So What Happens After You Set Up Your Business

M1 AML Registration (If applicable)

Non-Compliance Penalty

Up to AED 5 million & imprisonment of up to 10 years.

AML Registration

Financial institutions, DNFBPs, Brokers & Real-estate Agents, Dealers of precious metals & precious stones, Lawyers, Independent legal & accounting advisors, corporate services providers and Trusts, and Non-profit organizations must adhere to AML Regulations. Learn More

M1 UBO Compliance

Non-Compliance Penalty

Up to AED 100,000 fine including suspension of trade license for up to 12 months.

UBO Compliance

All companies that are licensed in the UAE, except those owned by local or federal government, must make Ultimate Beneficial Ownership (UBO) declarations. Learn More

M1 Corporate Tax Registration

Late Corporate Tax Registration Penalty

AED 10,000.

Corporate Tax Registration

All taxable persons are required to register for UAE Corporate Tax before respective deadlines and obtain a Corporate Tax Registration Number as per the UAE Corporate tax law. Learn More

M2 Bank A/C opening

Bank Account Opening

It takes approximately 2 to 4 weeks to open a bank account for an LLC or Free Zone company in the UAE. The period may vary depending on the bank. Learn More

M2 VAT Registration
(If threshold crossed)

Late VAT Registration Penalty

AED 10,000.

VAT Registration (if threshold crossed)

A business must register for VAT if its taxable supplies and imports surpass AED 375,000. Voluntary registration is an option if taxable supplies or imports exceed AED 187,500. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M5 1st Quarterly VAT Return (Y1)

Late VAT Return Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

1st Quarterly VAT Return (Y1)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M8 2nd Quarterly VAT Return (Y1)

Late VAT Return Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

2nd Quarterly VAT Return (Y1)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M11 3rd Quarterly VAT Return (Y1)

Late VAT Return Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

3nd Quarterly VAT Return (Y1)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M1 Trade License Renewal

Trade License Renewal

The Dubai Economic Department license has a validity period of 1 year and you will have to renew it annually. In addition, you will have to apply 30 days in advance of losing its validity. Learn More

M2 4th Quarterly VAT Return (Y1)

Late VAT Return Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

4th Quarterly VAT Return (Y1)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M5 1st Quarterly VAT Return (Y2)

Late VAT Return Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

1st Quarterly VAT Return (Y2)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M8 2nd Quarterly VAT Return (Y2)

Late Corporate Tax Filing Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

2nd Quarterly VAT Return (Y2)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

M9 Corporate Tax Filing

Late Corporate Tax Filing Penalty

AED 500 for each month or for the first 12 months or AED 1000 for each month, or part thereof, from the thirteen months onwards.

Corporate Tax Filing

The Corporate Tax Return will be due within 9 months following the end of the Tax Period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More

M11 3rd Quarterly VAT Return (Y2)

Late VAT Return Penalty

AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.

3rd Quarterly VAT Return (Y2)

Vat return is filed Quarterly. The last day to file any VAT return is the 28th day of the month following the end of the VAT return period. Learn More

R Bookkeeping (Recurring)

Non-Compliance Penalty

AED 50,000 to AED 500,000.

Bookkeeping

Bookkeeping is an ongoing process which’s vital for staying compliant with various UAE tax laws. Learn More