By Tim Taylor QC King & Wood Mallesons’ Dubai Office
Abu Dhabi establishes new common law free zone – ADGM, enacting new arbitration regulations. Comparisons will be drawn with Dubai’s already well established free zone, DIFC, and the DIFC-LCIA Rules.
The ADGM is a financial free zone, established in accordance with Federal Law No 8 of 2004, Federal Decree No 15 of 2013, Cabinet Resolution No 4 of 2013, and Abu Dhabi Law No 4 of 2013. The ADGM occupies 1,680,323 sq. m on the Al Maryah Island, in the emirate of Abu Dhabi, and is a separate jurisdiction carved out of the United Arab Emirates (the “UAE”). The ADGM is not subject to UAE civil and commercial laws; instead it is modelled closely on principles of common law, and tailored to the region’s specific needs.
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