The United Arab Emirates has a significant need for accounting and auditing services due to its rapid economic growth and diversity. Obtaining an audit license in Dubai enables your business to assist numerous companies in accurately filing their annual audits with the UAE's tax authorities.
This offers a promising prospect for UAE-based entrepreneurs who excel in financial matters. While there are a few extra steps involved, the process of applying for a license to operate as an accountant, tax consultant, bookkeeper, or auditor remains fairly uncomplicated.
What is an Audit license in Dubai, UAE?
An Audit license enables your company to provide auditing services to other businesses. This license grants individuals the authority to offer accounting services and perform audits for companies. It's important to note that in the UAE, only licensed and officially registered auditors are permitted to conduct audit services.
Moreover, in addition to obtaining an audit license, it's essential to possess specific qualifications in your area of expertise. This typically includes having a degree in auditing, accounting, or bookkeeping. If you lack these qualifications but have relevant experience in your field, there is an option to take examinations in Dubai to enhance your eligibility for acquiring an audit business license.
Advantages of starting an audit company in Dubai
Having an accounting license in Dubai or an audit license in the UAE makes your business services highly in demand, spanning from small enterprises to large corporations. Your expertise can significantly enhance auditing and accounting departments, ensuring compliance with the UAE's financial and tax regulations.
Dubai, despite its competitiveness, boasts a growing number of businesses, all of which necessitate the services of auditors. As an entrepreneur and investor embarking on an audit business venture in the UAE, your company enjoys advantages such as:
- Exemption from capital gains tax
- World's lowest VAT rates
- No personal or corporate income tax
- Access to a thriving economy
- A high standard of living in Dubai
Audit Company Setup Locaton in Dubai, UAE
Choosing the right business structure is vital when launching a Audit firm in Dubai. The most suitable setup for your business will primarily hinge on its size and characteristics. Seeking guidance from a company formation specialist can provide valuable insights into the most appropriate strategy.
- 1. Free Zone Company: A free zone company provide advantages like a fast and straightforward setup process, continuous business assistance, and financial perks such as no taxes and no limitations on currency usage.
- 2. Mainland Company: Mainland Setting up a mainland company lets you do business in the UAE without extra hassles. However, you need a local sponsor, who's an Emirati citizen, to own 51% of the company's shares.
Audit Company Registration process in Dubai, UAE
Starting an audit company in Dubai involves a series of important steps. Following these steps will guide you in obtaining your audit license in the UAE:
As part of the application process, you need to clearly mention what your business will do on your trade license. You can only do the activities you list there. If a company does business in the UAE without the right activities on its trade license, it might get in trouble with Dubai authorities and face serious penalties.
In the UAE, there are clear rules about naming your business. Your company's name should not have any rude or disrespectful words, mention Allah or Islam inappropriately, copy famous brand names, or use shortcuts when using your own name.
Smart Zones® UAE can assist you in selecting and officially registering the name of your audit firm with the UAE's Registry Office.
After finishing the steps mentioned above, you can send your application for an audit business license to the Department of Economic Development (DED). Smart Zones® UAE can assist you with this crucial process, ensuring no mistakes, delays, or refusals occur.
After you finish the process of getting your trade license, you can then apply for your UAE residency visa. This visa allows you to live and work in Dubai. Depending on the terms of your trade license, you might also be able to sponsor visas for your family members and employees.
The last thing you need to do before you can start your audit company's operations is to open a corporate bank account. If you need guidance and support for this important task, reach out to the friendly team at Smart Zones® Dubai.
Remember that the process may vary depending on your chosen jurisdiction and business activities. Consulting legal and business experts familiar with Dubai's fintech landscape is highly recommended.
Looking for a seamless business setup experience? Trust Smart Zones® Dubai to pave the way.
Cost of starting an audit business in Dubai
Starting an audit business in Dubai can cost anywhere from AED 19,000 to AED 30,000. The total expense is influenced by various factors, including trade license expenses, accreditations, visa processing, office rent or co-working space fees, and other government charges. For a precise cost estimate, get in touch with Smart Zones® UAE's business setup consultants in Dubai. We'll provide you with a free quote and all the necessary details to assist you in understanding the process of obtaining your audit license in the UAE.
Getting a license as an auditor in Dubai, UAE
To obtain license as auditor in the UAE, you need to have the right qualifications and experience in your field. Sometimes, you might have to take an exam in the UAE to meet the requirements for getting your auditing license and becoming a registered auditor in the UAE. For additional details, you can reach out to Smart Zones® UAE, a business advisory firm in Dubai, UAE.
An Audit license enables your company to provide auditing services to other businesses. This license grants individuals the authority to offer accounting services and perform audits for companies.
Having an audit license in Dubai makes your business services highly in demand, spanning from small enterprises to large corporations. Your expertise can significantly enhance auditing and accounting departments, ensuring compliance with the UAE's financial and tax regulations.
You can choose between a Free Zone Company, which offers benefits like a fast setup process and financial perks, or a Mainland Company, which allows market access but requires a local Emirati sponsor.
The registration process involves choosing your business activity, selecting a company name, choosing a business location (Mainland or Free Zone), applying for an audit license, applying for a residency visa, and opening a corporate bank account.
Starting an audit business in Dubai can cost anywhere from AED 19,000 to AED 30,000, depending on various factors such as trade license expenses, accreditations, visa processing, and office rent.
To obtain an audit license in the UAE, you need specific qualifications in auditing, accounting, or bookkeeping. If you lack these qualifications but have relevant experience, there is an option to take examinations in Dubai to enhance your eligibility.
Want to know more, talk to Smart Zones® Dubai advisory team they will be happy to help. Ready to invest in your future?
