The adaptation of the John le Carre novel will be directed by Anton Corbijn, said The Hollywood Reporter.
Andrew Bovell has adapted the screenplay, which takes place in present-day Germany, where a mysterious, near-dead half-Chechen, half-Russian man on the run arrives in the city's Islamic community desperate for help and looking to recover his late Russian father's ill-gotten fortune.
Hoffman will play chief of a covert German spy unit who works to solve the mystery of the man's identity. McAdams will play a woman who becomes involved in the international intrigue.
The project begins filming in Hamburg in September. McAdams will first shoot "About Time", a romantic comedy from "Love Actually" filmmaker Richard Curtis and she will also be seen in Terrence Malick's untitled latest project opposite Ben Affleck, Javier Bardem and Rachel Weisz.