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Archives: Services

Company Formation in DIFC

A secure and efficient forum for businesses and financial organizations to reach into the region's emerging markets

Dubai International Financial Centre (DIFC) is one of 30+ Dubai Free Zones that is located between the East and West. DIFC delivers a safe and efficient platform for businesses to reach into and out of the emerging markets of the region. The quality and range of DIFC’s self-reliant regulation, framework of ordinary law, supportive infrastructure, and tax-friendly administration make it the ideal location from which to capitalize on the region’s constantly expanding need for financial and business services. The DIFC is unique because its legal system is consistent with “English common law.”

DIFC Company Formation

The DIFC’s goals are to deliver a forum for DIFC company formation and particularly financial organizations to operate a business with the region’s emerging markets. It is an international economic centre nestled in the centre of Dubai. It is bounded by an area rich in natural resources.
DIFC helps client growth through authority business process streamlining, service advancement, and improved management structures aimed at a superior client experience. One of the principal factors behind the success of DIFC is its self-reliant risk-based regulator i.e., the Dubai Financial Services Authority (DFSA), which grants licenses and controls the activities of financial services conducted through DIFC.

Benefits of Company Formation in DIFC

The following are the benefits of Company formation in DIFC :

LEGAL AND REGULATORY FRAMEWORK

  • The legal framework supports cross-border activities.
  • 100% foreign ownership permitted.
  • No restriction on foreign talent or employees.
  • No restrictions on capital repatriation.

TAX BENEFITS

  • Zero tax for 50 years on profits, capital or assets from 2004.
  • Zero tax on employee income.

COUNTERPARTY CONFIDENCE

  • Highly regarded, independent regulator.
  • Independent, English-speaking, common law judicial system.
  • Distinct from the UAE legal system.
  • Risk-based regulatory approach.
DIFC

DIVERSE ECOSYSTEM

  • Central to regional deal-making without any restrictions.
  • Presence of well-known international firms, investment and wealth management firms, banks, and financial institutions.
  • Professional auditing and tax services with complete knowledge.
  • The largest fund domicile in the region.

GEOGRAPHIC EPICENTER

  • Working areas, including holding companies and family offices, are closer to the assets that they manage.
  • The Middle East, Africa and South Asia (MEASA) is rapidly becoming a centre of gravity for the global economy.
  • Dubai plays a vital role in the growing trade, primarily between Asia and Africa.
  • Positioned centrally to reap the benefits of emerging markets.

Why Set Up a Business in DIFC?

There are several reasons to build a business in the Dubai International Financial Centre (DIFC). The DIFC delivers a world-class regulatory environment and an extended range of business activities to banks, financial institutions, and professional services firms. The DIFC is also a convenient location for corporations in the Middle East and North Africa. With a strong legal system and English as an official language, DIFC welcomes a West-oriented business model. Thus the DIFC is an important financial hub in the Middle East and is home to several popular banks and financial organizations. The Centre is also a favored choice for setting up a business due to its low taxes and easy business set-up process.
business meeting

Key Steps for Establishing a Business in DIFC

The following factors are to keep in mind while establishing a business in DIFC:
  • You should first choose your company's legal structure to determine the types of licenses and approvals you will need to obtain beforehand. This will help you plan better with an understanding of legalities and peace of mind
  • Once you have a strategy, you need to secure the necessary financing for your business. This may involve approaching local banks or financial institutions for help.
  • You need to obtain the required business licenses and permits from the DIFC Authority for execution.
  • Lastly, you need to find suitable office space within DIFC after registering your business with the DIFC Registrar of Companies.
Following these steps will ensure that your business is properly set up and compliant with all the relevant laws and restrictions. With the most favorable business environment and effortless company set-up process, the DIFC is the perfect spot to start establishing your business in the Middle East.

Document Required for Business setup in DIFC

  • Proof of trade name reservation
  • Passport(PP) Copies for the shareholder(s)
  • List of  activities to obtain the relevant license in DIFC
  • Personal Information sheet for each shareholder & manager
  • Passport copy and C.V of the Manager
  • Notarized Power of Attorney appointing as your legal representative, So that we can act on your behalf and/or on behalf of the shareholders.
  • Lease agreement – Lease Documents Having a physical address for your venture/office is a Compulsory requirement in the UAE. The rent on average within the free zone area is US$ 25 up to US$ 45 per sq. / ft. (US$ 225 up to US$ 400 per sq. /m.). Our company can assist you while searching for your Physical address.
  • You might require to submit other documents as well to fully complete the process.
There are some activities which might require third-party / authority pre-approval – accordingly additional costs and professional fees might be applicable. Contact us to know more.

What We Offer?

