Abu Dhabi Global Market (ADGM) is in the process of licensing three aviation leasing companies – Airborne Capital Limited, Stellwagen Group and International Airfinance Corporation (IAFC).
The addition of these prominent companies to ADGM’s aviation finance and leasing sector is another milestone in Abu Dhabi’s progress to becoming a world class, dynamic aviation hub.
Dhaher Bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority, said: “We are pleased to welcome Airborne Capital, Stellwagen and IAFC to ADGM’s growing family. The interest from the three companies to join ADGM stemmed from the overall platform made available by the three authorities to provide an efficient, business-friendly and successful integration into the region.
“The aviation ecosystem established by ADGM allows companies to integrate existing operational businesses such as lessors, banks, and law firms with extensive legal structures available that are tailored to aviation financing and underpinned by English Common law” Al Mheiri added.
Another influencing factor is the distinctive tax savings offered. ADGM has 0% corporate tax and a plethora of double taxation treaties. The taxation treaties were researched and benchmarked against other global hubs by PriceWaterhouseCooper (PWC) and ADGM acquired positive results.
David Butler, Group Chief Operations Officer, Stellwagen Group, added: “Stellwagen is delighted to be working closely with the ADGM to launch a new leasing company in the near future. We see significant unique opportunities in the Gulf region for further growth.” – TradeArabia News Service