Accounting & Audit in UAE

In order to operate within the UAE, it’s crucial for all legal entities to maintain impeccable financial records and stay informed about their assets and liabilities. Our experienced team that includes professional UAE accountants is well-versed in the requirements of the local law, cost-effective accounting services in UAE, as well as the best accounting practices in the UAE regarding local and international business.

We’re happy to provide personalized support that’s tailored to your business’s specific needs, including in form of outsourcing accounting services in United Arab Emirates. Whether you require weekly, or monthly assistance, our UAE accounting experts are here to help ensure that your finances are accurate and up-to-date throughout the entire fiscal year.

To see a full scope of our accounting, FS, audit and tax-related services, please download the following offer:

If your company is registered within a UAE Free Zone, it has to to maintain accurate accounting records to effectively determine its financial status, assets, and liabilities.

Depending on the Free Zone, the financial accounts may be subject to mandatory audits and must be submitted to Free Zone competent authorities along with an auditor’s report. However, some Free Zones may not require audits at all.

It’s important to note that the company’s initial accounting period will start on the incorporation date and last no longer than 18 months. Subsequent accounting periods will last exactly 12 months from the previous period’s end-date.

To ensure compliance, the company’s financial statements must be approved by the Board of Directors. These statements must then be submitted to government bodies within 30 days.

It is true that offshore companies in the UAE are not obligated to file their financial statements with the government. However, this does not mean that they can operate without any financial record-keeping. In fact, it is mandatory for offshore companies in the UAE to maintain all documents related to their economic activities and ensure they are comprehensive enough to provide a clear financial standing of the company to its directors.

At Smart Advisors, we highly recommend our clients to keep management accounts to avoid any ambiguity or confusion surrounding the company’s finances. Management accounts are a simplified version of financial statements that not only cost less in terms of fees and time, but also provide a clear financial picture of the company.

Our team of experienced professionals is well-equipped to prepare such accounts for your offshore company in the UAE. By keeping your company’s financial records up-to-date and organized, you can avoid potential legal and financial complications in the future.

To see if your fee zone, mainland or offshore company needs to keep accounting records, prepare and submit financial statements as well as conduct an audit, please check our comparison chart:

Get Our Team’s Advice Before You Start

When it comes to planning your business in the UAE, the tax burden is a critical factor to consider. We highly recommend seeking professional advice on financial accounting in UAE to determine all potential costs and administrative complexities in advance. Choosing the right corporate structure for your business is equally important, as it will have a significant impact on your UAE company’s future operations and VAT accounting in UAE.

Our team providing tax support for businesses in UAE will be more than happy to assist you with accounting compliance in UAE. With our expert guidance, you can make informed decisions and ensure that your business is set up for long-term success in the UAE. So, why wait? Contact us today to get started!