Our company formation specialists suggest to our clients the best possible way to structure their business per the business activities which our clients are willing to undertake. Our experienced professionals can help you in dealing with all the legislative requirements in an efficient and cost-effective way so that you can implement your business activities according to the land with no legal worries.
At Adepts, we assist companies and organizations in setting up their business in DIFC. The DIFC can carry out the following financial service activities:
  • investment banking
  • private banking
  • fund management
  • asset management
  • brokerage
  • investment advisory services

frequently asked questions

DIFC (Dubai International Financial Centre) is a free-zone located in Dubai, United Arab Emirates. It was established in 2004 with the purpose of attracting international financial services and companies to the region. It operates as an independent jurisdiction with its own legal system, tax regime, and regulatory framework. The DIFC is a hub for many regional and international financial institutions and offers a business-friendly environment and world-class infrastructure.

Setting up a business in the DIFC offers several advantages, including:

  • Access to a large pool of international talent and expertise
  • Zero tax on income and profits
  • Strategic location within close proximity to major Middle Eastern, African and South Asian markets
  • Access to a well-developed financial and regulatory infrastructure
  • A supportive and conducive business environment that enables the growth of companies
DIFC offers a wide range of company setup options, including limited liability companies (LLCs), branches of foreign companies, partnerships, limited partnerships and sole proprietorship companies. The DIFC also has specific provisions for financial services companies, such as banks, insurance companies, investment firms, and others.

The eligibility criteria for setting up a business in DIFC are as follows:

  • The business should be owned by an individual or company registered outside the UAE
  • The business should provide financial or professional services
  • The business should be approved by the DIFC Authority
The time required to set up a business in DIFC depends on several factors, such as the type of business, the complexity of the business model, the availability of necessary documents and approvals, and others. Typically, it takes between 4 to 8 weeks to set up a business in DIFC.

The costs involved in setting up a business in DIFC include:

  • Application fee
  • Company registration fee
  • Office rental
  • Legal and regulatory fees
  • Licensing and visa fees

 

The exact cost of setting up a business in DIFC will depend on the type of business, the size of the office, the number of visas required, and other factors.

The following documents are required for setting up a business in DIFC:

  • Business plan
  • Company profile
  • Passport and visa copies of all shareholders
  • Proof of address for all shareholders
  • Company registration documents
  • Memorandum and articles of association
The visa requirements for setting up a business in DIFC depend on the type of business and the number of employees. Typically, a business visa is required for the sponsor, the manager, and the employees of the business. The visa process requires the submission of several documents, including passport copies, proof of address, and others.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Company Setup

services

Company Setup

Embark on your business journey with confidence using our comprehensive Company Setup services. Whether you're looking to establish your presence in a Free Zone or Mainland area, our adept team is here to guide you through every step, ensuring a smooth and efficient setup process tailored to your business needs.
Business setup services being discussed in a professional environment.

UAE Free Zones

Setting up in a Free Zone offers a host of benefits, including tax exemptions, 100% foreign ownership, and more. Our Free Zone company setup services are designed to maximize these advantages for your business. We provide end-to-end guidance on choosing the right Free Zone, understanding the specific regulations, and handling all the administrative procedures so you can focus on growing your business.
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UAE Mainland

For those looking to immerse themselves in the local market, a Mainland company setup is the way to go. We navigate you through the regulatory landscape, offering expert advice on legal structures, compliance, and local sponsorship requirements. Our team ensures your Mainland setup aligns with your business objectives, providing a solid foundation for your operations and growth.
View Detail
Graphic representation of free zone company formation services in Dubai.

Finance Function Set-Up and Process

Understand and Manage your Company's Financial Resources

The accounting and finance function is primarily responsible for maintaining the accuracy of financial records, tracking cash flows, and developing financial statements. Accounting and financial analysis allow companies to make better decisions regarding their assets, liabilities, investments, taxes, and other assets.

What is Financial Function Set-up?

Financial Function Set-Up is the process of establishing a company’s financial system and procedures to ensure accurate and timely recording, tracking, analysis and reporting of financial transactions. This involves setting up the organizational structure of the accounting and finance department, developing accounting policies and procedures, implementing internal controls over financial activities, selecting appropriate software applications for record-keeping and reporting, as well as establishing systems for compliance with legal, regulatory and other applicable requirements.

Why is it Necessary for your Business?

Proper accounting and finance functions are essential components of a successful, well-run business, as they provide information that is crucial to the company’s financial health. With proper accounting and finance functions, businesses can better budget and forecast their income and expenses, maintain compliance with financial regulations, and ultimately achieve success in their respective industries. Furthermore, having these functions in place can help build credibility with customers, vendors, and other stakeholders. Having proper accounting and finance functions also allows businesses to gain insight into the performance of their operations on both a macro and micro level. This type of analysis can help identify areas for improvement within the organization as well as reveal opportunities for growth or expansion. Additionally, having these functions in place will provide the necessary data to make informed decisions regarding cash flow management or long-term investment strategies.
Image depicting the essential functions of a finance department setup in a company, highlighting roles and responsibilities.

