Outsourced Finance Officer Service

Dubai International Financial Centre (DIFC) and Abu Dhabi Global Markets (ADGM) are governed by financial and regulatory frameworks. As part of these rules, regulated entities in the DIFC and ADGM region have to adhere to perioidic regulatory reporting. Additionally, the regulated entities also require regular monitoring of capital adequacy and liquidity positioning, which are assigned to an authorized Finance Officer who has in-depth understanding and experience of such regulatory requirements. This Finance Officer can either be an in-house or outsourced resource.

Why choose an Outsourced Finance Officer

Small and medium-sized organizations established in the DIFC and ADGM region would typically like to focus more on their core operations of business and therefore, they prefer appointing an Outsourced Finance Officer. Companies have limited expertise in regulatory compliance matters and not enough time to manage this function internally. The budget is also a significant factor in hiring a full-time in-house Finance Officer and may not be a viable option for most entities. On the other hand, appointing an Outsourced Finance Officer turns out to be cost-effective as you only spend for the time and expertise you require.

The role of a Finance Officer entails maximizing efficiencies in working and reporting systems within the legislative framework, reviewing accounting systems and procedures, and providing recommendations to the client and internal teams on finance and accounting processes. The Finance Officer needs to be focused on keeping abreast of the latest developments in the DIFC and ADGM region, prepare business plans and forecasts along with timely regulatory filings.

Our Services

• Team of qualified and experienced Finance Officers, providing services to entities registered as Category 3 and 4, who will assist you in:
  • Monitoring and adhering to capital adequacy and liquidity positioning/norms mentioned by regulators
  • Preparing and submitting quarterly and annual EPRS filings
  • Reviewing and submitting periodical management reports
  • Assisting management to prepare projections
  • Liaising with regulators and auditors
  • Assisting in DIFC Employee Workplace Savings (DEWS) compliance

• One-stop solution for other requirements such as:
  • Value Added Tax (VAT) compliances – VAT registration and return filings
  • Economic Substance Regulations (ESR) compliances – Notification and report filings
  • Data Protection Officer (DPO) support
  • DEWS monthly compliances
  • Internal audits
  • Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS)
  • International tax advisory