Accounting services in Dubai and the UAE
Accounting services in the UAE from Dynasty Business Adviser mean full support for the company’s finances by one team, without intermediaries. We work with entrepreneurs from the CIS and other countries and select the format for each specific business: one-time accounting setup, monthly bookkeeping or comprehensive outsourcing.
An accountant in Dubai from our company maintains accounting for different types of clients:
- companies in free zones and on the mainland;
- small businesses and start-ups;
- freelancers and holders of freelance licences;
- holding and trading structures that need tax and financial reporting.
Who must keep accounting records in the UAE: law and deadlines
Under UAE legislation, all legal entities registered on the mainland and in free zones must keep accounting and tax records from the first day after registration, undergo an annual external audit of financial activities and submit financial statements. The first report is filed no later than 18 months from the date of registration, and all subsequent reports are filed annually.
The obligation to keep systematic records appeared after the introduction of VAT, and from 1 June 2023, with the introduction of Corporate Tax, filing tax returns in the UAE also became mandatory.
All newly registered companies must register for Corporate Tax with the Federal Tax Authority (FTA) within 3 months from the company registration date.
Cabinet Resolution No. 36 of 2017 and the Federal Law on Tax Procedures (No. 7 of 2017) require accounting books, invoices and other reporting forms to include:
- the balance sheet and profit and loss statement;
- fixed asset records;
- payroll records, income received and expenses incurred;
- inventory records and stock cards.
Article 26 of the Federal Law on Commercial Companies (No. 2 of 2015) provides for mandatory retention of accounting books, receipts and invoices for at least 5 years after the end of the reporting period, accounting in accordance with International Financial Reporting Standards (IFRS), and the possibility of storing electronic copies of documents.
For tax purposes, storage periods are longer: at least 7 years for trading, service and manufacturing companies, and at least 15 years for real estate companies.
Violation of accounting requirements leads to fines, VAT issues, bank checks and refusal to renew the licence. Therefore, it is better to set up accounting correctly from the very beginning.
Bookkeeping for companies in UAE free zones
Companies in UAE free zones are also required to keep accounting records and prepare financial statements. Requirements depend on the specific free zone: some free zones — in particular DMCC, Dubai Airport Free Zone (DAFZA), Dubai South and IFZA — require a mandatory audit regardless of the company’s turnover, while in others it is sufficient to prepare audited financial statements without mandatory submission. At the same time, audited financial statements are increasingly required for licence renewal and bank compliance.
A UAE free zone accountant from Dynasty helps determine the requirements of your zone, set up IFRS accounting and prepare reports so that licence renewal and work with the bank proceed without delays.
Accounting for mainland companies in the UAE
For mainland companies (primarily LLCs, private and public joint-stock companies), bookkeeping and submission of financial statements are mandatory. At the same time, mandatory submission of an audit report for a local company is not required by default — but becomes mandatory if annual turnover exceeds AED 50 million. Such companies keep full accounting records, register for tax purposes and file Corporate Tax returns even if there is no taxable profit.
We explain below exactly when an audit becomes mandatory. We maintain accounting for mainland companies in Dubai, Abu Dhabi, Sharjah, Fujairah and other emirates — from primary documents to interaction with the FTA.
Tax accounting in the UAE: VAT and Corporate Tax
Tax accounting is part of accounting: it is the control of income and expenses to determine net profit and correctly calculate taxes. In the UAE, there are two main taxes — VAT and Corporate Tax.
- VAT. The standard rate is 5%. Mandatory VAT registration in the UAE is required when taxable turnover exceeds AED 375,000; voluntary registration is possible from turnover of AED 187,500. With voluntary registration, the rate may be zero, but reporting to the FTA is still filed: quarterly, and with a large number of transactions — monthly.
- Corporate Tax. The Corporate Tax rate in the UAE is 0% on annual profit up to AED 375,000 and 9% on the amount above this threshold. The return is filed annually. Companies that meet the conditions for qualifying activity in a free zone may qualify for the preferential regime — but only with separate, correctly prepared reporting.
In some cases, registration with the Federal Tax Authority (FTA) and obtaining a Tax Registration Number (TRN) is required from the first day of the company’s operation — if government authorities or counterparties require it. Registration and filing of returns are carried out through the EmaraTax system. Even companies not registered as taxpayers must keep tax records in case of an FTA inspection.
We take care of tax registration, control of income and expenses, timely filing of returns and correct payment of taxes.
Financial statements and ESR requirements in the UAE
According to Federal Law No. 32 of 2021 on Commercial Companies, annual audit and submission of financial statements in Dubai and other emirates are mandatory for private and public joint-stock companies, local LLCs on the mainland, as well as companies in a number of free zones. Documents are kept for at least 5 years and provided upon request of regulators.
ESR (Economic Substance Requirements). Accounting in the UAE is also needed to confirm economic substance requirements (ESR in the UAE). This is an OECD requirement aimed at combating base erosion. According to Cabinet Resolution No. 31 of 2019, companies conducting certain types of activities must confirm economic substance: banking and insurance services, distribution and service centres, intellectual property business, investment fund management, shipping, finance leasing, holding company management and group headquarters activities.
