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Yes. Every UAE company must keep accounting records for at least five years, regardless of licence type or emirate. This applies whether you handle bookkeeping in house or outsource it. Whether your particular business also needs an audit or specific tax filings depends on your licence type, turnover and activity.

Bookkeeping is offered in bands starting at AED 599 per month for up to 50 transactions, with higher bands for larger volumes. Audit, tax and advisory work is quoted separately after a proposal, since fees depend on company size, complexity and the scope of work required.

Most free zone licences require audited financial statements for renewal, and many banks and lenders ask for them too. Whether audit is compulsory for your company depends on your licence authority and activity, so check your trade licence conditions or ask your auditor to confirm.

VAT registration becomes mandatory once taxable supplies pass AED 375,000 in the past twelve months or are expected to in the next thirty days, with voluntary registration available from AED 187,500. Corporate tax applies at 9 per cent above AED 375,000 of taxable income. Whether either applies to you depends on your revenue and profit levels.

Typically your trade licence, bank statements, sales and purchase invoices, prior financial statements if available, and details of any VAT or corporate tax registrations already held. The exact list depends on whether the engagement is bookkeeping, audit or tax advisory, and is confirmed once the scope is agreed.

Timelines vary with the size of the company, the state of the underlying records and the service involved, whether that is monthly bookkeeping, an annual audit or a VAT or corporate tax return. Vigor sets out an expected timeframe once it has reviewed your records and confirmed the scope.