Incorporated in ADGM and wondering on your compliances?
It is crucial to adhere to various compliance requirements. Failing to comply with these obligations can result in significant penalties. To ensure your company stays in line with the law and avoids any legal consequences, our ADGM specialized team is here to help!
Here are some of the key compliance obligations that you need to consider as an incorporated entity in ADGM:
Annual Accounts: Companies in ADGM are required to prepare annual financial statements, including profit and loss accounts, balance sheets, and cash flow statements. These financial statements must be prepared in accordance with recognized accounting standards.
Both license renewal and data protection renewal are crucial to maintaining the legal and operational validity of your business in ADGM. Failing to renew licenses or comply with data protection requirements can result in penalties and legal consequences. Therefore, it is important to keep track of the renewal dates, adhere to the renewal process, and ensure ongoing compliance with the applicable regulations. It is important to note that regulatory requirements can change over time, and it is essential to stay updated with any amendments or additions to the compliance framework. Engaging a specialized team that can assist you in fulfilling these obligations, including the preparation of financial statements, balance sheets, and other necessary documents, as well as assessing the applicability of ESR notifications and reporting, can help ensure that your company remains compliant.
Confused about your filings? connect with us!