The ADGM SPV must attend to the following each year:
commercial licence renewal;
data protection declaration;
annual return (confirming the details regarding directors, shareholders etc are correct); and
annual accounts (the level of disclosure and requirement for audit depends on the company’s revenue).
Ongoing filing requirements also apply. For example, if there is a change of director, a director’s residential address changes or shares are allotted or transferred, a notification must be filed with the ADGM Registration Authority. Clara Formations should be notified as soon as possible as some notifications must be filed within 14 days.