Streamlined Transfer of Work Permits and Licences to ADGM

Efforts to bolster the business sector in Abu Dhabi received a significant boost as the transfer of work permits and licenses of Al Reem Island-based companies to the Abu Dhabi Global Market (ADGM) has been streamlined. 

This initiative aims to cultivate an attractive and supportive work environment in the Capital, fostering economic growth and competitiveness.

Memorandum of Understanding:

The Ministry of Human Resources and Emiratisation (Mohre) and ADGM formally collaborated through a memorandum of understanding (MoU) signed on Friday. The agreement is poised to enhance the ease of doing business, bolster the efficiency, attractiveness, and competitiveness of the UAE labor market, and facilitate the provision of services with utmost ease and efficiency.

Advantages for Companies:

Companies acquiring an ADGM licence stand to benefit from a range of market advantages. These include applying English Commons law, tax benefits, and progressive regulations, creating an enabling environment for business growth and expansion.

Collaborative Efforts:

Highlighting the significance of collaboration, Mohre undersecretary Khalil Al Khoori emphasized the MoU’s role in establishing integration between ADGM and various government entities. This collaboration sets a precedent for creating a conducive work environment supporting the Emirate of Abu Dhabi business sector.

Value Proposition of ADGM:

Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, underscored ADGM’s value proposition, emphasizing its comprehensive and advanced ecosystem. The seamless transition for companies operating on Al Reem Island to ADGM ensures they can leverage the market’s added value.