The process for annual renewal of your Commercial Licence is simple, using the Licence Renewal Application Service, available from ADGM’s online registration solution. To access our Online Registry Solution click here.
To renew the Commercial Licence please follow these steps below.
Step 1. Log into your account on the ADGM Online Registry Solution.
Step 2. Select the entity from your Dashboard.
Step 3. Select Maintain Company > Application to Renew Commercial Licence.
Step 4. Starting with the ‘General Details’ tab, review the details and if correct, please confirm and move to the next tab. NOTE: As you move through the tabs, if any details are incorrect, please save and exit the Licence Renewal service, make the correction using the relevant maintenance service and then continue with the Licence Renewal service.
Step 5. At the ‘Addresses’ tab, you will be required to upload a copy of a valid office lease agreement.
Step 6. Pay the Licence Renewal fee and submit. Payment can be made by credit card or electronic funds transfer. For payment by funds transfer, please refer to the instructions on the next page, below.
Step 7. Once the application, additional documentation (where applicable) and fees are received, the Registrar will review your application and when approved, a notification will be sent to you along with the updated Commercial Licence.
Access the guidance notes click here.
Every company formed or registered under the ADGM Companies Regulations must file a confirmation statement annually with the ADGM Registration Authority (RA).*
The purpose of the confirmation statement is to confirm that the information that the RA has about your company is correct as of the date of the confirmation statement.
*See Part 23 (Annual Confirmation of Accuracy of Information on the Register) of the Companies Regulations 2020.
Note: the confirmation statement obligation only applies to companies and limited liability partnerships (i.e. it does not apply to branches or Foundations).
Check you company's details
The type of information that you need to check and confirm in the confirmation statement includes, but is not limited to:
- The company’s registered office address;
- The type of company and its principle business activities;
- The details of the directors;
- The details of the secretary (if applicable); and
- The details of the company’s shares, share capital and shareholding.
We recommend that you check Part 23 (Annual Confirmation of Accuracy of Information on the Register) of the Companies Regulations 2020 to familiarise yourself with the requirements applicable to your company.
If you need to make changes to the details about your company (e.g., update the company’s registered office address), you will need to file the changes separately from the confirmation statement.
The fact that such changes may still be in process at the time of filing the confirmation statement does not change your obligation to file the confirmation statement on or before the deadline with the information that is accurate as of such date. This applies whether or not you have filed a change that is currently being processed by the RA.
How to file your confirmation statement
The confirmation statement must be filed electronically via the RA’s online registry solution.
To file your confirmation statement, go to the Online Registry Solutionand follow the steps below.
Step 1. Click on the Maintain Company button within the Company Details page.
Step 2. Select File Confirmation Statement from the drop down.
Step 3. Confirm the details are correct.
Step 4. Proceed to payment and submit.
Note: If you need to make changes to the details about your company (e.g., update the company’s registered office address), you will need to file the changes separately.
Fees
It costs USD 100 to file your confirmation statement.
When you need to file your confirmation statement
The confirmation statement is due annually within one month of the company’s anniversary of incorporation.
For example, a company incorporated on 15 October must file the confirmation statement by no later than 15 November of the following year (and each successive year).
When you need to file your confirmation statement
If you file your confirmation statement late, you will be fined USD 300.
Please note that the Registrar generally has no power to waive this fine.
The confirmation statement must be filed by the due date to avoid a late fine, regardless of whether you have separately filed changes to your company’s details.
Please also note that it may be an offence to confirm outdated or incorrect information where you have not taken timely or reasonable steps to update or correct this information with the Registrar.
Every ADGM entity must keep adequate accounting records, prepared in accordance with International Accounting Standards (IAS). The first Accounting Reference Period is a period of more than six months but not over 18 months from date of incorporation.
Public companies are required to lay accounts before a general meeting. Private companies are obliged to circulate a copy of accounts and reports to members when filing to the Registrar.
A company’s director must prepare the director’s report and deliver the accounts and reports required for each financial year to the Registrar (except RSCs and Foundations).
Small companies, defined with a turnover of not more than USD 13.5M and not over 35 employees, are required to file a balance sheet only. Medium-sized or general companies must submit audited accounts and a director’s report.
Note: whilst branches and Foundations must maintain accounting records, they are not required to file them annually with the Registrar.
For more information on filing your Annual Accounts click here.