Assistance with audits
The UAE government watches the business environment and minds the provenance of foreign capital very much. It is common for local banks, vendors, investors, and free zone authorities to audit foreign entrepreneurs in the UAE.
Red tape is so intractable it has given rise to a myth that claims the UAE government may forbid banks to open accounts for companies from a specific country. In actual fact, only those entities that conduct no real business operations or have no plans to pursue such operations can run into difficulties.
Have no fear that any confidential information may escape the privacy of your files during an audit of your tax returns. In the UAE, accountants have to fulfill exceedingly stringent qualification requirements, and the quality of their work is watched very closely by the regulator. This is not AWATERA’s first year in the UAE. We also get audited every year, and we help our clients pass their audits with flying colors.
On top of aiding you with opening your company in the UAE, AWATERA will help you launch your business operations in keeping with the local regulations. We advise on the different branches of local law, we draft and translate the required executive documents, we navigate our clients through the immigration and employment procedures, represent our clients vis-a-vis authorities, cause documents to be witnessed by a Dubai court, and perform background checks on counterparties and partners.
Our Clients' FAQ
All mainland companies and freezone companies undergo an annual financial audit. Some Free Zones have no audit requirements, but do require you to file an Economic Substance Report (ESR) to do certain types of business.
While it is true that businesses are not liable to income taxes in the UAE, in many cases they are nonetheless required to file their tax returns. The central purpose of a tax audit, as far as the government and your counterparties are concerned,
is to make sure you carry on bona fide business. AWATERA consultants are prepared to help your business navigate any audit with flying colors.
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