Advisory

There is no single law forcing every company to buy advisory services, but many of the underlying obligations are mandatory: VAT and corporate tax registration, goAML for designated businesses, and Economic Substance Regulations for relevant activities. Advisory work exists to help you meet these correctly. Whether you need it depends on your licence activity, turnover and group structure.

Advisory fees are not fixed and are quoted after reviewing the scope of work, whether that is tax structuring, governance, mergers and acquisitions, or a feasibility study. Bookkeeping is the only service with published rates, starting at AED 599 per month for up to 50 transactions. For advisory, ask for a written proposal before committing.

goAML registration applies to designated non financial businesses and professions, which includes real estate agents, dealers in precious metals and stones, corporate service providers and auditors. If your business falls into one of these categories you are expected to register and file suspicious transaction reports as required. Confirm your classification against the licence activity before assuming it does or does not apply.

Economic Substance Regulations apply to entities carrying on a relevant activity, such as lease finance, distribution, holding company business or headquarters activities, among others listed by the authorities. Whether you fall under ESR depends on what your licence permits and what income you actually earn, not just your trade licence category. Check the activity list against your actual operations.

Typically you will need the trade licence, memorandum of association, latest audited or management accounts, bank statements, records of outstanding liabilities and any asset registers. The exact list depends on the size of the company and the reason for the review, whether that is liquidation, restructuring or a feasibility study before a new venture. A consultant will confirm the specific list for your case.

Timeframes depend on the certifying body's review process and how complete your submitted financial and operational data is, so no fixed number of days applies across all cases. Preparing accurate accounts and procurement records in advance is what shortens the process most. Vigor can help assemble the required documentation before submission to reduce back and forth queries.