New requirements in Dubai and all other Emirates in UAE

New requirements in Dubai and all other Emirates in UAE

October 8, 2019

It is mandatory from the 1st July 2015 to maintain the books of accounts under the UAE Company Law and VAT Law.

Under the article 26 of the Federal Law of 2015 “Commercial companies” in Dubai and all other Emirates of UAE, each company shall maintain:

• Proper accounting records showing its transactions and should disclose at any time accurate financial position of the Company. The shareholders should confirm that the books of accounts of the company are kept as per the provision of this law,
• Its accounting books/Records in its head office for a period ta least of 5 years from the end of the financial year of the company,
• The company may maintain an electronic copy of the original of the documents and records kept and deposited therein in accordance with the controls issued by a Ministerial Decision.

For any information regarding the maintenance of your books in Dubai and any other Emirates of UAE, please be free to contact us at info@opkofinance.com or give us a call at +852 2654 8800 – website: www.opkofinance.com