Benefits Of Accounting And Financial Set-Up ​

Accurate financial reporting
Accounting and finance functions help businesses maintain accurate financial records, which can be used to generate reports that detail profits, losses, assets, and liabilities. These records and reports accurately depict the business’s current financial standing. They can be used as a basis for measuring progress and making informed decisions about future investments or changes in operations.
Comprehensive Budgeting
Without proper accounting and finance functions, businesses cannot accurately budget for their expenses or forecast potential income. With comprehensive budgeting capabilities, businesses can better manage their cash flow by creating plans to allocate resources according to their goals and needs. This helps ensure that businesses can operate without over-extending themselves financially.
Compliance with Regulations
Accounting and finance functions help businesses comply with applicable laws and regulations regarding taxes, payrolls, audits, accounting standards, and other related issues. Businesses can avoid costly fines or legal ramifications associated with noncompliance by having a team of professionals dedicated to these tasks.
Businessman analyzing financial charts on a mobile phone and tablet, illustrating finance department functions in a company.
Illustration of financial analysis, showcasing the roles and responsibilities of the finance department within a company.

Improved Decision-making

Access to accurate financial data allows business owners to make informed decisions about growth strategies, investment opportunities, expansion projects, and more. With the right information at their fingertips, businesses can proactively analyze risks versus rewards before committing funds or entering into contracts with vendors and customers.
Increased Visibility
The accuracy of financial records generated from accounting and finance functions also provides better insight into the performance of the business, which can help identify areas for improvement or opportunities for growth that may have overlooked in the past due to inadequate record-keeping practices. Additionally, gaining visibility into the financial health of a business allows stakeholders such as investors or banks to gain trust in the company’s ability to fulfill its obligations before offering financing services or other forms of capital support.

Process of Setting up Accounting and Finance Functions

Step-by-step visual guide to setting up a finance department in a company, detailing its essential functions.

Step 1
Defining the Purpose and Objectives of the Accounting and Finance Function

Some key objectives include:
  • Ensuring financial records are accurate and complete
  • Providing financial information to management for decision-making
  • Effectively managing the company's financial resources
  • Meeting legal and regulatory requirements
  • Managing the company's cash flow and liquidity

Step 2
Assess the Current Accounting and Finance System

Some key objectives include:
  • The current accounting software and systems
  • The current accounting and finance procedures and processes
  • The current level of automation and technology
  • The current staff and resources available to support the function
  • The current level of compliance with legal and regulatory requirements.
Image illustrating the various roles within a finance department, emphasizing their importance in company operations.
Visual representation of finance functions in action within a company, highlighting the key responsibilities of the finance department.

Step 3
Identify the Resources Needed to Set Up the Accounting and Finance Function

Some key objectives include:
  • Accounting systems and software
  • Tools and templates for financial reporting
  • Audit and compliance software and systems
  • Recruiting staff, including accountants, financial analysts, and compliance experts
  • Staff training and development resources

Step 4
Develop a Plan for Implementing the Accounting and Finance Function

Some key objectives include:
  • Installation of accounting software and systems
  • Implementation of new accounting and finance processes and procedures
  • Staff training on the new software
  • Implementing new tools and templates for financial reporting
  • Ensuring compliance with legal and regulatory
Image showcasing financial reporting and analysis, key functions of the finance department in a company.
Finance professionals collaborating on financial strategies, representing the roles and responsibilities within a finance department.

Step 5
Monitor and Evaluate the Accounting and Finance Function

Some key objectives include:
  • The accuracy and consistency of financial records
  • The efficacy of accounting and finance processes and procedures
  • The amount of automation and technology employed
  • The level of compliance with legal and regulatory standards
  • The efficacy of financial reporting tools and templates

frequently asked questions

The steps involved in setting up an accounting and finance function include: defining the business's financial goals, determining the financial reporting requirements, selecting accounting software, hiring and training personnel, and establishing internal controls.
Selecting the right accounting software is critical to the success of an accounting and finance function. It is important to choose software that is easy to use, scalable, and provides the necessary financial reporting and analysis capabilities.
An accountant should have a relevant bachelor's degree, such as in accounting or finance, and certifications, such as a Certified Public Accountant (CPA), Chatered Accountant (CA) or ACCA.
Technology plays a significant role in setting up an accounting and finance function. From selecting accounting software to automating processes, technology helps to improve accuracy, efficiency, and the overall effectiveness of the function.
Common mistakes to avoid when setting up an accounting and finance function include failing to align financial goals with business goals, not properly training personnel, not implementing internal controls, and choosing the wrong accounting software.
To ensure that the accounting and finance function is running effectively, it is important to regularly review financial statements, implement internal controls, and conduct regular audits. Additionally, it is important to continuously assess and update processes and procedures to improve efficiency.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Property Valuation

Get an accurate estimate of your property with our highly qualified chartered surveyors who specialize in property valuation for residential and commercial spaces

If you want to sell your property in UAE, you must be looking for a real estate agent or someone who can provide you with an estimate of how much it may cost. Calculating a property’s worth is important for you to determine how much you will be able to sell the property for.
Our team at Adepts consists of highly qualified chartered surveyors who specialize in both residential and commercial valuations. We provide a self-reliant and comprehensive report and advice for a spectrum of different assets like apartments, villas, offices, large-scale development projects and buildings. We provide our service to our clients in a variety of different sectors for a variety of purposes according to the demands of our clients.

