ADGM, Indian Business Confederation Sign MoU
by Lorys Charalambous, Lowtax.net, Cyprus
10 November, 2016
The Registration Authority of Abu Dhabi Global Market, the low-tax financial center in Abu Dhabi, have signed a Memorandum of Understanding on financial sector initiatives.
ADGM and the Confederation have agreed to exchange information, and collaborate on promotional activities and areas that would enhance growth in both markets. They will also share best practices and explore bilateral business opportunities between India and the United Arab Emirates.
ADGM said the MoU reinforces Abu Dhabi's long-term positive relationship with India, adding that it underscores ADGM's commitment as an international financial center to enhance and build stronger collaborations with global financial and commercial markets and with leading business organizations.
ADGM offers a range of attractive benefits to firms, including exemption from taxes guaranteed for 50 years, and relaxed rules on the repatriation of profits. The zone permits 100 percent foreign ownership.
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