Charted Accountants

Get Bank Assistance in UAE with Our Help

Bestax is a leading consultancy company in Dubai, providing Bank Assistance in UAE to many business setups. UAE is a global hub for company formation services and financial stability for startups and entrepreneurs. Bestax professionals offer complete support to companies looking for Business Setup Services, business solutions, and related requirements in this regard.

We provide comprehensive innovative support to companies setting up new businesses in the United Arab Emirates. You will get banking services in Dubai from account opening to complete banking solutions in international banking in UAE. Bestax-qualified accountants and financial advisors are trained to offer financial and offshore banking services in UAE.

UAE banking sector is fully equipped with innovative financial products for both domestic and foreign customers. It offers complete banking solutions for corporate and personal purposes with more benefits for offshore companies. These benefits may include asset protection and reduced taxes.

Bank Assistance in UAE- Account Opening

Many business entities inside the UAE and individuals from other nationalities always struggle with opening Bank accounts in UAE.

However, Bestax can help you find the best Bank Assistance in UAE to open your bank account without any hassle. With Bestax, opening a bank account in Dubai for non-residents and other corporate entities is a lot easier.

Bestax ensure that you face no issues while opening a bank account in UAE and fulfill all the mandatory requirements through the end of account creation. Whether it is about a simple reporting system, high-quality banking services, low tariffs on banking facilities, or competitive prices, we cover every aspect.

Documents Required For Bank Assistance in UAE

Bestax Bank Assistance in UAE service provides hassle-free account opening and operating support to numerous FreeZone companies. Our affinity with UAE bankers, helps you easily open an account and manage it effectively. We also proved to be helpful in arranging Business or Personal loans for startups, business expansions, or other entrepreneurs.

Here is the list of documents required for opening accounts

  • Passport Copy
  • Proof of residence anywhere
  • Proof of Business anywhere (if the beneficiary has any current Business)
  • If it is a trading business, provide information of 3 suppliers & 3 buyers.
  • Brief Profile of Owner (CV)

Opening an account and submitting documents is a complex process. Therefore, you can rely on Bestax Bank assistance service in UAE and focus more on the core activities of your business.

How Bestax Helps You with Bank Assistance in UAE?

Bestax-qualified chartered accountants and financial advisors provide complete assistance with company formation services, VAT, and Corporate Tax services. With our Bank Assistance Dubai, you get professional guidance in not only financial decisions but also strategic planning.

We have a list of tailor-made bank assistance services to meet the needs of your business or enterprise. Let’s see how our banking consultants and experts provide Bank Assistance Services in Dubai.

Opening or Setting up a Bank Account

We provide complete Bank assistance Dubai as per your account creation needs. Whether, it is a company current account, savings account, or foreign currency account, we are here to provide all the services.

Preparation of Documents

Bestax experts assist you with all the paperwork and filling required documents for your bank account in UAE. We ensure that all the legal and regulatory criteria are fulfilled.

Selection of Suitable Bank

We advise you to choose a suitable bank depending on your business scale, scope, financial objective, and other relevant factors. Moreover, choosing the right bank also takes into account the costs incurred, benefits, and features offered by each bank.

Offshore Banking Solutions

Our Bank Assistance Services in UAE help you make the best financial and strategic decisions on the offshore banking system. Your offshore business will get banking solutions, asset protection, tax reduction, and global financial diversification to help you achieve business objectives.

Access to International Banking Services

We provide you with complete assistance for cross-border transactions, any foreign currency accounts, and trade financing options on behalf of enterprises.

Consultancy on Investment Banking Services

We give you an impactful and wise consultancy on capital structure, raising funds, mergers, acquisitions, and other investment portfolio management.

Financial Planning

We suggest the most suitable banking solutions for your new business setup to help with growth strategies and achieve financial goals.


Bestax ensures that companies are compliant with banking rules, regulations, and general UAE standards.

Risk Assessment

We carry out risk assessment analysis to understand the monetary problems regarding the banking sector and propose suggestions to mitigate them.

Optimization of Taxes

Our professional financial advisors are experienced in making financial arrangements in such a way that businesses minimize tax liability.

Financial Reporting

We help your UAE business devise financial reporting in such a way that it works smoothly with the banks. Moreover, Bestax also assists financial management and completes reporting procedures throughout the year.

Conflict Resolution

If you have been facing any conflicts or banking disputes, we are also here to assist you and guide you through it. Bestax-qualified accountants and tax consultants know what is best for your business and help navigate effective banking solutions.

Bank Assistance in UAE With Us

If you want customized banking solutions in UAE tailor-made for your business needs, you can contact our qualified business consultants. We use cost-effective techniques to provide our customers with customized strategic planning and bank assistance Dubai.

Bestax with its proficient team empowers firms to settle on very much educated decisions. We help businesses work on better management of finances, and accomplish their targets in the UAE market. With complete bank assistance services in Dubai, we help improve their capacity to bring in cash and boost their entire organization plan.

For Business Setup Services, you can talk to our highly qualified business consultants in UAE. They will provide you with a complete guide on Bank assistance services in Dubai or even offshore banking services.

Contact Us Now!

Company Formation Setup in Dubai, UAE

Bestax’s professional business consultants have specialized in providing Company Formation Services Dubai. We have the best business setup consultants in Dubai who understand the complexities of company formation in UAE. We offer personalized solutions for your company formation and aim to deliver quality business consultancy to meet your overall objective.

Company formation in the UAE requires a thorough understanding of business location, culture, and local guidelines to establish a successful company. We guide you on how to set up a suitable business in the right location and form an authentic company at affordable rates.

In this article, we will discuss how to do company formation in UAE in an easy, fast, and affordable way.

Bestax is a leading business consultancy firm that is determined to provide services like setting up companies in the UAE. We help you set up your company from scratch in the UAE while complying with the legal procedures and local authorities.

Bestax helps develop businesses by following company formation services and a suitable business model as per your business activity. Here are the company formation services that assist you in getting an affordable business setup in Dubai;

  • Company formation
  • Registration, tax
  • Accounting and bookkeeping
  • Audit and assurance
  • Legal (including intellectual property rights)
  • Branding advice
  • Account Opening Assistance
  • PRO Services

Easy & Fast Company Formation in Dubai

Looking for a stable, affordable, easy, and fast-growing Affordable Business Setup in Dubai? Look no further!
You can now get the advantage of low-cost business setup services in the UAE. A true dynamic region is specifically feasible for entrepreneurs, start-ups, and small or large multinational corporations.

Whether it is a Free Zone Company formation in Dubai or any other affordable business setup in Dubai, it offers equally super-fast and easy services. No matter which business setup services you avail, you can choose any location, license, package, or jurisdiction based on your company activity.

If you get stuck in Company Formation Services UAE, Bestax professional business setup consultant Dubai guides you throughout the process.

Dubai Company Formation Services Cost

The cost of Business Setup Services in UAE depends upon the business activity you are running and the location of your company. The costs of licensed businesses in the UAE are as follows;

  • IFZA – AED 12900
  • RAKEZ – AED 6500
  • SHAMS – AED 5665
  • Meydan Dubai – AED 12500
  • Mainland DED – AED 20,000

However, this cost of Company Formation Services UAE may vary at the time of setup. Total expenditure on Business Setup in UAE can fluctuate due to the pre-launch or post-launch promotions or discounts. The above-mentioned cost can be altered based on the approval procedure, attestations, or any certifications at the time of company formation.

