31 May 2017, Abu Dhabi, UAE 

Abu Dhabi Global Market (ADGM) has issued a public consultation paper inviting public feedback on its proposal to establish a legislative and regulatory framework for foundations within ADGM.   ADGM Foundations Regulations follow international best practice, including international regulatory obligations, and cater to the unique requirements of families and asset owners in Abu Dhabi, regionally and globally.

Foundations regimes currently exist in many international financial centres, including common law jurisdictions that have historically relied on traditional trust structures. The new foundations framework, together with a world-class legislative and regulatory, will further complement and strengthen ADGM’s extensive corporate and legal structure offerings.  The proposed ADGM foundations regime will be the first of its kind in the UAE when it goes “live”.

The proposed ADGM foundations regime is designed for individuals, families, organisations and their professional advisors seeking to efficiently manage their private wealth, safeguard their assets and enhance their succession planning in Abu Dhabi and abroad. 

Strategically located in Abu Dhabi and ADGM, the ADGM foundations regime has factored in the current considerations and future needs of market users.  The regime is designed to provide client confidentiality, advocate appropriate governance controls, and establish asset protection mechanisms to protect the founder’s wishes and preserve the assets of the foundations. 

Benchmarked against the other leading global jurisdictions, including Jersey and Guernsey, the proposed features of the ADGM foundations regime include:

  • Creating a new type of legal structure with its own distinct attributes which have evolved for different purposes and requirements;

  • Protecting the confidentiality of the foundation’s arrangements;

  • Safeguarding the founder’s ability to exercise control over a foundation; and

  • Facilitating migrations from other jurisdictions to ADGM and vice versa.

The foundations regime is part of ADGM’s ongoing commitment to enhance the ecosystem and serve the needs of its stakeholders by introducing innovative and efficient business solutions. 

ADGM invites the public and industry participants to submit their comments to “Consultation Paper No. 3 of 2017” by 5 July 2017 to: 

Mail :

Consultation Paper No. 3 of 2017
Abu Dhabi Global Market Square
Al Maryah Island 
PO Box 111999 
Abu Dhabi, UAE 
Email: consultation@adgm.com

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About Abu Dhabi Global Market 
Abu Dhabi Global Market (ADGM), an international financial centre located in the capital city of the United Arab Emirates, opened for business on 21st October 2015.

In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.

ADGM’s three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, enable registered companies to conduct business in a zero-percent tax environment and operate with confidence within an international regulatory framework with its own independent judicial system and legislative infrastructure based on the Common Law.

Established by a UAE Federal Decree as a broad based financial centre, ADGM’s foundation is anchored on three of Abu Dhabi’s strategic strengths - private banking, wealth management and asset management and will continually expand its financial services in response to the needs of its businesses and marketplace.

Abu Dhabi Global Market is located on Al Maryah Island, a 114-hectare development that is home to world-class business and lifestyle facilities such as the Rosewood and Four Seasons Hotels and Residences, the first ever specialty Cleveland Clinic Hospital outside of USA, luxury retail at the Galleria Mall, and grade-A offices spaces to meet Abu Dhabi’s long-term development and economic needs. All these complement ADGM’s international financial centre position as a vibrant destination in the capital city in Abu Dhabi. For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket, @FinTechAD, #FinTechAD, and Linked : ADGM

For further enquiries, please contact: 
Joan Lew, Senior Manager, Communications
Email: joan.lew@adgm.com
Telephone: +971 2 333 8858 
Online: www.adgm.com  

© Press Release 2017