Regulatory Alerts2022-05-24
Beneficial Ownership and Control Regulations (Amendment No. 1) 2022
The Board of Directors of the Abu Dhabi Global Market enacted regulations to amend the Beneficial Ownership and Control Regulations 2022. The amendments impose strict filing deadlines, requiring ADGM Persons to submit records of beneficial owners and nominee directors within one month of establishment and to notify the Registrar of changes within 15 days. Non-compliance with these obligations results in contravention of the Regulations and subjects the entity to late filing fees and fines of up to level 4.
Share