UAE Launches New Financial Free Zone in Abu Dhabi

more+
less-

The federal government of the United Arab Emirates (“UAE”) has issued legislation establishing a new financial free zone in Abu Dhabi. The name of the new free zone, “Global Marketplace Abu Dhabi” (“GMAD”), serves as a statement of Abu Dhabi’s ambition for this new free zone to act as a hub for financial services.

GMAD will be based on Al Maryah Island in Abu Dhabi but will be subject to a new regulatory framework and judicial system separate to that otherwise applicable in the UAE, a move that has led to widespread comparisons with the Dubai International Financial Centre (“DIFC”) and other financial free zones in the Gulf.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© K&L Gates LLP | Attorney Advertising

Written by:

more+
less-

K&L Gates LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×