Types of Entities in Company Formation Dubai

If you are planning to set up ventures in Dubai, then there are around eight legal entity options to begin with company formation.

  • Limited Liability Company
  • Free Zone Company Formation
  • Onshore and Offshore Company Formation
  • Shareholding Companies
  • Mainland Company Dubai
  • Professional Firms Dubai
  • Branch and Representative Offices
  • Joint Ventures Company

Types of Company Formation Services in Dubai

There are three different types of company formation in Dubai with their regulations and benefits.

  • Free Zone Company
  • Mainland Company
  • Offshore Company

Free Zone Company Formation

For Free Zone Company formation, business owners and investors can receive many incentives. Some of them are listed below:

  • Tax exemptions
  • 100% Foreign Ownership
  • Cost-effective and affordable business setup
  • Custom Privilege
  • Convenient for transportation due to road connectivity
  • Low-cost business network
  • Affordable labor

Mainland Company Formation

If you are planning to form a Mainland company, then it comes with its jurisdiction incentives and regulations. Setting up your business in a region other than Free Zone is Mainland Company which is licensed by the Department of Economic Development. However, you can do business outside the UAE, whether you are opting for a Mainland region or a Free Zone, and seek Company formation services in Dubai.

Offshore Company

For non-resident Company Formation Services, you can choose the offshore company option. Under this option, you can operate, expand, and carry out business activities internationally. You cannot do business inside the UAE while setting up an offshore company.

Bestax understands that businesses who want to set up offshore companies a holding companies. If you want to hold your shares, intellectual property, and licensed franchises.

Benefits of Company Formation Services Dubai

Company formation services in Dubai are a profitable business choice as it comes with numerous long-term benefits. Here are some of the amazing benefits you get with your new business setup in Dubai;

  • Premium location
  • 100% foreign ownership
  • Premium infrastructure with complete access to nearby seaports and airports
  • Tax savings
  • Tax exemptions on Free Zone and offshore company setup
  • Good UAE governance
  • Low-cost business setup
  • High Profile Lifestyle
  • Simple and fast company registration process
  • Cheap and competent labor force
  • Multi-currency bank accounts allowed
  • Top-class residential and commercial structures available
  • Reliable telecommunication and utility services are available.

Company Formation Services Dubai Solutions

Bestax is here to guide you through the Company Formation process so that you know inside and out of your business dealings. Our business setup consultants Dubai offer Dubai business setup services to help you save your time and speed up the whole procedure. In this way, you can gain access to our services of company setup consultants in Dubai easily, and at affordable rates.

Apart from that Company formation services Dubai careers are also available to facilitate startups and newbies. Bestax chartered accountants have vast experience in Company Formation Services UAE. We have been promoting and helping startups in Dubai to get maximum benefit out of this business hub. Your business setup company in Dubai facilitated by Bestax will be able to achieve more reach internationally. Bestax is a highly professional provider of company formation services and business setup services. We also provide VAT services, Corporate Tax Compliance services, Golden Visa services, and other registration services to cater to your business needs.

To take advantage of our top-notch corporate services Dubai, please contact our Company Formation consultants.

Register Your Company with us and Get Corporate Tax Services in UAE

Bestax is a top-notch tax registration consultancy firm, that provides a complete guide to Corporate Tax Services in UAE. We help you get a corporate tax registration number with complete assurance to comply with the UAE Corporate Tax regime.

The Ministry of Finance UAE has previously announced the Corporate Tax in 2022. On 22nd October 2023, the President of UAE “Highness Sheikh Mohamed bin Zayed Al Nahyan” issued a Corporate Tax Law. This law provides Federal Corporate Tax legislation for implementation and introduction is applicable from the financial year 1st June 2023.

As a result of this change in the Corporate Tax regime, audit firms and tax advisors in Dubai have started offering Corporate tax advisory services. We not only help you with corporate tax registration services, but we also assist you in corporate tax implementation throughout your business activities.

In this article, you will get a complete guide to register your company for Corporate Tax in UAE. Let’s get an overview of Corporate Tax Registration Services in UAE and their importance.

Corporate Tax Services in Dubai

What is Corporate Tax Registration in UAE?

Corporate tax is a business profit tax where FTA registers an eligible person for Corporate Tax. It allows taxable persons to receive a unique Corporate Tax registration number after registering for corporate tax in the UAE. Many audit firms have started providing Corporate Tax Services in Dubai, after this latest tax reform.

According to the Ministry of Finance, the corporate tax rate for a taxable person is 9% on a profit exceeding AED 375,000. For profits below this threshold level, corporate tax is 0% on taxable income. Bestax provides complete Corporate Tax Services in UAE to new business setups and helps them grow.

Who Should Register for Corporate Tax?

Under Federal Tax Authorities FTA law, every taxable person, including the Free Zone persons falls in this corporate tax regime. FTA requires a taxable person to register under Corporate Tax Registration UAE. The authority requires them to own a unique registration number that is to be used by Tax Authorities for Tax implementation.

If a taxable person is considered exempted from UAE Corporate Tax 2023 by FTA, the individual must be registered in the declared time by authorities. Bestax is always at your service if your company needs to be registered for Corporate Tax. Upgrade and grow your business with our Corporate Tax Services in UAE.

Why Corporate Tax Registration is Important?

The Ministry of Finance and UAE governance has recently introduced corporate tax structures and tax laws that benefit the UAE companies at large. This announcement of Corporate Tax Registration has attracted many businesses, startups, and entrepreneurs.
Here are some of the advantages of corporate tax registration in UAE

  • A new Corporate tax regime helps you stay compliant with tax laws and regulations
  • It helps identify any malicious or illegal tax practices
  • You get access to top-class tax standards globally applicable
  • It enhances the chances of your business operating in UAE and outside the UAE
  • Corporate tax registration is beneficial for businesses as it reduces the after-tax revenue and shareholder’s return
  • Moreover, the corporate tax affects both your direct and indirect shareholdings such as investment funds and private pensions.
  • Businesses can minimize their overall tax liabilities after registering for corporate tax in UAE.

It is a significant step forward to transforming UAE businesses through Corporate Tax Registration transparency and implementing international standards.  So, companies in Dubai have started expanding their businesses in the UAE for better reach globally. Bestax’s Corporate Tax Services in UAE help boost businesses and assist them in achieving their organizational goal. 

How to Register Your Company For UAE Corporate Tax?

  • The first step is to create your account on the Emaratax portal by registering with your email ID and Phone number. You can also log in to your Federal Tax Authority FTA account to
  • Now login to your Emaratax accounts with your existing ID and password.
  • In this step, you must register yourself as a taxable person by selecting a relevant person from the list of taxable persons.
  • Finally, register for Corporate Tax and complete the registration process.

This portal is open for corporate tax registration online 24/7 and you can access it easily through your FTA account. However, if you need assistance with Corporate Tax Services in UAE and Corporate tax registration, our tax consultants in Dubai will guide you.  Moreover, it is always advised to reach out to Corporate Tax Accounting Firm Dubai like Bestax for expert solutions to your corporate tax issues.

