Financial & Taxation Services

Accounting

Accounting is one of the core functions that play a vital role in the smooth functioning of the financial department of a company. It is the recording of all financial transactions of the company and acts like a foundation for making financial decisions. In the UAE, it is mandatory to keep a record of account books for the past five years. Therefore, accounting services are crucial for any entrepreneur who wishes to set up his business in the UAE.

Advantages of Accounting Services

Accounting Services Provided by Lloyds Consultants

We have a dedicated team of certified accountants and consultants providing valuable accounting and financial reporting advice and support. They follow a personalized and flexible approach to handle your unique requirements. Our accounting package is designed to meet your daily and monthly financial record-keeping requirements as well as monitoring the financial health of your business.

If you are looking to set up a business in the UAE, Lloyds Consultants Dubai can help you with your accounting services. Our financial advisors are well versed in the regional know-how and business paradigms. To know more about our accounting services, get in touch with us today.

Bookkeeping

Bookkeeping is the systematic recording of financial records of business transactions in appropriate books of account. It is the first and foremost step in accounting and financial reporting. It includes posting daily transactions in ledger books or accounting software.

Why Choose us for your Bookkeeping Services?

Save your time and resources

When your business grows, you will find yourself spending more time managing your money and less time scaling the business. By outsourcing your bookkeeping services to us, you can save your time, energy and resources on creating your business strategies.

Data Security

We handle our clients’ data with utmost privacy and ensure that each transaction is secure. Count on us when you communicate your most confidential information like cash flow.

Committed Team with years of expertise

We have a team of accountants with a higher level of expertise and years of experience in serving both large and small enterprises. They continuously improve their skills and qualifications to stay competitive in the market.

End-to-End Support

Our team is always there to support whenever you need their assistance.

Compliance with latest law and regulations

We have been in this region and space for a significant amount of time, so we know the latest rules and regulations and perform the compliance audit accordingly.

Lloyds Consultants Dubai’s bookkeeping team collects documents, categorizes transactions, reconciles bank transactions, prepares financial statements every month, provides payroll and HR Support and helps with your tax compliances every month. Call us for a free consultation today.

Auditing

If you are a new entrepreneur in the UAE, you should always keep in mind that the cost of not complying is much higher than the cost of complying with the laws of the land. That shows how important auditing is for every business. It is a process that ensures all your financial statements are an accurate representation of the transactions that you have made. This systematic and precise evaluation will help your business to alleviate risks in the future.

What all activities are performed in auditing services?

• Investigating account statements for any expected or unexpected variances.
• Communicating with the management to have an understanding of the organization, its operations, financial reporting for a history of fraud or error.
• Confirm accounts receivable and other third-party accounts.
• Construct compliant financial statements and communicate with banks, investors/shareholders, and other financial partners.
• Analysing physical inventory.

Lloyds Consultants is one of the leading business setup service providers in UAE, which offers unparalleled auditing services in Dubai and across the Emirates. We have an expert team of experienced auditors who assist the clients in conducting comprehensive and precise performance analysis. Based on the financial assessment, our auditors offer necessary recommendations for the wellbeing of the business.

If you are planning to revamp your financial strategy, we are happy to serve you. Get in touch with us to know more about our auditing services.

Tax Residency Certificate

A Tax Residency Certificate is a document issued by the UAE Ministry of Finance (MoF) to a company operating in the country to avoid double taxation and receive tax incentives. It is available to any active company operating on the mainland or free zones for the past one year. Offshore companies are ineligible for a tax residency certificate, they get a tax exemption certificate instead.

Documents needed to apply for UAE Tax Domicile Certificate

Documents required for individual applicants

• Passport copy and valid visa copy issued at least 180 days earlier
• Emirates ID copy
• Request Letter from the applicant
• Bank statement of the past 6 months
• Proof of income in UAE with attested certificate
• Certificate from the sponsor mentioning the individual activity and source of income

Documents required for a corporate entity (at the time of application, a company should be operational for 1 year)

• Trade license
• A copy of MOA (Memorandum of Association) of the company
• A copy of the Certificate of Incumbency of the company
• Lease contract
• Copy of the passport and residence of the company director
• Request Letter from the company
• Bank statement of the past 6 months
• Audited financial statements

According to your business structure and individual circumstance, effective tax planning should be done. It is recommended to seek professional tax advice, combined with accounting and finance support to ensure that your corporate structure, and individual situation is in line with tax rules to drive maximum benefits from UAE tax residency.