ADGM registered entities are obliged to complete a specified number of filings on an annual basis, during the same period each year. These will more often than not fall on the anniversary of incorporation or registration of the entity.
Important Annual Filings
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.
Entities are obliged to annually renew their registration of adherence to Data Protection Regulations 2015 which set out the obligations of ADGM entities and the rights of individuals, in relation to the processing and privacy of personal data. The renewal costs US $100 and late payment could result in a fine of US $15000.
To renew your Data Protection obligations simply login to Online Registry Solution and follow the steps below:
Step 1. Access your account then select Maintain Company > Data Protection Annual Renewal.
Step 2. Confirm the details at steps 1 to 6, then finalise your declaration and click on ‘Proceed to Payment’.
Access the guidance notes click here.
Every ADGM entity has a duty to deliver annual returns within one month of the anniversary of incorporation and then on an annual basis. Filing costs US $100 and must be submitted in a timely manner or entities can face a fine of up to US $2000.
To file your Annual Return, visit ADGM’s Online Registry Solution and follow the steps below.
Step 1. Click on the Maintain Company button within the Company Details page.
Step 2. Select File Annual Return from the drop down.
Step 3. Complete all 7 steps before reviewing.
Step 4. Proceed to payment.
For more information on filing your Annual Return click here.
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.
For more information on filing your Annual Accounts click here.