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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
Did you know that you may be able to “continue” your company into Abu Dhabi Global Market (“ADGM”)?
What is continuance?
It is a legal process by which a company incorporated in one jurisdiction exits that jurisdiction and becomes governed by the laws of another jurisdiction. In other words, the company migrates from one jurisdiction to another.
Is my entity eligible to continue into ADGM?
Companies can continue into ADGM under certain circumstances. Generally, these are that:
What do you need?
If your company satisfies the above criteria, and you wish to continue your company into ADGM, some of the items you will need are:
In addition to these continuance-related documents, the company needs to satisfy ADGM’s regular company registration criteria.
The Benefits of ADGM
ADGM is an international financial free zone based in Abu Dhabi, UAE. Its goal is to develop and cement Abu Dhabi’s position as a global hub for business and finance.
Among its advantages:
Al Tamimi & Company are experts on ADGM. If you would like to learn more about how your company can continue into ADGM, or would like advice on other ADGM aspects, please contact Hassan Al Jarrah and Nasouh Raslan for advice and assistance.
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