What is a Property Valuation Service?

Property Valuation Services can play an essential role in the efficient market by providing accurate and fast property valuations used to calculate loan, lease, and mortgage applications. This service is crucial to avoiding costly mistakes during the purchase process or verifying property value before buying a new home (or selling).
Whether you are a seller or a buyer, everyone can benefit by getting an accurate estimation from experts in this field. These property valuation services offer many services, from residential to commercial property valuation.

Why do you need a Property Valuation Service?

If you are considering selling or buying a property in UAE, you need to hire a property valuation company because it will let you know the worth of the property. We at Adepts provide professional service and advice to our clients regarding such matters to make things easier for our clients.
Getting an estimate of your property is the process of property appraisal. It is important to get an accurate valuation as this will determine how much you will be able to sell or buy the property for.

Property valuation in UAE is an important procedure that helps define the value of real estate. And this value can be utilized for many purposes, including mortgages, insurance, and tax assessments. A professional values will consider many different factors when conducting a valuation, such as the property/ real estate’s location, size, condition etc.

Real estate agent discussing property valuation with clients
Graphic showcasing the various services offered by property valuation companies.

Benefits of engaging expert team of Property Valuers

We have an extraordinary reputation with our clients and a proven track record of satisfied companies and individuals who received our services. Our highly qualified team of professionals follows international standards and accepted marketing practices. They are also licensed by various land government agencies in UAE. We can handle any type of real estate asset, from small businesses to high-profile clients.

The following are the key benefits of hiring our Property Valuation Services:
  • Maximize value
  • Strengthen credibility
  • Reliable valuation reports
  • Good planning
  • Expert advice available all the time

What services do we offer?

We value residential, commercial and industrial, and trading real estate assets with the best of results, service, and value for money. Our property valuation services are extended on an arm’s length basis and equally professionally.
We offer:
  • Real Estate Valuation
  • Residential Property Valuation
  • Commercial property valuation
  • Business valuation
  • Property Inspection
  • Machinery valuation
Consultation session for small business services in the UAE.

frequently asked questions

Property valuation will help determine a range of values for the property in question. It can help you make a better decision for your property.
Property valuation helps the buyer make an informed decision before buying a property. A property valuation involves a thorough inspection of the real estate. The in-depth inspection often leads to finding potential points that might lead to getting a better deal on the property.
Sellers need to have a clear idea about the estimated value of their property as per the market trends. Setting a value that is way higher or way lower than the market trends can lead to a delay in making the sale.
The cost of property valuation depends on the size and type of property that is being valued and estimated.
The property valuation procedure may take 2 days to complete if the property being valued is a single property unit.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Selling a Business

Get your business ready for sale with Adepts Chartered Accountants!

Our experienced team of accountants provides a wide range of accounting, auditing, and financial services to businesses in the UAE. Let us help guide you through the complex process of selling your business and ensure it is presented in the best light to potential buyers.
Deal advisory transaction services performing due diligence for effective risk management

What do we do?

At Adepts, we are dedicated to providing a comprehensive array of accounting, auditing, and financial services to businesses in the UAE. Many business owners don’t realize just how complex selling a business can be. That’s why our team of chartered accountants is here to serve as trusted advisors and guide through the selling process.
We understand the importance of navigating complicated financial regulations, market conditions, and buyer expectations in order to maximize successful outcomes for all parties involved. With extensive experience and knowledge of selling businesses in the UAE, you can trust that our team will make a hassle-free selling experience.

How do we sell your Business?

We understand that selling a business can be a complex and time-consuming process, and our team of experienced chartered accountants is here to help guide you through the process and ensure that your business is presented in the best possible light to potential buyers.

Pre-sale Business Valuation

The first step in selling a business is to determine its value. Our team of chartered accountants has the expertise and experience to provide accurate and reliable business valuations. We use a variety of methods, including the market approach, the income approach, and the asset approach, to determine the fair market value of your business. This will help you to set a realistic asking price and negotiate with potential buyers.
Diverse business team collaborating in a modern office environment
Unidentified business professionals in a meeting analyzing charts on a tablet

Preparation of Financial Statements

When selling a business, it is essential to have accurate and up-to-date financial statements. Our team of chartered accountants can help you to prepare financial statements that accurately reflect the financial position of your business. This includes preparing the balance sheet, income statement, and cash flow statement. We will also ensure that your financial statements are compliant with all relevant accounting standards and regulations.

Tax Planning and Compliance

Selling a business can have significant tax implications, and it is important to plan ahead to minimize any potential tax liabilities. Our team of chartered accountants has extensive experience in tax planning and compliance and can help you to understand the tax implications of selling your business. We will work with you to develop a tax strategy that minimizes your tax liability while ensuring compliance with all relevant tax laws and regulations.
Post-sale support services in a professional office context
Illustration of regulatory compliance in business operations

Legal and Regulatory Compliance

When selling a business, it is essential to ensure that the business is compliant with all relevant legal and regulatory requirements. Our team of chartered accountants can help you to review your legal and regulatory compliance and identify any potential issues that need to be addressed. We can also work with you to develop a plan to address any compliance issues and ensure that your business is compliant with all relevant laws and regulations.

