Accounting & BookKeeping
Outsourcing your accounting and bookkeeping to professionals fuels growth and ensures compliance, unleashing your business’s full potential.
Staying in line with the compliance UAE, while focusing on profit generation.
Bypassing the need to recruit and train an internal accounting team
Not having to pay for expensive professional software
Why outsourcing accounting and bookkeeping is essential for your business?
Outsourcing your accounting and bookkeeping is not just a smart move, it’s a strategic investment in your business’s growth and compliance. By entrusting these critical tasks to experts, you’re not only freeing up valuable time and resources but also ensuring that your financial operations are handled with precision and efficiency.
Moreover, outsourcing allows you to focus on what you do best – growing your business. With the burden of accounting and bookkeeping lifted from your shoulders, you can redirect your energy towards core activities, driving innovation, and expanding your market reach.
- 100% security of your data
- Focus on revenue-generating tasks
- Huge savings by skipping employment of in-house accountants
- No need to purchase professional accounting software – we already operate one of the most effective accounting software on the market.
- Notifications on expirations of documentation
- Better decision-making and proper financial planning
How can Free Zone Bazaar help you with accounting?
Free Zone Bazaar brings a wealth of expertise and experience to the table, enabling us to navigate the complex financial landscape of the UAE with ease. We stay up-to-date with ever-changing regulations and best practices, eliminating the risk of errors and non-compliance that could potentially harm your business.
In essence, outsourcing your accounting and bookkeeping to Free Zone Bazaar is a cost-effective solution and a strategic decision that positions your business for sustained growth and long-term success. So why settle for anything less when you can elevate your operations and ensure compliance with the help of seasoned professionals?
Start saving money now.
FAQ
Owners don’t need to be present in the UAE to incorporate in the Free Zone, whereas presence is required for mainland licenses.
Popular company structures are Free Zone Company FZC (more than one owner), Free Zone Establishment FZE (Single Owner), Mainland Limited Liability Company (LLC), Mainland Civil Company for Professional Services, and Offshore Company.
The timespan to incorporate varies from each Authority; generally, it’s 3 to 5 days.
Free Zone companies are Onshore Resident companies that can do business within the UAE & internationally whereas Offshore companies are No-resident companies that cannot do business within UAE. Moreover, Offshore companies cannot have separate Office premises or Visa quotas under the company.
Mainland companies are resident companies that can be incorporated in the Mainland. investor can set up their office or warehouse in the Mainland. Free Zone company license is issued by the respective Free Zone Authority. Furnished offices and warehouses are available for investors.
UAE is blessed with more than 40 Free Zones and each Free Zone has its advantages and disadvantages. The ideal Free Zone can be identified only after getting the requirements from investors.
Company Formation in the UAE could be used as a method to save and lower taxes in the home country. There is no personal Income tax in the UAE, while the maximum applicable corporate tax is 9% (on specific types of companies and businesses). Hence, business profits, personal income, investments, etc, are either not taxable or bear significantly low tax rates in the UAE. Resident investors in the UAE coming from high tax-paying regions and countries could leverage the Double Taxation Avoidance Agreement (DTAA) and save taxes.
Yes, the UAE is a Tax Haven. Tax charged by the UAE Government is the Value-added-tax (VAT) of 5% on almost all consumer transactions in the UAE. Apart from the VAT, there is no other personal tax in the UAE.
Another type of tax in the UAE is corporate tax on profits. The maximum applicable corporate profit tax rate for Free Zone companies is 9%. Usually, it’s closer to 0,00%, depending on the type of business, clients, vendors and area of business for a specific company.
Not every company needs to pay VAT. Companies with taxable supplies and imports exceeding AED 375,000 per year need to register for VAT and are subject to pay VAT (5%) in UAE. For more information on VAT, contact us to get guidance based on UAE VAT laws and regulations.
Since obtaining a resident visa is not mandatory for shareholders or directors, it is possible to establish a company in UAE without a resident Visa,
It depends on the type of business you’re setting up. If you’re establishing a Mainland company, you’ll need a physical office space as per the regulations of the DED. However, if you’re setting up a Free Zone company, many Free Zones allow for flexi-desk options, which is a more cost-efficient alternative to a full-time office space. Alternatively, there’s the option of a virtual office. A virtual office in Dubai allows entrepreneurs to conduct business without needing physical premises.
Yes, the presence of the signatory is mandatory to apply for a bank account opening in UAE. The banker should verify the original passport and meet the signatory personally. This rule is valid for all UAE bank accounts: Resident, Non-Resident and offshore bank accounts in the UAE.
There is no minimum amount of money required to open a bank account or the initial deposit in order to open the Bank Account, like in other countries. However, UAE banks might require you to maintain a monthly average balance for the bank account. While applying for a bank account opening in the UAE, the specific package will be chosen based on your needs.