What Should Be Required Documents For Corporate Tax Registration Form?

  • FTA allows a taxable person to register their company online. The companies that register their businesses for corporate tax in UAE must submit the following documents.
  • Trade License
  • Emirates ID for the managers, shareholders, and authorized signatories
  • Passport for the managers, shareholders, and authorized signatories
  • Memorandum of Association/Power of Attorney
  • Ejari/Proof of address
  • Bank validation letter (if a natural or legal person has a bank account in the UAE
  • Title Deeds (if a natural or legal person owns a property in UAE)

For Corporate Tax Services in UAE, Bestax is an FTA-approved agency that offers comprehensive business solutions to many UAE companies.

How Do We Help With Professional Corporate Tax Services in UAE?

Bestax is one of the best tax firms in Dubai providing Corporate Tax Services in UAE. With the help of the most qualified tax consultants, your corporate tax registration process becomes very easy. Our professional corporate tax advisors know the implementation of corporate tax and corporate tax compliance to save your time and efforts.

Bestax Chartered Accountants are experienced enough to do UAE tax planning for your business. We also provide Tax Reduction services to improve your company’s performance and credibility. Minimize your Corporate Taxes in UAE with our strategies to mitigate tax liabilities.

With our tax consultancy services, your business is in safe hands. Contact us for top-notch and hassle-free Corporate Tax Registration Services in UAE.

Boost Your Business With Corporate Tax Services in UAE

Bestax offers comprehensive Corporate tax Services to navigate and implement UAE Tax Regulations in your business and unleash its potential. Corporate tax rates implementation started on 1 June 2023 by the Ministry of Finance UAE. After the announcement of Corporate Tax in UAE, it has attracted many businesses from all around the globe. This tax reform has not only increased the credibility of existing businesses in Dubai but also ensured tax transparency and implementation of International Standards.

UAE companies receive many tax incentives and a favorable tax environment, but you can still reduce it with legitimate tax strategies. Bestax is here to assist you with tax savings strategies while complying with the regulations and laws at the same time. If you are running a business in the UAE, or thinking about it, knowledge of corporate tax services is important. It can only be possible with a professional tax expert to get maximum advantage of tax exemptions and tax savings and unleash your true business potential. Bestax CA in UAE can help you with Corporate Tax strategies and implementation to get maximum results out of it.

Corporate Tax Strategies in UAE to Boost Your Business

Bestax understands the true objective of corporate tax in the UAE and helps businesses and investments strengthen their position. Our professional corporate tax services in UAE assist businesses in achieving their corporate tax objective to develop and transform.

Chartered Accountants at Bestax are determined to provide Corporate Tax Services in Dubai, Corporate Tax Registration Services in UAE, and Tax Reduction Services. You can count on us anytime and we ensure to provide top-quality tax strategies and tax services to unleash their business potential. Let’s discuss how Bestax’s Corporate Tax strategies play a vital role in seeking UAE advantage of corporate tax reform.

Selecting the Right Business Structure

Bestax corporate tax services start with choosing the right business structure for your company. This is an effective tax strategy that we use to help you get the maximum benefit of tax savings. Setting up a business in UAE requires you to choose between the Mainland and the Free Zone. However, selecting any one of them to start a business activity in the UAE comes with its tax implications, tax benefits, and other restrictions.

Our professional tax consultants make sure to devise smart tax strategies that give your business a competitive edge in Dubai with all the tax exemptions. You get high-quality tax consultation from Bestax Chartered accountants with vast experience in providing complete business solutions.

Benefiting from Double Taxation Avoidance Agreements

UAE has incorporated a Double Taxation Avoidance Agreement (DTAA) that saves the taxpayer from imposed taxes in two countries.

Foreign tax credits

A tax that is paid on the UAE taxable income overseas can now offset a portion of Corporate Tax payable in the UAE. UAE has now entered into double tax treaties with 137 DTA. However, it can work properly under the sustainable tax system where there must be a linkage between cross-border trade and ownership. It must be before and after the announcement and implementation of UAE’s Corporate Tax.

Bestax is here to save you from extra tax implications and help run your business effectively. Our professional tax consultants will devise an appropriate strategy for your business to leverage this agreement and reduce overall tax rates and implications.

Tax Exemptions and Incentives Utilization

The following businesses and corporations are exempted from the Corporate Tax services:

  • Government Entities are automatically exempted.
  • Controlled by Government Entities are exempted if specified from the Cabinet Decision.
  • Extraction businesses or non-extraction natural corporations, if declared exempted by the Ministry of Finance
  • Public benefit entities are exempted if listed under Cabinet Decisions.
  • If the Federal Tax Authority approves, the exempted entities include public or private pensions social security funds, and qualified investment funds.
  • UAE subsidiaries which are Wholly owned and controlled by the Government Entities are also exempted if approved by FTA.

Our professional tax planning consultants help you in seeking benefits from these tax exemptions and incentives. Bestax financial advisors are dedicated to providing you with tax reduction services and making your investment in the UAE business sector.

Understanding the corporate tax relief for companies helps you optimize tax planning strategies and reduce it while ensuring compliance with the tax regulations. Bestax tax advisors aim to reduce your overall tax liability so that you focus on your main financial activities in Dubai.

Optimization of Tax Planning with Transfer Pricing

It involves carefully devising transfer pricing strategies between two entities in such a way that you achieve maximum tax exemption benefits. Bestax tax consultants understand how much it is to strategically choose the pricing of products, services, and tangible or intangible assets when dealing with multinational groups.

Therefore, we are here to assist you in structuring and documenting your transfer pricing of products and services in such a way that it optimizes your tax planning. Moreover, we help you achieve your tax objectives through wise transfer pricing. However, it requires your business to comply with the OECD transfer pricing standards and documentation requirements. You can contact Bestax Chartered Accountants for tax consultations and information on Corporate Tax Services in Dubai.

Investing in Research and Development

UAE businesses are subject to many tax benefits and tax incentives if they invest in research and development R&D activities. R&D expenditures for innovative services help businesses reduce their taxable income and minimize tax liabilities in the end. Bestax tax consultants figure out how your business gains advantage of tax incentives through R&D expenditures in innovations. Minimize your Corporate Taxes in UAE with our strategies to mitigate tax liabilities.

Wrapping Up

Bestax Chartered Accountants and Tax Consultants are experienced enough to provide you with detailed Corporate Tax Strategies. Our professionals will understand your businesses and help you take most of the Corporate Tax UAE advantage.  Whether you want help with Corporate Tax Registration Services in UAE or Tax Reduction Services, our tax experts understand your needs. Bestax is determined to provide quality corporate tax services in UAE to unleash the real potential of your business dealings. Hence, with the assistance of our professional experts, you get advanced tax consultation and achieve your business.

Get Accurate and Timely Accounting and Bookkeeping Services

For any business, it is essential to have accurate and timely accounting and bookkeeping of the financial records. Similarly, bookkeeping and accountancy services in Dubai demand maintaining accurate and timely records of payroll, taxes, receipts, invoices, and complete information on financial transactions. Bestax is here to assist you with appropriate accounting services in UAE.

