KLOUDAC specializes in providing you with the finest alternatives for moving to the UAE and registering a company by providing you with rapid, efficient, hassle-free, and professional guidance. 

Registering  a business in Dubai is also one of the easiest methods to obtain a residence visa in the UAE. And we are a skilled group of experts with a focus on advertising. Our specialists are prepared to fulfill the demands of the customer and support the entrepreneur in launching a business in a cost-effective way by utilizing the most advanced and up-to-date accounting technologies.

Company Registration in Dubai, UAE

In Dubai there are 03 categories where a company could be registered. Mentioned below are them:

Mainland : Also known as an onshore corporation. It has been granted a license by the Department of Economic Development (DED) of the relevant emirate, allowing it to operate freely in the local market as well as outside the UAE.

Free Zone: Most entrepreneurs who want to save money on taxes choose to establish a free zone since the free zone authorities offer a variety of benefits and incentives to firms that set up shop there.

Offshore Jurisdiction: An offshore company is one that is incorporated in one jurisdiction but has its parent firm in another. There is no need for a physical office, thus this is not a branch firm. They have no physical presence in the nation in which they have chosen to incorporate as an offshore corporation.

A Mainland Firm can now be registered in the UAE as a 100% expatriate-owned company, and Free Zones and Offshore Companies can also be incorporated with 100% expatriate ownership, according to the new Cabinet Resolution 2021. 

They are, nevertheless, unique in terms of their features, corporate operations, and business laws and regulations that govern them. Clients who establish their companies in the UAE can benefit from a number of the country’s commercial benefits.

As previously mentioned, foreign investors prefer to create their company in the United States for a variety of reasons, including tax savings, increased business infrastructure, e-governance, ease of doing business, and expanded commercial opportunities.

One of the most important steps in the process of creating a successful and remarkable company in the world is the establishment of your own business. Choosing the right location and the right licensing for your company may be a tough, but necessary, process. On the mainland, offshore, and in free zones, we provide complete company formation services to start-ups, small companies, and medium-sized organizations. 

Our accounting firm in Dubai, UAE is ready to assist customers who are looking to expand their business by assisting them in choosing a suitable site, business model, understanding legal procedures, and collaborating with local governments.

Step-By-Step Process of Registering a Company in Dubai

In order to register a company in Dubai there is a process that should be followed. Below mentioned are Checklist of the steps that should be taken:

-Speak with one of our experienced business experts – one of our consultants or call the hotline listed on the home page to speak with one of our consultants. Also, feel free to ask questions, receive answers to your questions, and learn more about business registration.

-Choose your business activity – Our experts will help you to decide on the business activity and visa requirements to sum-up the total cost required.

-Get Approval of the company name – We submit all required paperwork for approval of the company name and if it’s not eligible we will help you to decide on a suitable alternative.

-Obtaining corporate records – KLOUDAC register the business online and gather all required documentation and stamps.

-Getting a Resident Visa – KLOUDAC takes on the duty of applying for your company’s immigration card as well as a resident visa in the United Arab Emirates.

-Visa stamping – Investors must go to the United Arab Emirates for a medical check and to get a residency visa issued on their passport. Once you receive your company license you will be immediately contacted so you can collect the original corporate documents. 

Opening a business and personal bank account in the United Arab Emirates – KLOUDAC collaborates with UAE banks to create corporate and personal bank accounts for our clients, making it easier for them to manage their hectic schedules.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more.

In the United Arab Emirates, e-commerce has a bright future. UAE is having one of the major B2C e-commerce sectors in the rapidly growing Middle East which will benefit you to setup your own e-commerce Business.

E-Commerce

Before moving on to setting-up an e-commerce company we should have to have an idea about what e-commerce is and what are its categories.

E-Commerce is any economical transaction that takes place digitally is known as e-commerce. This transfer could be 

• B2B – Business-to-Business
• B2C – Business-to-Consumer
• C2C – Consumer-to-Consumer
• C2B – Consumer-to-Business

The Dubai government recently announced the Dubai e-commerce Strategy, which aims to establish the city as a global logistics hub for the Middle East and boost its contribution to the local economy to AED12 billion (nearly US$3.2 billion) by 2023. The strategy includes initiatives such as attracting more foreign direct investments and lowering the cost of e-commerce activities by 23%.Moreover, setting up an e-commerce business in Dubai becomes even more easier when you consult one of KLOUDAC experts. They will guide you throughout this journey step-by-step.

How to start your own E-Commerce Business?