Marketing and Advertising

In order to attract potential buyers, it is important to market and advertise your business effectively. Our team of chartered accountants can help you to develop a marketing and advertising strategy that effectively promotes your business to potential buyers. We can also help you to prepare marketing materials such as brochures and flyers, and assist with online and offline advertising efforts.
Marketing strategy session with professionals discussing ideas.
Business negotiation taking place between two professionals

Negotiations and Closing

Once you have found a potential buyer, the next step is to negotiate and close the deal. Our team of chartered accountants has the experience and expertise to help you to negotiate the best possible terms for your business. We can assist with drafting and reviewing legal documents, such as purchase agreements and closing documents, and ensure that the deal is completed in a timely and efficient manner.

Post-Sale Support

Our services don’t end once the sale is complete.Our team will work with you to ensure a smooth transition for both you and the new owner, and provide any necessary support during the first few months after the sale.
Group of professionals working together on laptops in an office.

frequently asked questions

The process usually involves finding a buyer, valuing the business, negotiating a sale price, and closing the deal.

Business valuation can be done by considering factors such as revenue, profit, assets, liabilities, and market trends.

You can find a buyer through merger and acquisitions experts, online marketplaces, advertising, or by reaching out to potential buyers directly.
It can take several months to sell a business, depending on factors such as the size and complexity of the business and the availability of buyers.
The sale of a business can result in capital gains tax or other taxes, depending on the specific circumstances of the sale. Consult a tax professional for advice.
Yes, you can sell a business with debt, but the debt may affect the value of the business and the terms of the sale.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Transfer Pricing in UAE

The United Arab Emirates (UAE) joined the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS) on May 16, 2018.

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The introduction of the Corporate Tax Regime in the UAE, effective June 1, 2023, would also bring Transfer Pricing Regulation, mandating arm’s-length transactions between connected parties.
The United Arab Emirates (UAE) joined the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS) on May 16, 2018.
By accepting the Inclusive Framework, the United Arab Emirates has committed to implementing BEPS basic standards, including Transfer Pricing Documentation and Country-by-Country Reporting (“CbCR”).
Visual representation of the cost plus method for transfer pricing in UAE.

What is Transfer Pricing?

“Transfer Pricing” refers to the transaction price between two connected parties. In a tax context, this type of transaction is conducted between two affiliated businesses and is frequently referred to as a “Controlled” transaction. Therefore, “Transfer Pricing” is the price at which a business transfers:
  • Physical commodities
  • Intangible goods or
  • Provides services to affiliated businesses.
Transfer pricing refers to all pricing arrangements made between linked parties.

What is the Arm's Length Price?

The arm’s-length price (ALP) of a transaction between two affiliated firms is the price that would have been paid if the transaction had occurred between two equivalent independent and unconnected parties, where the primary consideration was commercial.
Illustration of the implementation of transfer pricing strategies in the UAE.
Analysis of transactions for effective transfer pricing strategies in Dubai.

Transfer Pricing Documentation

Businesses are required to comply with transfer pricing standards and documentation requirements derived from the OECD Transfer Pricing Guidelines.
Transfer pricing documentation will help taxpayers demonstrate that their transactions comply with the arm’s length principle, so preventing transfer pricing problems. If the amount and complexity of a company’s international and domestic activities expand, transfer pricing concerns will arise, resulting in a considerable increase in compliance expenses for taxpayers.
In this regard, it is observed that clear and broadly approved documentation norms can reduce compliance expenses that might otherwise result from a transfer pricing disagreement. To address such challenges, a company must have the necessary resources, such as an in-house or outsourced tax expert with knowledge of transfer pricing rules and foreign transactions.
Generally, a self-declaration about conformity with TP requirements must be provided online alongside the tax return.

Why Transfer Pricing?

Transfer Pricing regulations are applicable under the following conditions:
When businesses in the same country are divided into multiple departments or divisions and
  • Business Management demands the identification of value-generating company activities.
  • A division of the group offers services or transfers items to another division of the same company, and it is necessary to determine the profitability of each division;
In the case of international transactions:
  • When transactions involving tangible supplies, services, finances, or intellectual property occur between companies that share ownership and control.
Clipboard labeled 'TRANSFER PRICING' with a bar graph and a calculator, representing financial analysis

Documentation Model Under OECD Guidelines

In accordance with OECD transfer pricing rules, authorities use a three-tiered strategy for transfer pricing paperwork, which includes:
Master file – contains standard data for all MNE group members
Local file — transactions involving local taxpayers
Country by Country Report – Global allocation of the MNE group’s income and taxes paid, indicators of the location of the MNE group’s economic activities.