We understand that it requires time to monitor day-to-day accounting and bookkeeping records. It is important to manage income and expenditure in a cost-effective manner. Apart from that, a person with less knowledge of International Financial Reporting Standards IFRS fails to implement them correctly.

In this situation, the best solution is to outsource a professional chartered accountant CA who understands accounting standards well. Only qualified accountants and financial consultants know how to incorporate them in the bookkeeping and accounting system properly.

Bestax CA Accurate & Timely Bookkeeping & Accounting Services

Companies need to accurately maintain their bookkeeping and accounting records for the smooth running of the business in the UAE. As per the Commercial Companies Law of Dubai, accounting services in the UAE must comply with the IFRS and IAS accountancy requirements to increase the credibility of financial affairs.

Moreover, the Federal Tax Authority FTA and other government authorities demand UAE companies to maintain their accounting records for the past 5 years to the end of the financial year.

Only expert bookkeepers and chartered accountants can help facilitate your businesses in an effective manner. Bestax’s highly qualified financial advisors, ensure to handle your complex projects and keep the records steady and updated in the books.

  • Creating a chart of accounts as per the nature and structure of the business;
  • Preparation and verification of balance sheet;
  • Recording of monthly transactions including sales, purchases, and bank entries,
  • Journal entries;
  • Accounts receivables;
  • Bank and other accounts reconciliation;
  • Credit and debit adjustments;
  • Accounts payable reporting;
  • Analysis and reporting of financial statements.
  • Balance Sheet
  • Cash Flow Statement
  • Bank Reconciliation

How do we help with Accounting and Bookkeeping Services?

As a UAE bookkeeping expert, Bestax ensures compliance with the IFRS, IAS, and other regulations while providing accounting and bookkeeping services. Only professional financial advisors help your business comply with local and international laws and protect it from any fines and penalties. Therefore, it is essential to invest in firms providing quality accounting and bookkeeping services in Business Financial Accuracy like Bestax.

Here is how we can help you maintain your financial records to increase business accuracy.

Bestax Accounting Services in UAE

On-site Accounting Services

If you want on-site accounting and want our representative to be in your workplace, we send our professional experts. Our experts know how to handle financial transactions in front of your eyes.

Off-site Accounting Services

Bestax is one of the leading accounting service providers in Dubai. Our UAE bookkeeping experts not only keep an eye on the day-to-day company operations but also advise suitable strategies to meet their financial goals. Our qualified chartered accountant visits your office daily, weekly, or monthly to locate errors in transactions and correct them accurately and timely.

Accounting Transactions

Our expert financial accountants monitor accounting transactions on a daily basis to help you meet the financial objectives of your business. For this purpose, we send a personalized and professional bookkeeping and accounting expert, daily, weekly, or monthly as per the number of transactions.

The qualified chartered accountants of Bestax navigate every transaction to trace any errors and make necessary corrections. This increases the chances of the accuracy of financial records, maintaining the transactions timely.

Bank Reconciliation

Bank reconciliation is a process of matching the accounting records with the original bank statement balances. The goal behind bank reconciliation is to find any differences in the accounting records, rectify them, and make necessary adjustments appropriately. Bestax’s dedicated team of professional chartered accountants ensures that your actual bank statements reconcile completely with the cash in accounting records.

Despite the complexity and size of your business, our experienced chartered accountants in Dubai provide you with a bigger and clearer picture of your accounting matters. Our business experts are capable of handling your complex financial and accounting issues and rectifying errors in transactions. We help you maintain proper books of accounts, and ensure compliance with the regulations and standards. This helps your company grow and achieve your financial and business goals.

Bestax Bookkeeping Services in UAE

At Bestax, we offer top-notch bookkeeping services in UAE so that you mainly focus on routine business functions. Our bookkeeping experts take full responsibility for handling your data entries and carrying out necessary bank reconciliation procedures to ensure the accuracy of records in a timely manner.

For this purpose, our experienced bookkeepers perform two major tasks;

  • Understanding your Business Cycle

This includes gaining detailed knowledge of your current accounting status keeping in mind your business and financial cycle and objectives. After this, our bookkeeping experts devise an accounting cycle for your business as per your budget and requirements.

  • Devising a Feasible Business Proposal after Planning

After proper business analysis, the team of professional bookkeeping experts undergo a study and devise a feasible proposal for you. Bestax business and financial experts ensure to meet your company’s requirements and make decisions to get the maximum output and cost-effective solutions.

  • Software Usage For Accurate and Timely Bookkeeping

After approval of the proposal, the very next step is to implement relevant bookkeeping software to streamline your charts of accounts. This will help your business and financial transactions and


Why you should choose Bestax Chartered Accountants for your business?

Bestax offers top-quality accounting and bookkeeping services at low rates without undermining the quality of services. The team of professional accountants includes members of ACCA, CA, CPA, and other IFAC bodies which give high-quality results for your financial statement. Bestax Chartered Accountants are not only fast but also provide accurate results promptly. You will seek the best advice as per your UAE business requirements. Moreover, our chartered accountants are dedicated enough to provide weekly, monthly, quarterly, and annual financial reports according to your business nature and needs. Contact us to avail our top-quality accounting and bookkeeping services.

Minimize Your Corporate Taxes in UAE with Our Help

Corporate tax in UAE allows taxable persons to avail of tax reduction services if they abide by the rules and regulations.

Corporate Tax in UAE?

Corporate Tax is a direct form of tax levied on the net income of any business or corporation. Corporate Tax is also known as “Corporate Income Tax” or “Business Profit Tax”. FTA registers an eligible person for Corporate Tax and allows the individuals to receive a unique Corporate Tax Registration Number. UAE Corporate Tax 2023 has now allowed Dubai tax consultants and audit firms to offer corporate tax services and their implementation for many growing businesses.  

Since the announcement, corporate tax in UAE 2023 has attracted many businesses at large. The current reform in corporate tax Dubai 2023 is to increase the credibility of the UAE as a prominent hub for businesses.  It is a great step forward to transforming UAE businesses through tax transparency and implementing international standards. This initiative is a gateway to protect the system from fraudulent tax practices.

Corporate Tax Rates in UAE:

The taxation policy is divided into three tiers as per the regulatory body for UAE Corporate tax. These are mentioned below

  1. Businesses that have a net yearly profit up to AED 375,000, are subjected to a 0% Corporate Tax rate.
  2. Businesses that yield more than AED 375,000 yearly net profit are subjected to a 9% tax. 
  3. Large multinational companies are subject to a separate taxation policy Pillar 2. According to the OECD Base Erosion and Profit Shifting Projects, large companies with a revenue of AED 3.15 billion globally are subject to taxation.

How to Minimize Corporate Taxes?

UAE Businesses are subject to low rates of corporate taxes. You can minimize corporate taxes, if you effectively structure your business operations, maximize deductions, utilize the tax exemptions and incentives, and seek the advice of a tax expert. However, to avail of tax deductions, taxable persons must comply with the Federal Tax Authority (FTA) regulations and standards. Failure to abide by these rules may lead to heavy corporate fines and penalties.

