UAE President Shaikh Khalifa Bin Zayed Al Nahyan has issued a decree establishing the Abu Dhabi Investment Council, which is expected to replace the Abu Dhabi Investment Authority. The new entity’s investments will be tax-exempted. The council shall have an independent corporate body and full civil competence, as well as financial and administrative independence.
The council will be headed by the President of the UAE and will be based in the capital but may establish branches.