In order to start your own e-commerce business, you have to fulfill the below mentioned requirements:

1. Finalize your business operations 

The Dubai Economic Development (DED) maintains a list of permissible activities. You may obtain additional approvals in case a few of them are not mentioned in the list. 

2. Select a Business Location 

You can choose a location at any free trading zones or in the mainland region. 

In order to build your own e-commerce business in Dubai, you need to have a legal address. 

3. Registering a business name

You must follow all the naming convention guidelines before finalizing the name of your new e-commerce business. 

Refrain from using names / words which are unethical, controversial, or insulting anyone in any sense.

4. Applying for e-commerce license 

After fulfilling the above-mentioned requirements, you can proceed to apply for an e-commerce license. All the legal entities in the UAE are required to have a valid license to get the benefits without any compliance issues. 

5. Optimized e-commerce website 

You can host your own e-commerce website to obtain more traffic to your portal which will result in an increased number of sales. This is one of the best techniques to optimize your e-commerce business. 

More information about Business setup and company formation and Financial Feasibility Studies in Dubai, UAE.

Investments for business growth

You may take advantage of the huge opportunities available in the Middle East by establishing your new online business in the UAE. Dubai is a home to a big, well-connected population, as well as a number of government-led initiatives that will boost e-commerce growth over the next decade.

More information about Business Valuation that will help you out.

How Much Does It Cost to Open an E-Commerce Business in Dubai?

The cost will be determined by the type of license you have and the business activities you perform. For more details, please feel free to contact one of our consultants. 

Benefits of setting up a business

-There is no personal or corporation tax.

-Request a Visa

-In only a few hours, you can have your business up and running.

-There are no restrictions on obtaining work visas, and the recruiting procedure is simple.

-Get your Trade License Dubai without Office Space

-Low import duty

-With a Professional license, you will have complete ownership.

-Establish a solid relationship with local stakeholders.

-There are no trade barriers, and you may conduct business with the UAE market directly.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  

Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more. 

Economic Substance Regulation (ESR)

Cabinet Decision Number 31 of 2019 established the Economic Substance Regulations (ESR) in the United Arab Emirates. This legislation was set up to prevent unethical tax practices and other wrongdoings in the business sector. 

This legislation will prevent unethical tax tactics in international company and guarantee that firms pay the right amount of taxes in the countries where the ultimate beneficial owner is located.

Furthermore, these rules apply to all businesses, whether they are located onshore or in a free zone. These businesses must follow the rules or risk facing penalties and other consequences.

The 03 fundamental actions that a firm must do in order to ensure compliance with the Economic Substance Regulation:

1. The company should notify the appropriate authority about its business operations and if any relevant actions are being carried out by the company. There is no need to proceed to steps 2 and 3 if it is determined that the firm is not engaged in any relevant activity.
2. The second stage for those who engage in relevant activity is to conduct an economic substance test, which will determine whether or not the firm has satisfied the required criteria. The company’s management must submit a report to the appropriate authorities detailing the income generated by the relevant activity, the costs associated with it, the personnel data, and the location of the office, and the other relevant information.
3. The firm should have a sufficient number of qualified employees, as well as suitable facilities and annual operating expenditures.

Impact of ESR on Businesses

Regular and Accurate Reports 

Each activity must provide a yearly or bi-annual “economic substance return” detailing how the organization complies with substance regulations. Because the different economic substance regulations took effect on 1 January 2019 in some of the activities, reporting requirements pertaining to compliance with the economic substance rules for businesses formed prior to 1 January 2019 can begin as early as 1 July 2019.

The activities required to submit the details mentioned below:

-Banking Businesses

-Insurance Businesses

-Investment Fund Management Businesses

-Lease-Finance Businesses

-Headquarter Businesses

-Shipping Businesses

-Company Businesses

-Property Businesses

-Distribution and repair Centre Businesses

Non-compliance penalties

A penalty will be levied on the firm if it fails to comply with ESR standards. The fines’ amounts are set by the company’s economic substance regulations and are not consistent.

Companies’ liquidations and deregistration

Companies’ liquidations and deregistration

If a firm consistently fails to comply with the Economic Substance Regulations or fails to provide the required information, the entity’s license may not be renewed, and the company may be forced to liquidate. This will have a significant impact on the country’s economy.

Transparent tax information

The adoption of ESR will push the company to conduct business in a lawful and right manner. As a result, the firms will be required to furnish accurate financial data and may be subject to extra taxes.