If you want to reduce Corporate Tax on your business, Bestax is here to help. Bestax has been providing professional Corporate Tax Services in UAE including Corporate Tax registration services in UAE and Tax reduction services. Our tax experts assist you in UAE Tax planning and compliance with the tax rules and regulations, ultimately minimizing your overall corporate tax. Here is how we can help you minimize your corporate taxes.

Maximizing Deductions

To avail maximum deductions on your business corporate taxes, it is necessary to understand the applicable taxes on taxable persons. Bestax aims to figure out tax deductions applicable to your business activities such as local or regional taxes, energy consumption taxes

Seeking Expert Consultant Advice

Only professional tax consultants know well about the applicable tax deductions on taxable persons. They have experience in minimizing corporate taxes effectively while complying with the FTA regulations. Bestax offers a comprehensive tax consultancy service and helps businesses build a corporate structure to gain maximum tax deductions. We assist corporations in getting benefits from double tax agreements. Our experienced tax consultants devise tax-saving strategies that help you gain more advantage of reduced taxable income. Hiring a registered tax agent is a great option.

Keeping Effective Financial Records

Record keeping plays an important role in minimizing corporate taxes in the UAE. Our tax reduction services include maintaining your important documents, receipts, and invoices of a taxable person to keep track of business activities.

Getting Maximum Advantage of Tax Exemptions

There are many entities in the UAE that are exempted from corporate taxes. These include government entities, entities controlled by the government as per cabinet decision, extraction, and non-extraction corporations under MOF, and Public benefit entities. Bestax Chartered Accountants ensures that you take maximum benefit out of these tax exemptions and incentives to minimize your overall taxes. However, it is essential to fulfill the eligibility criteria before applying for these corporate tax exemptions.

Improving Business Structure

Another best way to minimize corporate taxes is to choose a corporate structure with low tax rates. This can be achieved by setting up your business activity in free zones offshore to avail the maximum tax exemptions. Moreover, if you make transactions with free zone entities, you are subject to 0% corporate taxes. Keeping the benefit of business structure in mind, an expert financial advisor can help you decide the business structure. Bestax’s professional accountants assist you in choosing the best business structure depending on the business operations and long-term growth plans.

Filling Corporate Tax Returns and Payments Timely

Whatever business you are dealing with, it is necessary to fill out corporate tax returns and payments in a timely manner. Failure to do so may result in late filing penalties and fines. You can prevent late filing and meet the deadlines for filing tax returns by collecting the documents timely at the end of the fiscal year. This helps minimize additional corporate tax and fines. It is always advised to seek help from a tax firm for timely assistance in this regard. Bestax has professional chartered accountants that provide you with the complete package of excise tax planning, consultancy, and compliance with UAE business regulations.


Bestax financial experts and tax consultants ensure that your business and corporate tax are compliant with the regulations of FTA. We offer 24/7 financial accountancy services and provide you with complete guidance on your business activities. We structured your tax reports in accordance with the UAE’s business laws.

Being registered and recognized in UAE and free zones, we pride ourselves on protecting your company property and protect it from any damage. Our team is comprised of corporate tax advisors, tax consultants, and auditors who help businesses minimize corporate tax liability, through correct reporting, timely filing of taxes, compliance, and complete optimization. For 24/7 Tax Consultancy services and reduction of Corporate Taxes in UAE, contact our expert team right now!

Business Setup in UAE – The Easy Way

Over the past few years, the UAE trading industry has outgrown into a famous and prestigious business hub for international trade. You will find numerous businesses and startups blooming in UAE, from tourism, technology, trading, and healthcare to manufacturing top-notch products.

Setting up a business from scratch is a time-consuming procedure, However, you will find a simplified UAE Business Setup to cater to your entrepreneurial needs through a hassle-free registration process. If you have been planning for a business setup in the UAE and you don’t know how to begin it, then this guide is for you.

How to do Easy Business Setup in UAE?

Here is a step-by-step guide to setting up a business in the UAE

Step 1: Define the nature of your Business Activity

This step includes choosing your business activities keeping in view the types of business licenses. You will find many options for business activities from which you can decide and prepare a complete business plan before the UAE business setup. It is advised to choose the name of your business prior to license application to make sure that your business name is available for registration.

Step 2: Mainland Zone or Free Zone Business Setup

The next step involves choosing between the mainland zone and the free zone to set up your business in the UAE. Setting up your desired business in mainland or free zone subjects under their rules and regulations respectively.

Free Zone Business Setup

If you choose to trade B2B outside the Free Zone region, you won’t be allowed to do B2C outside Free Zones. With a Free Zone license, you cannot establish a physical office outside the Free Zone.

However, you are allowed to do B2C business, if a customer reaches out to you through a virtual source online.

Mainland Business Setup

On the other hand, choosing a Mainland region that is outside Free Zones gives you permission to start a business in UAE or outside the UAE. However, making a choice between the two zones depends upon the business activity.

Step 3: Determine the Legal Structure of your Business

Defining the legal structure of your free zone or mainland business is important. If you have a business setup in UAE for a free zone company, you have 3 legal structures;

Free Zone Limited Liability Company (FZ LLC)

Free Zone Company (FZ Co.)

Free Zone Establishment (FZE)

If your UAE business setup is in the mainland, then you can select legal structures from 9 given options.

  • Sole Establishment
  • Branch of a GCC company
  • Civil company
  • Branch of a local company
  • Limited liability company
  • Public joint stock company
  • Private joint stock company
  • Holding company
  • Representative office of a foreign company

Step 4: Register your Trade Name

This step involves choosing a Trade Name for your easy business setup in Dubai. While making a choice about Trade Name, you must abide by the following terms and conditions;

  • The trade name must contain an abbreviation stating the suffix for the legal structure of a company such as, an LLC.
  • It must not contain any inappropriate words that may offend the general public.
  • Your trade name must be in line with your chosen business or economic activity.
  • It must not be registered as a name of any other business.
  • Make sure that the trade name must not be the name of government bodies, rulers, or logos and names of government authorities.
  • The trade name and trademarks must be approved by the concerned authorities such as the Ministry of
  • Economy and Department of Economic Development.
  • These certificates are also subject to renewal

Step 5: Initial Approval for the Business Setup in Dubai

You have to apply for the initial approval of your business setup for a no-objection certificate from the UAE government. This step is a way forward for the investors to set up a business and get your business a license to perform business activities in the region.

LSA or MOA Creation

For limited liability, public shareholding, civil or private shareholding company, a Memorandum of Association (MOA) is required. On the other hand, Sole proprietorship requires a Legal service agent agreement (LSA).

Step 6: Business Location and Office Space Selection

In this step, you have to rent an office, purchase land to set up an office, or use a business activity to start your business activities. Choose your office place according to your workforce and business type. Moreover, make sure that the office has all the services and facilities such as; Telecommunications, labor accommodation, meeting rooms, printing facilities, and internet connection.

Your physical office must abide by the requirements of the Department of Economic Development of Emirates. It must follow the policies and regulations of concerned authorities and local municipalities. Once your business location is finalized, you must register your tenancy contract from the Ejari Portal of the Land Department Dubai.