Local File

In accordance with applicable laws and regulations, business entities that engage in transactions with linked parties must keep accurate records and files. The local file for OECD recommendations includes:
Regional Entity
  • Description of local entity’s management structure
  • A thorough overview of the firm and its strategies
  • Key competitors
Visual guide on effective transfer pricing strategies for businesses
How transfer pricing services help maintain business efficiency in Dubai
Controlled Transactions
  • A detailed description of material-controlled transactions and their context
  • Amount of intra-group payments and receipts for individually controlled transaction category.
  • Identification of related businesses and their relationships.
  • Copies of all significant interfirm agreements
  • Comparability and functional analysis with a focus on changes relative to past years
  • A description of the most appropriate transfer pricing systems and the justification for their selection.
  • A summary of the underlying assumptions of the method selection
  • A listing and summary of comparable uncontrolled transactions
  • A description of all comparative modifications made
  • A summary of the financial data used in the implementation of the chosen TP methodology.
Financial data
  • Financial information and an allocation schedule are utilized for the TP approach
  • A summary of financial data schedules for comparable uses and their source.

TP Methods under OECD guidelines

By selecting and implementing the most applicable transfer pricing method, the arm’s length price for a controlled transaction can be established. Five transfer pricing strategies are recognized by OECD

Traditional Transaction Method
  • Comparable Uncontrolled Prices Process
  • Resale Price Technique
  • Cost Plus Procedure
Transactional Profit Method
  • Transactional Profit Splitting Method
  • Transactional Net Margin Method
Modern approaches to transfer pricing services in the UAE.
Insights into corporate transfer pricing practices in Dubai.
Financial data
  • Financial information and an allocation schedule are utilized for the TP approach
  • A summary of financial data schedules for comparable uses and their source.
Companies should select an acceptable transfer pricing technique by examining a variety of variables, such as the availability of information, the strengths and weaknesses of the transfer pricing method, the method’s suitability in light of the types of the transactions, etc. Once the transfer pricing method and a credible comparative are identified, a range of arm’s length pricing can be determined.
There may also be an option in the rules to use methods other than the approved Transfer Pricing Methods listed above, provided the Taxable Person can determine a reliable measure of an Arm’s-Length price and supporting documentation and the proposed method satisfies the requirements of UAE tax law.

Advisory

We can give you advice and help with all of your TP needs and make sure that the policies are strong and aligned with value creation, designing new prices, or reviewing your current policies..
We can provide an inclusive range of services to help our clients optimize their tax planning through effective transfer pricing policies. We specialize in developing and implementing efficient transfer pricing policies that are compliant with the regulations of the countries involved in the transaction.
An overview of comprehensive transfer pricing solutions available in Dubai
Business professionals collaborating on transfer pricing strategies in a modern office setting."

Documentation and Reporting

We provide comprehensive services to ensure that our clients are compliant with all the transfer pricing regulations in the UAE. Once an audit plan is approved, we begin our fieldwork by conducting walk-throughs, inquiries, and questionnaires to collect necessary information and data. Furthermore, we keep our clients updated with the progress of the audit process and its status at all times. We also make sure to use data analysis techniques to identify any discrepancies or issues, if any, and apply corrective actions accordingly.

frequently asked questions

Yes, the current announcement says that transfer pricing applies to all transactions between related parties.
No, there are no exceptions for SMEs or new businesses. Based on what we know now from MoF, TP documentation is required for transactions with related parties that meet a certain threshold.
Yes, if the business can show that the specified methods can't be used in a reasonable way to get an arm's-length result.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Corporate Tax

services

Corporate Tax

Clipboard labeled 'TRANSFER PRICING' with a bar graph and a calculator, representing financial analysis

Transfer Pricing in UAE

The United Arab Emirates (UAE) joined the OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS) on May 16, 2018.
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Corporate Tax Advisory

The Corporate Tax is a direct tax applied on the net income or profit of corporations and businesses.
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Feasibility Studies Services 

Give your business a wide overview of the roadmap and recommendations that are viable to your business

These days, businesses operate at a very fast pace. Both client demands and competitive pressures are increasing. Companies are always looking for new methods of creating products, developing marketing strategies and devising new policies to generate revenue. However, this can only be done if the individual and the business conduct feasibility studies before introducing a new project. We provide professional feasibility studies in all key business areas. Our consultants in the United Arab Emirates will recommend to you all the possibilities to succeed or fail with your newer proposals.

What is a Feasibility Study?

A feasibility study is conducted to evaluate whether a project is feasible for a business. The idea is evaluated based on various considerations to assess the success of the proposed idea. The feasibility study ensures effective control of the business and indicates the profit margin of the project.
Image illustrating the importance of financial feasibility studies.
List of benefits associated with conducting a feasibility study

Why are Financial Feasibility Studies Necessary?

Before initiating a project, you must first evaluate the financial feasibility. Feasibility studies deliver statistical information and guarantee that your idea is worth pursuing. Your company must know whether the project will be feasible and whether it will be profitable for your company. Despite the probability for financial growth of your creative business idea, there are also many risks associated with the suggestion.
Without carefully exploring the feasibility of your ideas, you will lead to many financial mistakes. Feasibility studies are therefore carried out to assess market competition, cost and income projections, target viability and many other factors necessary for the project development.

