Accounting and tax

Healy Consultants’ Accounting Department can assist our Clients with their mandatory accounting and tax obligations in UAE:
tax and legal obligations in UAE

  1. A company is deemed to be UAE-resident under the following conditions:
    • it was formed in the UAE;
    • the company’s central management and administration is in the UAE, even if it was formed in another jurisdiction;
    • the company conducts business in the UAE and its voting control is in the hands of resident UAE shareholders, even though it was incorporated in another jurisdiction or its central management is in another jurisdiction;
  2. In the UAE, taxes are only levied on companies which deal in oil, gas and petrochemicals. Companies in the UAE pay no corporate or capital gains tax on worldwide-sourced income;
  3. A mandatory 5% tax on imports to mainland UAE is applicable to all trading companies, irrespective of their business activities; However, companies in free zones are exempted from import duty on goods coming into the free zone;
  4. As part of an annual obligation, all business entities are mandated to submit audited accounts to their respective Emirate authorities;
  5. UAE has signed Double Taxation Agreements (DTAs) with 66 countries, including Austria, Belgium, Canada, Indonesia, Malaysia, New Zealand and Singapore;
  6. Many strategic advantages are offered to international business people by the UAE. A successful tax planning strategy for a UAE company requires taking advantage of the country’s tax regulations and Healy Consultants’ tax experts deliver a comprehensive strategy to our Clients.

Legal and compliance

Healy Consultants Compliance Department will assist our Client in effectively discharging all legal obligations following company setup in UAE:

Company regulations

  1. While UAE corporate law allows the directors control over the daily operations of the UAE business, these individuals are still appointed by the company’s shareholders;
  2. Consequently, shareholders have the power to remove directors from their position;
  3. All resident firms must file returns with the relevant authorities, providing information about the directors and shareholders. Only the director’s information will be publicly accessible;
  4. The UAE incorporation process mandates that all companies must apply for appropriate government licenses before commencing operations. Examples includes trade license, industrial license or professional license for skills-based businesses;
  5. A UAE LLC is mandated to reserve 10% of annual profits until the reserve reaches 50% of the initial share capital;

Other considerations

  1. Intellectual property rights of foreign companies are respected in the UAE, as UAE participates in many organisations and conventions such as WIPO, WTO, PCT and WIPO Copyright Treaty;
  2. UAE business laws provide for de-registration of a resident company. This process takes approximately 6 months on average. Healy Consultants can assist our Clients with de-registering their UAE business for a fee of US$1,450;

Contact us

For additional information on our accounting and legal services in UAE, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi