ADGM Approved Auditors
ADGM recognized auditors in Dubai
Established by a UAE Federal Decree, Abu Dhabi Global Market (ADGM) operates across Al Maryah Island and Al Reem Island, covering an expansive area of 1,438 hectares, making it one of the largest financial districts in the world.
ADGM functions under the supervision of three independent authorities: the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA), and ADGM Courts. These authorities work cohesively to establish a business-friendly environment that aligns with international best practices, earning recognition from major financial centers, regulators, and associations worldwide.
About Abu Dhabi Global Market (ADGM)
With its extended jurisdiction, ADGM attracts a diverse array of businesses, financial institutions, and professional services firms. It offers a comprehensive suite of business solutions, encompassing company formation, regulatory support, dispute resolution, and access to a vibrant community of like-minded professionals.
The financial district boasts prominent landmarks such as ADGM Square, The Galleria Mall, Four Seasons Hotel Al Maryah, Rosewood Abu Dhabi Hotel, the prestigious Cleveland Clinic Hospital, and the commercial, residential, and retail outlets on Al Reem Island.
ADGM is overseen by three distinct authorities
- Registration Authority (RA): Ensures an efficient, business-friendly registration process on par with the world’s leading financial centers.
- Financial Services Regulatory Authority (FSRA): Provides a regulatory environment of the highest quality, drawing on best practices, and prioritizing fairness, efficiency, and responsiveness.
- ADGM Courts: Administers independent courts of the First Instance and of Appeal, overseeing the jurisdiction of ADGM and applying English common law.
Comparison Between Abu Dhabi Global Market (ADGM) & Dubai International Financial Centre (DIFC)
|Basis||ADGM(Abu Dhabi Global Market)||DIFC(ubai International Financial Centre)|
|Legal Structure and Relationship with Federal Law:||It operates as a free zone within the Emirate of Abu Dhabi. It is subject to Federal law, except for Federal civil and commercial laws. ADGM is expected to develop an extensive body of civil and commercial law.||Similarly, it operates within a designated geographical location. DIFC has its own civil and commercial laws, which take precedence over Federal law within the free zone. However, criminal laws of the Emirate and Federation apply in DIFC.|
|Legal Entities:||Companies can be incorporated in ADGM, allowing 100% ownership by non-UAE entities. There is a 50-year tax exemption on profits generated within ADGM. Entities not incorporated in ADGM can also operate there with a license.||DIFC allows the incorporation of companies with 100% ownership by non-UAE entities. It also offers a 50-year tax exemption on profits. Foreign companies can apply to transfer their jurisdiction of incorporation to DIFC.|
|Application of English Law:||It applies English common law and laws of England under specific regulations. ADGM law recognizes English equitable legal principles and trusts.||DIFC doesn’t directly incorporate English common law. It determines applicable law based on a hierarchy, with English law being the final fallback option.|
|Insolvency Law:||Its “Insolvency Regulations” draw heavily from UK insolvency legislation. It includes options for appointing administrators and restructuring through a “deed of company arrangement.” Cross-border insolvencies are addressed under UNCITRAL Model Law.||DIFC’s “Insolvency Law” resembles UK insolvency legislation and includes concepts like liquidation, receivership, and company voluntary arrangements. However, it doesn’t provide for administration. Foreign companies registered in DIFC can be wound up under DIFC Insolvency Law, with specific criteria.|
Why Should You Conduct Business with Abu Dhabi Global Market (ADGM)?
Choosing Abu Dhabi Global Market Free Zone for your business offers several compelling advantages:
- Low-cost business operations and affordable living expenses.
- Enhanced profitability, accelerated growth, and long-term success for businesses.
- Access to abundant oil and natural gas reserves, coupled with a strategic focus on reducing fossil fuel reliance.
- Forward-thinking economic policies that incentivize innovation and research and development.
- Well-established relationships within the financial community.
- A robust and sophisticated financial services industry.
- Political stability and security.
- A substantial global investment portfolio.
Auditing Services in Abu Dhabi Global Market (ADGM):
Auditing services are indispensable for businesses operating within Abu Dhabi Global Market (ADGM). Approved Auditors in ADGM plays a crucial role in providing an impartial and objective review of a company’s financial statements, internal controls, and related business transactions, ensuring accuracy and compliance with relevant regulations.
ADGM offers auditing services not only for companies within its free zone but also for those seeking to engage in business activities within ADGM from outside.
The ADGM recognized auditors in Dubai team comprises seasoned professionals specializing in statutory audits, risk assessments, accounting reviews, and corporate governance. They also offer guidance on regulatory compliance to assist organizations in adhering to local laws and regulations.
Choose Elevate as ADGM recognized auditors in Dubai
Elevate is one of the best Approved Auditors in ADGM, renowned for providing reliable services for over a decade. The company has developed a unique auditing methodology, making it one of the most sought-after financial auditing firms in Abu Dhabi.
To ensure utmost accuracy, each audit is conducted by highly trained professionals with extensive domestic and international experience. Regular internal reviews are conducted to maintain the highest audit quality standards at all times.
Additionally, Elevate fosters strong relationships with local stakeholders such as regulators and tax authorities, ensuring adherence to all legal requirements.