Strong Business Competitors 

The adoption of ESR will help in the reduction of firms that engage in unethical and unlawful business activities, paving the way for companies that are better and conduct business ethically. This will assist to encourage friendly competition among the firms, which will help to boost profits.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  

Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more. 

What is Analytics?

Analytics is a process of analyzing, collecting, and studying data sets in order for auditors to make conclusions from it and use it to obtain new insights and improve strategic decision-making. In other words, analytics is a technique that auditors use to examine a company’s financial data and derive conclusions from it. 

What is Auditing in Dubai, UAE?

Auditing in Dubai, UAE is a procedure in which a person is assigned the task of reviewing and analyzing a company’s financial accounts in order to determine if they are compliant with industry standards. 

Auditors in Dubai safeguard your books of account in the businesses against a variety of frauds and assist them to avoid making poor business decisions by understanding the industry and attempting to extract the correct information from financial statements using analytics.

Different Types of Audits in Dubai, UAE

There are different types of audits. The two main types of audits are,

–Internal Audits – Which are carried out by internal parties

–External Audits –  Which are conducted by external audit firms in Dubai.

Other types of audits such as tax audits are conducted by the Federal Tax Authority (FTA).

Types of Analytics in Auditing

There are 05 major types of analytics that could be used by a Business.

1. Descriptive analytics

It’s a type of analytics that describes what happened in the past. By using the information in the past, the auditors can figure out what and where went wrong. Simply, descriptive analytics provides useful knowledge about the past, which is gathered from the analyzed data from numerous data sources.

2. Diagnostic analytics

This method is used to discover the answer to the question, “Why did this happen?” By looking at previous data or performance. Many approaches, such as data discovery , drill-down, data mining, and correlations, are used in this analysis. Because this analysis provides comprehensive insight into problems that emerge and therefore is used by some businesses.

3. Predictive analytics

Predictive business analytics use a range of statistical approaches to build models that extract data from datasets, find trends, and offer a score for a variety of organizational outcomes.

4. Prescriptive analytics  

Prescriptive analytics is about determining what action to take in order to avoid a future issue or seize the chance of a good trend. This assists the individual or businessman in determining the best course of action to pursue in order to make better judgments.

5. Optimization

After the identification of the pattern and the predictions the businesses can engage simulation techniques to test out best-case scenarios in order to optimize the business.

Benefits of Analytics in Auditing

-Analytics is the best way to analyze and understand the data by representing them in multiple statistical forms. 

-Analytics helps to make future predictions and optimize the business growth.

-Computer programs are commonly used to do analytics, making the process considerably faster and more efficient for processing huge amounts of data. 

-With the use of modern technologies and because of today’s analytical skills, an auditor can now evaluate all the data at once, ensuring that the analysis is 100 percent accurate.

-Fraud detection has become a very simple task for the auditors in Dubai, as auditor can now verify every minute transaction accurately and in a relatively short period of time, allowing for a complete check on everyone.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.  Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more.

Audit Services in Dubai

The word “audit” denotes “evaluation” in simple terms. KLOUDAC is one of the outstanding internal and external service providers in Dubai, UAE. Audit, which is conducting the official financial inspection of a company, or its accounts has become an essential task for the benefit and growth of the company.

Auditors contribute significantly to the company’s financing activities by identifying failing areas, improving the corporate governance structure, and increasing productivity.

KLOUDAC is ready to deliver you the benefits such as Identify and eliminate tasks that do not provide value, improve operating efficiency, comply with all applicable laws and regulations, Powerful internal control and business structure through our internal and external audit services in Dubai, UAE.

Audit firms in UAE with Dubai Auditors

Audit firms in Dubai, UAE offer many services where skilled and professional auditors play a major role in assessing the financial value and standing of the company.

External audit services in Dubai are required by all small and large businesses in order to meet government and authority requirements at the right time.

Since Dubai has become a center for businesses of all kinds and sizes and due to the high profits, that could be earned, many clients choose to establish their companies in Dubai, UAE. Therefore, clients from all over the world seek trustworthy audit firms in Dubai, UAE.

However, it is a must for all global and local clients to ensure that they are adhering to government guidelines and laws. Therefore, it is safer to move forward with an audit firm in Dubai, UAE for external auditing.

Why Choose an Audit Firm in Dubai, UAE?

To perform internal and external audit services in Dubai, a team of expert professionals is required to analyze the financial statements and accounts of the client company in compliance with international financial regulatory guidelines.

Audit firms contribute towards audit issues that affect the industry or the economy. The professional auditors in the audit firm take responsibility for removing non-value adding activities and maintaining compliance with laws and regulations.

