An Event-driven Filing refers to an entity’s obligations to notify the Registrar of certain changes / events that occur with regards to the registered entities. It is important for an ADGM registered entity to gain an understanding of what events trigger filing requirements and the obligations in order to avoid substantial fines.
Some examples of event-driven filings include:
- Change of company name
- Amendment of Articles of Association
- Appointment of authorised signatory
- Appointment, cessation or change in particulars of director
- Appointment, cessation or change in particulars of secretary
- Change of registered office address
- Alternative location of company’s record
- Maintain accounting reference date
- Appointment or cessation of recognised auditor
- Maintain business activities
- Change in particulars of shareholder
- Increase authorised share capital
- Allotment or transfer of shares
- Appointment, cessation or change in particulars of beneficial owner
All filings can be lodged via the Online Registry Solution.
Important Event-driven Filings
All entities have a duty to notify the Registrar of changes within 14 days of those changes occurring at a cost of US $100. All notifications must be filed in a timely manner or entities can incur a fine of US $1500.
Documents evidencing the change must be provided upon notification.
Step 1. Login to your account and select the entity you wish to amend from the dashboard.
Step 2. Navigate to the Director tab and select Maintain Director Details.
Step 3. Scroll to the end of the director details you wish to amend and select Edit Director.
Step 4. Change details of existing director and click OK.
The initial allotment of shares occurs upon incorporation with subsequent allotments may require various filing requirements. With reference to ADGM Companies Regulations 2015, Part 16 – A Company’s Share Capital, the requirements for subsequent allotments vary depending on:
- Existing new classes of shares;
- Issued to new or existing shareholders; and
- Provisions in Articles for Allotment
According to Section 514, the return of allotment by limited company must be filed within 1 month at a cost of US $100. If not filed within the time frame, a US $2000 fine will be incurred.
Supporting documents, namely the Resolution of Approving Allotment and Copy of Share Register, must be provided upon filing.
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