Abu Dhabi Global Market (ADGM)

Abu Dhabi Global Market (ADGM) stands tall as a premier International Financial Centre (IFC), where excellence flourishes within a community driven by forward-thinking initiatives, actively shaping the future of finance on a global scale. MS stands by your side providing comprehensive Financial and Advisory services. From compliance to taxes and accounting we handle it all, empowering you to concentrate on growing your business. With our seven years of experience in the UAE, we offer invaluable insights into local regulations, strategically positioned in ADGM.

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Let MS empower your business in ADGM

Mohammad Shafeek

Founder & Group CEO, MS

Let MS empower your business in ADGM

ADGM: Gateway to Capital of Capital

Abu Dhabi Global Market (ADGM) is a premier International Financial Centre (IFC), renowned for its adherence to 100% English common law offering clarity, stability, and confidence to businesses and investors worldwide. With Al Reem Island included, ADGM is instrumental in Abu Dhabi's vision to emerge as one of the world's largest international financial districts. ADGM offers a comprehensive suite of business solutions encompassing different legal structures, streamlined company registration and incorporation processes, regulatory guidance and oversight, efficient dispute resolution mechanisms, and access to a vibrant community of like-minded professionals. ADGM's expansion to Al Reem Island has drawn international companies to its tax-friendly jurisdiction, reinforcing its position while further establishing Abu Dhabi`'s renown as the `'Capital of Capital`'. This strategic move not only advances Abu Dhabi`'s economic diversification efforts but also elevates its standing as a leading global financial center, shaping the financial landscape through innovative and strategic initiatives.

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Are you in a hurry? reach us on +97123093344 or
info@ms-ca.com

Watch Them Say, Why MS!

Maryam Al Mansoori on how MS helped Rebound evolve & grow.

Akmal Abbas on why he endorses MS as a single-source solution provider.

Hear it from them, Stories of success.

Watch Them Say,
Why MS!

Maryam Al Mansoori on how MS helped Rebound evolve & grow.

Benefits of
Incorporating in ADGM

In October 2015, Abu Dhabi Global Market (ADGM) became fully operational, opening its doors to welcome local and international enterprises and institutions. Located in the heart of Abu Dhabi, ADGM serves as a bridge between the east-west corridor. ADGM offers a secure and efficient platform for companies and financial institutions.

Independent judicial system based on 100% English Common Law.

Seamless digital experience for services in ADGM E-Courts.

100% foreign ownership.

Broad range of commercial activities.

Favourable tax conditions, providing the opportunity to repatriate profits and capital.

Attractive tax regime and access to UAE’s excellent network of double tax treaties.

Abu Dhabi
Gateway to Success

Located in the heart of Arabia, Abu Dhabi is home to more than 200 nationalities. It aspires to be a global financial hub, a growing innovation hub, a leading energy producer, and a world-class tourist destination and cultural center. Beyond financial gains, the Emirate's commitment to sustainability enhances its appeal, ensuring long-term environmental and economic benefits. Accounting for 60% of the UAE's total economy, Abu Dhabi boasts world-class human capital across various levels and specialties, supported by a best-in-class regulatory environment. With one of the world's most diverse populations, the Emirate offers an excellent quality of life. Ranked 2nd in the MENA region and 12th in the world for ease of doing business, Abu Dhabi is an ideal location for companies and businesses to invest, innovate, and prosper.

for ease of
doing business

in the MENA region

in WEF's Global
Competitiveness Index

in the Middle East

The safest city

in the World

The smartest city

in the Middle East

Why Abu Dhabi?

Strategic Location

Situated at the crossroads of Asia, Europe, and Africa with 33% of the world just a 4-hour flight away and 80% of the world reachable with an 8-hour flight, the emirate offers world-class infrastructure and connectivity across four time zones.

Services in ADGM

Compliance

In the dynamic environment of ADGM, our Compliance Services stand as a cornerstone, offering meticulous oversight to navigate and adapt to evolving regulations...

Accounting

Accounting services in ADGM are vital for precision in financial management, regulatory compliance, and strategic decision-making. Our dedicated experts at MS, ensure accurate...

