Tax Residency Certificate

We issue tax Residency Certificates in UAE to companies and persons to exempt the applicants from double taxation. We give it after a detailed review of the documents. TRC in UAE benefits individuals and companies by taking them off the hook from paying tax in their home country. Further, it assists with the advantage of the double taxation avoidance agreement. We notably issued it for a time of one year.

How to get a tax residency certificate?

A tax residency certificate is an official certificate or a file. The Finance Ministry in the UAE issues it to a company operating in the UAE for a minimum of 1 year. Further, we allocate it to individuals for a minimum of 180 days.

It is the official certificate they use significantly to benefit from the extensive double taxation treaties. Additionally, it also helps take benefit of dual taxation avoidance contracts. The UAE signs this one with over 76 countries in the world. Under those circumstances, this Certification is valid for one year from its issue date.

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Tax Residency Certificate for individuals in UAE

  • First, copy of the passport Copy of the passport
  • Second, a copy of the UAE residency visa
  • Third, a copy of the Emirates ID
  • A copy of the certified residential lease agreement or tenancy contract
  • The latest salary certificate
  • Further, validated bank statement of the past six months
  • A report from the General Directorate of Residency and Foreign Affairs; confirms and specifies the number of days the applicant has lived in the UAE.
  • Certificates must submit to the tax form.
  • For at least a year, companies within UAE are eligible to apply for the TRC.
Tax Residency Certificate for individuals in UAE
Tax Residency Certificate for companies in UAE

How do we assist?

  • A E Y Auditing is all up for any service regarding the Tax Residency Certificate or the Tax Domicile Certificate.

  •  Moreover, our experts and professionals will assist by all means. Because of their authority, they can get documents and certificates. It significantly helps to accomplish the TRC process.

  •  According to Saudi Arabia, you need TRC according to the Saudi income tax regulations. Apply to us, and we will notably deal with the rest of the application process.

  •  Indeed, our team has complete knowledge of the procedure. For this reason, we will deliver the certificate in a short time.

Tax Residency Certificate for companies in UAE

Companies require submitting the below documents:

  • Firstly, a copy of the company trade license
  • Secondly, establishment contract certified by official authorities (not applicable for sole proprietorship)
  • Thirdly, a copy of the company’s owners/partners/directors’ passports, IDs, and permits of residence
  • Further, shareholders and manager’s copies of the passport
  • Shareholders and manager’s copy of the residence visa
  • In addition, shareholders and manager’s copy of the Emirates ID
  • Certified audit report/ financial statements
  • A validated company bank statement of the past (6) six months
  • Copy of the company lease agreement or tenancy contract
Tax Residency Certificate for companies in UAE

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FAQs Of Auditing

The general requirement of a business in the UAE is to maintain its records for not less than (5) years. The Commercial Company Law makes it mandatory for all companies in the mainland.

According to UAE Commercial Company Law, every company needs to have auditors to audit their book of accounts. Under Federal Law no. 2 of 2015, Article 27, a licensed auditor is mandatory. Ministry of Economy in the UAE must approve it.

Dubai Financial Services Authority registers well-known auditors. Therefore, it may appoint them to examine and report accounts of regulated DIFC entities.

However, if your company is usually free from an audit, you need an audit if your shareholders ask so. The shareholders must own at least 10% of the shares. Shares can be particularly on an individual or group level. 

If you are an entrepreneur in Dubai, it is essential to get an audit. It’s significant because it assures that your company records are reliable and in order. Auditors in Dubai, while conducting audits, examine internal controls of a company. All of the sudden, they also inspect the existing system, coupled with the financial statement.

Yes! IFRS standards are mandatory by the UAE Commercial Company Law No 2 of 2015. Listing rules of NASDAQ Dubai, Dubai Financial Market PJSC, Abu Dhabi Securities Exchange, and especially Dubai Financial Services also demand it.

(5) years.

You can notably become an FCCA once you have a continuous membership of 5 years with ACCA. Further, you must meet CPD requirements of paying annual subscriptions every year.

Once you file the return, the IRS usually starts these audits within a year. Within particularly six months, they lead to completion. However, expect a delay if you do not deliver the complete information. In fact, we also expected the delay if the auditor finds issues and wants to expand in other years or areas.

The mandatory documents by management are as below:

  • Firstly, accounting reports with trial balance, balance sheet, ledgers, income statement, and relevant schedules
  • Secondly, copies of vouchers, invoices, receipts, and bills
  • Thirdly, a list of bank accounts used for transactions and forgeries of bank statements
  • Moreover, maintained reports of all the payroll functions of a business.
  • Further, copies of legal documents of the business
  • Verifications from clients, suppliers, associated entities, etc.
  • Above all, evaluate related parties and transaction examinations with related parties.
  • Firstly, it helps accomplish business objectives. It will fix company weakness in all ways.
  • Secondly, auditors in Dubai significantly facilitate identifying loopholes and risks in the financial report of your company.
  • Thirdly, it boosts credit rating and valuation. You open doors for foreign investors and get the best financial position by calling an audit service.
  • Moreover, it reveals the overall picture of your business. You can further focus more on your company’s strengths, weaknesses, opportunities, and threats once you have a clear vision.
  • Firstly, we follow our services’ highest professional ethics and quality level.
  • Secondly, our company has a fast-growing team of qualified & dedicated professionals.
  • Thirdly, you get new opinions to look at your business through Business Analysis, Creative Insight & Industry Benchmarking.
  • We act as a Sounding board for crucial financial decisions and significantly provide dependable strategic leadership through our experience and knowledge.
  • A E Y Auditing LLC is a UAE-registered auditing firm providing cost-effective value-added solutions to meet all your business needs.

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