Step 7: Business License

Choose your business license, as per your business activity. Dubai company formation services offer 6 economic licenses for business activities.

  • Commercial License
  • Professional License
  • Tourism License
  • Agriculture License
  • Occupational License
  • Industrial License

Step 8: Documents Submission

You must submit the following documents to reach the final stage of business setup.

  • Copies of previous documents with receipt of initial approval.
  • Attested copy of lease contract
  • Memorandum of Association
  • Approval received from other government entities

Step 9: Pay Fees and Collect your License

After completion of the approval process and fee submission, you can receive a license from the economic department’s service center or online through the website.

Step 10: Registration from the Chamber of Commerce Industry

Your business or company must be registered by the Chamber of Commerce Industry as mentioned.

Make sure that your business or company is registered in the same emirate where the office is located physically. Your company must be registered under any one of the following Chamber of Commerce Industry.

  • Federation of UAE Chambers of Commerce & Industry
  • Abu Dhabi Chamber of Commerce and Industry
  • Dubai Chamber of Commerce and Industry
  • Sharjah Chamber of Commerce and Industry
  • Ajman Chamber of Commerce and Industry
  • RAK Chamber of Commerce & Industry
  • UAQ Chamber of Commerce and Industry
  • Fujairah Chamber of Commerce and Industry


Business setup in Dubai is an amazing opportunity to expand your company operations in UAE. Extending your professional business network in UAE requires you to fulfill above mentioned requirements and complete procedures.

Business setup services in UAE help you gather knowledge about already established businesses as well as startups. Bestax is considered one of the leading business consultancy firms in Dubai. Choosing Bestax will help you get high-quality business setup services in UAE.

However, if you need any guidance for easy business setup in UAE, you can reach out to Bestax for business consultancy services. Bestax Chartered Accountants has experienced professionals who are dedicated to providing Business Setup Services in the UAE. From paperwork, registering your business, choosing an office place to fee submission, and acquiring a business license, Bestax assure you to give you a complete guide until you start your business operations smoothly in UAE. Contact us right now, and let us setup your business in UAE in no time!

Expert Tax Audit Services in UAE: Ensuring Compliance

When the FTA in the UAE does a tax audit, they carefully check a company’s money records, accounting papers, and tax forms to make sure the company has figured out the right amount of tax they should pay and they make sure that company is following all the rules.

The FTA can decide to do an audit on any business for any reason, not just when there’s a problem. To be ready for an audit, companies should be able to answer questions within specified time frame. They need to correctly figure out how much tax they owe for different kinds of transactions, like regular ones, special low-tax ones, and ones that don’t have tax. Companies should also keep track of their money records and make sure they match the tax forms they send.

Bestax Chartered Accountants (CA) is a certified Consulting Firm, offering Auditing Services in Dubai including Tax audit services. Engaging their expertise allows businesses to proactively prepare for FTA tax audits by enlisting tax agents for essential pre-tax auditing processes to ensure that whether you are well-prepared and complying all the applicable regulations.

What is a tax audit?

Examination of tax return and information provided in return by tax authorities to make sure that reported information is correct. The process is carried out by the FTA to verify proper payment of liabilities and timely submission of taxes to the government. Further, incorrect data in return can trigger an audit.

  • The Tax Procedures Law (Federal Decree-Law no. 7) defines a Tax Audit as a process done by the Federal Tax Authority (FTA).
  • Tax audits in the UAE are carried out by the FTA to check the records and information of a Person doing Business.
  • The aim of a tax audit is to ensure that a business is following the tax laws, especially VAT and Excise Tax Laws.
  • The FTA checks if the business has paid all the taxes, it should and done so within the required time.
  • The audit can happen at the FTA office, the business’s place, or where they keep records or goods.

How to get ready for the audit?

Engaging a tax consultant who can provides you with Expert Audit Services in Dubai and will help you in establishing and maintaining your organizational readiness, ensuring your company is well-prepared to address any potential tax audit requests from the FTA, improving concerns associated with such audits.

The following outline describes the types of assessments conducted to equip you for an forthcoming audit:

System Evaluation

Ever since the introduction of taxes in the UAE starting from January 1, 2018, companies have been making sure that all their departments are well-prepared for this new phase. One aspect is updating their accounting software so that rules for VAT accounting can be fulfilled. Checking and evaluating the systems will make sure that there are no mistakes or differences in the way transactions are recorded.

Tax Calculation Scrutiny

Companies need to make sure they follow the rules by checking that they have done the math right for both the money they get from taxes (output) and the money they spend on taxes (input). Remember, the tax rate is 5%. Also, anything that doesn’t have a tax or has a lower tax should be treated as such, but you should keep papers to prove it.

VAT Return Review

A tax consultant will look at the papers where companies show how much tax they’ve collected and paid through VAT return. They’ll make sure everything is written in the right places in return, and all the important details are there. They’ll also check that these papers are given to the government on time, as the government wants them.

Tax Payment Audit

You must pay the right amount of tax before the deadline. A tax consultant will help you avoid any problems with the government agency (FTA) by making sure you don’t miss the tax payment deadline.

Checking the systems will make sure that everything is correct and consistent with the recorded transactions.

Documentation Requirements for Tax Audits in the UAE

Taxable entities operating in the UAE are obligated to maintain specific records that facilitate the tax audit process. According to Article (78) of the Federal Decree-Law on Value Added Tax, tax registrants are mandated to retain the records and Tax Audit Services in Dubai can help you in preparing and presenting the following record to tax auditors during the FTA tax audit:

  • Comprehensive Records of Supplies and Imports: Detailed documentation of all supplies and imports made by the entity, providing a comprehensive overview of its commercial activities.
  • Tax Invoices and Receiving Documents: Maintenance of tax invoices and documents associated with the receipt of goods and services, substantiating transactions and aiding in the verification of input tax claims.
  • Tax Credit Notes and Receipt Documents: Preservation of all tax credit notes and documents received, facilitating accurate reporting of adjustments and credits within the tax framework.
  • Issued Tax Invoices and Documents: Archiving of tax invoices and related documents issued by the entity, offering transparency and validation of transactions conducted.
  • Records of Non-Business Disposals: Documentation pertaining to goods and services disposed of for purposes unrelated to business operations, along with records reflecting the applicable tax payments.
  • Records of Un-deducted Input Tax: Detailed records of goods and services acquired for which input tax was not deducted, ensuring comprehensive reporting of tax liabilities.
  • Records of Exported Goods and Services: Maintenance of records that outline goods and services exported by the entity, in alignment with international trade regulations.
  • Adjustment and Correction Documentation: Records detailing any adjustments or corrections made to accounts or tax invoices, ensuring accurate reporting and compliance.
  • Details of Imported Goods: Comprehensive information on imported goods, supported by customs declarations and supplier invoices, validating the accuracy of input tax claims.

Tax Agents Registered with FTA in Dubai, UAE

  • Be cautious of people pretending to be tax agents in Dubai to avoid scams.
  • Businesses should pick tax agents who are registered with the FTA (Federal Tax Authority).
  • The FTA keeps a special list for tax agents, with details about each one’s behavior.
  • According to Article 13 of the Tax Procedures Law, only people on this list and licensed by the Ministry of Economy can work as tax agents in the UAE.


