMNICL. GMN International is an association and does not fall within the definition of "network" under the International Federation of Accountants (IFAC) Code of Ethics, Section 290 and the European Union Statutory Audit (revised 8th Company Law) Directive.