Abu Dhabi plans new financial free zone

The new free zone, to be called the Abu Dhabi World Financial Market will typically exempt companies within them from rules forbidding majority company ownership by foreigners, which is often a sticking point for firms looking to set up in the region. The island’s central business district, Sowwah Square, is already near to completion. The Abu Dhabi Securities Exchange is set to move in and the first of the buildings to be completed is almost fully occupied by companies such as Deloitte, JPMorgan and General Electric. The Federal Decree published in February lays the groundwork for a ...