Late filing of accounts could result in significant penalties from ADGM of up to USD 15,000.

All ADGM entities are required to maintain annual accounts internally in order to be compliant with the Regulations, regardless of whether the ADGM entity has had any transactions in the financial year.

ADGM do offer the option to apply for an extension to file their annual accounts, however this will only be granted in extreme circumstances, please contact us at [email protected] for the form to apply for an extension.

Please also be advised that directors who approve annual accounts which are not accurate could also be liable to financial penalties.