Accounting Services

Accounting services in ADGM are vital for precision in financial management, regulatory compliance, and strategic decision-making. Our dedicated experts at MS, ensure accurate, transparent, and streamlined accounting processes, providing businesses with the financial insights needed for sustainable growth in the dynamic ADGM landscape.
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Let MS empower your business in ADGM

Mohammad Shafeek

Founder & Group CEO, MS

Let MS empower your business in ADGM

Overview

In the dynamic business landscape of ADGM, accounting services play a pivotal role in ensuring financial stability and regulatory compliance. Our accounting services provide the support, objectivity, and knowledge businesses need to succeed within the context of an ever-changing business landscape. We understand what is required for the financial processes and ensure to comprehend the business requirements, serving each client specifically to help you achieve your financial growth. From regulatory compliance to strategic financial planning, we are your trusted partner, helping you navigate the intricate financial terrain of ADGM. 

Schedule your Appointment
Are you in a hurry? reach us on +97123093344 or
[email protected]
Accounting Services in ADGM by MS

Bookkeeping

To make informed decisions regarding Bookkeeping in ADGM, your partner should be MS.

Bookkeeping
Bookkeeping

Payroll

Precision in employee compensation, compliance, and business continuity for seamless operations.

Payroll
Payroll

Fund Accounting

Fund Accounting in ADGM: Our precision ensures investment management, compliance, and financial transparency, optimizing your success.

Fund Accounting
Fund Accounting

Foundation Accounting

Our expertise ensures accurate financial management, compliance, and strategic decision support for stability.

Foundation Accounting
Foundation Accounting
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Why MS
as your Accounting Service Provider in ADGM

The key role of accounting services in the business landscape of ADGM is not just number crunching but financial stability and regulatory compliance. MS customizes accounting procedures to match the unique needs of your company, with transparency, accuracy, and efficiency. MS is with you for managing the financial records, narrowing down the complex regulations, and helping in informed decision-making. For comprehensive Accounting Services,we are your trusted partner helping you to understand the complex financial terrain of ADGM.

Empower your business in the ever-evolving market with MS.

Frequently Asked Questions (FAQ)
Can I choose any company name for the ADGM proposed company?
The company name must be compliant with the ADGM Business and Company Name Rules. Name must not be identical or almost identical to any entity currently registered in the ADGM or any other relevant jurisdiction.
Is the appointment of a Data Protection Officer applicable to all entities in ADGM?
Regardless of the company's size, a Data Protection Officer (DPO) must be appointed if: The company is a public authority processing personal data. The company processes personal data on a large scale. The company regularly and systematically monitors individuals. The company processes special category data (e.g., medical data, biometrics, data revealing racial or ethnic origin, political beliefs/opinions, religious or philosophical beliefs) or criminal conviction data.
What is the timeframe for setting up ADGM?
The entire process typically takes 2-3 weeks, provided that all documents are submitted to ADGM. The timeline may vary subject to the provisions of any additional information /documentation requested by ADGM during the process.
Are AML rules applicable to all entities in ADGM?
All ADGM entities are subject to AML supervision. DNFBPs Designated Non-Financial Professions and FSRA regulated firms are obliged to comply with the provisions under the AML Rulebook.
Can a filing time extension be requested?
Companies should take appropriate measures to ensure that the filing date is identified, and the filing is prepared and submitted within the prescribed period.
However, if due to unforeseen circumstances or an exceptional reason the filing is delayed, a company may request the Registration Authority for the extension period.
The extension request should include all relevant information including an explanation of why the company cannot comply with the prescribed period for filing and the length of the extension being requested. Depending on the reasons and circumstances, the Registration Authority may require documentary evidence supporting the claims to be provided.
Requests for extensions should be made in writing as a letter, stamped and signed by an authorised signatory or a director of the company, and emailed to the Monitoring & Enforcement Department at [email protected]
If the Registration Authority is satisfied with the information given is sufficient for extension of time, a confirmation will be provided with the new deadline for filing.
If the request for an extension is not granted and a company fails to submit the filing on time, the company will be liable to the relevant late filing penalty. Time taken by the Registration Authority to consider an extension request that is not granted shall not be a valid reason for failing to meet the original deadline for filing.
What ensues when a fine is levied?
When a company fails to deliver the accounts to the Registration Authority on time, a late filing penalty is imposed automatically.
The penalty imposed will generally be determined as per the Guide.
In case of online submission of filing via Registration Authority’s online portal, the penalty notice will be issued electronically by the portal.
In case of hard copy submission, the Registration Authority will issue a penalty notice to the company’s registered office address.
Can the fine levied be appealed?
An appeal can be made against a late filing penalty only if the company demonstrates that the circumstances are exceptional or that the fine imposed was incorrect.
The Registration Authority has very limited discretion not to collect a fine. Exceptional circumstances include unforeseen and catastrophic events that render a company unable to submit a filing.
A company should take appropriate measures to ensure that its accounts are ordinarily prepared (and audited, if required) and submitted to the Registration Authority within the prescribed period.
How to hand over annual accounts to the Registration Authority?
The easiest way to hand over the filing to the Registration Authority is through uploading the file in their online portal, available at www.registration.adgm.com
Is the appointment of a Director mandatory in ADGM? What are the requirements ?
A private company must have at least one director who is a natural person. A minimum of 2 directors are required in the case of a public company. Directors must be 18 years of age, must not be disqualified from acting as a director and must not be an undischarged bankrupt.
Is the appointment of an authorized signatory mandatory?
Yes, this is mandatory. At least one of the authorized signatories must be a UAE resident /GCC national. Emirates ID, Passport and Visa copy must be provided to ADGM during Incorporation Application. The appointment must be passed by a resolution of the incorporating shareholder/s.
Who is UBO?
Any ultimate person who holds more than 25% of ownership or control in ADGM legal entity is considered as Ultimate Beneficial Owner.
How to prevent paying a fine?
Penalties for delayed filing can be avoided by ensuring that when a filing obligation is due, all the process must be in place and filing is prepared and submitted to the relevant Registrar within the specified filing period.
What if a filing is returned?
The filings which do not meet the requirements of the Companies Regulations of the Registration Authority will be returned back for correction. For example, if the accounts are not signed by a director, or accompanied by a director’s report (if applicable).
A late filing penalty will be imposed if the filing is resubmitted after the impending date of the original filing.
What if the fine goes unsettled?
The Registration Authority treats the fine as a debt due to it, if all or any of the amount of a fine is outstanding at the end of the deadline for payment as specified in the notice.
The Registration Authority may apply to the ADGM Courts for recovery of the debt.
How to make an appeal?
An appeal must be made in writing and the letter should be addressed to the Monitoring & Enforcement Department.
The letter should include all the details of the exceptional circumstances and reasons as to why the Registration Authority should consider the appeal. The letter must be duly stamped and signed by a director or authorized signatory of the company and should be submitted by email to [email protected].

Reach out to us for all your queries.
Assuring you a best solution from the most energetic team at MS.

Get the Right Guidance.

Speak to our expert who can assist you with the processes of ADGM Setup and Compliance in the UAE.

Reach out to us for all your queries.
Assuring you a best solution from the most energetic team at MS.

Get the Right Guidance.

Speak to our expert who can assist you with the processes of ADGM Setup and Compliance in the UAE.

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  • Level 14, Al Khatem Tower,
    Abu Dhabi Global Market (ADGM),
    Al Maryah Island
    Abu Dhabi, UAE
  • Level 5, Al Neyadi Tower,
    Sheikh Rashid Bin Saeed Road
    Abu Dhabi, UAE
  • +971 23093344
  • [email protected]
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