At the moment, the UAE has over 40 multidiscipline FZs, not all of which have their own legislation.
Abu Dhabi Global Market became the first jurisdiction in the Middle East to adopt the common law. The representatives say that this approach makes ADGM a preferred destination for foreign companies.
The common law recognizes judicial precedent as the main authority of law. The adoption of this legal system reduces the probability of legal costs and litigation, and provides greater certainty, which is important for business.
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The National, July 26, 2023