Task:                     

[07.016-ADGM] - CORP SUPPORT # INCREASE AUTHORISED SHARE CAPITAL


Purpose:             

To be used by companies with share capital to increase the amount of its authorised share capital.


Legal Entities:   

Companies


Questions:         

1) Do we have access to the client’s entity on the KOUNTED dashboard? If not, an ORS form needs to be filed first to gain access because only users with authority over the entity can file this request.


2) Does the company have an authorised share capital?  

Pay Attention:   

1) This company is only relevant for companies that have an authorised share capital. It does not apply to Private Companies Limited by Guarantee and Private Company Unlimited without Shares. It also does not apply if the company did not enter an authorised share capital amount at the time of incorporation or removed such entry after incorporation.

                               

2) If the company’s articles of association are amended due to the increase in the amount of authorized share capital, the notice of amendment of articles of association can also be filed along with this form and additional fees will apply.


Submission:       

Online via the ADGM RA portal https://newreg.adgm.com/


Timeline:             

This document can be requested at any time after incorporation/registration.


Timeframe:   

    
KOUNTED 2-3 working days for drafting including drafting the online application


ADGM: 3 -5 working days, but the ADGM RA reserves the right to return the application for revision/further clarification, which would increase the review timeline.


Supporting documents:

·         Special resolution approving the increase of authorized share capital (ADGM prescribed template).

·         Amended Articles of Association, if applicable (note that model article template cannot be used for this purpose as it does not include any reference to share capital)

·         Special resolution approving the amendment of Articles of Association, if applicable

Applicable Legislation:   

                               

ADGM Commercial Licensing Regulations https://en.adgm.thomsonreuters.com/sites/default/files/net_file_store/ADGM1547_16481_VER20240401.pdf                               

KOUNTED Fees:

Please add the KOUNTED fees

ADGM Fees:      

USD 100/-

                              

Additional USD100/- if filing amendment of the Articles of Association is required.


Fines:   

                
Failure to file the notice on time will result to a fine of: N/A

                               

If filing amendment of the Articles of Association is required: USD 300 fine if the submission is not made within the prescribed timeframe of 14 days.



LINKED FILES: