Abu Dhabi Global Market Proposes New Foundations Regime to Address Regional and Global NeedsSource: www.export-egypt.com 5/31/2017, Location: Middle East |
|
|
|
|
|
Abu Dhabi Global Market, ADGM, has issued a public consultation paper inviting feedback on its proposal to establish a legislative and regulatory framework for foundations within ADGM.
ADGM Foundations Regulations follow international best practice, including international regulatory obligations, and cater to the unique requirements of families and asset owners in Abu Dhabi, regionally and globally. Foundations regimes currently exist in many international financial centres, including common law jurisdictions that have historically relied on traditional trust structures. The new foundations framework, together with a world-class legislative and regulatory, will further complement and strengthen ADGM’s extensive corporate and legal structure offerings. The proposed ADGM foundations regime will be the first of its kind in the UAE. The proposed ADGM foundations regime is designed for individuals, families, organisations and their professional advisors seeking to efficiently manage their private wealth, safeguard their assets and enhance their succession planning in Abu Dhabi and abroad. Strategically located in Abu Dhabi and ADGM, the foundations regime has factored in the current considerations and future needs of market users. The regime is designed to provide client confidentiality, advocate appropriate governance controls, and establish asset protection mechanisms to protect the founder’s wishes and preserve the assets of the foundations. Benchmarked against the other leading global jurisdictions, including Jersey and Guernsey, the proposed features of the ADGM foundations regime include creating a new type of legal structure with its own distinct attributes which have evolved for different purposes and requirements, among others. |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