In a nutshell, Professional Internal and External Audit Services in Dubai specially related to tax audits play an important role in ensuring legal compliance, financial accuracy, and transparency in business operations. You can minimize your burden by engaging experts to prepare the audit documents, and make a complete examination before Tax authorities. Partnering with registered tax agents like Bestax further enhances your system and records before legal tax audit, enabling businesses to navigate the complexities of the UAE’s Tax Audit compliances effectively.

Financial Success: Expert Accounting Services in Dubai

In the bustling business landscape of Dubai, where opportunity and innovation intersect, the bedrock of sustained prosperity lies in the art of precise financial management. It’s the key to unlocking doors of growth, ensuring compliance, and gaining invaluable insights into your business’s fiscal well-being. Welcome to a realm of Bestax where Expert Accounting Services in Dubai become your strategic partner, allowing you to focus on your business growth while skilled professionals manage the financial intricacies.

Recognizing the Significance of Accounting and Bookkeeping

In the current dynamic business environment, the maintenance of precise and current financial records stands as a crucial pillar for sustained prosperity. Efficient accounting and bookkeeping methodologies not only assure compliance to regulatory mandates but also furnish invaluable perspectives into your business’s fiscal well-being. Entrusting these pivotal responsibilities to Bestax through outsourcing empowers you to concentrate on your primary business endeavors.

Maintaining precise day-to-day bookkeeping holds utmost importance in monitoring your company’s assets, debts, and revenue. Enlisting the assistance of a certified accounting firm to handle your accounts can lead to cost savings and grant access to a wealth of expertise. Our array of Expert Accounting and Bookkeeping Services is thoughtfully designed to meet the distinct demands of various enterprises, guaranteeing the efficient handling of their financial needs.

Best Accounting Services in Dubai for Your Business

Fund Accounting & Reporting

Our offerings encompass extensive financial solutions tailored for financial institutions, encompassing tasks such as computing Net Asset Value (NAV), preparing financial statements, generating investor reports, managing expenses, and facilitating performance reporting.

Bank Reconciliation

We conduct regular bank reconciliations to guarantee alignment between your recorded transactions and bank statements. Through this procedure, we identify disparities, rectify errors, and detect any instances of fraudulent activities, thus ensuring precise cash position reporting.

Payroll Management

Our adept team manages a spectrum of payroll responsibilities, including maintaining employee records, calculating payroll, ensuring tax adherence, managing benefits, tracking attendance, enabling direct deposit, generating reports, implementing software, and conducting audits.

Budgeting and Projection

Our services encompass budgeting and projection, aiding enterprises in devising plans, establishing objectives, monitoring achievements, and formulating strategic choices.

Enhanced Financial Workflow

Revamp your financial operations through our efficient accounts payable management, promoting improved cash flow and fostering streamlined associations with vendors.

Effective Accounts Settlement

We handle your accounts payable comprehensively, covering aspects like invoice handling, vendor oversight, payment execution, and precise account conciliation, ensuring punctual and accurate disbursement to suppliers.

Our Specialized Accounting Services in Dubai and UAE Encompass

  1. Creation of Accounting Systems
  2. Implementation of Accounting Software
  3. Maintenance of Account Books
  4. Management of Project Accounting
  5. Reconciliation of Accounts and Inventory
  6. Oversight of Petty Cash Accounting
  7. Accurate Tax/VAT Accounting
  8. Preparation of Depreciation Schedules

Our Expert Bookkeeping Services in Dubai and UAE Include

  1. Recording Sales Transactions
  2. Tracking Purchase Transactions
  3. Managing Accounts Payable
  4. Handling Accounts Receivable
  5. Maintaining Cashbook Records
  6. Updating Fixed Assets Register
  7. Organizing General/Assets/Equipment Ledgers

Our Proficient Financial Reporting Services in Dubai and UAE Cover

  1. Generating Management Information System (MIS) Reports
  2. Efficiently Managing Inventory
  3. Skillful Treasury Management
  4. Producing Sales and Revenue Reports
  5. Ensuring Effective Cash Flow Management
  6. Crafting Comprehensive Financial Statements
  7. Creating Detailed Profit & Loss Statements
  8. Compiling Accurate Balance Sheets
  9. Delivering Monthly and Year-End Closing Reports
  10. Handling financial accounting and data entry tasks.
  11. Conducting management accounting and preparing comprehensive reports.
  12. Achieving accounting finalization and addressing any backlog.
  13. Creating financial statements.
  14. Providing audit support for regular book closure in accordance with IFRS guidelines.
  15. Managing payroll accounting.

Benefits of Outsourcing Bookkeeping Services in the UAE

  1. Enhanced Focus: Outsourcing enables businesses to concentrate on their core strengths, freeing up time and resources that would otherwise be invested in managing finances.
  2. Cost Efficiency: By outsourcing, the expense of hiring and training an internal accounting team is avoided, resulting in significant cost savings.
  3. Expert Proficiency: External bookkeeping services provide access to skilled professionals well-versed in local accounting regulations, reducing the risk of errors and ensuring compliance with UAE financial reporting requirements.
  4. Minimized Risk: Leveraging experts reduces the likelihood of inaccuracies or penalties, enhancing the overall accuracy and reliability of financial records.
  5. Scalability and Flexibility: Outsourcing accommodates changes in transaction volumes and business needs, offering tailored solutions that adapt to growth and fluctuations.
  6. Strategic Decision-Making: Reliable financial data from outsourced services supports informed and strategic decision-making, leading to better business outcomes.
  7. Time Savings: Delegating bookkeeping tasks allows business owners to focus on core operations and long-term planning.
  8. Access to Technology: Outsourcing firms often employ advanced accounting software and tools, ensuring efficient and up-to-date financial management.
  9. Confidentiality and Security: Reputable outsourcing providers uphold data confidentiality and employ robust security measures to protect sensitive financial information.
  10. Reduced Administrative Burden: Outsourcing reduces administrative complexities, enabling companies to streamline operations and achieve greater efficiency.

Important Considerations When Selecting Bookkeeping Services

When making a choice regarding bookkeeping services in the UAE, it’s crucial for businesses to take the following aspects into careful consideration:

Cost-Effectiveness and Value: Thoroughly assess the cost structure to ascertain that the services provided deliver substantial value in exchange for the investment made.

Customized Solutions: opt for service providers who possess an in-depth understanding of your specific industry needs and can offer tailor-made solutions accordingly.

Reputation and Experience: Conduct thorough research into the reputation and track record of potential bookkeeping service providers to ensure their reliability and professional competence.

Data Security and Confidentiality: Prioritize those service providers who have established robust data security measures, ensuring the utmost protection for confidential financial information.

Client Support and Communication: opt for a service provider that maintains responsive and transparent communication channels, assuring timely assistance whenever required.


In the vibrant and competitive landscape of Dubai’s business arena, the power of precise financial management cannot be overstated. With Best Accounting Services in Dubai by your side, you gain more than just numbers; you acquire the tools to steer your business towards enduring success. From accurate bookkeeping and insightful financial reporting to the assurance of compliance and efficient payroll management, these services become your compass, guiding you through the complexities of financial decision-making. As you embark on this journey, armed with knowledge, expertise, and a trusted partner, you are equipped to navigate the challenges and seize the opportunities that Dubai’s dynamic economy presents. It’s time to elevate your financial strategies, enhance your operational efficiency, and chart a course toward a prosperous future in the heart of Dubai. Book a call now with Bestax consultants and get Expert accounting services for your business.

