When opening a firm, accounting services in Dubai must be considered from the beginning. Bookkeeping, payroll management, tax advice or audit procedures are among compulsory accounting services we can provide in a professional manner for your business in Dubai, in compliance with the IFRS (International Financial Reporting Standards). Our Dubai accountants have a vast experience in this field and can offer proper services and accurate support in financial and tax matters.
Who requires accounting services in Dubai
Businessmen who want to perform their commercial activities in Dubai
Applicable accounting legislation
International Financial Reporting Standards (IFRS)
Types of accounting services we offer
- annual financial statements,
- tax returns,
- debt monitoring
Tax advice and compliance (YES/NO)
We offer support for tax registration
Our accounting firm in Dubai can offer support for tax registration.
Financial planning for company owners
Entrepreneurs can benefit from dedicated financial plans offered by our experts.
Risk assessment and evaluation
For each type of company in Dubai
Types of audit services
Tax minimization methods available
- tax credit planning,
- retirement plans,
- investments in mutual funds or trusts
Personalized financial consultancy services
Dedicated plans can be offered by our Dubai accountants.
Investment consultancy for high-net-worth individuals
Financial and analysis reports for companies
Human resources services available (YES/NO)
Expertise provided by certified accountants in Dubai (YES/NO)
Free case evaluation (YES/NO)
Clients can receive an evaluation made by our specialists. Tailored solutions are offered.
The taxation system in Dubai is favorable and a magnet for foreign investors willing to expand their activities in a solid and appreciated business market. The authorities created attractive incentives that allow foreigners to protect their assets and make more profits. Our accountants in Dubai can explain you more about the taxes in this emirate and offer proffesional tax consultancy services.
When establishing a company in Dubai, one can settle the business in the free trade zones, where complete foreign ownership is permitted in numerous areas of activities. Additionally, entrepreneurs from abroad should know that there are no taxes on dividends, royalties, interests and capital gains. There are also exceptions imposed on companies registered in the banking sector, or oil and gas industry, where different fees are imposed. Knowing properly the tax system in Dubai will help future entrepreneurs grow and develop other business projects. Furthermore if it is the case, our accounting firm in Dubai can offer tax minimization solutions for firms regardless of the domain in which they are settled.
We invite you to watch a video about our accounting services available for your company in Dubai:
Why are audits necessary for companies in Dubai?
Audits are important procedures which reveal the financial status of a firm. At our accounting firm in Dubai, you can rely on complete support and assistance offered by our independent auditors who will present the business in a fair and accurate manner regarding its finances. It is good to know that audits in Dubai will focus on the transparency between the stockholders of a company and the managers involved. Please keep in mind that even companies registered in Dubai’s free zones are required to perform audits, including the internal ones which are meant to detect any risk management or weak points; these must be made by authorised audit firms in Dubai.
Our team of experienced accountants can also offer you payroll services related to the salary processing, employees' bonuses and incentives or the management of the employees' travel expenses.
How are the annual financial reports made in Dubai?
In complete accordance with the provisions and rules mentioned by the IFRS, companies in the UAE must prepare the annual financial statements which represent a fair interpretation of the operations of a company. Information about the payments, profits, the losses, the obligations and the assets of a firm are mentioned and reported in the annual financial statement of each company in an accurate way by our auditors in Dubai.
Bookkeeping services in Dubai
The daily transactions of a firm are recorded through bookkeeping in Dubai, an important procedure which is required in any kind of business no matter if it was registered in the UAE with foreign capital or not. Bookkeeping means accurate financial transactions, invoice issuance, effective payroll which are entirely registered whether with computer applications in large companies or manually in small businesses. We remind that companies must consider the services of an accounting firm in Dubai that can offer not only professional support, but also knowledge and assistance.
What bookkeeping services do we provide?
Typical financial transactions and tasks that are involved in bookkeeping include:
• Invoicing goods or services provided to clients,
• Recording and tracking the corresponding receipts from customers,
• Recording, verifying and tracking invoices received from suppliers,
• Releasing payments to suppliers and vendors,
• Processing salaries and payouts to employees,
• Tracking and monitoring accounts receivables for companies and individuals,
• Recording and tracking asset depreciation,
• Providing adjusting entries,
• Providing financial reports.
Hiring a bookkeeping service in Dubai
Engaging with a bookkeeping service provider is about more than just finding someone who can use a calculator and understand software. You would want a full-fledged team that has the professional background, training and experience to really benefit your business. You need people whose expertise you can rely on. Ideally, you want to focus on those who have certification on off-the-shelf accounting packages, or any additional professional certifications in specific accounting software, or experience in firms that employ certified accountants in Dubai.
One of the easiest ways to secure an experienced, certified, professional bookkeeping service in Dubai is to use a professional accounting service provider. In fact, you can hire an entire team of bookkeeping staff - including an accounting software specialist, full-charge bookkeeper and controller.
Company management in Dubai
In order for a company to succeed in a certain business field, it is necessary to have a management strategy tailored to its needs. Our management specialists in Dubai can provide you with consultancy on management and business development, which will be implemented according to your business plan, in order to gain financial benefits and improve the company’s share on the Dubai market. Our team of specialists is very familiar with the business environment in Dubai and also with the legal framework applicable here and they can offer you professional financial advice.
Tax advice for your business in Dubai
Because the tax structure in Dubai is appealing to all foreign investors in this Emirate, a business is subject to several tax exemptions or other benefits, like:
there is no taxation on dividends and on capital gains for companies in Dubai;
oil and gas companies need to pay the corporate tax;
bank branches are levied with 20% tax rate on the registered incomes;
goods and services in Dubai are subject to a 5% VAT rate since January 2018;
the excise tax is imposed on non-essential products (tobacco, luxury vehicles, jewelry, beverages).