Companies that successfully solve audit issues, improve the quality of their financial reporting which in turn leads the company to be one of the most outstanding companies in the world.

Major Key Types of Auditing services in Dubai

• External Audit Services in Dubai  – The inspection of a company’s financial accounts is referred to as an external audit. External audits give an independent and unbiased review of a company’s financial statements’ correctness and compliance. It can provide transparency to the shareholders and top management and also highlight issues that have occurred which may not have been brought to your attention. 

• Internal Audit Services in Dubai  – Internal auditing is the process of verifying that internal controls created by a company are implemented effectively. Internal auditors in Dubai, UAE identify the implementations of the internal controls to raise the efficiency and performance of a business. The top management of a company creates internal controls and formulates the company’s governance structure.

• Forensic Audit Services in Dubai – Forensic Audit Services include a thorough examination of records and documents in order to gather and extract evidence that may be utilized in a court of law or legal procedure against a crime or fraud. Generally, forensic auditing refers to inquiries about a business’s internal operation. This could be financial crimes, fraud detections, bribery, and misconduct. 

Accounting and Bookkeeping Services in UAE

Accounting plays a vital role in running a business. Which is responsible for the success and failure of any company.  So, Dubai, being a commercial hub, hosts a huge number of businesses, all of which require bookkeeping and financial transaction tracking.

Accounting outsourcing in Dubai is the best method to keep the books of accounts accurate, up-to-date, and error-free. KLOUDAC helps you out with all your accounting work, making your work easier and leading your company to success.

What is outsourced Accounting Service?

Outsourced Accounting is a service that provides a full accounting department experience to a company, whether it is a large corporation or a small business (SME). The accounting department is responsible for handling day-to-day transactions, payroll management, account receivable, account payable, management of financial reports, and many other services.

Why outsourced Accounting Service?

Outsourcing accounting services in Dubai avails you by providing professional assistance, reducing overhead, flexible staffing, avoiding tax penalties, maintaining accounts up to date, increasing efficiency, lowering turnaround time, and eventually increasing the profit.

Furthermore, you have full access to your books of accounts even when they are outsourced. And we provide financial statements for all the books of accounts.

In no time your company leads to one of the most outstanding companies. Since you are outsourcing your accounts for a skilled and expert accounting firm that consists of highly developed systems, highly skilled staff and consultants, cost-effective accounting services with customizations, and high-quality data presentation and reporting services.

Benefits Business can get when outsourcing

Maintaining all financial and accounting work by obeying the legal documentations of Dubai, UAE to avoiding tax penalties is not an easy task. 

Therefore, many top companies in Dubai go for outsourced Accounting Services for the benefit of their company. Given below is a list of benefits of outsourcing your accounting service:

• Cost-effective – saves your time and money by avoiding tax penalties
• Maintains Security & Confidentiality – All your financial data are secured
• Modern and advanced technologies used – Top technologies with the highest accuracy are used.
• No added cost or necessity to hire accountants – Accounting firms fulfill all your requirements in no time.
• Professional service at lower cost – Best service provided for a reasonable price
• Additional services provided – Close guidance and support.
• Easiness to contact consultants – Can be easily contacted consultants via hotline or email.
• Reduce the expense of training and the complexity of training new accountants – Can be free from interviewing, hiring, and training new accountants from time to time.

Providing guidance for optimal productivity – Proper guidance and maintenance are provided throughout the entire period. 

Reliability of Outsourcing

Outsourcing your books of accounts to a skilled accounting firm ensures to monitor all the business components including expenses, sales closed, payroll, and all minor to major investment reports. Moreover, your company can be free from full-time accountants. Furthermore, KLOUDAC being one of the most outstanding accounting firms in Dubai, UAE has been awarded XERO Gold Champion Partner Status by XERO. And KLOUDAC has over 15 years of experience in handling clients and providing them the best service.

Why Choose KLOUDAC?

KLOUDAC, being a trustworthy accounting firm in Dubai, UAE offers Outsourcing Accounting Services for the customers to identify financial indicators, proceed according to the laws in UAE, and make the right decision at the right time. Not only that we also provide step-by-step guidance and support throughout the entire period. Selecting KLOUDAC as an accounting outsourcing service takes the responsibility to avail you of all the accounting services. Out of which some major features are listed below:

• Confidentiality in Financial Data – Protect your financial records and we maintain password systems, data encryption mechanisms, and software with backup solutions. 
• Service of Accounts Reconciliation – Ensure accuracy and reconcile the accounts monthly.
• Consistent Accounting Service – File transactions are maintained on a timely basis. 
• Account Management Service with a Systematic Approach – Maintaining accounts using modern and high-accuracy technologies. 
• Timely filing of financial reports in accordance with management standards – Financial reports are submitted time to time according to the requirements of the management.

