Nam Accountants

Changes to Foreign Ownership and Visa Rules Announc Residency system amended "The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors. Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents to the UAE," stated Shaikh Mohammad. He also directed the Ministry of Economy, in coordination with the concerned parties, to implement the resolution and follow up on its developments, and to submit a detailed study in the third quarter of this year. At a meeting of the Cabinet of the Council of Ministers of the United Arab Emirates (“ UAE ”), the UAE Government decided to allow foreign investors to own 100% of their  businesses  in the UAE and approved sweeping changes to the current UAE visa system. The changes were announced yesterday evening (20 May 2018), on Twitter, by Sheikh Mohammed Bin Rashid Al Mak...

Company Formation Company formation is the process of legally incorporating a business as a  limited  company or LLP at Companies House. Upon formation, a company becomes a legal individual with its own rights, responsibilities and liabilities.The process is also referred to as ‘ company incorporation’  and ‘ company registration’.                                               When you incorporate a limited company, it becomes an individual ‘person’ in the eyes of the law. Incorporated businesses are completely separate from their owners in terms of finances, liabilities, contractual agreements, and ownership of property and assets. How easy is it to register a company in Dubai? In most cases,  t he Dubai Company Act requires a foreign investor to have a local partner who will own the majority interest. The only plac...

                        Difference Between VAT & GST                                                VAT and GST are both counter approach taxation systems by the government to charge taxes on goods and services across  the nation. The old tax system,i.e. value added tax ,was the method of applying taxes on goods while the goods and service tax is set to change this course of action towards consumers .                      VAT is an indirect tax,which is imposed on goods and services at each stage of production,starting from raw materials to final product.VAT is levied on the value additions at different stages of production.                             ...

       Importance of a Charted Accountants Chartered Accountants don’t bring together any resources to create any significant economic development,  they are resources themselves.  Most CAs help the economy indirectly through the following activities: Supporting in tax compliance . This includes liaison with government authorities, representing clients in courts, ensuring smooth business operations by taking over the complex tax compliance part. For example, without the CA profession, changes like GST will be very hard to implement. Financing -Creating opportunities by arranging for business finance. They are helpful in making calculations and convincing banks about the credit worthiness of entrepreneurs. On a large scale too, many CAs working with investment banks help to arrange some key business deals between organisations . Auditing - which includes the redundant but still necessary function of control procedures. This is to preve...

AUDITORS IN DUBAI ‘ The Dedicated Financial Auditors in Dubai’ Auditors in Dubai – Among the top listed financial auditors in Dubai, UAE,                    Nam Accountants Group has gained immense respect and popularity as top Auditors with their rich service culture embarked in the area of auditing, business accounting and management consultancy. It was incorporated as an accounting firm with a strong vision of enhancing the business health and personal wealth of its clientele spread across the globe. The auditing firms in Dubai submit audited financial statements annually for Auditing in Dubai airport free zones. Our auditors in Dubai make sure that the annual financial statements are submitted three months prior to the end of the financial year. If they failed to do so, then heavy fine can be imposed on the investor. Therefore, it is necessary that you choose any one out of many reputable audit firms in Dubai. ...