The Government of Abu Dhabi has approved a law amending some of the rules of the Law No (4) of 2013, concerning Abu Dhabi Global Market (ADGM).

These amendments reflect the close and collaborative partnerships that ADGM has formed with its governmental partners in Abu Dhabi, in particular with the Abu Dhabi Judicial Department (ADJD) and the Department of Economic Development (DED).

The developments will be welcomed by local and global business and investor communities. The importance of these amendments, from a commercial regulatory perspective, include: formalising the dual licensing regime created with the DED which enables ADGM entities to establish branches, subsidiaries or representative offices in Abu Dhabi without needing a place of residence outside ADGM.

It also obliges legacy entities licensed by the DED on Al Maryah Island (prior to the establishment of ADGM) to surrender their licenses and obtain an ADGM license, unless they are exempted in accordance with ADGM regulations or by a decision from the board of directors.

The majority of amendments relate to the enhancement and strengthening of ADGM’s dispute resolution framework, in particular the jurisdiction of ADGM Courts.

According to the new regulations, parties without any connection to ADGM will be able to resolve disputes at ADGM Courts. Taking advantage of Common Law Courts, which are presided over in English, will be very beneficial for many companies.

Please contact us for more details.