Auditing & Accounting Firm in Dubai

A business must register for VAT if its taxable supplies and imports exceed the mandatory registration threshold of AED 375,000.

Furthermore, a business may choose to register for VAT voluntarily if its supplies and imports are exceed the voluntary registration threshold of AED 187,500.

Similarly, a business may register voluntarily if its expenses exceed the voluntary registration threshold.

All companies from various sectors are eligible for the ICV certificate such as Free Zone entities, Service Providers and Manufacturers. Companies that have been operating for 10 months are eligible too for this certificate.

The National In-Country (ICV) program is governed by the Ministry of Industry and Advanced Technology, so all the companies dealing with them directly or indirectly, prefer to deal with those suppliers who are ICV certified. So if you are ICV certified then you will get more businesses.

The ICV Certificate can be issued within 2-3 weeks once all requested documents are submitted.

Yes. As per Article No. 27 of Chapter 2 of New Commercial Companies Law, Federal Law No. 2 of 2015:

• Every Joint Stock Company or Limited Liability Company shall have one or more auditors to audit the accounts of the Company every year. The remaining forms of companies may appoint an auditor following the provisions of this Decree-Law.
• The Company shall prepare annual financial accounts including the balance sheet and the profit and loss account.