Transfer of work permits and licences of Al Reem Island-based companies to Abu Dhabi Global Market has been streamlined

The work permits and licenses of enterprises headquartered in Al Reem Island have been streamlined and transferred to Abu Dhabi Global Market (ADGM) in order to foster a business-friendly atmosphere in the Capital.

A memorandum of understanding was signed on Friday by the Ministry of Human Resources and Emiratization (Mohre) and ADGM. According to Mohre undersecretary Khalil Al Khoori, this agreement will "enhance ease of doing business, boost the efficiency, attractiveness, and competitiveness of the UAE labor market, and enable the provision of services that ensure the utmost ease and efficiency."

Businesses who are granted an ADGM license will benefit from the market's perks, which include the direct application of English Commons law, favorable tax treatment, and progressive restrictions.