Business

What about auditing business setup in Dubai?
Business

What about auditing business setup in Dubai?

- by Lily Campbell

Key Takeaways:

  • Auditing requirements for a Business setup in Dubai vary significantly between mainland and free zone companies.
  • Mainland companies (LLCs, PJSCs) are generally required to undergo annual statutory audits as per UAE Commercial Companies Law.
  • Many free zones (including Meydan Free Zone in Dubai) also mandate annual audits, especially for license renewal.
  • The introduction of Corporate Tax has made audited financial statements mandatory for “Qualifying Free Zone Persons” and taxable persons with annual revenues exceeding AED 50 million.
  • Audits ensure financial transparency, regulatory compliance (including IFRS), and enhance business credibility.

Dubai’s vibrant economy and proactive approach to international business standards mean that establishing a Business setup in Dubai comes with specific regulatory expectations, particularly concerning financial transparency. Auditing plays a crucial role in this framework, ensuring that companies operate compliantly and maintain accurate financial records. While the extent of mandatory auditing can depend on various factors, understanding these …

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Exit strategy Business setup in Dubai?
Business

Exit strategy Business setup in Dubai?

- by Lily Campbell

Key Takeaways:

  • An exit strategy is a proactive plan for leaving a business, crucial for maximizing returns and minimizing complications.
  • Common exit strategies include selling the business (trade sale, M&A, management buyout), liquidation, or family succession.
  • The legal process for exiting a Business setup in Dubai varies slightly between mainland and free zones.
  • Proper due diligence, financial preparation, and legal consultation are essential for a successful exit.
  • Planning an exit strategy from the initial Business setup in Dubai phase can significantly enhance your business’s future value.

While the excitement of starting a new venture in Dubai is undeniable, a truly strategic approach to Business setup in Dubai also involves planning for the end from the very beginning. An exit strategy is not a sign of pessimism, but rather a blueprint for how founders and investors can eventually realize their investment, transition out of the business, or even gracefully wind down …

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