Tax

In the dynamic landscape of ADGM, tax services are crucial for businesses seeking financial efficiency and compliance. At MS, our expert tax professionals navigate the intricacies...

Client Success Stories

Prof. Jamal Sanad Al-Suwaidi

H.E. Minister

Maria Vavoulas

Former Group COO

Khalid Akhrif

Vice President

Ala Qumsieh

Co-Founder & CEO

Prof. Jamal Sanad Al-Suwaidi

H.E. Minister

United Arab Emirates

"Every member of the team is very supportive and shows exceptional dedication to this company. Their support and ability to understand our needs and the amount of effort they have put into work directly impacted us. I would highly recommend MS Group to other companies and related sectors."

Why MS
as your Service Provider in ADGM

MS in ADGM is your ideal partner. Our team is an Energetic, Passionate and Curious mix of Tax practitioners, Compliance experts, Accountants, Lawyers, Technologists & Problem solvers with diverse expertise and background. We're here for you every step of the way, from setting up your business to handling finances year-round in ADGM. With efficiency, transparency, and regulatory compliance as our guiding principles, we adopt a client-centric approach, providing an ongoing support. Choose MS in ADGM for a reliable and comprehensive support for your business needs, where expertise meets efficiency.

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 unless otherwise approved by ADGM

Is the appointment of a Data Protection Officer applicable to all entities in ADGM?

Controllers and processors must appoint a DPO where:

the processing is carried out by a public authority, except for courts acting in their judicial capacity;
the core activities of the controller or the processor consist of processing operations which, by virtue of their nature, scope and purposes, require regular and systematic monitoring of data subjects on a large scale; or
the core activities of the controller or the processor consist of processing on a large scale of special categories of personal data

What types of office spaces are available for an ADGM company on Al Reem Island? Is having a physical space mandatory in ADGM for setting up?

ADGM provides a range of office space options, including serviced offices, co- working spaces, and dedicated office suites, catering to the diverse needs of businesses. These spaces vary in size, layout, and amenities to accommodate different company sizes and requirements.

ADGM companies must take an office space either in Al Maryah Island or Al Reem Island unless they are exempted from such an office requirement based on their entity and business type.

Are AML rules applicable to all entities in ADGM?

ADGM AML rules are mandatory for Authorised Person, DNFBPs, NPOs and Representative offices . However, all ADGM entities must adhere to the AML regulations.

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.

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. The ultimate discretion of whether or not to grant extension lies with ADGM registration Authority.

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 in accordance with ADGM Companies Regulations and the Schedule of Contraventions.

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?

Annual Accounts are submitted through ADGM Online Registry Solution 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?

The definition of a beneficial owner, in relation to a company or limited liability partnership (LLP), provides for a two-fold test for identifying a beneficial owner, which is as follows:

Any person:
1. who has 25% or more direct or indirect ownership or voting rights in the company or LLP;
2. irrespective of whether a natural person is identified under subparagraph (a) above, any natural person who controls the company or LLP;
If no one is identified under paragraph 1. above, any person who holds the position of officer of the company or LLP (only applies if no beneficial owner is identified under tests 1.a) or b)).

In case of Foundations, Trusts and Partnerships, there are different criteria for determining the UBOs.

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 tomonitoring@adgm.com.

What are the lease terms and costs associated with office spaces in ADGM?

Lease terms and costs vary depending on factors such as the size of the office space, location within ADGM, amenities provided, and market conditions. Whether seeking a premium location with extensive amenities or a more cost-effective solution without compromising on quality, ADGM offers a spectrum of options to suit diverse business requirements. Businesses can negotiate lease terms tailored to their budget and long-term objectives, empowering them to secure spaces that not only meet their immediate needs but also facilitate future growth and success.

Reach out to us for all your inquiries in and around ADGM. Rest assured, our dynamic team at MS provides you with the best solutions for financial and advisory services including compliance to tax, accounting and bookkeeping.

Get the Right Guidance.

Reach out to us for all your inquiries in and around ADGM. Rest assured, our dynamic team at MS provides you with the best solutions, including assistance with ADGM incorporation and compliance in the UAE.

Get the Right Guidance.