ADGM Signs Agreement With South Africa's Financial Services Board
by Lorys Charalambous, Lowtax.net, Cyprus
09 August, 2016
The Abu Dhabi Global Market (ADGM), a free trade zone in the United Arab Emirates, has signed a Memorandum of Understanding (MoU) with South Africa's Financial Services Board.
The MoU will enable greater collaboration on regulatory matters and facilitate the exchange of information between the two parties, ADGM said.
The 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.
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