Important Elements of a Feasibility Study

Below are the phases to establish the feasibility of a project

Market Analysis

In this phase, the situations of the market are thoroughly studied, including the analysis of dominant and future market conditions, the prevailing market players are recognized and to bridge the gap, their strengths and shortcomings are determined. The product/service you want to introduce is compared with the existing products/services, distinguishing features that create a competitive edge over the existing products / services is understood and analysis is made of whether your product/service solves any ‘need’ of the market.

Financial Study

This phase of a feasibility study revolves around the analysis of below:

  • start-up costs
  • operating cost legal costs
  • capital expenditure
  • fixed and variable cost
  • profitability and expected ROI
  • financing methods and costs related to the financing options
  • customer and supplier payment terms are also determined to ensure healthy cash flow
Stock image representing strategic planning and feasibility analysis
Overview of financial feasibility studies and their applications.

Technical Aspect

In this phase, the essential resources for the company are analyzed. The requirements of hardware / Software, availability of Capital investments and whether a change can be accommodated with the capital being invested are some of the most important aspects in this phase.

Schedule

At this stage, the time frame for organizing the business is decided. An achievable business plan must be developed within a set time frame as the market is very active and the business plan should be set to reality within the stipulated time frame to meet the company’s goals.

Do feasibility studies add value to your business?

In-depth feasibility studies can determine potential problems and hazards. It delivers an outline of whether the project will be successful or not in the long term. It helps you to understand the financial, operational and other organizational impacts after all factors have been taken into account. Well-researched project execution has a better chance of success and revenue. With a feasibility study, you have the chance to control customers by indicating the statistical and graphical projection of the analysis. As a result, your business will gain more value and investors will have more confidence to invest in your company.
In order to carry out a proper financial feasibility study, you need to use a business consultancy or a service to get an independent opinion on your project. We have comprehensive experience in developing business plans and carrying out feasibility studies.
Image showing the process of conducting a feasibility study
Diagram illustrating the key elements of a feasibility study.

Benefits of hiring experts for feasibility study services in the UAE

Our feasibility study services offer a variety of excellent benefits to individuals and organizations. Some of these include:
  • Increases chances of success
  • In-depth insight into various parameters
  • Better decision-making
  • Identification of new opportunities
  • Helps to choose the right direction
  • Reduces risks and financial losses
  • Narrows business plans
  • Gain competitive advantage

How do our feasibility studies service works?

Adepts offers exclusive feasibility study services across the UAE. Our team has outstanding expertise and takes a critical look at the influencing factors. When we undertake a feasibility analysis of a project, we first try to comprehend its business plan, business potential, and other technical aspects. We conduct in-depth market research and explore customer behavior about your brand and the products or services you offer. Our experts provide extensive reports and presentations to business investors. We also develop spreadsheets and financial charts to help you apprehend the likelihood of success and failure. We guarantee that the information we have researched gives you the confidence to participate in the project.
Visual highlighting the benefits of a structured feasibility study approach
Overview of services offered by feasibility study companies in Dubai

What are the benefits of our feasibility study approach?

Deep industry experience and understanding of the markets give our clients valuable insight into the main factors driving the markets. Such an understanding of the market enables you to make precise business decisions and provide services of high-quality standards, tailor-made according to your needs, with the purpose of leading you to complete success.
For top-notch feasibility study services in UAE, Contact us.

frequently asked questions

A Feasibility Study starts with a preliminary analysis by preparing an outline of the project plan. You will also need to prepare a projected income statement. After, you must conduct a market survey or research. The data from the market survey will help you come up with the answer to your study.
Yes, it is possible for you to conduct a study on your own, but it will depend on the nature of the study and the resources available to you. Conducting a study on your own can be a challenging task, as it requires a significant amount of planning, organization, and attention to detail.
A typical feasibility study report includes an analysis of the technical, financial, market, and organizational aspects of a proposed project. The report typically includes an introduction and executive summary that provides an overview of the project, its scope and objectives. The report then goes on to detail the methodology used in the study, as well as the results and conclusions. Technical feasibility includes details on how the project will be implemented, including engineering, design, and construction. Financial feasibility includes an analysis of the project costs and revenue potential, as well as a risk assessment. Market feasibility includes an analysis of the demand for the project, as well as a competitive analysis. Organizational feasibility includes an analysis of the resources and capabilities needed to implement and manage the project.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Inventory Verification Service in UAE

"Inventory is money sitting around in another form," - Rhonda Adam

Inventory Verification significantly reduces the company’s inventory loss, assuring management that the inventory presented in the financial statements is reliable. Inventory is the most valuable asset of any business and the most vulnerable to extortion, fraud, waste, and damage.
In accordance with International Accounting Standards (IAS 2), inventory is the asset held for selling in the regular business course, in producing goods for resale and in the form of materials or supplies to be consumed in the process of producing goods or providing services. Per IAS 2, inventory is measured at lower of cost or net realizable value.
Inventory management professional conducting stock counting in a warehouse.

