CorporateGovernance

Formal corporate governance codes are mandatory mainly for listed companies and certain regulated entities such as banks and insurers. Other companies are not legally required to adopt a full framework, though good governance, clear board structures, internal controls and documented policies support compliance with corporate tax, Economic Substance Regulations and audit requirements, and are increasingly expected by banks and investors.

There is no fixed fee, as the scope depends on company size, ownership structure and which policies, board arrangements or internal controls need to be built or reviewed. We assess this at a consultation and provide a written proposal before any work begins, so costs are agreed in advance.

Weak governance increases the risk of disputes between shareholders or directors, poor financial oversight, related party transactions that are not properly documented, and gaps that surface during an audit or a corporate tax review. It can also delay licence renewals where audited financial statements or clear ownership records are required.

Any company with multiple shareholders, a board of directors, related party dealings or plans to raise financing benefits from a governance framework. The exact requirements depend on legal form, whether the entity is listed or regulated, and its free zone or mainland licence conditions, so this is assessed case by case.

We typically need the memorandum and articles of association, shareholder agreements, board resolutions, organisational charts, existing internal policies if any, and details of related party transactions. Additional documents may be requested depending on the company's structure and the specific governance gaps identified.

Timelines vary with company size and how much documentation already exists. A straightforward review and policy update can take a few weeks, while building a full framework covering board charters, delegation of authority and internal controls for a larger group takes longer. Vigor confirms a timeline once the scope is agreed.