Setting up Your Business with ADGM: A Step-by-Step Guide

Are you looking for a comprehensive guide to setting up your business in Abu Dhabi Global Market (ADGM)? Look no further! 

This step-by-step guide will provide you with the information you need to set up an ADGM company. From the advantages of setting up your business in ADGM to the requirements for company registration, this guide will get you started on the right track. 

So, if you are looking for an ADGM company set up, keep reading on!

Steps to Setting up Your Business with ADGM

A. Decide on What Type of Business You Would Like to Set Up 

The first step to setting up a business in Abu Dhabi Global Market (ADGM) is to decide the type of business you would like to set up. 

The ADGM offers nine different business structures including free zone companies, free zone branches, registered companies, representative offices, and others. 

Each type of business structure has its own set of advantages and disadvantages so it is important to choose the right one to suit your business needs. 

Further, you will need to consider the industry or sector your business will operate in, the type of activities you will be conducting, and the number of years you plan to be operating in ADGM.

B. Register Your Business with ADGM 

Once you have decided on the type of business you would like to set up in ADGM, the next step is to register your business with the Services such as TASC Corporate Services.  

As a licensed corporate services provider, TASC Corporate Services offers comprehensive services for setting up and registering companies in ADGM. They provide support and guidance from start to finish.

It also assists in obtaining all the necessary licenses and permits for the business, as well as obtaining the necessary visas for the staff. 

C. Secure Necessary Licenses and Permits 

Depending on the type of business you are setting up, you may need different licenses and permits, which you can choose to go with TASC Corporate Services. 

They provide a wide range of services to help you secure the necessary licenses and permits for your business. Their professionals can help you understand the licensing requirements, prepare and submit all the necessary applications, and ensure that your business is compliant.

D. Set up Your Business Premises 

Once you have secured the necessary licenses and permits, you will need to set up your business premises. TASC Corporate Services can help you find the perfect premises for your business. 

They provide a comprehensive range of services, from finding suitable properties to negotiating leases and contracts to helping you with the move-in process and ensuring that your business premises are set up by all legal and regulatory requirements.

E. Register with the Tax Office 

To set up a business in ADGM, the next step is to register with the tax office. This should be done before you start trading, as it allows you to get a unique taxpayer identification number, which is required to open a business bank account. 

Once registered, you will also be able to file your taxes and claim any tax deductions related to your business.

F. Set up Your Business Accounts 

After registering with the tax office, the next step is to set up your business accounts. This includes opening a business bank account and merchant accounts. 

These are both essential for handling payments and managing your finances. You should also consider setting up an online payment gateway and accounting software to help you keep track of your business finances.

G. Choose a Business Bank 

Choosing a business bank is an important step in setting up a business in ADGM. It is important to take the time to research and compare the different offerings of the banks, to ensure you select the bank that is right for your business needs. 

Consider the range of products and services offered, fees, customer service, and technology capabilities when selecting your bank.

H. Obtain Necessary Insurance 

It is important to obtain the necessary insurance to protect your business from potential financial losses. Consider the type of business you will be running and the risks associated with it. 

Depending on your business activities, you may need insurance for Professional Indemnity, Public Liability, and Product Liability. Ensure you understand the terms and conditions of the policy before signing.

I. Establish Your Business Brand

Setting up a business with ADGM is to establish your business brand. This includes creating a name and logo that reflects the mission and values of your company. 

You should also create a website and social media accounts to promote your business and engage with customers. 

Additionally, you should develop a consistent look and feel for your brand, such as a colour palette and font selection, to ensure a cohesive presentation across all platforms. Lastly, you should create a unique brand story that customers can relate to and remember.

Benefits of Setting up Your Business with ADGM

1. Access to an attractive tax environment: ADGM offers a zero-tax environment with no corporate or personal income tax, VAT, or capital gains tax. Companies in ADGM can also benefit from tax treaties with other countries.

2. Access to a highly skilled talent pool: ADGM has a highly educated and skilled talent pool, which makes it a great place to recruit and train employees for your business.

3. World-class regulatory framework: ADGM has a world-class regulatory framework that is designed to ensure that businesses have the legal and operational protection that they need to succeed.

4. Access to a well-developed and efficient infrastructure: ADGM provides access to a well-developed infrastructure that includes a wide range of amenities such as high-speed internet, power, and water.

5. Access to a vibrant business community: ADGM has a vibrant business community that is well-connected to the rest of the world. This makes it easier to establish business relationships and partnerships with other companies.

Conclusion 

If you’re looking for a cost-effective, stress-free way to set up your business in ADGM, TASC Corporate Services is the perfect solution. 

With their step-by-step guide, you can easily and quickly set up your company in ADGM with minimal ADGM company setup cost

With TASC Corporate Services, you can rest assured that your business is in the right hands and you’ll be able to focus on what matters – running and growing your business. 

Contact them today and let them help you set up your business in ADGM.