Regulatory Alerts2025-08-18
Guidance on Financial Statements for ADGM Qualifying Free Zone Persons
The ADGM Registration Authority issues this guidance to clarify the preparation, audit, and filing of financial statements for entities qualifying as Qualifying Free Zone Persons under UAE Corporate Tax Law. It mandates that all QFZPs must maintain audited financial statements prepared by an ADGM registered auditor to benefit from the 0% corporate tax rate, overriding standard audit exemptions for small or dormant companies. The document also outlines transitional measures, including a no-action position for certain small companies during the first fiscal period, and emphasizes strict compliance with filing deadlines to avoid penalties.
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