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FREQUENTLY ASKED QUESTIONS
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Our team is here to offer direct guidance. Whether you’re unsure about licenses, visas, taxes, or next steps, just reach out.
1. What kind of license do I need to start a business in the UAE?
It depends on your activity, client base, and how you plan to operate. SOLBZ helps you choose between Free Zone, Mainland, or Offshore licenses, matching your structure to your goals, timeline, and budget.
2. How long does it take to register my company?
Company setup typically takes 3 to 10 business days. Free Zones are faster. Mainland or Offshore may involve more documentation. SOLBZ manages the entire timeline and keeps you updated.
3. Can I get a UAE residence visa through my company?
Yes. Free Zone and Mainland companies can sponsor investor or employee visas. SOLBZ handles the full process, from establishment card to Emirates ID.
4. What’s the difference between Free Zone, Mainland, and Offshore companies?
- Free Zone: 100% ownership, digital/trading/consultancy focus, global access
- Mainland: Access to UAE market & government contracts, physical office required
- Offshore: Best for holding, structuring, or privacy, not UAE operations
SOLBZ helps you choose the right one during your consultation.
- Mainland: Access to UAE market & government contracts, physical office required
- Offshore: Best for holding, structuring, or privacy, not UAE operations
SOLBZ helps you choose the right one during your consultation.
5. Do I need to rent an office to start?
Not always. Free Zones offer virtual/flexi-desk setups. Mainland licenses require a leased office. We guide you based on activity, cost, and visa needs.
6. Is it legal to own 100% of my UAE company as a foreigner?
Yes. Most activities now allow 100% foreign ownership, even on the Mainland. SOLBZ ensures your license aligns with the latest UAE laws.
7. Can I open a business bank account with my UAE company?
Yes, but it requires proper documentation. SOLBZ prepares your profile, matches you with the right bank, and introduces you to reliable relationship managers.
8. What taxes will I need to pay?
UAE imposes 9% Corporate Tax on profits above AED 375,000. Many Free Zone entities can retain 0% status if qualified. SOLBZ provides tax advisory before setup.
9. Can I operate multiple business activities under one license?
Some Free Zones allow bundled activities, while others require specific licensing. SOLBZ helps you create a scalable, multi-service structure without extra cost.
10. Why should I choose SOLBZ instead of another service provider?
Because SOLBZ is more than a setup agent, we're your business co-founder. We offer premium advisory, curated banking support, and ongoing compliance insight.
11. Is bookkeeping mandatory for all UAE businesses?
Yes. Bookkeeping is legally required under Federal Law No. (2) of 2015. Every UAE-registered business must maintain accurate financial records that reflect its transactions and financial position. This is essential for transparency, VAT and corporate tax compliance, and audit readiness.
12. How long must businesses keep financial records in the UAE?
UAE businesses must retain records for at least:
5 years – General records, accounting, and VAT
7 years – For corporate tax purposes
The retention period begins at the end of the financial year or tax period. Longer retention may apply if the business is under investigation or audit.
5 years – General records, accounting, and VAT
7 years – For corporate tax purposes
The retention period begins at the end of the financial year or tax period. Longer retention may apply if the business is under investigation or audit.
13. What documents are included in mandatory recordkeeping?
Companies must maintain:
- General ledgers and journals
- Sales and purchase invoices
- Bank statements and reconciliations
- Payroll and employee records
- VAT filings and tax returns
- Financial statements and audit reports (if audited)
- Legal contracts and correspondence
- Asset and inventory registers (if applicable)
- General ledgers and journals
- Sales and purchase invoices
- Bank statements and reconciliations
- Payroll and employee records
- VAT filings and tax returns
- Financial statements and audit reports (if audited)
- Legal contracts and correspondence
- Asset and inventory registers (if applicable)
14. Is it mandatory to hire an accountant or bookkeeping firm?
It’s not legally required, but highly recommended. Working with a qualified accountant or outsourcing to a licensed firm like SOLBZ ensures:
- Full compliance with tax laws
- Accurate VAT/corporate tax reporting
- Readiness for audit and inspections
- Avoidance of costly errors or administrative fines
- Full compliance with tax laws
- Accurate VAT/corporate tax reporting
- Readiness for audit and inspections
- Avoidance of costly errors or administrative fines
15. What are the penalties for poor bookkeeping or non-compliance?
Non-compliance may lead to:
- VAT-related penalties from AED 10,000 to AED 50,000
- Fines for incorrect or incomplete tax returns
- Legal complications during financial audits or renewals
- Reputational damage with banking or government authorities
- VAT-related penalties from AED 10,000 to AED 50,000
- Fines for incorrect or incomplete tax returns
- Legal complications during financial audits or renewals
- Reputational damage with banking or government authorities
16. Who regulates Anti-Money Laundering (AML) compliance in the UAE?
AML compliance is regulated by:
The UAE Central Bank
The Ministry of Economy
Designated Non-Financial Businesses and Professions (DNFBPs), such as company formation agents, real estate, and auditors must:
Register on the goAML platform
Conduct KYC and due diligence
Report suspicious transactions
Retain compliance records for 5 years
The UAE Central Bank
The Ministry of Economy
Designated Non-Financial Businesses and Professions (DNFBPs), such as company formation agents, real estate, and auditors must:
Register on the goAML platform
Conduct KYC and due diligence
Report suspicious transactions
Retain compliance records for 5 years
17. Is corporate tax applicable to Free Zone companies?
Yes, as of June 2023, UAE introduced a federal Corporate Tax:
9% Corporate Tax applies on annual profits above AED 375,000
Qualifying Free Zone companies may still enjoy 0% tax on eligible income which is subject to condition
Mainland-sourced or non-qualifying income may be taxable
Free Zone businesses must assess their Qualifying Income status and keep clear, auditable records.
9% Corporate Tax applies on annual profits above AED 375,000
Qualifying Free Zone companies may still enjoy 0% tax on eligible income which is subject to condition
Mainland-sourced or non-qualifying income may be taxable
Free Zone businesses must assess their Qualifying Income status and keep clear, auditable records.
18. Do businesses need to register for VAT in the UAE?
Yes, if your taxable turnover exceeds:
- AED 375,000/year – Mandatory VAT registration
- AED 187,500/year – Optional VAT registration
Once registered, the business must charge 5% VAT, file returns quarterly, and keep all tax-related documentation.
- AED 375,000/year – Mandatory VAT registration
- AED 187,500/year – Optional VAT registration
Once registered, the business must charge 5% VAT, file returns quarterly, and keep all tax-related documentation.
19. Can bookkeeping be done electronically in the UAE?
Absolutely. Electronic and cloud-based bookkeeping systems are widely accepted, provided:
- Data is securely stored and backed up
- Records are retrievable upon request by tax or audit authorities
- Software complies with FTA standards (if VAT-registered)
- Data is securely stored and backed up
- Records are retrievable upon request by tax or audit authorities
- Software complies with FTA standards (if VAT-registered)
20. Is financial auditing mandatory for all companies?
Not for all. However:
Mainland and certain Free Zones (e.g., DMCC, DIFC, DAFZA) require annual audited financial statements for license renewal.
Other entities may not require audits but must still maintain proper books of account.
Mainland and certain Free Zones (e.g., DMCC, DIFC, DAFZA) require annual audited financial statements for license renewal.
Other entities may not require audits but must still maintain proper books of account.