What is Stock Taking or Inventory Verification?

Inventory Verification or Stocktaking is the physical examination of a store’s stock or inventory at regular intervals. Inventory Verification or Stocktaking is performed periodically, typically when accounts are closed / financial statements are prepared for external purposes.

Goals of Inventory Verification

  • Confirm the accuracy of store records.
  • Prepare the organization’s final financial statements.
  • Disclose instances of fraud, theft, and stock loss.
  • Identify any flaws in the system of storage and inventory management.
Consultants discussing inventory management strategies and solutions.
Inventory management software interface displaying stock levels and analytics.

Purpose of Conducting Inventory Verification

The primary objective of inventory verification is to determine the presence of the current stock and its realizable value. Inventory can be an asset with several day-to-day moves, so daily inventory verification is a tedious chore for any organization.
Stock management is essential to accomplishing overall business objectives. Stock management is the process of managing and maintaining an appropriate stock or inventory level in a firm and ensuring that stock is available when needed. Physical stock control describes:
  • Receiving
  • Movement
  • Inventory Storage
  • General Physical Inventory Management

Types of Inventories

Raw materials
The goods needed to create the company’s product are referred to as raw materials.
Work in progress
In a firm, semi-manufactured or semi-finished products are referred to as work in progress.
Finished goods
In a firm, semi-manufactured or semi-finished products are referred to as work in progress.
Stocks

The firm’s unsold inventory is referred to as stock. Opening stock / opening inventory refers to the number of unsold goods at the beginning of the period, whereas closing stock / closing inventory refers to the amount of unsold inventory at the end of the period.

Stock Turnover
Internal audit identifies areas for process improvement, cost reduction, and operational efficiency. By analyzing business processes and controls, internal auditors provide valuable recommendations to enhance productivity, streamline operations, and optimize resource allocation.

Benefits of Inventory Verification

Assurances to Principals

Periodically checking your inventory is a great way to make sure everything is accounted for and where it should be. This process helps to identify any discrepancies between what’s physically on hand and what’s recorded in the accounting system.

Efficient Inventory Control

An accurate account of inventory is crucial for any business. Our system ensures that your working capital requirements and cash flows are well planned, minimizing the chances of ‘surprises’ down the road

Protect Your Investment

It’s important to have a system in place that safeguards your inventory. Physical verification helps reduce the chances of lost or stolen goods and keeps your assets secure.

frequently asked questions

Inventory verification is the process of ensuring that an organization's inventory accurately reflects the actual physical stock. This involves auditing an organization's existing records and comparing them to the physical stock in order to identify any discrepancies or inaccuracies.
It depends on various factors, such as the size of your organization, how many different types of products are being stocked, and how often new items arrive or leave your warehouse. Generally speaking; however, most organizations will perform an annual physical count as well as periodic spot checks throughout the year. Conducting regular stock takes helps maintain accurate records and prevents errors from accumulating over time due to incorrect data entry or erroneous assumptions about stock levels.
Effective inventory management requires careful planning, monitoring, and control over all aspects of your supply chain, from sourcing materials through production to delivery and customer service.

Why Choose ADEPTS

Business professional standing in front of iconic Dubai landmarks, representing corporate accounting services in Dubai, UAE
Expertise and Experience
At Adepts Chartered Accountants, our team consists of highly skilled professionals with extensive experience in managing complex regulatory and accounting standards. We are proficient in both local and international regulations, ensuring our services are accurate and fully compliant.
Tailored Solutions
Recognizing the unique nature of each Business, we offer customizable services designed to align with your specific needs and business objectives. We collaborate closely with you to understand your requirements and deliver solutions that achieve optimal results.
Time and Cost Efficiency
By choosing our services, you benefit from significant savings in time and resources. Our solutions are engineered to be cost-effective, providing high-quality support without the need for substantial internal investment.
Accuracy and Compliance
We prioritize accuracy and compliance in every aspect of our service. Our meticulous approach and rigorous procedures ensure precision and adherence to standards, reducing the risk of errors and the potential for non-compliance penalties.
Dependable Service
Dedicated to delivering reliable and consistent services, we aim to build long-term relationships with our clients based on trust, integrity, and mutual respect.

Business Support

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Business Support

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Bank Account Opening Assistance

ADEPTS offers assistance in opening a bank account quickly and conveniently.
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Inventory verification

Inventory Verification significantly reduces the company's inventory loss
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Feasibility Studies

Stay one step ahead with our FTA-approved tax agency services with a team of tax experts
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Conducting feasibility studies for business planning.

Property Valuation

Get an accurate estimate of your property with our highly qualified chartered.
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Welcome to Adepts Chartered Accountants a leading professional Audit firm, practicing in Audit and Assurance, Taxation and Advisory services with a cumulative experience of 15 years. Adepts has grown by exceeding clients’ expectations in the provision of professional services.
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