Guidance on Restricted Scope Companies
14. The Restricted Scope Company is a corporate vehicle offering a greater degree of confidentiality than other forms of corporate entity in ADGM. Restricted Scope Companies are not required to file accounts and are not required to audit their accounts. Restricted Scope Companies must file an annual return, articles, and details of their registered offices, directors and secretary (if they have one) with the Registrar.
15. Relevant Persons will know that the Restricted Scope Company is subject to less onerous corporate disclosure requirements than other forms of corporate entity due to the requirement to have "(Restricted)" in the company's name. Given that only a Restricted Scope Company's constitution and details of its registered office will be available in a public register, Relevant Persons will be required to have a bilateral dialogue with the Restricted Scope Company in accordance with the RBA to obtain any other relevant information which is needed to assess the money laundering risks to which it is exposed.
16. Evidence to be obtained in either documentary or electronic form:
a. true full name or names;
b. registered address;
c. telephone number and email address;
d. fiscal residence;
e. business activity;
f. information regarding the origin of funds;
g. information regarding the Source of Wealth/income; and
h. the latest annual report and accounts, audited where applicable.