Fintech Accounting & Tax Services in Saudi Arabia

Our Saudi fintech accounting services are designed for companies at the forefront of financial innovation in the Kingdom:

• Payment Service Providers (PSPs) & Digital Banks: Companies authorized by SAMA that handle payment processing, digital wallets, and banking services, requiring perfect reconciliation and safeguarding of funds.
• Crowdfunding & Lending Platforms: Platforms licensed by SAMA or the CMA that manage loan books, investor funds, and complex repayment schedules.
• Digital Brokerages & Wealth-Tech: Robo-advisors and investment platforms that must comply with strict CMA regulations on client asset management and reporting.
• Insurtech Companies: Startups disrupting the insurance market that need to manage premium collections, claims processing, and comply with SAMA's insurance regulations.

Specialized fintech accounting is non-negotiable from the moment you conceive your business idea. It is a prerequisite for regulatory approval and becomes critical at these stages:

• During SAMA or CMA License Application: Your application must include detailed financial projections, a business plan demonstrating financial viability, and a comprehensive compliance and risk management framework.
• When Handling Client Funds: The moment you control client assets, you fall under strict rules that require daily reconciliation, segregated accounts, and reporting to prove solvency.
• Before Your First Statutory Audit: Annual audits by a SAMA/CMA-approved auditor are mandatory. Preparing for this requires an audit-proof set of accounts from day one.
• During a Fundraising Round: Local and international investors will conduct exceptionally deep due diligence on your regulatory standing, financial controls, and compliance history. Any weakness can terminate a deal instantly.

The cost of fintech accounting reflects the extreme level of expertise, risk management, and regulatory engagement required in the Saudi market.

• Early-Stage Fintech (Pre-licensing): SAR 15,000 - SAR 35,000 per month. This covers building financial models for the regulatory application and setting up the compliant chart of accounts.
• Licensed Growth-Stage Fintech: SAR 35,000 - SAR 70,000+ per month. This involves a dedicated team for daily reconciliations, regulatory reporting to SAMA/CMA, and ongoing audit liaison.
• Virtual CFO for Fintech: Often integrated into higher-tier services, providing strategic guidance on regulatory capital, treasury management, and relationships with partner banks.

In Saudi Arabia's fintech sector, compliance failures are existential threats.

• Regulatory Enforcement: SAMA or the CMA can impose huge fines, restrict business activities, or revoke a license entirely for breaches of their regulations.
• Client Money Breaches: Failure to properly segregate and protect client funds is a severe offense that can lead to immediate suspension and legal action against directors.
• AML Failures: Weak Anti-Money Laundering and KYC controls can result in severe penalties and the loss of essential banking relationships.
• Failed Audits: A qualified audit opinion can trigger a regulatory investigation and destroy the trust of investors, banking partners, and customers, and may lead to license revocation.

Building an in-house finance team with deep expertise in Saudi financial regulations is a massive annual investment. Finding talent with the rare combination of skills in SOCPA accounting, SAMA/CMA regulations, and technology is incredibly difficult and expensive.

Outsourcing to YourLegal's fintech finance partners provides immediate access to a team that understands the Saudi regulatory landscape. We provide the institutional-grade controls, policies, and reporting frameworks that regulators and "Big Four" audit firms expect. We don't just "do the books"; we build and manage the entire compliant financial infrastructure for your business. For a fintech startup in Saudi Arabia, this isn't a cost-saving measure—it's the only viable path to launching and scaling a regulated business successfully.