The ESR report must be filed within 12 months after the end of the financial year. Non-compliance may result in fines, notification of the competent authorities in the investor’s country, cancellation of the licence or refusal to renew it.
Accounting audit in the UAE
Audit in the UAE is mandatory in several cases:
- Turnover above AED 50 million. If the company’s annual turnover exceeds AED 50 million, audit is mandatory — this rule applies to all companies regardless of where they are registered: on the mainland or in a free zone (Ministerial Decision No. 82 of 2023).
- Tax qualification. For companies applying for Qualifying Free Zone Person status to apply the preferential Corporate Tax rate, audited financial statements are mandatory.
- Bank financing. If you plan to obtain loans, guarantees or borrowings, banks require an annual audit.
- Free zone requirement. A number of free zones require an audit regardless of turnover — in particular DMCC, Dubai Airport Free Zone (DAFZA), Dubai South and IFZA.
An audit in the UAE must be external: by law, the audit firm must be independent and cannot be the same company that keeps your accounting records. Therefore, we do not conduct the audit ourselves — but we fully support the process: we select an accredited audit firm registered with the Ministry of Economy, prepare the statements for review and maintain constant communication with the auditor on your behalf. This is separate, meticulous work that we take on so that the audit proceeds in an orderly manner and without delays. More about the audit of companies in the UAE is available on a separate page.
Payroll calculation and WPS in the UAE
If the company has employees, payroll calculation in the UAE and work with the Wage Protection System (WPS) are added to accounting — this is the mandatory salary payment system through authorised banks. We register the company in WPS, process payments through authorised banks and maintain HR records in accordance with UAE labour law.
Accounting software: Xero, QuickBooks and Zoho Books
Accounting in the UAE is kept in accredited accounting software. We work with systems popular in the Emirates — Xero, QuickBooks, Zoho Books, Tally — and select a solution for your business and volume of transactions. We set up Zoho Books on a turnkey basis.
This is convenient for remote bookkeeping: you see the company’s financial position in real time, while reports are generated faster and with a lower risk of errors. Upon request, we set up IFRS accounting and integration with bank statements.
What is included in accounting support?
Accounting services in the UAE from Dynasty Business Adviser include:
- consultations on bookkeeping and preparation and submission of financial and tax reporting;
- remote bookkeeping or bookkeeping at your office;
- checking compliance of accounting with International Financial Reporting Standards (IFRS);
- audit coordination and engagement of authorised external auditors;
- registration with the FTA and obtaining a Tax Registration Number (TRN);
- preparation and filing of ESR reports;
- one-time tasks: WPS registration, salary payments through authorised banks, reconciliation of bank transactions with invoices and other individual requests.
A package solution for accounting and tax support will cost less than the same services purchased separately.
Accounting outsourcing in the UAE: advantages
By outsourcing accounting in the UAE, you receive:
- qualified specialists with accounting experience in Dubai, Abu Dhabi, Sharjah, Fujairah and other emirates who monitor changes in legislation;
- comprehensive support and objective analysis of the financial position of the business for management decisions;
- a high level of confidentiality — documents are stored on the company’s own server;
- an individual approach to each business;
- savings on maintaining an in-house accounting department.
Cost of accounting services in the UAE
The cost of accounting services in the UAE depends on the scope of work and the number of transactions per month and is fixed in the agreement. Basic bookkeeping starts from AED 1,100 per month.
One-time and annual services
| Service | Price, AED | Frequency |
|---|---|---|
| FTA registration for VAT purposes | 2 000 | one-time |
| FTA registration for Corporate Tax purposes | 1 300 | one-time |
| Zoho Books setup | 129 | one-time |
| Audit support | from 5 000 | per year |
| Filing of nil returns | 1 500 | per year |
Bookkeeping by number of transactions
| Transactions per month | Monthly cost, AED |
|---|---|
| up to 10 | 1 100 |
| up to 25 | 1 500 |
| up to 50 | 2 100 |
| from 50 to 100 | 3 100 |
| from 100 | individual quote |
The final cost is determined individually when preparing and signing the agreement — depending on the scope of services and the number of transactions. To receive a calculation, contact our managers for a free consultation.
Get a quoteStages of work
To order accounting support in the UAE, you need to:
- contact us and discuss the details of cooperation;
- sign an agreement with the list of services and the cost of work;
- provide the necessary financial documents according to the checklist or give access to them.
After receiving the documents, the specialists start maintaining the accounting records of your company.
Why choose Dynasty Business Adviser?
- 11 years of experience. We maintain accounting, reporting and tax planning, and build work with banks and regulators.
- No intermediaries. We interact with UAE government authorities and commercial structures ourselves — one team is responsible for the entire process.
- Confidentiality. Contracts, invoices, payroll and tax reports are processed within specific tasks; data is not disclosed.
- Comprehensive approach. Primary documents, returns, tax planning and audit — turnkey, with a single point of responsibility.
- Individual approach. We select the optimal solution for the tasks and scale of the business.
Need turnkey accounting in the UAE? Get a free consultation — message us on Telegram or WhatsApp: +971 52 634 1022.
