Abu Dhabi Emerges as New Tax Haven for World's Wealthy
• Billionaires flocking to Abu Dhabi as a tax haven as scrutiny increases on traditional havens like Cayman Islands • Over 5,000 Special Purpose Vehicles (SPVs) now exist in Abu Dhabi Global Market (ADGM) free zone • Lack of restrictions allows Russian investors to park money in Abu Dhabi amid Western sanctions • ADGM utilizes English common law system, providing confidence to global businesses • Physical area of ADGM financial district spans two islands, making it one of world's largest