The number of private companies registered in the UAE has increased 100 times

The number of private companies registered in the business center of Abu Dhabi has grown more than 100 times since 2016, reaching 5,000, Bloomberg reports. The emirate is becoming a center of attraction for owners of large fortunes thanks to guarantees of asset protection, privacy and low taxes. Only 46 firms operated in the zone in the mid-2010s, according to M/HQ, an asset management consultancy. 

Registering in Abu Dhabi opens up the prospect for investors to obtain residency permits in the UAE and establish ties with local influential families. Business and government relations expert Sam Blatteis notes that the region's stability, proximity to the capital and strong asset protection make Abu Dhabi an attractive alternative to other financial centers. Among the companies that have opened "subsidiaries" in the Abu Dhabi zone are the organizations of Ray Dalio, founder of the largest hedge fund, Changpeng Zhao, former head of Binance, and Russian billionaire Vladimir Lisin.