What happens if I miss annual filing deadlines in ADGM?
Annual accounts must be filed within 9 months of your Accounting Reference Date (ARD), or you face automatic penalties up to USD $15,000. Extensions are only granted in exceptional circumstances and must be applied for before the original deadline.
How long does the visa renewal process take and what are the costs?
ADGM visa renewal typically takes 2-3 weeks and costs approximately AED 8,000 including medical examination, Emirates ID renewal, and visa stamping. You must renew before your current visa expires to avoid overstay penalties.
Can I close my ADGM company myself or do I need a liquidator?
For simple closures, you can apply for voluntary strike-off yourself (2-3 months process for eligible companies). For liquidation or complex cases, you must appoint an ADGM-approved liquidator, which typically costs AED 15,000-50,000 depending on complexity.
What are the ongoing compliance obligations after company formation?
You must file annual accounts within 9 months of ARD, submit confirmation statements annually (AED 367 fee), maintain proper accounting records, and update beneficial ownership changes within specific timeframes. Financial services companies have additional FSRA reporting requirements.
Are there any restrictions on changing my business activities after incorporation?
You can add activities within your existing license category but cannot mix financial and non-financial activities on one license. Adding new activities requires Registration Authority approval and may involve additional fees and documentation.
What visa quotas apply and can I exceed the 1 visa per 8 sqm ratio?
Standard ratio is 1 visa per 8 sqm office space, but tech startups can get 3 visas per desk. You cannot exceed allocated quotas without expanding office space or applying for special exemptions through ADGM Authority.
How do I handle corporate tax obligations as a Qualifying Free Zone Person (QFZP)?
QFZPs pay 0% corporate tax but must still file annual returns with Federal Tax Authority within 9 months of financial year-end. You must maintain QFZP status by ensuring adequate substance requirements including qualified income thresholds and UAE economic activity.
What is ADGM Free Zone Company Setup Timeframe?
The company setup in ADGM typically takes 3-5 business days, depending on the completeness of the application and documentation.
