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New Abu Dhabi Free Zone Adds New Court Rules

by Lorys Charalambous, Tax-News.com, Cyprus

29 October 2015


The Abu Dhabi Global Market (ADGM), a new free zone in the United Arab Emirates, announced on October 27, 2015, that the ADGM Courts have released additional draft rules for open market consultation.

The draft rules cover judicial conduct and complaints made against judicial officers, as well as offers to settle in civil and commercial proceedings.

The 30-day public consultation period will end on November 26.

ADGM offers firms a number of benefits, including exemption from taxes guaranteed for 50 years and relaxed rules on the repatriation of profits. The zone permits 100 percent foreign ownership.

TAGS: court | United Arab Emirates | tax | tax incentives | law | tax breaks | trade | free trade zone

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