Our Mission
We are dedicated to our client relationships. Our professionals will sit with you, and get to know not just your business, but who you are personally. We are committed to the needs of our clients not only during the tax and audit engagements but throughout the year as well. Each business is unique, and we recognize that each business is as much about its owners as it is about its trade.
Therefore, we customise our services to meet a client’s requests and requirements in our approach to every accounting, tax, financial planning and management situation. We bring a seasoned perspective along with in-depth knowledge of local issues. Furthermore, our staff can offer a level of expertise and global solutions normally found in a large firm, while still maintaining the attention one demands in a small firm. All client deserves a higher standard.
TAG Consultancy is your trusted partner for navigating the complex financial landscape in the UAE. Our commitment to excellence, personalized service, and in-depth understanding of local and international standards ensure that your business not only meets regulatory requirements but also thrives in a competitive environment. Whether you are operating within the UAE mainland or in one of its free zones, our expertise and dedication to client success are unwavering.
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FAQ
Freezone companies in the UAE are generally not required to undergo an audit unless explicitly specified by the regulations of the respective free zone authority or by specific contractual obligations. However, it's essential to review the regulations of the specific free zone where the company is established, as requirements may vary. Some free zones may mandate audits for certain types of companies or based on factors such as company size or industry sector. Therefore, it's advisable to consult with legal and financial experts familiar with the regulations of the relevant free zone to determine the audit requirements applicable to a particular company.
Yes, Freezone companies in the UAE are typically required to maintain proper accounting records in accordance with the regulations set forth by the respective free zone authority. These records should accurately reflect the financial transactions and position of the company and should be kept up-to-date. Proper accounting records are essential for ensuring transparency, compliance with regulations, and facilitating financial reporting and decision-making processes. Failure to maintain adequate accounting records may result in penalties or other legal consequences. Therefore, it's important for Freezone companies to adhere to the accounting requirements stipulated by the relevant free zone authority.
To set up a Freezone company in the UAE, start by selecting the appropriate Freezone for your business. Submit your application with necessary documents like passport copies and a business plan. Once approved, lease office space within the Freezone and finalize legal documents. Pay the required fees and obtain your trade license. Process any necessary visas and open a corporate bank account. Ensure ongoing compliance and renewals as per Freezone regulations. Consulting with business experts can streamline the process.
To ensure compliance with Anti-Money Laundering (AML) regulations for your Freezone company in the UAE, it's crucial to understand and adhere to AML laws. Develop tailored AML policies and procedures, and provide comprehensive training to employees. Conduct thorough due diligence on customers, monitor transactions for suspicious activities, and report any concerns to the authorities promptly. Regularly review and update your compliance program to stay current with regulations and industry best practices.
Freezone companies in the UAE typically enjoy exemption from corporate taxes on their profits for a specified period depending on the free zone authority and business activity. This tax exemption is a strategic incentive aimed at attracting foreign investment and fostering economic growth within the free zones. However, it's important to acknowledge that Freezone companies may still be liable for corporate tax and other taxes and fees, such as customs duties, import/export taxes, and value-added tax (VAT), based on their specific business operations and transactions.
