Business Consultancy firms In Dubai – Helping You Establish Your Business

When there are changes in business, the adoption of new accounting standards, acquisition, restatement or regulatory review, an organization faces issues of time-sensitive accounting, and an array of complexes. Both of them can have a significant impact on the associated operations, accounting and finances.All this can be effectively managed by business consultancy firms, saving your money, energy and time.

These firms assist you to think about the future growth of your business rather than thinking about its past.In what ways consultancy firms in Dubai can help you with your accounts?

1. Maintaining Financial Record - Keeping the financial record is one of the prime functions of the accounting services. Earlier, it used to be on paper, but now everything is maintained by using an electronic database. Even cloud-based application can be used, depending on the modernization and ingenuity of the firm, but the financial record is being kept same all over.
2. Internal and External Audits- This is another function that accounting consultancy services can take on. The service type may vary depending on whether they are free to appoint or are on an agreement, etc. The auditing process though is essentially the same.
3. Tax Advisement and Compliance- It is another area where one can turn towards accounting consultancy services. This area needs a level of expertise as the major component of the accountant’s role is taxes. The taxes should be updated and well-schooled on all the tax laws.
4. Risk Management- The accounting consultancy services help in risk management related to internal financial and internal audits risk processes. In this area, an accounting firm can be helpful in saving a ton of money for your company. A review by an accounting expert on the non-financial process can give enormous savings and a new perspective for your business.
5. Advisor- For engaging an accounting service, strategic goal advising is another function of accounting consultancy services that can benefit you. As they are financially oriented, the benefits and savings are well known within their industries of proficiency. In the long run, lots of money can be saved by having accounting consultancy services for amalgamating, advising business expansions, growth projections, etc.

Important Points to Consider While Incorporating Offshore Company in UAE

Very few people are aware of the existence of offshore companies or what these terms even mean. The term “Offshore” relates to managing, registering, conducting or operating in a foreign country, typically with legal, financial and tax benefits.

Offshore company is incorporated outside the country of its main business activities or shareholders, directors and beneficial owners. A typical offshore company is also known as an international business company (IBC). This type of body does not pay taxes in its home jurisdiction. However, it must also carry out all its business activities outside of the country of registration.

UAE Offshore company incorporation can be carried out in a number of jurisdictions. The main decision criteria are the reputation of the jurisdiction, the price and time to incorporate.

Below are mentioned some important considerations for UAE offshore company incorporation:

• Ease of Reporting: The compliance and reporting in offshore companies are limited as compared to onshore jurisdictions. Most of the offshore companies would not require annual reports and accounts filings in the jurisdiction of the company formation. Instead, an annual flat government fee is being charged.
• Taxation: Most of the offshore companies do not pay taxes on the income derived from offshore operations.
• Cost of Operation and Fees: As there are limited reporting requirements, offshore companies generally pay lower maintenance fees as the cost of auditing and accounts preparation is often irrelevant. Fees of registered offices are also considerably lower than renting or buying premises in onshore jurisdictions.
• Asset protection: It is mandatory in the international business environment that the laws of the jurisdiction of company incorporation are applied, rather than those where the company has its operations setup. Many offshore authorities are known for their favorable asset protection laws.
• Anonymity: Most offshore registrars do not reveal information about the shareholders, directors, and beneficiaries of an offshore company. Thus, the underlying principal may secretly carry out the transactions in the name of an offshore corporation, which is a separate legal entity.

These considerations may lead you to effective company incorporation in UAE. The other ways to successfully incorporate your offshore company include availing UAE company formation services. These services will lead to easy and best offshore company incorporation in the UAE.