UAE VAT: Unlock Growth with Professional VAT Registration Services

The introduction of Value Added Tax (VAT) in the United Arab Emirates (UAE) has resulted in substantial transformations in the taxation framework for businesses. To tap into growth prospects and ensure compliance with the regulations, businesses must take a crucial step of VAT registration. Comprehending the criteria for VAT registration is of utmost importance as it dictates whether a business is required to register mandatorily or can do so voluntarily.

In this comprehensive guide, we will delve into the criteria that necessitate VAT registration in the UAE and provide a step-by-step process for businesses to easily register through the Federal Tax Authority’s online portal. Additionally, we will explore the importance of seeking Expert VAT Services in UAE and the benefits it brings to businesses in terms of compliance, cash flow management, credibility, and competitive advantage. By equipping yourself with the knowledge and tools presented in this article, you will be better prepared to navigate the VAT registration process in the UAE and ensure your business’s seamless compliance with the tax laws, leading to enhanced growth and success.

Know whether your business need VAT registration or not?

VAT registration in the UAE is mandatory for businesses meeting specific criteria. These criteria encompass:
• VAT is mandatory for businesses in the UAE whose taxable supplies and expenses in the past year have surpassed the mandatory threshold of AED 375,000.
• VAT is applicable to businesses that expect their taxable supplies and imports to exceed AED 375,000 in the upcoming 30 days. It’s important to highlight that this threshold does not pertain to foreign companies. Moreover, businesses meeting either of the following conditions must opt for voluntary VAT
• The total value of taxable supplies and imports or taxable expenses during the last 12 months exceeds AED 187,500.
• It is expected that the taxable supplies and imports will exceed AED 187,500 in the next 30 days.

By considering these criteria, you can determine whether your business is subject to VAT registration in the UAE.

Easy Registration of VAT

To register for Value Added Tax (VAT) in the United Arab Emirates, businesses can follow a straightforward two-step process through the Federal Tax Authority’s online portal.

Step 1: Set up an e-service account on the Federal Tax Authority’s website.

Step 2: Access the newly created account and complete the VAT registration process.

By following these simple steps, unregistered businesses can easily register for VAT and comply with the tax regulations in the UAE. To successfully register for VAT in the UAE, businesses must create an e-Services account approved by the Federal Tax Authority (FTA). Follow these steps to set up your e-Services account

Step 1: Set up an e-service account:

1. Begin by visiting the Federal Tax Authority website and click on the “Sign-up” button on the home page. Provide essential details like your email ID, password, and security code.

2. Once you submit the form, an automatic verification email will be sent to your registered email ID.

3. Log in to your newly created e-Services account using your username and password.

Step 2: Complete the VAT registration process:

After creating your e-Services account and logging in, you can proceed to register for VAT by following these steps:

1. The “Get Started Guide” will appear, providing specific requirements for VAT registration in the UAE. Carefully read and understand the guide to avoid errors.

2. Click “Proceed” after reviewing the guide, and the VAT registration form will be presented, divided into nine sections

• Entity details
• Identification details
• Eligibility details
• Contact Details
• Business Relationships
• Bank details
• Additional details
• Authorized signatory
• Review and declaration

3. Complete all mandatory fields within each section, ensuring to save your progress as you fill out the form.

4. After providing all the necessary details, click “Save and Review” to review your answers before submission.

5. Now thoroughly review the form and ensuring the accuracy of the provided information, proceed by clicking “Submit for Approval.” Once submitted, your application status on the Dashboard will be updated to “Pending,” and you will receive a confirmation email acknowledging the receipt of your application

By following these steps and submitting accurate information, you can smoothly register for VAT in the UAE and comply with the tax regulations.

Importance of getting VAT Registration Services in UAE

VAT Services in UAE holds significant importance for businesses due to various compelling reasons. Some of these reasons include:

1. Ensuring Compliance: VAT registration is mandatory for businesses meeting specific criteria. By getting VAT Consultancy Services in Dubai, businesses can comply with the law, preventing potential penalties and legal complications.

2. Efficient Cash Flow Management: VAT-registered businesses can reclaim the VAT paid on their purchases. This helps to optimize cash flow, reducing overall costs and facilitating better financial management.

3. Enhanced Credibility: VAT registration signals professionalism and legitimacy to customers and suppliers. It establishes the business as a reputable entity that abides by tax regulations.

4. Avoiding Penalties: Failure to register for VAT can result in significant penalties and financial burdens. By completing the registration process along with experts, businesses can avoid unnecessary costs and legal repercussions.

5. Competitive Advantage: VAT-registered businesses can claim back input VAT on goods and services, allowing them to offer more competitive prices in the market and gain an edge over non-registered competitors.

Documents required for registration of VAT

When registering your business for VAT tax in the UAE through the FTA e-services portal, you will need to submit the following documents:

• A copy of your business trade license.

• Passport copies of the partners or company owners, as declared on the license.

• Copy of the company’s Memorandum of Association (MOA).

• Bank account details.

• Contact details of the company.

• Emirates ID copies of the business partners or owners.

• Description of the nature of performed businesses and activities.

• An income statement of last 12 months.

• Details of the taxable expenses of last 12 months.

• Anticipated income and expenditure for the upcoming 30 days after receiving the Tax Registration Number. Ensure that you have all the necessary documents in order to facilitate a smooth VAT tax registration process for your business in the UAE.

Check your application status:

To check the status of your VAT registration in the UAE, follow these steps and familiarize yourself with the relevant terms:

• Access the official website of the UAE Federal Tax Authority (FTA), where you initiated the VAT registration process.

• Use the credentials you created during the registration process to log in to your account.

• Once logged in, navigate to the section that allows you to review the progress of your VAT registration application.

Understand the application terms

a) Drafted: This status indicates that your registration form has not been completed or submitted yet.

b) Pending: If your application status is “Pending,” it means that the FTA has received your registration form and is either reviewing it or waiting for additional information from you.

c) Suspended: When your application is “Suspended,” it means that the FTA has received your registration form, and a Tax Registration Number (TRN) has been issued for your business. Additionally, your tax group registration, if applicable, has been approved.

d) Rejected: If the FTA has rejected your registration form, it means that your application was not approved, and you will need to address the issues or reapply if necessary.

e) Approved: When your registration status is “Approved,” it signifies that your VAT registration has been successful, and your business is now officially registered for VAT.

By checking your application status and understanding the provided terms, you can keep track of your VAT registration progress and ensure compliance with the UAE’s VAT regulations. Seeking professional VAT registration services can be advantageous for businesses, as it guarantees a streamlined registration process, adherence to the regulations, and expert guidance throughout the journey. Unlock the full potential of your business with Bestax’s VAT registration services and embark on a journey of compliance and prosperity in the dynamic landscape of the UAE. Reach out to Bestax today and take the first step towards VAT compliance and growth