Regulatory Alerts2024-03-25
Beneficial Ownership and Control Regulations 2022 (Consolidated Version February 2024)
The Board of Directors of the Abu Dhabi Global Market enacted these regulations to establish beneficial ownership and control systems for legal entities registered in the jurisdiction. ADGM Persons and relevant trustees are mandated to obtain, maintain, and submit accurate records of beneficial owners, nominee directors, and express trusts to the Registrar within specified timeframes. The framework further defines the Registrar's powers to administer the register, enforce compliance, and penalize offenses involving false or misleading information.
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