Sovereign Group is one of the largest corporate services providers in the UAE and Abu Dhabi office is the 3rd office in the region since the first regional establishment in 1998. At Sovereign Abu Dhabi, we have been offering our clients an opportunity to establish a foothold in the Emirate’s diversifying economy by designing the legal structure of the business in their best interest.
About Abu Dhabi
Abu Dhabi city is the capital of the United Arab Emirates. The largest and wealthiest of the seven Emirates, the Emirate of Abu Dhabi occupies over 85 percent of the UAE’s landmass and is home to 95% of the oil and 92 % of the United Arab Emirate’s gas reserves. However, the real story of Abu Dhabi is far broader than oil and gas.
Economy – Abu Dhabi is experiencing rapid growth, breath-taking diversification and strategic liberalization of the economy. Abu Dhabi’s gross domestic product (GDP) stands at $149 billion in 2009. According to 2009 economic data released by Statistics Center – Abu Dhabi, the Oil contribution to the GDP is at only 49% compared to 60.9% previous year. Bearing in mind Abu Dhabi Vision 2030, whereby the Emirate aims at decreasing the Oil contribution to 36% while enlarging its economic base, expanding its revenue sources, the 2009 Oil contribution substantiate that the Abu Dhabi Economic policies are in line with the Vision 2030.