ADGM has successfully completed its jurisdictional expansion to integrate Al Reem Island, solidifying its position as one of the largest international financial centres globally.
This significant milestone reinforces ADGM’s commitment to establishing a world-class financial district, encompassing Al Maryah Island and Al Reem Island, which covers a combined 14.38 million square metres. The expansion to Al Reem Island has added approximately 500,000 sqm of new office space to ADGM’s jurisdiction for companies wanting to set up in the rapidly expanding financial centre.
The integration of Al Reem Island businesses to ADGM’s jurisdiction has been a remarkable success. Since the expansion was announced in April 2023, more than 600 new businesses have set up on Al Reem Island and over 500 Al Reem Island-based companies have migrated to an ADGM licence, adding a total of 1,100 new entities operating under the jurisdiction of ADGM. This achievement reflects both the confidence they place in ADGM’s governance and the strength of its value proposition and regulatory framework.
Al Reem Island also offers an abundance of world-class residential, educational, medical and lifestyle facilities. Together, as ADGM, Al Maryah and Al Reem Islands will be one of the most attractive places to live and work across financial centres worldwide.
During the transition, ADGM signed fifteen Memorandums of Understanding (MOUs) with key stakeholders, strengthening collaboration across various sectors to support growth and business continuity. To facilitate a seamless migration for Al Reem Island businesses, ADGM implemented several flexible measures and worked closely with 30+ mainland regulators and government establishments, including:
• Central Bank of the UAE (CBUAE)
• The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP).
• Ministry of Human Resources and Emiratisation (MoHRE)
• Abu Dhabi Department of Economic Development (ADDED)
• Abu Dhabi City Municipality (ADM)
As part of these agreements, collaborative efforts with ADNOC, focused on ensuring that migrating entities from Al Reem Island to ADGM’s jurisdiction retained existing registrations through ADDED’s dual licensing. They also enabled these entities to renew and issue Security Passes – permits that are issued by the National Guards to work on secure sites and critical infrastructure in Abu Dhabi. Additionally, ADGM law firms have been granted permission to continue registering lawyers with the Ministry of Justice and practising within the Abu Dhabi Judicial Department under an ADDED dual licence.
Ahmed Jasim Al Zaabi, Member of Abu Dhabi’s Executive Council & Chairman of the Abu Dhabi Department of Economic Development (ADDED) and ADGM, said, “The successful completion of the Al Reem Island expansion is a landmark achievement in our vision to establish a world-class and a progressive international financial centre. This accomplishment reflects our unwavering commitment to providing innovative and robust regulatory frameworks, a business-friendly environment, and opportunities for sustainable economic growth. The seamless integration of Al Reem Island into ADGM is a testament to the trust placed in our jurisdiction and reinforces Abu Dhabi’s economic position as a global business hub and a world class regulator. Moreover, this expansion aligns with our accelerated plans, driving greater economic opportunities and reinforcing our long-term strategic growth initiatives.”
Throughout the transition, ADGM actively engaged with stakeholders, holding over 200 client meetings, conducting 500+ client site visits, and addressing more than 300 client queries. These proactive efforts ensured a smooth transition for all affected entities.
To further enhance the ecosystem’s attractiveness, ADGM introduced an updated fee schedule, effective 1st January 2025, reducing its fees for obtaining and renewing commercial licences for non-financial and retail businesses operating within its jurisdiction, cutting costs by 50 percent or more.
ADGM is continuing to work actively with the remaining entities that still need to make the transition to ensure they align with ADGM’s regulations and that their business operations continue without disruption.
