Accountancy services in the UAE

We offer a comprehensive approach to doing business in the UAE. Our specialists provide accounting services, help to open accounts and obtain a crypto licence.  

For aspiring entrepreneurs, we provide a full package of company registration and follow-up services, helping to launch and develop a business in the UAE with minimal effort.

Price until 01.11.2024: from € 350

If you outsource the task of bookkeeping in UAE to professionals, you get the benefits of: 

Accounting in the UAE 

• Comprehensive business support in the UAE, including registration with the Federal Tax Authority (FTA).
• Applying for an account on the EMARA TAX PORTAL e-portal for easy management of tax liabilities.
• Obtaining a tax number and tax certificate.
• Obtaining a Value Added Tax (VAT) certificate.
• Registration with the FTA for correct filing of returns and payment of corporate tax.
• Monthly bookkeeping services including preparation of statements based on bank statements and management of accounting records.
• Filing reports with UAE tax authorities to comply with all legal requirements.

What reports to the tax authorities are prepared by the company's specialists?

Quarterly VAT reports in Dubai

Under Federal Law No. (8) of 2017 on Value Added Tax, companies in the United Arab Emirates are required to submit tax returns on a quarterly basis. In 2024, the VAT rate in Dubai is 5 per cent. 

This tax applies exclusively to transactions carried out within the UAE. Not all businesses are required to pay it: 

• companies registered in the main territory are obliged to pay VAT at the rate of 5%;
• legal entities located in the free zone and not doing business in the country are exempt from this tax.

Firms are required to pay VAT if their annual income exceeds AED 375,000. Tax returns are filed and tax is paid within 28 days after the end of each accounting period. For larger businesses, the reporting process takes place on a monthly basis. It is important to keep track of the deadlines to avoid penalties and other consequences.

Emirates Annual Corporate Profit Report

From 1 June 2023, the UAE introduced a corporate tax for businesses at a rate of 9%. It is only required to be paid by companies operating in the UAE mainland. Companies registered in free zones and working with foreign partners are exempt from paying the tax.

Corporate tax applies only to companies with income over AED 375,000 (slightly more than US$100,000) per year. Even in the absence of an obligation to pay tax, companies are required to submit a zero report, which is issued in the form of an auditor's report.

Annual audit in UAE

According to paragraph 2 of Article 27 of the Federal Law No. 2 of 2015 on Commercial Companies in the UAE, each company appoints licensed auditors to audit its financial statements. These auditors must be registered with the UAE Ministry of Economy. All organizations operating in the country are required to:

• keep accounting books;
• conduct an annual audit;
• keep records for five years.

Auditors who conduct audits are provided with access to all necessary financial documentation.

The need for an accounting audit in the UAE is determined by the place of business registration:

• for companies registered in Dubai mainland, auditing is mandatory in accordance with the current federal legislation;
• for organisations operating in free zones, the requirements vary by zone: for example, in DMCC auditing is mandatory, while in other free zones this requirement may not be required.

Although there is no obligation to conduct an audit in some FEZs, it is strongly recommended that financial statements be reviewed regularly every 6-12 months. This will help maintain order in the accounting records and eliminate potential financial risks.

Registration of companies on the Ministry of Finance portal for submission of ESR (Economic Substance Rules) notifications and reports

According to the MoF’s Guidelines on Economic Substance Regulation in the UAE, businesses must submit to the MoF an ESR notification within 6 months and an ESR report within 12 months of the end of the financial year specified in the MoA if the firm’s activities fall under the ESR list. Failure to submit the documents may result in additional administrative penalties in accordance with Cabinet Resolution No. 57 of 2020.

Company registration on the UAE Ministry of Finance portal for submitting goAML notifications and reports

The obligation to register on the portal and submit a goAML report applies only to companies with certain types of activities.

The task of accountants, auditors, lawyers and tax consultants of Intelligent Solution Group is to comprehensively help the client protect assets, think about possible risks in advance, anticipate possible errors and protect against them, and also receive high-quality accounting services in the UAE and Dubai for opening and running a business in the country.

Stages of accounting support for your business in the United Arab Emirates

We have been through this procedure many times, so we take the burden off you as much as possible and accompany you in all matters.

Additional services

payable separately

• opening a bank account;
• confirmation of the source of origin of the funds;
• company registration in Dubai or other free-zones;
• obtaining crypto licences in the UAE. 

 

Cases:

Intelligent Solution Group – it is

Registration services and company support:

• company registration;
• business relocation;
• company renewal.

International tax planning.

Banking services:

• Compliance, KYC, SOF in the bank;
• bank account opening;
• opening of accounts in non-banks (payment systems);
• confirmation of the source of funds;
• withdrawal from frozen accounts.

Licensing:

• crypto licensing;
• iGaming licensing;
• licensing of financial activities and non-banks.

Accounting services and audit for international companies.

Assistance in obtaining citizenship for investment, residence permit, residence permit, second passport.

Succession and inheritance issues for wealthy families.