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ADGM, Israeli Corporations Authority Sign Statement Of Cooperation

The Abu Dhabi Global Market (ADGM) Registration Authority (RA), and the Registrar of Companies in the Israeli Corporations Authority, have entered into a Statement of Co-operation (SoC) with an aim of facilitating an influx of business opportunities between both jurisdictions and enhancing their respective registration functions, the regulators said in a statement.

The MoU was signed by Dhaher bin Dhaher Al Mheiri, Chief Executive Officer of the ADGM Registration Authority, and Sigal Golan Atir, Registrar of Companies in the Israeli Corporations Authority.

The SoC will aim to promote a closer and wider partnership between Israeli and UAE businesses and companies. It will also allow sharing of professional knowledge and the provision of mutual assistance between the authorities, which is necessary to facilitate the performance of the respective registration authorities’ functions.

Commenting on the agreement, Dhaher bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority, said: "In light of the UAE’s momentous signing of the Abraham Accords, we at ADGM are pleased to partner with the Registrar of Companies in the Israeli Corporations Authority to facilitate and realise the benefits arising from the increase of joint relations these two jurisdictions. We are confident that this agreement will result in fruitful outcomes for entities residing in both the UAE and Israel, serving as a gateway to valuable expansion and investment opportunities across both thriving business hubs and the wider region.

This agreement is a further testament to ADGM’s ongoing efforts to enhance our expansive network of international partners, in which Israel is a key stakeholder. The RA’s entering of this agreement will look to leverage the synergies between our respective jurisdictions across the high potential areas such as FinTech and entrepreneurship, and as well as each jurisdiction’s progressive regulatory frameworks, to facilitate mutual growth."

The agreement was signed following an understanding of the need to enhance cooperation between the parties in light of the large volume of business expected between the two jurisdictions countries.

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