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Filing of Financial Accounts
Filing of Financial Accounts

All ADGM Companies are required to file financial accounts

Updated over a week ago

All ADGM companies (even if they are SPVs without transactions) must file accounts with the Regulator. The level of detail and audit requirements are determined by the number of employees and turnover for the company, as well as its subsidiaries if it is a parent company.

Click here for our detailed information sheet. When reviewing this sheet:

  • consider if your ADGM entity a parent company? Do you need to prepare consolidated financial statements?

  • review if you are a micro, small, medium or other sized company or group for accounting purposes?

  • consider if you need to appoint an auditor? If so, contact us immediately as this needs to be done before filing the accounts.

  • pay attention to the specific requirements outlined in our information sheet, including the statements that need to be included for micro/small entities. ADGM will not accept accounts that do not comply to the guidance.

Clara's roles as the CSP is to prepare the board resolution approving the accounts and file the documents with ADGM. This is included in our annual fees. If you are required to appoint an auditor, additional fees will apply.

We are not able to advise on the contents of the accounts. You may wish to use this example balance sheet when preparing your accounts, but you should discuss its suitability and content with your accountant or advisor. If you need support preparing accounts, you can use our third-party bookkeeping service. Click here for more information.

Significant fines (in excess of USD15,000) apply for late filing and Directors can be found personally liable for late or incorrect accounts.

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