How does a financial restructuring take place in Dubai?
When companies can no longer pay their debts to creditors, a financial restructuring might be the solution, meaning that a reorganization of the assets and operations might be suggested. The company can sell the profitless assets, refinance the debts, issue new stocks or sell assets to buy stocks on the market. A financial restructuring is a serious procedure for which we suggest you talk to our Dubai accountants for in-depth support.
What types of accounting services we offer
We are compliant with the local regulatory requirements and we can provide you the accounting services in Dubai tailored to your business needs. Our company can help you organize and monitor all your accounting and legal documentation, giving you the opportunity to choose between handing us over your accounting totally or partially. We can prepare your balance sheet, income statement and notes, we can review and correct any accounting document, implement external audits, advise you on management and prognostication, strategic management like auditing, evaluation, reviews of provisional accounts.
Our team can guarantee the quality of accounting and financial information. We can help you with the preparation of individual corporate and consolidated financial statements in accordance with international and local reporting standards and regulations. We can also make forecasts, budgets and projections regarding your company’s future. We can advise you on Commercial Companies Law related matters, free zones and regulations, the import-export processes and duties.
The attributes of a chartered accountant in Dubai
Chartered accountants in Dubai or CAs are professional accountants who can work everywhere in the world within the accountancy spectrum. This is also the case of our team of accountants in Dubai who can deal with a wide range of accounting aspects for companies with establishments abroad. Tax returns, audits in Dubai, annual financial statements, and financial advising are among the services a chartered accountant in Dubai can provide.
Normally, chartered accountants in Dubai can control all the accountancy needs of a company, but many of them choose a particular specialization under which they work. Some Dubai chartered accountants only deal with audits or have experience in the tax area, being assigned to specific projects. In any case, foreign investors looking for complete accounting services can receive the support of our chartered accountant firm in Dubai. Here are extra details about our chartered accountants in Dubai:
They can perform internal and external audits for foreign companies.
Chartered accountants are qualified accountants who can be hired by company owners from abroad.
Such professionals have complete knowledge of local and international accounting laws.
Chartered accountants must meet specific practical requirements and academic skills compared to normal accountants.
Company owners interested in accounting services in Dubai can easily get in touch with us and find out more about our chartered accounting firms in Dubai. We are at your disposal with complete guidance and assistance, so feel free to talk to us and send us your requests.
How do I choose a chartered accountant in Dubai?
Chartered accountants must be Certified Public Accountants (CPA), so proof of this needs to be solicited. Moreover, when looking for a chartered accountant in Dubai, one should also check the portfolio and the experience before hiring such a professional. Recommendations and testimonials can be quite helpful in such a case. It is important to note that chartered accountants will work in complete confidentiality and transparency, in the best interest of the company. If you would like to know details about the qualifications and experience of our Dubai chartered accountants, you can address your requests to us, by phone or email, at any time.
Audits performed by our chartered accountants in Dubai
It is important to note that audits in Dubai are performed in compliance with the International Financial Reporting Standards and reveal the correct and complete financial situation of a firm in Dubai. Our chartered accountants in Dubai have experience in this area and can provide their support in a fast and reliable manner. The vulnerable sectors in a company can be detected by an audit performed by our auditors in Dubai. Working in complete transparency will lead to an accurate financial report and a set of measures that can be implemented in your company in Dubai. You can rely on the support of our chartered accountants in Dubai who can perform internal and external audits no matter where your company is registered.
Preparation of annual financial statements explained by our specialists
The annual financial statements must be submitted, respecting the international accounting and reporting standards, plus the local regulations. Our chartered accountants in Dubai can handle the tasks related to the annual financial statements, no matter the type of company you own. The balance sheet, cash flow, equity transactions, journals, and other documents will be verified when preparing the annual financial statements. This is an important part of accounting that can be accurately handled by our chartered accountants. If you are looking for the support and experience of a chartered accountant in Dubai, feel free to get in touch with our specialists.
FAQ about accounting in Dubai
1. Are accounting services necessary for companies in Dubai? Yes, companies established in Dubai need accounting services performed by specialists with experience in this field.
2. Can I ask you for providing bookkeeping and payroll services in Dubai? Yes, bookkeeping and payroll are available services we can provide. There are certain tasks that only a specialist can be in charge with.
3. Can I ask you for audits in Dubai? Yes, our team of accountants can offer complete audit services and accurate financial reports for your firm.
4. Is company management in Dubai offered? Yes, management strategies tailored to the needs of company owners are provided. A specialist needs to know the business direction and targets before offering business consultancy.
5. How are accountants certified in Dubai? Our chartered accountants are Certified Public Accountants (CPA) and have the necessary qualifications to provide a wide range of accounting services.
6. How do I choose an accountant in Dubai? In most cases, the experience will highlight the attributes of an accountant. Working with an experienced and professional accountant is a plus for your firm.
7. Are chartered accountants more valuable than regular accountants? Chartered accountants cover the same accountancy spectrum, yet they can perform their activities anywhere in the world.
8. Should I hire the services of an accounting firm in Dubai? Yes, instead of creating a whole department, you should externalize the accounting services and enjoy the benefits.
9. Can chartered accountants perform audits? Yes, chartered accountants in Dubai have experience in internal and external audits.
10. Can foreign companies hire chartered accountants in Dubai? Yes, foreign enterprises can benefit from the services of our experienced chartered accountants in Dubai.
If you are interested in accounting services which can be offered for your company in Dubai, please contact our team ofaccountants in Dubai for more information on this topic.
Meet our team from The Corporate Group (TCG) who offers a wide range of services for foreign and local entrepreneurs in Dubai. TCG was established in 2016 as a new company to manage the businesses of its subsidiaries whose founding entity was formed in 2007.