Question 1

What is ADGM in Abu Dhabi?

Accepted Answer

ADGM (Abu Dhabi Global Market) is Abu Dhabi's premier international financial centre, located on Al Maryah Island. It operates under English Common Law and is equivalent in prestige to DIFC in Dubai. ADGM specialises in financial services, asset management, fintech, wealth management and professional services. Setup costs from AED 28,500 with a 10–21 day processing time.

Question 2

DMCC vs ADGM — which is better?

Accepted Answer

DMCC vs ADGM: DMCC (Dubai, from AED 18,500) suits trading, commodities, fintech and general business. ADGM (Abu Dhabi, from AED 28,500) is specifically designed for regulated financial services — asset management, funds, wealth management, banking. ADGM operates under English Common Law and is preferred by financial institutions and family offices. For non-financial businesses, DMCC is the better choice.

Question 3

How do I open a corporate bank account in UAE?

Accepted Answer

To open a UAE corporate bank account: (1) choose a bank (Emirates NBD, ADCB, Mashreq, FAB, or digital banks like Wio or Pyypl), (2) prepare documents — trade license, MOA, passport copies, business plan, 6-month bank statements, (3) attend an interview with the bank manager, (4) wait for KYC approval (2–8 weeks). Having a physical office and UAE transactions strengthens approval. INCOZONE's banking team has direct relationships with major UAE banks.

Question 4

Is there corporate tax in UAE free zones?

Accepted Answer

UAE free zone companies are subject to 0% corporate tax on qualifying income under the UAE Corporate Tax Law (effective June 2023), provided they meet the Qualifying Free Zone Person (QFZP) conditions. This includes maintaining substance in the free zone, earning qualifying income, and not having taxable UAE mainland income. The standard UAE corporate tax rate of 9% applies on profits above AED 375,000 for non-qualifying businesses.

ADGM Company Formation Abu Dhabi — Financial Centre From AED 28,500

Why Choose ADGM?

ADGM vs DIFC