By selecting KLOUDAC as your bookkeeping partner, you get expert accounting services in the fastest time possible, given the highest confidentiality and security.

VAT Filing in Dubai

Value Added Tax (VAT) is required on the consumption of goods and services.

Tax Filing as known as VAT Filing is a mandatory procedure which should be followed by tax payable organizations in Dubai, UAE. It states how much VAT is to be paid for the FTA(Federal Tax Authority).

All taxable businesses in Dubai are required to file a VAT return. The company will receive a Tax Registration Number (TRN) after applying for VAT registration and completing the VAT registration procedure. Normally, the standard tax duration three months.

VAT Calculation Process

Dubai is one of the countries who charge the lowest VAT rates. Which is of 5%.  

            VAT = Output Tax – Input Tax

Where the output tax is the amount received by a seller as a percentage of the selling price of the product.

And the input tax is the amount charged by a customer as a percentage of the cost of products or services used to create a final product.

            Example: Assume there is a company called X and the Company X purchased raw materials for an amount of AED 100,000.

Therefore,

            Input tax = AED 250,000 x 5%

                            = AED 12,500

Company X sells the goods that were purchased. (Assuming total amount of sales = AED 500,000)

Therefore,

            Output tax = AED 500,000 x 5%

                            = AED 25,000

Total Final payable VAT  = Output Tax – Input Tax

                                        = AED 25,000 – AED 12,500

                                        = AED 12,500

Therefor the Company X has to pay only an amount of AED 12,500 as VAT for the UAE government.

VAT Filing Process in UAE

VAT filing process is completed by registering to the FTA portal and filling the VAT 201 form. VAT Filing services in Dubai are also conducted by VAT Consultants in UAE. This includes the whole process of VAT filing.

For the ease, the VAT filing process in done online. During vat filing process the registrant is required to submit the relevant document such as details of the taxable person, VAT return period, VAT on sales and expenses and many more. This does not include tax invoices.  You can make VAT filing process easier with the help of approved VAT consultants in UAE. You will find more detail under the ‘VAT consultants in UAE’ section of this article.

VAT Filing Date in UAE

All the Tax payable organizations should complete their tax payments before the deadline mentioned in the VAT Certificate. The minimum time period to file VAT returns is three months. But there are instances where the organization is forced to file VAT returns on a monthly basis.

The deadline for filing VAT Returns will be the 28th of the subsequent month following the end of the tax period.

The deadline for quarterly (3 months) VAT returns is the 28th of the subsequent month following the end of the 3 months. Moreover, all VAT-registered organizations must file their VAT returns within the timeframe set by the Federal Tax Authority (FTA).

VAT Consultants in UAE

KLOUDAC is one of the recognized VAT consultants in Dubai.

The Kloudac experts ensure that all your VAT processes are fulfilled on time. They support you with VAT accounting services from registration to deregistration in a timely manner by ensuring the FTA requirements and avoiding any penalties. They do also provide VAT Trainings.

The experts in KLOUDAC will advice each client with all the required information related to VAT Filing and they provide you the best services obeying the Federal Tax Authority(FTA) regulations.

KLOUDAC provides you with all the VAT consultant Services in Dubai by making your work easier and to run your organization smoothly without facing any penalties.

KLOUDAC Accounting Firm Dubai, UAE

KLOUDAC is a recognized accounting firms in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and certification of Xero advisor from the world leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero. 

Accounting and Bookkeeping is more convenient for the SMEs via KLOUDAC since they provide their clients with a whole package of services such as Financial Consultancy, Business setup, Audit and assurance services, Taxation services, Recognized accounting software and more.

Everyone would like to know that their money is safe and that their finances are organized properly. Hiring Accounting companies in Dubai can assist you make financial decision visibly and independently. An accountant can assist you invest your money into firm stocks and investments with regular returns to make it less of a danger for customers. An accountant can assist you decide which business ventures will be a great option for their customers to follow and might even assist their career route. They can assist you to plan your finances for the future and save more money in the procedure. Let’s talk about in more detail the major benefits of hiring an accounting firm.

Also Read :- Accounting Services In Dubai

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